On 2002.05.29 03:18 AM, "Diane Monaco" <[EMAIL PROTECTED]> wrote:
> Seigniorage earnings at the expense of independent unemployment/inflation > goals? I don't think so. > > Diane > > > May 25, 2002 > New model for common currency > Jacqueline Thorpe > Financial Post > > Economist suggests central banks operate separately, with shared inflation > goals... > > "The central bank policy interest rate would be the same in all three > countries; changes would be announced simultaneously by all three central > banks," Mr. Carmichael said. > > Bank notes in the three countries could vary but they would be of equal > value. For example, the existing U.S. dollar would continue to circulate in > the United States while Canadian and Mexican versions of the dollar -- > depicting Canadian prime ministers and Mexican presidents on one side -- > would circulate primarily within Canada and Mexico. Any one of the three > versions of the dollar would be legal tender in all three countries. > > This approach provides a share of "seigniorage" revenue (revenue > governments gain by issuing currency -- about 0.3% of GDP in Canada) and > still gives the central banks lender-of-last-resort responsibilities -- > requiring them to provide liquidity during financial crises. > http://www.nationalpost.com/financialpost/story.html?f=/stories/20020525/33760 > 4.html > On national post's article assume central banks,so this new currency theory is within money's logic. But we already overcome money(common form of value) World wide. For example, in Argentina, Banks don't work so people exchange product by barter trade. In adding, LETS are used world wide. LETS has not function as money(measure of values, the medium of circulation,symbol of value, means of payment), so it doesn't lead to fictitious capital. It is only medium of exchange and don't need abstraction of labor such as money,or commodity. So we have already alternative currency. It is important factor to build association society. MIYACHI TATSUO Psychiatric Department Komaki municipal hosipital 1-20.JOHBUHSHI KOMAKI CITY AICHI PREF. 486-0044 TEL:0568-76-4131 FAX 0568-76-4145 [EMAIL PROTECTED]
