“What we’ve got is a monetary system that lacks the real old-time value of gold. And it lacks the real new-time value of simple, low-cost Internet-based information exchange. We can receive an electronic copy of War and Peace online at virtually no transaction cost. But if we want to pay for it, we must pay fees to zombie banks and credit card companies (and inform the NSA of our reading habits). Digital money is the biggest innovation in currency in 6,000 years. Modern technology opens this universe up to us – exposing thousands of monetary galaxies and currency solar systems. Surely, we will find at least one planet hospitable to human commerce.”
http://www.bonnerandpartners.com/bitcoin-2-0/
Related posts:
Scheuer: Ten questions worth pondering on Obama, Syria, and Interventionism
Debt Excess and the Liquidation Process in a Historical Context
Cody Willard: Game plan for a completely corrupted market
Detlev Schlichter: “Watching your money disappear” – Speech to senior representatives of the UK pens...
Lebanon’s Banks Have the Highest Cash Reserve Ratios in the World
IRS Reporting Rules for Cash Transactions and Precious Metals
Paul Craig Roberts: The Money Changers Serenade - A New Plot Hatches
Bill Bonner: Thank You, TSA, NSA, FBI, and CIA!
How a Pacifist Accidentally Infused the FBI with Cash
Iraq +15: Accumulated Evil of the Whole
Wendy McElroy: America’s Electronic Police State
The Man Who Was Treated for $17,000 Less
Will IRS Find Your Small Foreign Bank Account?
Liberty: A Muslim-American Perspective
The Dilemma of False Terrorism