Money as work— a story of a labor-based economy
Svein Gjølmesli

The major difference between the shell money your describe here and the fractional reserve (debt) money we use is that the banking system charges interest on the money it creates. If all the outstanding loans had to be repaid on the same day, there would not be enough money in the economy and some people would lose. In other words a financial crisis.

(FREE! The author of this comment has written an Ebook Funny Money: Adapting to a down economy. Information is on my weblog:

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