of course, but is this "ideal money creation, each adult having equal Shares of global fiat credit to begin with" model actually making sense then? no need for resources, work or industry? Just. Banking. ??? Everyone gets paid equally, just "by rule"??
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Governments have legitimate administrative function, as does Central Bank, in handling the accounts of State Business is as usual, because most money is created by deposit bank loan now. The only difference is the source of credit But not really as usual
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That's a good thing, because usual sucks this from a conversation with a crypto guyhttps://link.medium.com/yqDJ9K84R6
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What's the logic for arriving at these figures, Stephen? a) 1.25% interest rate b) $ 1 million per capita
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I was working backward from the popular $1,000/mo target for basic income To sustainably produce that requires the existence of $1M of capital producing a sustainable 1.25% $1M is conservative valuation of lifetime human labor, particularly when each human has a trust worth $1M
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