[extropy-chat] Bloodless Redistribution ofWealth(wasSingulartarians)

[spike]

> -----Original Message-----
> From: extropy-chat-bounces at lists.extropy.org [mailto:extropy-chat-
> bounces at lists.extropy.org] On Behalf Of gts
> Sent: Wednesday, December 28, 2005 2:56 PM
> To: ExI chat list
> Subject: Re: [extropy-chat] Bloodless Redistribution
> ofWealth(wasSingulartarians)
> 
> It would destabilize the currency. $20 notes bearing Kenneth Lay's photo
> (former Enron Chairman) printed a few years ago would be worth less or
> more (probably less) today than $20 notes bearing Bill Gates' photo
> printed this year.
> 
> People would be trading these things on ebay like baseball cards and
> cabbage patch dolls. We would have no idea about the real money supply.
> Probably the increased risk of ownership would cause the US dollar to tank
> on world markets.
> 
> -gts

Yes, but contrarily, many of the bills would be 
taken out of circulation by collectors, much the way 
philatelists take some postage into private collections.  This 
would work as the equivalent of free money to the fed, much the
same as having the state quarters end up in private collections
instead of in circulation.  Assuming the fed continued to 
control the amount of paper money being printed, it should
not destabilize the currency.  

The fed could agree to not print any more than a 
certain amount of a particular vanity currency, which 
might further increase its value to a collector, and 
possibly serve as a tool against counterfeiters.  This 
is a great idea by the avantguardian.  I find particularly
appealing the notion of greedy vain capitalists charging to
the rescue of the poor and needy, even if not out of 
entirely pure motives.
 
spike