The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
If you think about it, the sale price of land & buildings which backs mortgages is effectively the net present value of future rentals.
If you have a state issuing currency then this currency is redeemable in payment for taxes. The problem is that very little tax is actually levied on unearned income from land, and most of it is levied on earned income from labour.
But if one were to have land-based currency this would not be through the ability to redeem it against ownership of land but rather against the rental value of land. This is actually quite straightforward to do, by having land held by a custodian (which could be the existing owner) and enabling the issue of units redeemable in payment for (say) £1.00's worth of rental value.
If the Unit is issued at 80p the result is a return of 25% upon redemption: but what determines the rate of return is the time of redemption, and this may depend on many things.
The broadening of redemption may be achieved through paying dividends of units within communities; enabling occupiers to pay rentals in 'sweat equity', and so on.
Also, note that land-based currency would be just one - geographically fungible - currency. Others could include currencies backed by energy, and by Labour.
"The future is already here -- it's just not very evenly distributed"
by DoDo - Oct 5 7 comments
by gmoke - Oct 1 3 comments
by Luis de Sousa - Sep 28 26 comments
by Frank Schnittger - Oct 5 2 comments
by Frank Schnittger - Sep 24 19 comments
by ATinNM - Sep 24 16 comments
by DoDo - Sep 12 26 comments
by DoDo - Sep 10 23 comments
by DoDo - Oct 57 comments
by Frank Schnittger - Oct 52 comments
by gmoke - Oct 13 comments
by Luis de Sousa - Sep 2826 comments
by ATinNM - Sep 2416 comments
by Frank Schnittger - Sep 2419 comments
by gmoke - Sep 23
by DoDo - Sep 1226 comments
by DoDo - Sep 1023 comments