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 Helen - Aug 3 1 comment
by Frank Schnittger - Jul 22 37 comments
by rz - Jul 15 24 comments
by tyronen - Jul 13 228 comments
by Frank Schnittger - Jul 20 30 comments
by rifek - Jul 16
by rz - Jul 20 11 comments
by rz - Jul 16 23 comments
by Helen - Aug 31 comment
by Frank Schnittger - Jul 2237 comments
by rz - Jul 2011 comments
by Frank Schnittger - Jul 2030 comments
by rifek - Jul 16
by rz - Jul 1623 comments
by rz - Jul 1524 comments
by rz - Jul 142 comments
by tyronen - Jul 13228 comments
by Frank Schnittger - Jul 1325 comments
by marco - Jul 1030 comments
by rz - Jul 722 comments
by tyronen - Jul 7143 comments
by rz - Jul 633 comments
by Frank Schnittger - Jul 669 comments