Stamp Scrip

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pleaseremoveme's picture
pleaseremoveme
Status: Silver Member (Offline)
Joined: Jan 24 2009
Posts: 115
Stamp Scrip

Has any one of you even heard of stamp scrip? It was used as an alternative to money during the Great Depression, and might have solved several problems of the debt based money system.

Here is a link: http://userpage.fu-berlin.de/~roehrigw/fisher/

straight's picture
straight
Status: Silver Member (Offline)
Joined: Aug 25 2008
Posts: 103
Re: Stamp Script

Great link.

"Thus, the stamp is more like a tax on hoarding than a sales tax. Hoard, and the tax is heavy; spend (or invest or deposit), and the tax is light.  If the stamp is thus to be likened to a tax, the scrip itself may well be likened to money. But it were more appropriate, I think, to liken the scrip to a pre-dated check, issued by the town. "

This is a very interesting idea.  What a notion as part of a bail-out.  If you have to bail out, then helicopter in some stamp scrip to everyone.  'Money' given to the people by the people to circulate and create trade, which is then paid back via the stamps, increasing BOTH the 'amount' and the 'velocity' of money [or stamp script].   People can even bank and invest the script.

 

Crash's picture
Crash
Status: Silver Member (Offline)
Joined: Nov 26 2008
Posts: 171
Re: Stamp Script

Stamp script is an interesting idea,

 

but I dont really see the need for a tax in that way at all, a LETS is similiar to stamp script but without the haste. If there are people with goods and services that people want then the trading will happen, if I am encouraged to spend early than I will be tempted to consume unnessary resources becuase it is actually a tax on patience, sufficiency and (the feeling of) gratification as well as a tax on hoarding. 

 

For me, one of the reasons for moving towards an interest-free currency (such as LETS) is to slow down the rate of resource consumption. Stamp script replace the driver of interest-bearing debt with a time-depreciating currency. Personally I just don't see its benefit.

 

I am open to being enlightened if anyone can artfully explain the benefits of stamp script over LETS,

 

thanks,

 

Crash 

pleaseremoveme's picture
pleaseremoveme
Status: Silver Member (Offline)
Joined: Jan 24 2009
Posts: 115
Re: Stamp Scrip

One of the possible outcomes of this crisis is a new decade of deflation -- negative inflation of upto 10%. Introducing a use fee on money of 12% per year would mean a loss of buying power of only 2% every year, which is near the preferred inflation rate of the European Central Bank. In other words: a use fee might replace inflation in deflationary times, together with inflation's benefits: higher turnover and lower unemployment.

 

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