Bitcoin Forum

Posting this to get some comments. Here is the gist of a system I came up with. Is there something like that going on already ?
There may be typos below, posting this as a version 1, i.e more details will be added.


The facebook page of this is https://www.facebook.com/groups/580883711936627/, join please.


Introduction
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So …… here is a grand idea for saving the humanity from Inflation, Money Monopoly and its inherent corruption, Austerity, Slow and Painful Poverty, Misery, Fascist/Authoritarian style depopulation of the humanity!
No seriously, here is how.



Overview / Executive Summary / One sentence explanation
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The Credit system is the complete opposite of the Banking System where a single entity, the banks, create money. In the "credit system" proposed herein, whenever new money is created to the “Credit” Money Supply, all new money is equally distributed to all participants in the system, avoiding inflation, debt and money-monopoly.  The initial money creation is assigned to every person that is born according to the current volume of money supply.

In the beginning of the system, everybody participating in the system, on a national or global level is assigned 1000 Credits. An initial exchange rate to the banking system is created at 1 Credit equals 15 EUR. Therefore everyone of us who is born, immediately is now assigned 15 000 Euros in “Credit Money”.  ( NOTE, I AM NOT SURE IF THERE WILL BE CONVERSION TO FIAT MONEY, CONVERSIONS HERE ARE GIVEN FOR REFERENCE AND REPRESENTATION ONLY)

The actual conversion rate between credits and EUR/USD/GBP/etc. doesn’t matter because it will be adjusted on marketing principles when trading houses are opened later in the process. In fact considering the current levels of bank money printing and the lessons from Bitcoin, it is safe to assume, that within 2 years of  starting up the credit system, 1000 Credits can easily be worth 150 000 EUR since the starting of the System. And that is credit you get “immediately”.  The system is therefore “anti-debt” and a democratic one.


Laws of the Credit System
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The biggest value in the new credit system is that it transfers the  “right to create money” and takes it from the banks and moves the right to the people. ( IT does’t really “move “ this right.  It  takes it back where it has always belonged.)

Law 1:
Each new born person receives 1000 Credits at the time of birth. Once the system starts working there may be a need to create more money to accommodate for growth.  This leads to Law 2

Law 2:
“When new money has to be added to the money supply the money is equally added to all participants in the system”, NOT to A single entity. (New money may not have be added at all, the point is if it was , the new money is added to all participants, equally. )

Now,  the money supply in credits could be increased at certain points in time, for the sole reason to accommodate the need to assign more value to new resources. For example:  A new electric town is created  in Africa. Because of its high impact, high-technology the overall economy is decided that the money supply to be increased by , say 1 Million credits. So we go ahead and add the 1 million credits BUT ! We don’t add the million to a bank, We don’t even add the million to the builders who created the Town. ( Note:  in this example the builders would have been paid collectively by their investors and or property buyers ) . Instead, we add the Million equally divided into the bank accounts of all participants. Why so ?
Because that is the only democratic way to avoid the practice of money creation usurpation  like there is now.


Note: This is different to Bitcoin that there is no mining, everyone is automatically assigned equal amount of credits.

Everybody is free to trade, etc. If you lose everything, only other people can save you. And NO INFLATION !