Comments on: Extractive vs. Productive Anti-meltdown measures https://blog.p2pfoundation.net/extractive-vs-productive-anti-meltdown-measures/2009/03/30 Researching, documenting and promoting peer to peer practices Tue, 31 Mar 2009 07:52:22 +0000 hourly 1 https://wordpress.org/?v=5.5.15 By: Marc Fawzi https://blog.p2pfoundation.net/extractive-vs-productive-anti-meltdown-measures/2009/03/30/comment-page-1#comment-401211 Tue, 31 Mar 2009 07:52:22 +0000 http://blog.p2pfoundation.net/?p=2606#comment-401211 You’re right. There has to be a better way to move the argument forward than through dramatic conclusions.

Marc

]]> By: Michel Bauwens https://blog.p2pfoundation.net/extractive-vs-productive-anti-meltdown-measures/2009/03/30/comment-page-1#comment-401034 Tue, 31 Mar 2009 00:55:03 +0000 http://blog.p2pfoundation.net/?p=2606#comment-401034 It is possible but not certain, so one shouldn’t restrain from monetary innovation on the mere possibility, as that would mean they have won already, without firing a shot. But one should go to the battle prepared. Why was jesus killed and buddha not, both were equally dangerous to the status quo?

Michel

]]> By: Marc Fawzi https://blog.p2pfoundation.net/extractive-vs-productive-anti-meltdown-measures/2009/03/30/comment-page-1#comment-401002 Mon, 30 Mar 2009 23:30:02 +0000 http://blog.p2pfoundation.net/?p=2606#comment-401002 What I mean and what you’re saying is that the government has to control it and its up to the government agencies like the SEC to interpret the law.

None of the local currencies we have now change the nature of money to dis-empower the current stakeholders. So it’s very possible that if someone manages to popularize a kind of currency that dis-empowers the current stakeholders then they will be shutdown through an innovative interpretation of the law.

Marc

]]> By: Michel Bauwens https://blog.p2pfoundation.net/extractive-vs-productive-anti-meltdown-measures/2009/03/30/comment-page-1#comment-400918 Mon, 30 Mar 2009 21:17:53 +0000 http://blog.p2pfoundation.net/?p=2606#comment-400918 Marc,

I think you are referring specifically to what happened to Prosper, but unfortunately I did not follow that closely and don’t know the details. I would caution against too rapid conclusions on this: there have been numerous long-standing alternative currencies in existence, including in the U.S. But certainly, one has to be aware of legal restrictions, though this are never as hard as one imagines, and a correct interpretation can lead to innovative results.

Michel

]]> By: Marc Fawzi https://blog.p2pfoundation.net/extractive-vs-productive-anti-meltdown-measures/2009/03/30/comment-page-1#comment-400867 Mon, 30 Mar 2009 19:39:31 +0000 http://blog.p2pfoundation.net/?p=2606#comment-400867 Hi Michel,

Did you here about the government crackdown on P2P lending?

This has a strong implications on the future of local currency and new kinds of currency (such as the one proposed in P2P Energy Economy)

It’s easy for major stakeholders in the money game to sponsor legislation to ban this or that alternative currency.

Maybe one has to buy a private island and declare a new kind of currency for their self-governed island nation?

Marc

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