SomaliNet Forums

Ben Dover wrote:lol, Gurey, how do you plan on getting the money to begin with?

If you dont want to borrow, how are you going to raise capital?

you are still thinking conventionaly.

what is money in the first place?

isnt it just a standard of measure like centimeters and kilograms?
and inst it also a means of exchange?

why does it have to be borrowed in some other currency in the first place?
you can do what james suggested with the liberty dollar example,
but why not just issue the money by act of government as credit and spend it on public goods?

there are many successfull historical examples?
all i am saying is that you need to keep an open mind.


and have you asked yourself how somalis economy is functioning whn billions of dollars worth of transactions are done on decaying and torn old somali shillings?
why are Burco businesses still using it in preferance to the somaliland shilling?

its not backed by anything at all is it?

gurey25 wrote: but why not just issue the money by act of government as credit and spend it on public goods?

The same reason we want true, decentralised Federalism; to prevent the government any sort of power over the economy, and preventing a repeat of the parliamentary era. Are we willing to cede power over the life blood of the economy over to slimy, clannish politicians and useless bureaucrats? I certainly am not, and neither should any sane individual.

There is no requirement that governments tax the populace for goods such as infrastructure that can easily be provided by private organisation. There have been a great many historical examples of this happening. A private solution neatly side-steps any clannish consideration on the part of government largesse.

gurey25 wrote: and have you asked yourself how somalis economy is functioning whn billions of dollars worth of transactions are done on decaying and torn old somali shillings?
why are Burco businesses still using it in preferance to the somaliland shilling?

its not backed by anything at all is it?

Precisely because there isn't any official counterfeiting by the any gangsters masquerading as government. Weren't Afbiijo and Cadde Muuse fighting over who gets to counterfeit the currency in Puntland a while back?

Padishah wrote:

gurey25 wrote: but why not just issue the money by act of government as credit and spend it on public goods?

The same reason we want true, decentralised Federalism; to prevent the government any sort of power over the economy, and preventing a repeat of the parliamentary era. Are we willing to cede power over the life blood of the economy over to slimy, clannish politicians and useless bureaucrats? I certainly am not, and neither should any sane individual.

There is no requirement that governments tax the populace for goods such as infrastructure that can easily be provided by private organisation. There have been a great many historical examples of this happening. A private solution neatly side-steps any clannish consideration on the part of government largesse.

gurey25 wrote: and have you asked yourself how somalis economy is functioning whn billions of dollars worth of transactions are done on decaying and torn old somali shillings?
why are Burco businesses still using it in preferance to the somaliland shilling?

its not backed by anything at all is it?

Precisely because there isn't any official counterfeiting by the any gangsters masquerading as government. Weren't Afbiijo and Cadde Muuse fighting over who gets to counterfeit the currency in Puntland a while back?

Precisely. There is no point in reforming the currency if it will just be handed over to the same bunch that ruined the old currency. The Somali business community are the only ones who have demonstrated the responsible attitudes necessary to steward the country's money supply.

James Dahl wrote: Precisely. There is no point in reforming the currency if it will just be handed over to the same bunch that ruined the old currency. The Somali business community are the only ones who have demonstrated the responsible attitudes necessary to steward the country's money supply.

Hear hear!