Back in 1911 with the instigation of the Commonwealth Bank,we had an institution that created debt free money which equaled some of the productivity of our nation.By 1922 Billy Hughes had scuttled the capacity of this bank to express our increases in productivity debt free.

When Paul Keating sold off the rest of the carcass of the Commonwealth in 1996,it was too late to redeem the salient features of this once great institution that represented the creativity and toil of all the people of Australia.

Coins now are the only mechanism in which our Govt can express our toil as a debt free expression.

We can all now reduce our national and personal debt by using more coins.How? Our mint creates coins without private bank debt.95% of our new money is created by private banks but 5% is created debt free by our Canberra Mint.

If we all use more coins,then our mint will have to respond thus increasing the amount of debt free money in our economy.Our current problem is not lack of productivity but the medium of exchange to facilitate transactions.

Recessions/depressions are brought on by a starvation of cash that equals the productivity of a nation.It has been always a few elite who restrict supply of money for their own advantage.The increase in use of coins by the demand of the masses can reduce not only our national debt,but give them more debt free money for their own prosperity.

So put away the credit card and go back to traditional means of exchange which will reduce our debt,ie coins created debt free by our Govt mint.

Arjay,

This sort of discussion has probably been going on ever since the invention of paper money. I don't know, it's not a field I know much about.

But I do think that if there is - in response to your call - a much greater demand for coins as the medium of exchange, then the price of coins will effectively edge up, there will be a sort black market in coins: people will be willing to pay more than the face value for coin.

One other problem with coin is pretty obvious, and it affected the Roman economy and a thousand years later the Byzantine economy: demand for the materials to make the coins would rise rapidly and keep rising, so where to get the materials from ?

After all, the exhaustion of metal supplies leads either to wars over resources or to financial bankruptcy, as coin flows from one country to another with the purchase of goods. A vast amount of Roman gold and silver ended up in China and India, after all. Spanish gold and silver too.

Perhaps instead of oil wars, we would have gold and silver wars, a re-run of the Anglo-Spanish wars of the 16th-18th centuries, and then Zimbabwe may figure more prominently in the news.

But correspondingly to the rising demand for coin, if people want to get rid of their paper money, and the demand for it declines, then it will be devalued below its face value. So some smart bugger is going to buy up a lot of the paper money cheap, and wait for the rising price of coin (both in its production and in its market attraction) to force people back into the market for paper money, whose value will then rise to approximate its face value.

But I'm only a one-trick pony, so it's back to Indigenous higher education and its record growth for me :(

Joe

coins..is small change to so many
qwho think only paper [ok now plastic]..holds value

they forget..that a bank bill/note..is a promise
of value in coin...[pre 66..it was a promise
of one pound sterling silver coin..

*redeemable [in assured sterling quality silver coin
by presenting it[the bank/note/cheque]..to any commonwealth bank]

so coin is the real..that underpins..the values of the note
[now coins are only silver colour..[being in the main nickle]

but guess what..just like when..the copper coins
cost 5 cent..of copper..[to make the 1 cent face valie]
the nickle..is now at parity..to its weight/and metal content/value

so..now matter where notes endup
the nickle in the coin..must keep market values
so i been investing..in nickle..by prefernce to keep all my small change[using up my notes..to retain the real value..now back into the nickle coin]

the talk is
they next want to steal the nickle
[after stealing the gold/silver/copper coin]
beginning with the 5 cent piece..[but ten/twenty/..contain near the same in weight/by face values].,.50 not quite as much..but close

the cupra coin[copper/nickle] dollar's will be the last to go
[but going by their gold colour..i ffeel fair value for the face on the current gold coins[is that weight in gold]..[to makeup for the theft of it

further that..the nickle coins
return to their traditional values..[weight times silver price]
this is a simple matter of chasnging the face values[that instantly can generate wealth..to the poor]..who only save their pennies]

top down bailouts failed
botum up is simple as doing the right thing
after doing the wrong thing[via inflation]...deflating
the coin real value's..as the face values[par]..of the notes deflated in value

this should hapen globally
and the re-issued coin..will be local specific
notes and credit..etc..stay national..[so the coin does its work locally]

but what is the dream
i agree arjay ol mate

save the coin..till the rainy day

[i somehow feel
that when the quantive easing..
prints too many more.,..of the fiat notes...

values will naturally settle
on the metal..by weight..of the coins currency..

and worth..to those with so few pennies
to rub together..even in the best of times

how this insane condition came about
is by babnkers..playing with govt bonds
just like they now are doing to iran/greece..and [the pigs]

the bankers were smart enough to demand full repayment..
of the bond..in coin[gold/silver]..[just like the clever money..[at decimalisation..took their cents..in 50 cent round pieces[sterling silver content]..

[but hang on..what is a bond [really]
but govt money[surity]
..
think
i put a bond up
when i rented houses/car's etc

a bond...must be the value
that pays_off..in case of default

why is no-one else..telling you?
there is no greece debt
no govt debt

govt owns the wealth..[of coin]
that underpins valuation of the notes

or rather used to
now it give bankers vaklue..that lol creates debt
plus makes us pay income tax..to pay off intrsst[ursury]
then when bankers cry poor..they get yet more govt bond values

in a world gone nuts
dont get caught out..with promises
like happend in germany..where a wheel barrow of notes
couldnt buy the barrow,,in fact couldnt buy la loaf of bread

plus coins..make great ammo

Thanks OUG,

As a sort of residual Marxist, I would respectfully suggest that when you get a hundred-dollar paper note, it is in exchange for one hundred dollars' worth of something, potatoes, relief massage, or perhaps just your labour. It is a state-sanctioned promissory note that says that you are guaranteed by the state to get one hundred dollars' worth of stuff, or labour, in return for this note.

And coin is simply another form of promissory currency: you can exchange it for the face-value's worth of goods or services, regardless of how much the coin actually cost to manufacture.

A dollar's worth of Fisherman's Friends will cost you a dollar in coin, no more and no less. Two dollar coins can be exchanged for a two-dollar note, no more and no less. The state guarantees it, or rather the Reserve Bank does.

Or am I being incorrigibly naive and so twentieth-century ?

Every bit helps OUG and loudmouth.Even if we increase our coin usuage by $20 per week per working person,we make the mint print debt free money.This adds $ 100 million of debt free money to our economy in just one week.This is a lot of money over 1 year if done on a consistant basis.

I don't know how they balance the increase in notes with money created by the private banks.It would be interesting to know the mechanics of notes printed V's debt money issued by the banks.