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Fiat Money :
Inconvertible money that is made legal tender by the decree,
or fiat, of the government but that is not covered by a
specie reserve.All Federal Reserve notes and most circulating
coins are money because the government says they are, not
because they are backed by precious metals.
Fiat money, by definition, does not have any intrinsic value,
nor is it backed by anything other than the confidence
holders have in the economy which is covered by the
government which decrees it to have value.
Fractional Reserve Banking or Usury
:
A banking system in which only a fraction of the total
deposits managed by a bank must be kept in reserve (1-2 %).
"Fractional Reserve Banking" system allows private banks to
create new money out of nothing deprives,the government off a
special profit.This special profit is called seigniorage
and belongs to the people.
Seigniorage :
The amount of real purchasing power that banks-governments
can extract from the public by printing money.
Public Debt :
In simple terms the new money comes into circulation through
the banking system, issued as a debt to the banking system.
So why does government 'give' this new money to the
banks?
This new money could come into circulation not as a very
expensive debt to the banks ?
Parasitism :
It means that a parasite is any organism or living thing that
benefits from another creature's harm. In other words, the
parasites harm the host organism while the parasite
benefits.
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| Crom Alternative Money Payment System |
Crom Alternative Money Payment System provides multi-currency payment system that does not require a credit card
and does not oblige anybody to use official currencies.
In different quantities, Crom is free distributed to every person
with working, pension or unemployment status.
We offer mobile payment system for Euro account.
SSL technology prevents your information from being stolen or intercepted.
Your primary password and transaction password are known only to you and ensures that you are
the sole person who can access the funds in your account. |
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