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Table of contents.

  1. Money.
  2. Good money.
  3. Free money.
  4. Egalitarian money.
  5. Price control.
  6. Perfect knowledge.
  7. Trade comment.
  8. No debt of good money.
  9. How to introduce good money.
  10. Minimum wage.
  11. Job guarantee.
  12. No tax money.
  13. No bad currency union.
  14. Other opinions about money.

Money.

Money has 3 useful functions:

Good money.

The traits of good money:
  1. Good money represents (accounts) the wealth of the society.
    Good money does not represent (account) debt.
    Good money does not limit the economy.
    Economies and societies using only tax money and debt money are typically limited by a lack of good money and by a lack of a good distribution of good money.
    Good money is free money.
    Free money.
    Price control.
  2. Good money is egalitarian.
    Egalitarian money.
  3. Good money is digital money. Unlike cash money that can not be used as good money.
    Unlike Bitcoin that can not be used as good money.
  4. Good money can be saved without loss.
  5. Good money can be spent without loss.
  6. Good money can be moved from account to account without loss.
  7. It does not matter if persons cooperate in the same organization (e.g. within a company) or in different organizations (e.g. between companies).
  8. A negative amount of good money per account is not possible.
    A movement of money is not made if it would lead to a negative amount of money on an account.
  9. Good money is distributed as wealth and not as debt.
    This prevents lack of investment and negative interest rates.
    This prevents harmful debt and harmful debt crises.
    No debt of good money.
  10. Good money (currency) is not dependent on other currencies.
  11. The Lustysociety does not promote bad currency unions.
    No bad currency union.
  12. AFAIK the only way to cheat the system is to receive the basic income more often than intended by the money maker.
    The only way to prevent cheating is the abolition of bad privacy.
    Privacy.
    The money system will probably use identity cards and/or other information to ensure only one basic income per person per income period.
  13. AFAIK there are no rules that promote unfair activities or unfair advantages.
    Some classic taxes promote unfair activities and unfair advantages.
    Not every person can optimize taxes and the ownership of money.
    All states offer or impose arbitrary harmful unfair taxes.
  14. AFAIK there are no rules that promote wasteful activities.
    E.g. no promotion of spending of money to avoid a loss of money without benefit.
    Some classic taxes promote certain activities to avoid a loss of money without benefit.
  15. AFAIK there are no rules that require very expensive or slow computations by computers.
    Classic money and accounting and taxes require very expensive and slow computations by persons and computers.

Fed Secretly Bailing Out Banking System AGAIN! (2019-10-31), time 200.

The Global Minotaur: The Crash of 2008 and the Euro-Zone Crisis in Historical Perspective (2011-11-12).

Free money.

Free money is created for free as wealth and not as tax (redistribution, theft) and not as debt.

Free money is tax free.
No tax.

Free money is debt free.
No debt of good money.

Good money represents (accounts) the wealth of the society.
Good money does not represent (account) debt.

r/basicincome: Comment: lustyperson (2020-01-23).

Keiser Report: All Rescue Roads Lead to the Elite (E1492) (2020-01-23). About spending.
r/basicincome: Keiser Report: All Rescue Roads Lead to the Elite (E1492) (2020-01-25).

Egalitarian money.

wikipedia: Egalitarianism

The needless excuses against health and wealth and for poverty and austerity and for infinite waste of health and wealth now and in the future:
Lack of egalitarian money promotes evil and ineptitude and poverty and austerity.
Evil.
Inept.

The Lustysociety promotes egalitarian money that enforces basic riches per person.
Rich.
The Human Rights

The Lustysociety promotes:

Why a basic income for persons who do not sell.

Why money as gift to a person who does not sell any good or service?

Because:

Why a basic income for young persons.

Because:

Why a basic income for rich persons.

Because:

Price control.

1 money unit should be the smallest practical amount.
The practical use of 1 money unit is the only concern of the money maker regarding prices.

That some good or service costs 10^12 money units is not a concern of the money maker regarding prices.
Money flows from buyer to seller.
Money accumulates where revenue exceeds spending.
The rich become richer.
The society and money maker should not care about rich persons.
The society and money maker should not care about the prices of non-basic goods and services.

Some factors that affect offer and demand and prices of goods and services:
Wealth is not a problem.
Rich persons are not a problem.

Poverty is a problem.
Rich.
The Human Rights

Debt is a problem.
No debt of good money.

Evil is a problem.
Evil.

Ineptitude is a problem.
Inept.

Lack of good government and science and technology is a problem.
Politics.

Inflation.

wikipedia.org: Inflation
In 2019, most economists do not understand inflation and promote wrong conclusions.

Cause of inflation in a society with classic debt money.

Inflation is caused by an increase of prices by sellers.
Inflation is not caused by the ability of buyers to pay.

That a buyer has more money than before:
More money in the economy does not lead to inflation if the money is not available to enough potential buyers and if the sellers want to sell affordable goods and services.
Chapters with related information:

Example 1

Would a UBI lead to increased prices of housings?
Maybe.
But it will not matter because better housing will be available to those who need it.
More people have money to buy or rent housing and thus increase prices.
trofire.com: 3.5 Million Americans are Homeless. 18.6 Million Homes are Empty. WHAT’s WRONG? (2015-07-21).

Example 2

Would a UBI lead to increased prices of useful goods and services?
Probably not. Production of useful goods and services are mostly affected by automation and competition.

Example 3

Would a UBI lead to increased prices of useless prestige goods and services?
Probably. But it does not matter. What matters are useful goods and services.

Conclusion

The UBI benefits the less rich persons the most.
Even with inflation, everyone except maybe the richest would benefit from a UBI.
The richest might not benefit from the UBI because:
Of course inflation depends much on how the debt mmoney is paid back and destroyed.

Cause of inflation in a society with good money.

Good money.

1 money unit should be the smallest practical amount.
The practical use of 1 money unit is the only concern of the money maker regarding prices.
Inflation is promoted when the cheapest things become cheaper relative to other things.

Yanis Varoufakis: Live at Politics and Prose (2018-01-01).
Yanis Varoufakis with Ruth Wishart at the Edinburgh Book Festival, August 18, 2018 | DiEM25 (2018-09-24).

Perfect knowledge.

wikipedia.org: Perfect information

No secrets related to commerce and trade and (money) ownership.
All transactions with money are registered by computers and accessible to all for free.

There must be no bad privacy.
Privacy.

The Lustysociety promotes automation and perfect knowledge and the abolition of bad privacy.
Therefore digital money and a trade comment for every trade.

Good money is implemented in a useful efficient open way.

Unlike harmful secretive wasteful inefficient currencies like cash money.

Unlike harmful secretive wasteful inefficient currencies like Bitcoin.
Bitcoin can be profitable for early adopters because the amount of Bitcoins is almost limited by design.
Bitcoin is not fair.
Bitcoin is not useful for an economy because Bitcoin is a limited deflationary currency that is not under benevolent control. It is technically not possible to create arbitrary Bitcoins for good purposes.
Bitcoin is technically slow and wasteful.
Bitcoin Energy Consumption Index.
reuters.com: China wants to ban bitcoin mining, traders say move not a surprise (2019-04-09).
HN: EU charges eight banks over alleged government bond cartel (2019-02-01).
Article: EU charges eight banks over alleged government bond cartel (2019-01-31).

Trade comment.

The Lustysociety promotes automation and perfect knowledge and the abolition of bad privacy.
Therefore digital money and a trade comment for every trade.

A trade comment is stored in a computer system and contains:
A trade comment should enable:

No debt of good money.

Instead contracts and investments that grant the right to share profits.
wikipedia: Shareholder
wikipedia: Return on investment

Debt is bad.
Debt is a trap.
Debt promotes bad economic relations and bad use of wealth.
Debt leads to debt crises.
Debt crises are harmful because of the distress and destruction.
Debt crises are harmful because of the redistribution of money (e.g. bailouts, public debt to pay for bailouts) and real wealth (e.g. shares of companies, real estate) to the richest persons.

Therefore debt of good money is illegal.

No creation of money as debt.
Banks must not create money.
Banks must be profitable by investing only existing good money.

Banks must not be protected in any special way.
If needed, banks must protect themselves by insurances.

economicpopulist.org: TBTF Banks Get $83 Billion a Year Taxpayer Subsidy (2013-02-26).

zerohedge.com: America's TBTF Bank Subsidy From Taxpayers: $83 Billion Per Year (2013-02-20).

vox.com: Banks made record profits last year thanks to the Republican tax cuts (2019-02-22).
The debt money system:
The FDIC Illusion of Insured Bank Deposits.

Video: Theresa May: "There is no magic money tree" (2017-06-03).

Magic Money Tree.

How Banks Create Money.

The Web Of Debt.

The Global Minotaur: The Crash of 2008 and the Euro-Zone Crisis in Historical Perspective (2011-11-12).
Markets Don't Supply According to Demand - Professor Richard D Wolff (2011-12-11).

Taibbi: Is LIBOR, Benchmark for Trillions of Dollars in Transactions, a Lie? (2015-08-11).

Coping with crisis. Yanis Varoufakis. Plenary 11 at PLSA Investment Conference 2016 (2016-03-11) time 13.

Yanis Varoufakis - Europe's Crisis and America's Economic Future (2016-05-03).
GAIM interview Yanis Varoufakis about democracy and investing (2016-08-12) time 39.

Ten Years After the Crash, We’ve Learned Nothing (2018-09-13).
Why Is the Fed Paying So Much Interest to Banks? (2019-04-01).
HN: 'It's crazy': Chase forgiving all debt owed by its Canada credit card customers (cbc.ca) (2019-08-09).

HN: Danish bank launches world’s first negative interest rate mortgage (theguardian.com) (2019-08-14).

HN: Yield Curves Invert in U.S., U.K (bloomberg.com) (2019-08-14).

Fed Secretly Bailing Out Banking System AGAIN! (2019-10-31), time 200.

Discussion on r/basicincome (2019-11-06).

Keiser Report: All Rescue Roads Lead to the Elite (E1492) (2020-01-23). About spending.

Keiser Report: The one good thing about the Fed (E1493) (2020-01-25).

Keiser Report: QE 4Ever (E1494) (2020-01-28).

Keiser Report: Dethroning the Dollar (E1495) (2020-01-30). Global debtosphere, 3-4 times of global GDP.

How to introduce good money.

Good money is added to the price to pay for a good or service.

As the good money becomes more needed and more valuable, other currencies become less needed and less valuable.

Minimum wage.

The Lustysociety promotes a good basic income.
Egalitarian money.

IMO a minimum wage is not profitable.
Profitable means that the benefits are greater than the costs.

Job guarantee.

A windmill is an example of automated work by machines.
Automation.
Humans Need Not Apply (2014-08-13).
Capitalism is unfolding exactly as Karl Marx predicted (2018-05-05).

Many activities by humans are not profitable.
Profitable means that the benefits are greater than the costs.
wikipedia.org: Opportunity cost
It is often impossible to predict and judge what activity is more profitable if the future is taken into account.
Why basic riches must be granted.

The Lustysociety promotes a Job Guarantee that is profitable.
The Lustysociety tries to become an organizer of profitable activities.

A Job Guarantee can be profitable because the government can be an organizer of profitable activities paid by good money.
Good money.

The Lustysociety promotes a good basic income.
Egalitarian money.

Without a good basic income and thus without a good choice to refuse, there is only wage slavery and workfare and no guarantee.
wikipedia: wage slavery
wikipedia: workfare
wikipedia.org: Socialism: To each according to his contribution
The common preferences of socialists: work, union, conformity, authority, class, war, wage slavery (because people are lazy).

wikipedia.org: Karl Marx: From each according to his ability, to each according to his needs
Karl Marx was not a socialist.

The Monsters, Inc. Argument for Basic Income (2018-12-11).

Why Bernie Sanders should support Basic Income (10 Reasons) (2016-07-30).

Many do not understand the need and benefit of a good basic income and promote a Job Guarantee without good basic income.

Examples:
There is no guarantee that the government is an organizer of profitable activities paid by good money.
The democratic majorities in most or all countries are evil and inept.
Evil.
Inept.
School.

wikipedia.org: Socialism: To each according to his contribution
The common preferences of socialists: work, union, conformity, authority, class, war, wage slavery (because people are lazy).

wikipedia.org: Arbeit macht frei

r/YangForPresidentHQ: Comment about Bernie Sanders: lustyperson (2020-01-25).

Andrew Yang at Muscatine Town Hall - Live Stream (2020-01-23) time 1142.
About the value of a human beyond market valuation.

A conversation with Yanis Varoufakis on post-capitalism and the future of democracy | DiEM25

r/basicincome: Comment about the failed job guarantee in the Netherlands. (2019-09-25).

r/basicincome: Universal Basic income . Andrew Yang’s “Freedom Dividend” is more relevant. Bernie calls it federal guaranteed jobs. (2019-10-07).
theguardian.com: Jobactive workers speak out: 'How the hell did I end up doing this to these people? (2019-10-26).
It is easy and quick to distribute a good basic income to an existing economy.
Poverty and retardation damage everyone and everything now and in the future.
Good change determines life and death of sentient beings every second.

It is not easy and quick to become an organizer of profitable activities.
This requires profitable intentions and plans and skills and work and time and money.

USA: Job training.

Andrew Yang's Powerpoint Presentation (2020-01-22) time 1020.

Andrew Yang at Muscatine Town Hall - Live Stream (2020-01-23) time 416.

Haiti.

How the Red Cross Raised Half a Billion Dollars for Haiti ­and Built Six Homes (2015-06-03).
HN: Red Cross Raised Half a Billion Dollars for Haiti ­and Built Six Homes (2015) (2019-04-01).

inthesetimes.com: 10 Years Ago, We Pledged To Help Haiti Rebuild. Then What Happened? (2020-01-12).
Keiser Report: All Rescue Roads Lead to the Elite (E1492) (2020-01-23) time 404. About Haiti.

Afghanistan

Confidential documents reveal U.S. officials failed to tell truth about war in Afghanistan (2019-12-09).
Obama/Bush/Trump Lied Repeatedly About Afghan War-- Documents Reveal (2019-12-11).

~272~ Entire Afghanistan War A Fraud, Rich People Scrubbing History (2019-12-20).

9/11.

Of course the US government is evil and inept.
Of course the democratic majorities in most or all countries are evil and inept.
Evil.
Inept.
School.

Marshall Plan

wikipedia.org: Marshall Plan

Confidential documents reveal U.S. officials failed to tell truth about war in Afghanistan (2019-12-09).
Europe has destroyed and rebuilt itself with the help of the USA by goods and services and profitable money.

1930s: Ford, GM, IBM, and the Nazis (2014-02-17).

George Friedman, "Europe: Destined for Conflict?" (2015-02-04).
'Primordial' US goal is to divide Russia and Germany: Stratfor Founder CEO George Friedman (2016-07-15).

Propaganda, lies and war in Europe.

The Global Minotaur: The Crash of 2008 and the Euro-Zone Crisis in Historical Perspective (2011-11-12).

George Orwell: Nineteen Eighty-Four: A Novel

wikipedia.org: Nineteen Eighty-Four

9/11.

Why Trump's Iran Conflict Cannot Be Stopped Or Unwound (2019-01-09).
yahoo.com: Where Did This George Orwell Quote About War Come From?
metabunk.org: Debunked: War is not meant to be won, it is meant to be continuous.
I do not agree with George Orwell about the purpose of war.
Wars (political, economic, military) are useful to destroy weapons and to conquer resources (e.g. land, fossil fuel, wage slavery).
Weapons are an important source of income for the military industry.

I agree with George Orwell about:

No tax money.

No tax money because:

Value added tax (VAT).

No tax money.

Among all taxes, the VAT is the most reasonable tax because it is a tax on destruction (by consumption) and not a tax on production and profit.
wikipedia: Value-added tax
Buying a consumable product (good or service) means to destroy it.
Buying a consumable product is taxed by the VAT.
The buy and destruction of wealth of a society is accompanied by an extraction and destruction of money of the society by the VAT.
Less wealth in the economy, less money in the economy.
This can reduce inflation.
Price control.

In general:

An egalitarian solution is important.

wikipedia: Negative income tax.

The goal is not austerity.

wikipedia: Negative income tax.

A tax is a poverty trap.

wikipedia: Poverty trap

Reddit: Five Star ‘citizenship income’ will create a poverty trap, Van Parijs says, recommending UBI instead (2019-04-02).
Article: Five Star ‘citizenship income’ will create a poverty trap, Van Parijs says (2019-03-29).
wikipedia: Negative income tax.

No bad currency union.

wikipedia: Currency union.

A currency union is harmful because of harmful problems that are promoted by harmful experts:
In a way, Greece suffers from the Dutch disease.
wikipedia.org: Dutch disease
In Greece, not oil but debt was the problem besides bad politics.

Debt is particularly bad if the currency of the debt is not under control of the debitor.

A stable healthy wealthy self-determined autarkic organization (state, society) is necessary as protection against social and economic and military attacks and warfare by competing organizations.
Examples of war and war preparations:
A conversation with Yanis Varoufakis on post-capitalism and the future of democracy | DiEM25 (2020-01-07) time 419.
The Lustysociety recommends:

Other opinions about money.

Yanis Varoufakis - The Universal Dividend and Basic Income.

I have added a different critique (first edition: 2020-01-11) to the possibly different Universal Dividend system.
Critique: DiEM25: Welfare Dividend system.

Video: Yanis Varoufakis: Basic Income is a Necessity (2016-05-07).

Video: Yanis Varoufakis - The Universal Dividend and Basic Income (2017-10-22).

Video: DiEM25 presents The Real State of the Union - Brussels Sept 2017 (2019-03-23).

Video (original): DiEM25: The Real State of the Union, Brussels (2017-09-09) time 6204.

Text: DiEM25's European New Deal (2017-02-17).
Text: New Deal for Europe (2019-01)
IMO:

I like that the state buys shares of companies for investment and ownership and for later dividends to redistribute money.

Still, there are important problems and choices regarding the Universal Dividend:
  1. Is the Universal Dividend enough? And when?
    Besides: Will Amazon Ever Pay A Dividend? (2019-03-21).
    No proposal is good enough if it does not propose the abolition of wage slavery and modern poveerty ASAP.
    Basic riches must be granted to every person at any age except prisoners.
    Rich.
    Besides:
    How to know what part of the profits is realized by machines?
    Are there special computations to determine the Universal Dividend?
    These questions matter because, according to the video Yanis Varoufakis - The Universal Dividend and Basic Income, Yanis Varoufakis might want to redistribute only the profits generated by machines and not by humans.
    When should the sane morality and culture begin that a human is welcome even without paid work?
    When should the sane morality and culture begin that a human works for fun or for the society and not only for selfish personal economic wealth and superiority and for social pride and superiority?
  2. There is no initial public offering (IPO) for the current giant companies that most likely remain the dominating giant companies in the future. At least this century.
    The Universal Dividend does not retrieve money from these companies.
    Should the European Central Bank (ECB) create money to buy shares of existing giant companies?
  3. Buying shares means investment in the company.
    What companies are invested in?
    Is there potential for corruption?
    How is decided what companies are supported with how much money?
    Will investments depend on buzzwords, personal relations, geo-political power concerns, marketing and isegoria?
    Yanis Varoufakis with Ruth Wishart at the Edinburgh Book Festival, August 18, 2018 | DiEM25 (2018-09-24).
  4. Do citizens of the EU want investment in and owning of private companies by the Universal Dividend manager?
    Do citizens of the EU want investment in foreign companies instead of national companies?
    Does the rest of the world tolerate investment in and owning of private companies by the Universal Dividend manager?
    Does the USA tolerate US companies to be owned (partially) by the Universal Dividend manager?
    Does China tolerate Chinese companies to be owned (partially) by the Universal Dividend manager?
    Should a company be owned by many governments?

Winds of Change: The Case for New Digital Currency.

Winds of Change: The Case for New Digital Currency (2018-11-14).
By Christine Lagarde, IMF Managing Director, Singapore Fintech Festival.

Quotes:
  1. Christine Lagarde:
    A state-backed token, or perhaps an account held directly at the central bank, available to people and firms for retail payments? True, your deposits in commercial banks are already digital. But a digital currency would be a liability of the state, like cash today, not of a private firm.

    IMO:
    Debt is bad. Good money is wealth and not a liability.
    But debt and money owned by a benevolent organization is still better than:
    • Debt and money owned by harmful organizations like e.g. the ECB of the Eurozone or certain member states of the Eurozone.
      The destruction of Greece – the slow-burn decline of a nation (2018-10-09).
      • Quote:
        In the case of Greece, the Troika inflicted such harsh policies that, not only has the material prosperity of the nation been trashed, but now, evidence is emerging that the underlying physical and mental health of the people has been significantly damaged. One step short of genocide. The slow-burn destruction of Greece and its people continues.
    • Debt and money owned by a merciless purely profit oriented bank that is in competition with other banks and thus without full market control and thus without motivation to increase the wealth and prosperity of everyone.
  2. Christine Lagarde:
    Let me start with financial inclusion, where digital currency offers great promise, through its ability to reach people and businesses in remote and marginalized regions. We know that banks are not exactly rushing to serve poor and rural populations.

    IMO:
    I agree. No initial distribution of public money as debt owned by private banks.
  3. Christine Lagarde:
    Without cash, too much power could fall into the hands of a small number of outsized private payment providers. Payments, after all, naturally lean toward monopolies—the more people you serve, the cheaper and more useful the service.

    IMO:
    This is silly and false and misleading.
    Cash money can be abused more easily by harmful governments and companies.
    Example: Greek debt crisis: the key points of Athens bank controls (2015-06-29).
    Online payment providers and users want trades but are limited by harmful governments.
    Examples:
  4. Christine Lagarde:
    Consider a simple example. Imagine that people purchasing beer and frozen pizza have higher mortgage defaults than citizens purchasing organic broccoli and spring water. What can you do if you have a craving for beer and pizza but do not want your credit score to drop? Today, you pull out cash. And tomorrow? Would a privately-owned payment system push you to the broccoli aisle?

    IMO:
    No initial distribution of public money as debt owned by private banks.
    Instead money should flow to producers of healthy wanted products by markets regulated by beneficial entities.
    Good money as basic income.
    Talk - Howard Lyman - Plain Truth from the Cattle Rancher Who Won't Eat Meat (2010-03-12) time 432.
  5. Christine Lagarde:
    Would central banks jump to the rescue and offer a fully anonymous digital currency? Certainly not. Doing so would be a bonanza for criminals.

    IMO:
    I agree.
    Good money allows perfect knowledge for all for free.
    No bad privacy.
    Of course this "extreme stand" is not what Christine Lagarde had in mind.
  6. Christine Lagarde:
    This brings me to my third area—the potential downsides of digital currency. The obvious ones are risks to financial integrity and financial stability. But I would also like to highlight risks of stifling innovation—the last thing you want.

    IMO:
    Basic riches must be granted to every person at any age except prisoners.
    Rich.
    Of course Christine Lagarde addressed the financial industry present at the Singapore Fintech Festival.
  7. Christine Lagarde:
    Let’s return to the tradeoff between privacy and financial integrity. Could we find a middle ground?

    IMO:
    There is no good middle ground.
    Good money allows perfect knowledge for all for free.
    No bad privacy.
  8. Christine Lagarde:
    The second risk relates to financial stability. Digital currencies could exacerbate the pressure on bank deposits we discussed earlier.

    IMO:
    Good money should be accepted by persons because the money and the money provider serves them well.
  9. Christine Lagarde:
    If digital currency became too popular, it might ironically stifle innovation. Where is your role if the central bank offers a full-service solution, from digital wallet, to token, to back-end settlement services?
    What if, instead, central banks entered a partnership with the private sector—banks and other financial institutions—and said: you interface with the customer, you store their wealth, you offer interest, advice, loans. But when it comes time to transact, we take over.

    IMO:
    The role and profit of the financial industry present at the Singapore Fintech Festival should have no importance at all.
    Only the benefit of money for the society should matter.

A conversation with Yanis Varoufakis on post-capitalism and the future of democracy | DiEM25

A conversation with Yanis Varoufakis on post-capitalism and the future of democracy | DiEM25 (2020-01-07) time 419.

Critique: DiEM25: Welfare Dividend system.

IMO how this scenario is different from what we have in 2019:
IMO how this scenario is similar to what we have in 2019:
IMO the problems with the Welfare Dividend system:
Comparison between the Welfare Dividend system and the proposed Good Money system.