Bank Of Italy Warns Citizens Against “Creating Your Own Currency”…(Ed. Note…Have Meetings In Denver Today…Back Later…)
by Louis Cammarosano via Smaulgld.com,
ZeroHedge.com
Jul 18, 2017
Citizens Claim Right to Create Scriptural Euros.
Citizens conjure Euros out of thin air, just like banks.
Because the top cryptocurrencies, Bitcoin and Ethereum are open source, any one can create their own cryptocurrencies.
While the proliferation of cryptocurrencies has central banks concerened, another more insidious and perhaps greater threat to central banks’ monopoly on money creation is the issuance of scriptural euros by citizens.
What are Scriptural Euros?
Scriptural Euros are Euros issued by citizens under a “theory of the autonomous creation of scriptural currency” based on the idea of collective property of money that affirms the right of every citizen to autonomously create “scriptural” money (Euros) via their own accounting records. The theory of autonomous creation of scriptural currency holds that just as banks can conjure debt based money out of thin air, so can citizens.
Money thus created by citizens can then be used to extinguish their own debts.
Apparently, citizen-created euros have been accepted as payment. @marcosabait (Marco Saba) shared his experience on twitter whereby his scriptural Euros were accepted by Facebook as payment for advertising. This correspondence between @marcosabait and Facebook shows how @marcosabait created 25 Euros as payment to Facebook and Facebook accepted the citizen issued Euros as payment.
The Rest…HERE
