With a currency depreciation. All debts in the world would also be paid off at once. Since biblical times this has been people’s dream, an “Jubilee”. Wouldn’t that be an incentive?
At the moment, an unimaginable amount of money is being printed around the world to support the economy, which in the wake of the Corona crisis cannot sell as much as in good times.
In such situations, however, there is always the risk of inflation. Inflation is associated with chaos. We must not wait for something like this to happen, we can prevent it with targeted currency devaluation.
Currency devaluations have occurred several times in history. Most recently in Germany after World War II and when the GDR’s money disappeared. So this is nothing new. What is new is that there is no substitute currency. The money is really gone then.
Almost all countries in the world are in debt. It goes without saying that all citizens of these countries are therefore indebted, whether we want to admit it or not. The average European debt averages € 25,000, although there are big differences. That is as much as the average amount of savings of at least half of all residents. This fact can probably be generalized for all industrialized nations. Should the banks demand their money back, all citizens would have to pay. In the non-industrialized nations, people’s financial conditions are likely to be even worse.
Most people save money not for their own sake but to make provisions for the future. In a voluntary society you don’t have to make provisions for the future, as you are naturally provided for until the end of your life. Similar to the social network in the solidarity community. You don’t have to pay 100,000 euros for an surgical intervention because everyone contributes to it. In the voluntary society this affects all areas of life. So it doesn’t matter if the savings are gone.
How often have people already lost their savings without having any advantage. As a result of market-induced currency crises, or worse, when savings are taken by war. In the gift-economy you no longer need savings because we care for one another. Our great-grandchildren will laugh at our efforts to put money aside for rainy days..
In the event of a democratic vote on the abolition of money, an approval could be expected with certainty.
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