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Community for Tomorrow Responds to

Frequently Asked Questions

Question:  How can you set up money without requiring a third party to perform the accounting, much as a bank would do in warehousing gold or clearing checks?

Answer:  Under ideal conditions where every member of the civilization is honest, there is no need for a clearing house mechanism such as a bank. Unfortunately,  there are individuals that if given half a chance to gain wealth through disreputable means, will do so.

Carrying this over to the discussion of finance, should even one tenth of one percent of the populace misuse a non-clearing house based money, it would collapse in a very short period of time.  So in the simplest terms you need a clearing house mechanism to keep everybody honest. 

The problem is that those who historically have run the clearing house mechanism have eventually used this means to steal from the users through inflation and violate the privacy of the users. That is why so many people in the long run come to distrust the clearing house mechanism, i.e. the banks.

There is a simple and very cost effective solution that will allow the clearing house mechanism to operate correctly without invading the privacy of its users.  Elegantly designed to prohibit its use as the ultimate theft device, the software that will make this possible is well under development.

We will provide further details about this clearing house mechanism in an upcoming segment. 

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