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Howard Switzer's avatar

The High Middle Ages is when all the Great Cathedrals were built by the people, not the church, the first universities were founded, science, agriculture and innovation flourished all due to the prosperity delivered by a money system in which the money gradually lost value annually then was reissued. It was similar to the grain-based money system using ostraca that provided Egypt with 3000 years of prosperity. Silvio Gesell said money should be issued with a demurrage (a parking fee). This is what was responsible for the astonishing prosperity of Wörgl, Austria in the depths of the depression. Wörgl’s demurrage was paid with a 1% stamp purchased to restore its value monthly while in Egypt and the High Middle Ages the value of the currency was restored annually with the harvest. The monthly fee made Wörgl’s currency circulate at such high velocity they were able to accomplish $2.5 million in public works in 15 months issuing only $6000. The newspapers hailed it as the Miracle of Wörgl. The bank-owned governments banned it world around. https://www.youtube.com/watch?v=6Uz4PRWr3ns&t=2s

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G J Michêl's avatar

Cabal of Theives !

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