by
Mervyn King
[...] Someone buying a meal in a restaurant might use a card, as now, but the result would not be a transfer from their bank account to that of the restaurant; instead there would be a sale of shares from the diner's portfolio and the acquisition of different shares, or other assets, to the same value by the restaurant. [...] There would be no unique role for something called money in order to buy 'stuff'.
this passage kinda boggles the mind (I say so now, but I think I felt similarly when I first read this) cus how can you imagine such a strange concept (which is really functionally equivalent) but not then take the next step of asking why such a transfer is needed at all???? it's still money??? like that startup that tried to get people to do favours for each other in exchange for virtual currency (which they called karma I believe). why is it necessary to transfer wealth in order to support production or consumption??? DRIFT i'm telling you