What would be the best replacement for the current financial system?

[Ethan1]

So... seeing how the current system is setup on the basis of a debt-based economy, fiat currency, and a fractional reserve system. 
With the current ("Real time") debt clock showing: $31,000,000,000.00 
usdebtclock.org

Considering recent governmental sequestrations, furloughs, raising debt limits, QE, and "failure" to balance the federal budget for decades. Or is this all a collective gaslight in regard to LIBOR rates, Fed Fund rates, and the entire stock market system of valuation? Seeing how most assets are in bubbles and comparing market-values to book values & p/e ratios. Where the whole system is supported by the belief of a dollar. Including the recent idea of digital currencies. What system is there to restructure such a dynamic system? I mean, what other ways are there to re-organize and re-systematize the current system?  

Is it possible to create a debt free system? Eradicate the entire concept of debt? Which means eradicating the concept of money?  Debt = Money

Get rid of the stock market & wall street all together? Replace it? 

What system could realistically replace the current system to help the average person? 

What's the reality of there actually being change to a more utilitarian system? Any realistic time frame from this present moment? 

What are realistic actions people should take to create a positive change to a more socially cohesive system?


 

Edited October 15, 2022 by Ethan1

[Sucuk Ekmek]

 

[aurum]

@Ethan1 It’s a super complex question, one that requires deep technical and theoretical understanding to undertake. You can’t just casually dabble in a question like this and hope to get serious answers.

Here is Jim Rutt giving a presentation on his thoughts. I’m not saying I agree with his ideas per say, but just to show the complexity of what we are dealing with: It’s difficult for even me to understand and I have a Masters degree in financial economics. And this video only really scratches the surface.

 

[Gidiot]

We humans think we are so clever with our theories of value and money systems but how come nature doesn’t struggle with making a living and greed? If this money system is so perfect how is there a possibility of inflation and recessions shortages and debt wage slavery, I don’t think there is a good answer. But I would suggest maybe a system which makes it illegal to save too much money if there is a limited amount oin circulation. That’s a start, and also getting rid of cash altogether. Fuck social credits, give people there basic needs if you can and then allocate resources based on conscious thought and creativity. Take the game out of money, make it more neutral, less of a symbol of power status and intelligence and more of a symbol of a resource. But hey I don’t know shit I’m just a useless hippy with no real world value and mad at the system because I can’t make money doing what I enjoy, so I’m doomed to die. Great system eh?

[Wilhelm44]

Financial system exists the way it does as created by overall scarcity mindset in collective consciousness. One day there there will be tipping point towards the truth of consciousness as pure abundance, and the need for any kind of financial system will become less and less.

[mr_engineer]

I think it's cryptos. 

People bring up the issue of security/hacking. I think that the technology to protect against that is either already there, or it'll get there shortly. 

If regulation happens algorithmically, there is no possibility of corruption. 

[Tyler Robinson]

Barter 

[integral]

Let’s imagine a simple scenario a neighbouring country wants to invade you so they mass print money and use that money to create a huge army 10x your country’s army. What do you do to defend yourself?