Domenico de Simone

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Domenico de Simone last won the day on August 25

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About Domenico de Simone

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  • Birthday 02/02/49

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  1. Thanks to Magius for introducing me in this topic, and thanks to everybody for appreciating and helping. A necessary premise, is that in this moment there is in Italy a growing debate about complementary currencies and there are several proposals by political parties. The matter is that the most of this people doesn't have any idea about what they are talking, but it's the mode and so everybody must say it's opinion. The other problem is that the Faz Project is based on a theory, and for understand deeply it's working way you must to study a bit, maybe some more than a bit. The most of people, including economist and politicians, like better easy slogans to hard studies. Anyway, the aim of the project is to realize a society in which is possible to give everybody a basic income and to finance economy without interest and debt. It seems a dream but it is scientifically possible. In our project isn't necessary State or any Public administration to participate. The project that we are building in an town of South Italy is founded on a Association of a certain number of enterprises (the most are very little business) and citizens. We found out an organization of 400 business, and for starting are enough, who constitute an Association and a "Consorzio per azioni", a kind of corporate syndication in which every member cannot have more than a little number of shares. The Corporate issue the bonds at negative tax rate ( f.e. ten per cent each year) so that the nominal debt disappear up the time scheduled in the issuing. Those bonds are virtual, as all bonds, and are subscribed by the association that distributes them among the members according to defined technical criteria. A bond issuing at negative tax rate is perfectly legal and doesn't create debt, because the value at the end of the period is almost zero. The members may use those bonds and fraction of them for payment in the community. The idea is to create a rechargeable card in which is possible to have simultaneously the bond and the normal currency, so that the payment may be done using both values. For a certain time (probably a long time), the business can sell their product in Euros and bond, f.e. 50% each. That's because there are many goods that is necessary to buy out of the community, but anyway this means that the most of people may double they spending power. The theory of the project is in our web sites. The project doesn't have boundaries, everybody in the world may participate, even if it starts as a local project and in the beginning the concrete exchanges may occur in the area. Faz is the acronym of Financial Autonomous Zone, and the idea is to build several communities all around the world. After a certain period (not so long) the issuing system is automatic so the project doesn't need a governance. Members are pushed to have cooperative behavior, because it is clear that this is the best way to meet their own selfishness. It would be very interesting to apply the Freicoin /Solidar for the project. We need of course a program for system management, and it isn't easy to built. Thank for your cooperation and understanding.