The key to solving the world's economic problems is to create a new currency that is a stable store of wealth.
San Francisco, CA (PRWEB) April 20, 2011
InformedPoints, the currency used by the online forex trading forum InformedTrades.com, has gone 30 consecutive days without a decline against the US dollar. In other words, the InformedPoints/US Dollar exhange rate has remained flat or risen in favor of InformedPoints every day for the past month. And in the past seven months since InformedPoints moved to a free-floating exchange rate policy, the currency has risen in value by over 14% against the US dollar. InformedPoints, whose value is pegged to a currency trading account managed by the community's founder and central banker Simit Patel, operate analogous to a real world currency, in that they can be exchanged for legal tender.
The success of the InformedPoints experiment thus far has InformedTrades Central Bank dreaming of a much larger goal: to re-build the world's money supply and solve the global economic crisis. "The key to solving the world's economic problems is to create a new currency that is a stable store of wealth," Patel said. "Strong currencies make it easier to pay off debt, build savings, and increase consumption -- while also reducing income inequality. The central banks associated with nation-states and the G20 economy lack both the desire and the understanding of monetary economics needed to create a strong currency, as evidenced by the impact of their policies. To wit, the World Bank itself recently put out its estimate that an additional 44 million people have entered abject poverty since the crisis of economic 2008, suggesting central banks are struggling to fulfill their duty of ensuring economic stability. It is my opinion that the time has come for a new economic system, as the current one simply is not working for the world at large. Fortunately, the Internet allows for the creation of new currencies, new communities, and new economies -- economies that can displace older ones and set the stage for the dawning of a new era of global prosperity."
As central banker of the InformedTrades community, Patel establishes monetary policy for InformedPoints with the goal of creating a strong currency, carefully modifying the holdings that InformedPoints are pegged to as needed so as to enable a safe and conservative rise in value. Patel's background, which includes over 9 years experience in the foreign exchange industry and spearheading the creation of InformedTrades University -- home of the largest collection of free courses on trading and financial markets on the web (including the community's comprehensive free video forex course) -- has provided him the skill set needed to execute this monetary policy.
The next step for InformedTrades Central Bank is to spread InformedPoints far and wide -- primarily by establishing other online communities and economies, as well as facilitating convertibility into other currencies through the issuance of debit cards. Moreover, InformedTrades Central Bank also plans to hire staff that are compensated in InformedPoints. "The mandate of every central bank is to ensure price stability and full employment," Patel said. "InformedTrades Central Bank is no different."
To purchase InformedPoints or inquire about being a part of the mission to use InformedPoints to rebuild the global economy, visit InformedTrades.com.
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