The best way to explain a digital monetary system is to use a Wiki. Bitcoin and Ripple are monetary systems that have explanatory wikis components in the structure of their websites
The Bitcoin Wiki is here at this link.
Bitcoin is the sponsor agency of the Bitcoin system.
The Ripple Wiki index is here at this link.
Ripple Labs (Open Coin Inc.) is the sponsor agency of the Ripple system
The Bitcoin Wiki describes the Ripple System at this link.
The Ripple Wiki has an introduction to Ripple for Bitcoiners at this link.
Wikipedia describes Bitcoin here and it describes Ripple here.
My digital monetary system does not have a Wiki but I examined the need for one in this blog entry.
Bitcoin and Ripple each have a website sponsored Wiki describing them. BTC is the name of the Bitcoin monetary system unit of value analogous to the US Dollar. The Ripple system name for an internal system unit of value is XRP. The Ripple external unit of value is any existing currency of choice including Bitcoin system BTC.
Wikipedia describes the US Dollar at this link. If you looked at the Bitcoin and Ripple Wikis or their Wikipedia description I am sure you would say: "Where's the Beef?" Bitcoin and Ripple describe themselves systemically in related wikis. The Beef is there but it is a thin little patty called "Means of Issue" lost in all the bun and relish of the Wikipedia description.
There are sponsoring organizations for BTC and Ripples. The sponsoring organization for the US Dollar is the Federal Reserve. Some might say the government but the government gave away its sovereign right to the monetary system to the Fed and is (as in We) hostage to the debt money banking system.
Surprise! There is no Federal Reserve sponsored wiki. Wikipedia however fills that void by Wikipedia description of the Federal Reserve monetary system at this link. The Federal Reserve is not an open system. There is a .gov site here describing the Federal Reserve Board. That small public foot in the door of a private banking system represented a the top of operational monetary system command and control by the Federal Reserve Bank of New York.
There is no wiki created and maintained by a responsible sponsor agency of the US Dollar monetary system. We are not even quite sure who that sponsor agency is. Not the government. Must be the banking system. The banking system does not intend to reveal itself in a wiki for which they are responsible for a simple structured presentation of the banking system. They leave that to collective explanation by economists, each in their own way.
If I was president I would task someone to be responsible for establishment and maintenance of a Wiki for the US Dollar monetary system. Who would I task with that job? The agency responsible for the system, of course! Who is that entity? Start finger pointing here.
What ever agency was unlucky to be assigned responsibility for this undesirable job would have to have a public organizational wikipedia entry for National Debt. Wikipedia describes US National Debt here at this link. Wikipedia is simply an open source structure of public created knowledge. Wikipedia.org has no responsibility for it. Wikipedia is the default explanation for anything that any entity truly responsible for wiki type explanations does not provide in wiki format structure.
This is the Dept of the Treasury website. .gov websites are generally public interface portals focused on services provided and how to obtain services as well as stories about how well they provide them. If I were president I would task every single agency of government that has a public website on the internet to include an agency sponsored Wikipedia for their area of responsibility.
Actually, Congress is the law making body responsible for this mandate. The mandate would apply to Congress itself.
Since there is no Wiki created and maintained by an agency responsible for the US Dollar Monetary System it appears that this wide open opportunity to create a system described by a Wiki to compete with the US Dollar system is the new gold rush!
If I were president I would command (whoever is responsible for carrying out my presidential commands) to have the person responsible for the operation and maintenance of the US Dollar monetary system to be in my office the next day to tell me how it works and leave me with a copy of their comprehensive monetary system wiki, not a power point presentation.
I expect that the next day I would find a command from the NYFRB for me to appear for a briefing at their convenience. No note taking or recording devices allowed.
Bitcoin has a wiki and if I were president I would ask them if they want to rename their monetary unit. Does the President have authority to do that? Who does have that authority?
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