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eculating on the survival (or not) of Saddam himself.

Finally, commodity money is undergoing a more direct revival thanks to theorists of green economics, natural capitalism and global resource banking, some of whom suggest a form of money based on ecological yield. They argue that the outputs of 'natural capital' are the only genuine commodities - air, water, and calories of renewable energy we consume being mostly interchangeable when they are free of pollution or disease. However, such goods cannot be held directly, and so it is common to suggest that representative money be issued based on enhancing and extending nature's services, giving one the right to receive the yield as a benefit. They argue that reframing political economy to consider the flow of these basic commodities first and foremost, avoiding use of military fiat except to protect 'natural capital' itself, and basing credit-worthiness more strictly on commitment to preserving biodiversity rather than repayment of debt, as in the current global credit money regime anchored by the Bank for International Settlements, would provide measurable benefits to human well-being worldwide.

Some seek to replace the B.I.S. with a Global Resource Bank to manage global resources 'outside national jurisdiction' for global benefit. Others would replace the 'gold standard' with a 'biodiversity standard'. It remains to be seen if such schemes have any merit other than as political ways to draw attention to the way capitalism itself interacts with life.

Critics of this type of proposal often note that, as with other transitions from commodity to representative money, inadequate substitutes will be made on a 'just trust me' basis - as per Gresham's Law which states that bad money drives out good. Other proposals, such as time-based money, rely on the availability of human labor as a commodity, especially within a community, which is presumably harder to guarantee access to, but also harder to steal. Still others deny the utility of co modifying labor as such, and suggest making free time the standard, since physical capital used for leisure, sport, art, theatre, and other forms of play is co modifiable and possible to control.

Credit Money信用货币
Credit money refers to money that constitutes future claims of a valuable item against an entity. The holder of credit money can use it to purchase goods and services; when the holder wants to, he or she can redeem it to get the item by which it is backed. Credit money is made of a material that has low intrinsic value compared to the value it represents when exchanged. Some types of credit money include IOUs, bonds and money market accounts. Some people also consider paper money and coins to be credit money because they have no intrinsic value and can be exchanged for valuable commodity.

To illustrate how this concept came about, consider English goldsmiths, who centuries ago used to keep deposits of precious metals. They issued paper notes to those who deposited gold or silver for future redemption. These goldsmiths realized that they did not need to completely back their notes with precious metals because only a small fraction of holders come back to convert their notes. The goldsmiths then issued non-backed notes as loans to people who needed funds and received profits from interest payments. These notes constituted the early form of cred