We had a system based on assets. It was called feudalism and it wasn't very egalitarian.
Erm, no. It was called the Gold Standard, and it existed as late as 1971 when it was abolished to make way for what we have now. The only time in history we've had social mobility was between 1945 and 1980ish. You know, back when we hadn't exported our highly skilled well paid jobs to the Far East. And now even China is fucked. Have you heard about Occupy Central?
I understand Switzerland are to have a referendum next month to return their currency to the gold standard. It might be worth buying a few worthless pounds worth of Swiss Marks just in case, 'cos when the FIAT currencies go it'll be those asset backed currencies that will be dominant.
The Death Of Money is a good read but its author is ex CIA so I'm not sure about him.
Planet Ponzi by Mitch Feierstein is worth a look too.
What we're seeing is a massive transfer of wealth from the bottom to the top, and that is unsustainable. We're seeing privatisation of everything, and privatisation always costs more. East Coast Rail proves it. If you want to reduce costs then nationalise the utilities, you know, stuff that was stolen from us to give to foreign governments to pay their pensions.