I like the tally system analogy. I think this is the closest description so far of what we are trying to do with Bitcoin. But the tally system of old needed the power of the King to make it effective. How is this done with Bitcoin? By relying on logic.

The King can be deposed, logic cannot. It will always be either true or not true. And that makes it more reliable.

I'm afraid that I don't get the GETS system. It's an exchange, it's global, and so what? Does something like this actually exist? Who is the King that insures its stability? Do I even care now that we have a logical King in Bitcoin?