Ok. You don't believe merchants would accept such a money. A common approach.
With bitcoin and freicoin in circulation, merchants would prefer to be paid in bitcoins, but buyers would prefer to spend freicoins first.
That's our current inflationary currency versus gold scenario...
What's to stop me from asking them to pay me back more (interest), besides competition from other money hoarders?
Only competition with other money hoarders. But these time all hoarders have the same disadvantage (or lack the same privilege) when negotiating with borrowers and that is that free-money rots like carrots.
And that's fiat money in high inflation (hyper-inflation?) economies...
Where is that metaphor?
In the pdf:
Um... I don't get it... There's nothing explaining where the prices are coming from, or what they are, in the financial viewpoint section...