There is belief, among some, that gold is Divine Money.
Others favour a resource based currency claiming, elimination of usury (interest) and a trust based system of exchange will eradicate many of the major problems of today. Indeed, Critical Thinking’s analysis published in October 2019 suggested as much.
In the subsequent year or so we’ve delved deeper into the fundamental nature of money and its effects. Taxonomy reveals much deeper flaws than usury in money.
In many respects, usury or interest is a consequence of the accumulated human misunderstanding of, and belief in, the value of money.
Where our money (or medium by which we recognise and transfer value) comes from is crucial.
Satanic Money
The term “Satanic” has many levels but in a theological context, Satan loves himself more than God. Thus today’s selfish, competitive money system is Satanic, not least because so many worship money.
We’ve recently discovered two flaws that underpin usury and much more within the current money system:
- the hidden value of Need
- the conviction that when exchanging goods and services, there must necessarily be a corresponding exchange of “money”
These two flaws have several implications, beyond usury, which can be broadly expressed as follows:
proxy resources – rather than the real value (to humans) of resources, goods, services being exchanged or recognised, their value is represented by money. This symbolic representation of value is traded and quickly loses its relationship to the human valuation of the underlying resources, goods and services.
the value of Need is obscured by money in such a way as to allow this value to be appropriated by those who control money, not just through usury, but by virtue of the resulting structure of the global political economy
Impartial, historic, philosophical and many other perspectives suggest we were born to be free, albeit that current structures deny us that freedom.
The fundamental foundation of freedom is unfettered access to the means to life. Existing money and current thinking about money created the structure that denies us that access. Like domesticated cattle, we are dependent on the “farmer” (the structure) for our survival. We’ve been trained and conditioned, through money, to abdicate responsibility for ourselves and each other to the structure.
Our access to money (and the means to life) must be unconditional, if we are to be truly free.
As an aside, there are plans for central banks to issue digital currencies. These plans replicate existing money systems and are thus similarly flawed. Note the distinction between “permissioned” (i.e. under central bank control) and non-permission ledgers. Bitcoin, for example, runs on a permissionless blockchain.
ENabling Tokens
In my last article and accompanying video, The Future of Money, I refer to ENabling Tokens because it’s more user-friendly than Endogenous Tokens.
For the sake of clarity, token means a symbolic representation of value, i.e. money is a token.
From taxonomy, we know that all money has four components: Human(s); Human Activity; Tokens; Ledger(s).
Human Activity involves somebody’s Need, and someone satisfying that Need (though their activity of Create).
- Need is an essential component of value that is hidden by current money.
- If permission, something of value or a guarantee is required in order to satisfy one’s needs, one is denied unconditional access to the means to life, i.e. one is not free.
Example. A baby or someone who is incapacitated doesn’t have the capacity to satisfy their needs directly and yet the infrastructure around them does allow their needs to be satisfied.
In the current system, such humans appear to be seen as an “overhead”, a drain on resources. Yet we know that through the Cestui Que Vie Act, in the UK for example, and the incorporation of governments, we are registered as assets to be monetised through our needs.
In other words, the current system is predicated on the value of our needs and yet the system, not us, is in receipt of that value because it is not recognised nor counted by current money.
Another example of the value of Need is Big Data and its monetisation. Google, Amazon, Facebook and others are making $billions or even $trillions from our needs. Again, the benefit accrues to those controlling money.
Repayment is another condition to be met in order to access the means to life.
All money is created on the back of belief in its value.
Current money is “invented” and ascribed a value which is to be repaid (yes with interest but that is not the “main event”). In essence banks create money out of thin air and then insist on its repayment.
Whereas, the concept of endogenous tokenisation is not exchange and repayment but ledgers and tokens acting as the lubricant and catalyst for creation and trade in which Need and Create are valued equally.
Those “Creating” may, at first glance, feel this is unfair. “Why is someone who does nothing to contribute to my creation activity get half its value?”
- Without Need or consumption, there is no value in Create or production.
- The value is not divided when using ENabling Tokens (and endogenous ledgers) in the sense of cutting the value in half (as in the story of King Solomon adjudicating between two women claiming the same baby) but it is “credited” to both those with Needs and those who Create, as verifiable Trustlines of Value having been created. Thus both are credited with the full value of their activity(ies).
Under the current money system, those who actually Create receive only a fraction of the reward they deserve:
- Producers (those actually doing the work to Create) are denied most of the value they create. I haven’t done the maths but arguably the fraction retained by those actually doing the creating is typically less than 10% of the value they create. By the time you take out all the taxes, rents, debt interest and other spurious charges, e.g. to comply with rules and regulations plus fines, subscriptions, insurance et al, there is little left for those who Create.
- In the case of employees, it is much worse. The employer takes the lion’s share (but then that is depleted as described above). Out of the employees’ fraction come similar deductions. Which is why few people get rich through employment alone. To “succeed”, you have to adapt to the system of plunder and get rich through corruption while playing the game of exchange value and speculation, to appropriate the residual (after the money system has taken its cut) value created by others.
ENabling (endogenous) tokens attribute the full value of Human Activity to all relevant parties.
In many ways, the methodology that led to the above revelations is more important than the revelations themselves.
Money has created the competitive global society. Individuals, groups and nations vie for proxy resources (a.k.a. Satanic money, see above). Whereas Divine Wisdom inspires us to be collaborative and mutually supportive, i.e. to look after those around us.
The Greatest Commandment: “Love the Lord your God with all your heart and with all your soul and with all your mind and with all your strength.” The second is this: “Love your neighbour as yourself.” No other commandment is greater than these.
Current money, even gold, reinforces the current competitive paradigm and thus, is in direct conflict with Universal law or Divine Wisdom.
This realisation grew and developed from co-creative research and analysis that evolved into a shared understanding of political economy. Building on that foundation led us to our latest discovery, of the importance of endogenous (integral to Human Activity) ledgers and tokens. The co-creative methodology and increasing awareness of the importance of Universal law or Divine Wisdom drove this process, not any one of the many individuals involved.
The underlying premise of Divine will or Universal law is that if we don’t look after others, at least as well as we look after ourselves, we and everyone suffers.
ENabling Tokens may not be Divine but they foster attitudes and behaviour that are congruent with God’s or Universal law.
Breaking Bad fans will know that chemistry teacher Walter White’s inspiration and nom-de-guerre was Heisenberg. What most of them won’t be aware of is this quotation that reinforces the notion of Universal law… that governs everything, in spite of the structure that has evolved to suppress and subvert it.
“The first gulp from the glass of natural sciences will turn you into an atheist, but at the bottom of the glass God is waiting for you.”
Werner Heisenberg