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Written by Abdun Nur   

The Nature of Money

 

“They deem me mad because I will not sell my days for gold; and I deem them mad because they think my days have a price.” Kahlil Gibran

 

Money: From the Latin word "moneta" originally meant, "warning". Money as legal tender is not a true medium of exchange, nor a natural one, it’s an imposed medium; in its present form simply a method of thievery through extortion.

 

No bank notes or coins will ever have imprinted on them the term money, but sometimes the term cash (meaning money box). The concept of money in its strict technical sense means coined metal, usually gold or silver, upon which the government stamp has been imprinted to indicate its value, this technical concept prevents the term ‘money’ being used definitively upon any legal tender which is commonly considered money.

Legal tender -“Money limiting human potential through poverty and misery all across the Earth.”

 

"All the inhumanity and injustice of the world was/is "legal" because it preserved the privileges of the power elite. Change “only” comes from illegal acts, which are "illegal" only because they serve to dislodge that elite, whose "laws" only exist to protect themselves." Daniel ODonoju

 

If money is considered a term, reduced to its essence, then it would denote only ‘a medium of exchange’, as a true medium it would only be transitory, holding the value between one exchange and the next without generating gain or loss for the holder.

 

Legal Money is extrinsic, having no value of stored labours, this form is known as legal tender, which is a currency of issue, as a debt certificate created by the banking monopoly granted within a feudal corporate State; so within a “country” of economic slaves. Legal tender is given value by the corporation of State as a fiat coin, or note, used in a maintained monopoly that the policy of the State Corporation compels all creditors to accept in payment of a debt.

 

“No legal tender ‘law’ is ever needed to make men take good money. Its only use is to make them take bad money.” Stephen T. Byington

 

A country is an area of the earth’s surface dominated by a feudal count (retainer), who holds the land through violence or its threat, hierarchically.

 

Money, defined as only a medium of exchange, is exchanging the labours of one soul through a storing medium, before it’s then exchanged in the future for the labours of another, so money should be based in labour.

 

Axiomatic money, has intrinsic value, as it holds a store of labour, this form can be issued or minted from any source, free from both monopoly or granted privilege, and can take many forms such as gold or silver coins, or labour accounting, and needs no imposed compulsion for creditors to accept.

 

By creating the entire money (legal tender) supply as loans (debt), the banking sector is able to collect interest at an average rate of around 5% per annum on very nearly every pound, dollar,  yen etc. in existence.

This results in a regular and ongoing transfer of wealth from the non-banking sector to the banking sector.

 

“The money power preys upon the nation in times of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy.”  Abraham Lincoln

 

“It is symptomatic of the current human condition that the system we live under sees every aspect of Earth, from land, sea, flora and fauna, even other human beings as a commodity with monetary value. We have allowed corporations to claim ‘ownership’ over our common resources, selling back to us what was naturally ours to begin with. Furthermore, we are forced into working for these corporations to obtain the promissory notes of another corporation to be able to buy back what should be free to all. If we were more honest with ourselves we would call this what it really is: slavery.”

 

Money (fiat) is claimed as a medium of exchange, but this is not the case, because a true medium of exchange MUST remain stable and its creation must be generated from an intrinsic source, why?

“If you had borrowed one dollar at the time of Christ at 6% interest, how much money do you think you would owe today, 2000 years later?

Let’s do the maths: 1.06^2000=$4.09 x 10^50, or $409,006,800,000,000,000,000,000,000,000,000,000,000,000,000,000,000

That’s orders of magnitude more money than there is in the entire world!

To put that in perspective, if there were 10 billion people on Earth each earning $1,000,000,000 (1 trillion) a second, for every second of every minute of every hour of every day from the beginning of time, 15 billion years ago, their combined earnings would only amount to $4.07 x 10^39. It would take another 86 billion earths each full with 10 billion earning $1 trillion a second for every second from the beginning of time before you would come close to having enough money to pay back the interest due on a measly $1 loan at a low 6% interest for a mere 2000 years.” Dr Anthony Santelli

Because it is only a method of transition between a trade of labours, substantively you may only trade that which you yourself have created, the naturally existing resources used are always free, all that is ever traded is labours, therefore the medium of exchange must be substantive, meaning free of fictional creation, value, and perception, so derived from the source of its creation.

 

When you exchange something for a substance or mechanism through which the value is stored until you wish to transmit that value to another exchange, then for that to rise or fall either robs the holder or unduly rewards the hold of that medium.

 

The source of all value is physical labour, this is the source therefore the only plenary medium of exchange, this can be exchanged through a system of accounting and made physical when made manifest through something of intrinsic value, a time labour based accounting model would be local, limited within a community, while external trade could be linked to other labour accounting communities, or through using a storing medium of exchange; meaning something that requires labour to be invested within it as a physical store that is stable, meaning a store as permanent as possible, such as silver, which requires labour to mine, purify, and mint and is therefore an inexact form of exchange, anything with intrinsic value could be used in external exchange, being a form of barter.

 

Where money (legal tender) fails dismally as an exchange system is in its inability to comply with the important requirements of exchange systems to ensure balanced contributions and distributions and to sanction imbalances.

 

As an instrument of class domination, the functions of money (legal tender) in the formative years of capitalism were different to the functions it has today. In the early years the money system was forced on communities that were largely self-sufficient and still reliant on older exchange systems. The object of money was to break the links with those exchange systems to force people off the land and into the capitalist market. This corralled them in cities where they became industrial workers and totally dependent on the market.

 

This inability is built into the design of money, because it was from the start designed to work as a tool of extraction rather than as a neutral mechanism to ensure the fair distribution of society's wealth through reciprocal exchange. It enabled kings to requisition their requirements from the producing sector without having to maintain a cumbersome centralised bureaucracy to organise the theft of production and distribution from those who generated the wealth of labours.

 

If the purpose of life is to ‘make money’, with the driving ambition of ultimately amassing monetary wealth as the objective, what substantive life is there, what real benefits and growth is ever attained, money for the majority of those who hoard it in great quantity seems to grant neither happiness nor spiritual growth?

 

“The price of everything is the amount of life you exchange for it.” Henry David Thoreau

 

Remove  your participation within this mass psychosis and accept money is a fiction without worth, and that your labours are the only true exchange, and you will be freed from economic slavery.

 

Legal tender is a debt based model interest bearing, but like any Ponzi-scheme the principle debt must double periodically to service the demands of the scheme, this doubling mechanism is integral to the debt interest model. There are now hardly any more places for money to expand, and very few levels to expand within the societies that have already been captured, this leaves only one debt generator that is always inexhaustible in debt generation, ‘war’. And when you have no enemy, the enemy must be invented, and the war must be organised, the extermination and devastation must be enthusiastically embarked upon.

 

“Banking is not lending; to lend, a money lender must have money. (Banks lend debt)

 

The fundamental banking activity is accepting, that is, guaranteeing that some party is creditworthy. (Able to labour, or extort the labours of others, with the intention of paying that debt)” Hyman Minsky

 

Legal tender has come up against its own limits of debt expansion, and as it does so it consumes itself, like a ravenous beast the natural and infrastructural resources of the earth will be consumed upon the alter of consumerism and unaccountable capital monopoly. An expansionary agent in a confined space can only result in an explosion, and that explosion will be within the banking frauds, this explosion is like a slow building demolition, each squib removing a support over months and years, whose effects are hidden in contrived wars, ever escalating. The banksters will regroup and reset the system again and again, for as long as they are allowed to perpetuate the fraud, and if left to their own devices will ultimately lay the earth to waste.

 

Labour exchange applied through a local repository accounting system and the bilateral surety bond between souls, foster the real wealth of communities and rebuild a sense of worth and self-esteem among their users.

 

Labour being a true medium of exchange, provides infinite opportunities for exchanging one's narrow specialisations for the goods and services offered by others. In this way the monopoly and contrived scarcity of money is removed, and natural resources are freed from the grip of privilege.

 

Why the popularly promoted idea of a resource based system of community exchange is misdirection.

 

“Power is NOT in elective politics. You achieve power by ‘gaining control over resources!’ Yes owning and controlling!” Dr. Amos Wilson

 

Advocates of a resources based distribution system, of so called ‘new economics’, is claimed to be about rebuilding society using alternative/sustainable economic policies and practices. If you fail to see the basis of exchange as labour, and instead only see resources having value, then to establish equity in distribution in such a system requires three things, compulsion to constrain all souls to a policy of corporation. Compulsion to be bound to the policy required to implement such a system. Compulsion to be subjugated to a hierarchical governor, therefore to a corporation, a fiction of perceptual invention, and if you are compelled, if you are subjugated, if you are constrained and dictated to, about the utilisation of the fruits of your own labours, then you are no more than an economic slave.

 

People cannot see beyond hierarchical dominance, and believe what is not theirs can be commandeered to their uses, mobilized to achieve objectives they consider of value, using the real wealth of the souls who labour in non-community, as common unity is impossible if hierarchy is in place, which is division into ranks: Hierarchy steals the knowledge and skills of the peoples labours to the dictates of hierarchical superiors, in democracy this theft is justified through majority will, but theft is theft irrespective of the will of a majority.

 

“Democracy is a con game, it is a word invented to outplay people, to make them accept a given institution. All institutions sing ‘we are free.’ The minute you hear ‘freedom’ or ‘democracy’ – watch out, because in a truly free nation, no one has to tell you that you’re free.” Jacque Fresco

 

In a resource based system, for example, a man lacking resources who labours making a chair must compete with a man who has resources available, who has a machine to mass produce the chairs, this means the man of mass production can undercut the man working by hand reducing the value of his labours, while making huge sums of money from the mechanisation his access to resources allows. In a true labour based system the resources are freely accessible, not restricted as the basis of exchange.

 

“A society that does not ecognize that each individual has value of his own, which he is entitled to follow, can have no respect for the dignity of the individual, and cannot really know freedom.” F. A. Hayek

 

Conventional money drains away while a local exchange system keeps this wealth moving about the community, generating economic activity and providing access to the common wealth for all involved. People who have accumulated a wide range of skills and abilities suddenly become once again highly valued members of the community.

 

“A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyse a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects.” Robert Heinlein

 

Money and work

 

In a system of legal tender, work is only done if money permits, if you’re unemployed, it’s not because there isn’t any work. Just look around infrastructures is in decay, products are commonly shoddy and unfit for purpose, resources are abundant yet made scarce and unattainable for the masses, work is always plentiful as long we have unsatisfied needs, there’s work to be done.

 

So ask your self, what kind of world has work but no jobs, it’s a world where work is not related to satisfying our needs, a world where work is only related to satisfying the profit (usury) needs of business.

 

The industrialised world is built upon the dictates of the owners of huge corporations, under commercial or State bureaucracies, but it was all built by people who work, and it should not be a tiny elite dictating what work is allowed and what work is prevented through scarcity of resources, it should be all the people who dictate what work is done. As long as money dominates work, then profit and scarcity will remain the masters over the masses.

 

 

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