Difference between revisions of "The financial system"
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The network uses a currency model based on energy (see [[think global, act local]]). Many people involved in the project in the past have had deep concerns with the introduction of currency. But in fact it has always been there, and its a natural process for any organism to evaluate ''costs'' of various courses of action in terms of various forms of energy. | The network uses a currency model based on energy (see [[think global, act local]]). Many people involved in the project in the past have had deep concerns with the introduction of currency. But in fact it has always been there, and its a natural process for any organism to evaluate ''costs'' of various courses of action in terms of various forms of energy. | ||
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The problem is that only the Source can create something out of nothing, energy out of the void. Man cannot do this (And when He can we won't need Usary or debt anymore anyway!), only God can, but usuary gives money this Godly power. But because money does not really posess this power of creation it means that the cost of its growth is being balanced elsewhere; by a depletion in natural resource and an increase in the [[Wikipedia:Poverty|distance between rich and poor]]. | The problem is that only the Source can create something out of nothing, energy out of the void. Man cannot do this (And when He can we won't need Usary or debt anymore anyway!), only God can, but usuary gives money this Godly power. But because money does not really posess this power of creation it means that the cost of its growth is being balanced elsewhere; by a depletion in natural resource and an increase in the [[Wikipedia:Poverty|distance between rich and poor]]. | ||
| − | = Nodal currency = | + | == Nodal currency == |
In the [[nodal model]], currency is simply a [[w:Medium of exchange|medium of exchange]] which is an intermediary used in [[w:trade|trade]] to avoid the inconveniences of a pure [[w:barter (economics)|barter]] system. In a barter system, there must be a [[w:coincidence of wants|coincidence of wants]] before two people can trade - they must want exactly what the other has to offer, when and where it is offered, so that the exchange can occur. A medium of exchange permits the value of a good to be assessed and rendered in terms of the intermediary. | In the [[nodal model]], currency is simply a [[w:Medium of exchange|medium of exchange]] which is an intermediary used in [[w:trade|trade]] to avoid the inconveniences of a pure [[w:barter (economics)|barter]] system. In a barter system, there must be a [[w:coincidence of wants|coincidence of wants]] before two people can trade - they must want exactly what the other has to offer, when and where it is offered, so that the exchange can occur. A medium of exchange permits the value of a good to be assessed and rendered in terms of the intermediary. | ||
In the nodal model this medium of exchange is purely in the form of informational [[w:store of value|store of value]] and is handled by the global [[Accounts]] which is one of the fundamental [[nodal organisation]]s. | In the nodal model this medium of exchange is purely in the form of informational [[w:store of value|store of value]] and is handled by the global [[Accounts]] which is one of the fundamental [[nodal organisation]]s. | ||
| − | = Profit = | + | == Profit == |
There is no [[w:profit|profit]], only the cost of peoples time and the exchange of resources. This means that there is also no passive income or interest. Of course people can still arrange to work in these "legacy" ways if they like, but these concepts are not condoned by the network because they violate the spiritual principles by creating something out of nothing. | There is no [[w:profit|profit]], only the cost of peoples time and the exchange of resources. This means that there is also no passive income or interest. Of course people can still arrange to work in these "legacy" ways if they like, but these concepts are not condoned by the network because they violate the spiritual principles by creating something out of nothing. | ||
| − | = Time = | + | == Time == |
In a fair system where there's very little creation out of nothing going on, people's time is worth far more and they would not need to work many hours each week to earn a comfortable living. In the network the only way to gain resource is by spending time working for an organisation, or spending time creating resource to sell. | In a fair system where there's very little creation out of nothing going on, people's time is worth far more and they would not need to work many hours each week to earn a comfortable living. In the network the only way to gain resource is by spending time working for an organisation, or spending time creating resource to sell. | ||
| − | = Opportunity = | + | == Opportunity == |
People can still "work smart not hard" by spedning time expanding their "opportunity space". Opportunity can be maintained to ensure there's always enjoyable well paid work available. | People can still "work smart not hard" by spedning time expanding their "opportunity space". Opportunity can be maintained to ensure there's always enjoyable well paid work available. | ||
| − | = Quotes = | + | == Quotes == |
| − | + | "[[w:Fiat money|Fiat money]] is the cause of [[w:inflation|inflation]], and the amount which people lose in [[w:purchasing power|purchasing power]] is exactly the amount which was taken from them and transferred to their governments by this process." | |
:-- G. Edward Griffin, [http://www.amazon.com/gp/product/0912986212 The Creature from Jekyll Island] | :-- G. Edward Griffin, [http://www.amazon.com/gp/product/0912986212 The Creature from Jekyll Island] | ||
| − | + | "A fiat monetary system allows power and influence to fall into the hands of those who control the creation of new money, and to those who get to use the money or credit early in its circulation. The insidious and eventual cost falls on unidentified victims who are usually oblivious to the cause of their plight. This system of legalized plunder (though not constitutional) allows one group to benefit at the expense of another. An actual transfer of wealth goes from the poor and the middle class to those in privileged financial positions." | |
:-- [[w:Ron Paul|Congressman Ron Paul]], [http://www.house.gov/paul/congrec/congrec2003/cr090503.htm Paper Money and Tyranny] | :-- [[w:Ron Paul|Congressman Ron Paul]], [http://www.house.gov/paul/congrec/congrec2003/cr090503.htm Paper Money and Tyranny] | ||
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:-- [[w:Henry Ford|Henry Ford]] | :-- [[w:Henry Ford|Henry Ford]] | ||
| − | = See also = | + | == See also == |
| + | *[[PeerPay]] ''- Collaborative document to discuss methods by which a P2P currency system could be developed'' | ||
*[[Resource]] ''- the fundamental [[nodal organisation]] handling resource allocation and valuation'' | *[[Resource]] ''- the fundamental [[nodal organisation]] handling resource allocation and valuation'' | ||
*[[Accounts]] ''- the [[peerd]] interface aspect of currency in the network'' | *[[Accounts]] ''- the [[peerd]] interface aspect of currency in the network'' | ||
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*[[Wikipedia:Currency]] | *[[Wikipedia:Currency]] | ||
*[[Difference]] | *[[Difference]] | ||
| + | [[Category:Glossary]][[Category:Philosophy]]__NOTOC__ | ||
Revision as of 02:47, 5 December 2007
The network uses a currency model based on energy (see think global, act local). Many people involved in the project in the past have had deep concerns with the introduction of currency. But in fact it has always been there, and its a natural process for any organism to evaluate costs of various courses of action in terms of various forms of energy.
The problems arrise when we introduce corrupt concepts like usury (riba) and fractional-reserve banking, which is why there's so much religious fuss about that concept. And even concepts involving passive income start to cause trouble.
The problem is that only the Source can create something out of nothing, energy out of the void. Man cannot do this (And when He can we won't need Usary or debt anymore anyway!), only God can, but usuary gives money this Godly power. But because money does not really posess this power of creation it means that the cost of its growth is being balanced elsewhere; by a depletion in natural resource and an increase in the distance between rich and poor.
Nodal currency
In the nodal model, currency is simply a medium of exchange which is an intermediary used in trade to avoid the inconveniences of a pure barter system. In a barter system, there must be a coincidence of wants before two people can trade - they must want exactly what the other has to offer, when and where it is offered, so that the exchange can occur. A medium of exchange permits the value of a good to be assessed and rendered in terms of the intermediary.
In the nodal model this medium of exchange is purely in the form of informational store of value and is handled by the global Accounts which is one of the fundamental nodal organisations.
Profit
There is no profit, only the cost of peoples time and the exchange of resources. This means that there is also no passive income or interest. Of course people can still arrange to work in these "legacy" ways if they like, but these concepts are not condoned by the network because they violate the spiritual principles by creating something out of nothing.
Time
In a fair system where there's very little creation out of nothing going on, people's time is worth far more and they would not need to work many hours each week to earn a comfortable living. In the network the only way to gain resource is by spending time working for an organisation, or spending time creating resource to sell.
Opportunity
People can still "work smart not hard" by spedning time expanding their "opportunity space". Opportunity can be maintained to ensure there's always enjoyable well paid work available.
Quotes
"Fiat money is the cause of inflation, and the amount which people lose in purchasing power is exactly the amount which was taken from them and transferred to their governments by this process."
- -- G. Edward Griffin, The Creature from Jekyll Island
"A fiat monetary system allows power and influence to fall into the hands of those who control the creation of new money, and to those who get to use the money or credit early in its circulation. The insidious and eventual cost falls on unidentified victims who are usually oblivious to the cause of their plight. This system of legalized plunder (though not constitutional) allows one group to benefit at the expense of another. An actual transfer of wealth goes from the poor and the middle class to those in privileged financial positions."
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
- -- Henry Ford
See also
- PeerPay - Collaborative document to discuss methods by which a P2P currency system could be developed
- Resource - the fundamental nodal organisation handling resource allocation and valuation
- Accounts - the peerd interface aspect of currency in the network
- Think global, act local - the ability for the network to assess efficiency from a holistic perspective
- Cancerous Capital
- Wikipedia:Unit of account
- Wikipedia:Medium of exchange
- Wikipedia:Money
- Wikipedia:Currency
- Difference
