The financial system

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Revision as of 00:05, 31 December 2006 by Nad (talk | contribs) (Nodal currency)


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The network uses a currency model based on energy. 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 allowing people to exchange their different kinds of resources and time in an organised way. Often someone may give resource or time to something, but not require something in return immediately, or that the thing the require in return in of higher value taking many exchanges over time. For example it may take a whole years worth of giving watermelons before it would be worth the value of a car - currency is simply an organisational method of handling these resource exchanges.

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.

See also