Written By Abdun Nur
(If you wish to communicate about this article with the author email: firstname.lastname@example.org)
The Nature of Money
Money monopoly limits human potential through poverty and misery all across the Earth.
In temple or church, it’s called donation or tithe.
In granted privilege: it’s fee.
In marriage, it’s dowry.
In divorce, alimony.
When you owe someone, it’s debt.
When the government mafia extorts, it’s tax.
In court, it’s fines.
In retirement it’s pension.
Employer to workers, it’s salary.
Pledging your labours to a Master, it’s wages.
To children, it’s allowance.
When you borrow from banks, it’s loan.
When you over pay for good service, it’s tips.
To kidnappers, it’s ransom.
To immorally persuade another it’s bribe.
From the dead it’s a bequest.
To sue and win it’s settlement.
‘Money’ originates from the goddess “Moneta” meaning ‘to remind, warn, or instruct’. Moneta is a title of the Roman goddess Juno who was the protector and special counselor of “the preservation of interests in land extorted from the tenants by a dominant wealthy class” known as a State or fiefdom. Coins of Rome where minted in or near her temple.
“Current money. – The currency of the country; whatever is intended to and does actually circulate as currency; every species of coin or currency. In this phrase the adjective “current” is not synonymous with “convertible”. It is employed to describe money which passes from hand to hand, from person to person, and circulates through the community, and is generally received. Money is current which is received as money in the common business transactions, and is the common medium in barter and trade.” Black’s Law Dictionary
“Lawful money. Money which is a legal tender in payment of debts.” Black’s Law Dictionary
“Legal Tender. That kind of coin, money, or circulating medium which ‘the law compels a creditor to accept’ in payment of his debt, when tendered by the debtor in the right amount.” Black’s Law Dictionary
Notice the law compels the corporations to accept legal tender, which they are presently refusing to do, instead demanding digital money from cards be used in the UK, and some airlines within airports also demand this, which is clearly an act against the imposed slave law.
“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
Fiat money is theoretically claimed a medium of exchange, but to be so would require its value was fixed. A true medium of exchange MUST remain stable and its creation must be generated with “a full guarantee” of that stored value, this can be done imperfectly through a physical object such as silver or gold, or as I will explain, through a key pair encryption digital mechanism that provides a full guarantee of that stored value, through the attachment of an external guarantee from another soul, that gives certainty to the repayment of an advance, beyond the undertaking of the bondsman receiving the advance to repay the advance.
Guarantee is never a single source, in surety is linked across all surety, in proportionate risk collectives across the collective, and in need bond advance through the stored labours within the infrastructure and equipment required to service the need.
If the earthcoinage cryptocurrency only exists when it is advanced fee and interest free, with a full external guarantee attached, with the tradable value of that medium linked to purchasing power directly, and all trades of the cryptocurrency are only possible within the software of the closed bond, then the value of any exchange held within this medium of exchange is truly fixed in value, this would create the worlds first “TRUE” medium of exchange.
A true medium would not increase in its tradable value or decrease, it would simply hold the value. stored in a medium to be traded at another time within another disconnected trade, the very purpose of a medium is simply to hold a value until another trade is desired.
Guarantee of value is the key to a true medium of exchange. Holding that value fixed makes that true medium stable, while providing advances free of fees and interest, along with all transactions free of fees, ends the need of endless growth, required presently by the debt usury system.
The Origins of the Usury Banking Monopoly
Usury is a one-sided extraction of the fruits of the labours of another, which has 5 basic forms:
Debt (the interest demand for the use of money)
Profit (the interest demanded for the use of capital)
Rental (the interest demanded for the use of infrastructure)
Taxation (the interest demanded for the use of your labour)
Ownership (the interest demanded for the use of land through the fiction of eminent domain)
The original bankers stored metals for a fee, like silver and gold, for which the bankers gave a written I.O.U, more often than not people simply exchanged these I.O.U’s instead of going to the bank to take the metal and give it physically, as the trader could simply take the I.O.U and redeem the metal themselves. The bankers noticed that only around 5% of the metals was ever circulating in and out, 95% just sat in the store, the scam was to lend out metals they did not have, using I.O.U’s and using the gold and silver of those that had paid them to store it safely, instead for circulation, and then charge fees and interest for these paper I.O.U’s as if they’d lent the physical metals. This was done without the consent of the ones storing the metals, who clearly would object to there metal being lent out when they were paying for it to be stored. As long as they only lent out no more than 20 times the amount of stored metal using I.U.O’s, then the store would continue to circulate the metal without the victims realising the scam.
If however someone wanted a large deposit all at once, this would crash the scam, and this was called a run on the bank. In this original system the guarantee was that the victims believed the metal existed that they borrowed, but in reality they only borrowed the I.O.U, so the guarantee only continued as long as no one requested a large deposit back.
The scam has evolved, now the bankers lend 20 times, or more, as much from the I.O.U’s they create, the I.O.U’s have replaced the metals, and this is known as fiat money.
Fiat means by decree, fiat money is created when the government decrees a money monopoly and the value of the fiat currency isn’t representative of another asset or financial instrument such as gold, but has absolutely no value except the govern mental mafia decreeing it has value, and imposing that decreed money monopoly in settlement for goods or services.
By creating the entire money supply as loans, the banking sector is able to collect interest at an average rate of around 5% per annum on very nearly every pound, dollar, yen, euro, every fraud of fiat in existence.
This results in a regular and ongoing transfer of wealth from the non-banking sector to the banking sector.
The scam of I.O.U’s requires that the amount of debt certificates (I.O.U’s) created must double around every decade to maintain the scam. As all money is interest and fee bearing debt, to repay, beyond the basic advance, of the added fees and interest, you must generate more debt, as otherwise the amount of debt in existence will only repay the basic advance, and no debt will exist to pay the fees and interest.
Fiat is given value through an imposed monopoly of the Corporate State mafia, within the fiefdom they dominate. This value reduces relative to the volume of debt generated, so as the debt doubles every decade, the value halves, so the value is taken from the savings of those holding debt certificates.
The final element is monopoly. To remove the monopoly of fiat, force is not required, you simply establish a better alternative to the fiat monopoly. Monopoly is needed when a medium of exchange is free of guarantee; money as fiat is only given value because the imposed debt certificates (fiat) is granted a monopoly, the owners of the fiefdom State says it has value, and without any alternative you are forced to use that system.
“The money power preys upon the nation in times of peace, and it conspires against it in times of adversity. It’s more despotic than monarchy. It’s more insolent than autocracy. It’s more selfish than bureaucracy. . . . Corporations have been enthroned, and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working on the prejudices of the people until all wealth is aggregated in a few hands, and the republic is destroyed.” (This quote first appeared in 1896 and was attributed falsely to Abraham Lincoln, who died in 1865, never the less it is a statement that continues to prove true, even if the true source is unknown.)
Why We Cannot Generate Cryptocurrency Without Guarantee, as a “True” Medium of Exchange
Guarantee is the key to value, everything traded is in reality an exchange of the fruits of your labours, for the fruits of the labours of another. So when a medium of exchange is used to hold the value of a trade for a future trade, you are effectively storing that labour value, if that value increases (effectively stealing more than you had) or decreases (effectively being robbed, losing some of what you had) in purchasing power it would then not be a true medium of exchange.
If a cryptocurrency invents the token of value from nothing, through selling them for unearned gain, or mining them for securing them, they have no guarantee attached, so their value only exists upon the faith of the holder, and does not posses a fixed value in purchasing power, this makes them worthless in real terms. The other problem with this type of cryptocurrency is manipulation, the bankers can buy these cryptocurrencies without restriction, as they have infinite fiat money, and the price will climb, then when the price is very high, lets say a 5c start value has grown to $10,000 value through this mechanism, then the bankers can dump all their holdings onto the market, now the market has a glut of cryptocurrency, and the price crashes, the bankers have gained vast sums from this mechanism, while the masses have lost huge sums of their stored labours.
The guarantee must be in labour, as that is the only true medium we trade, this means to gain any advance it must either be held within the labours stored, within infrastructure or goods, or with an attached guarantee of repayment from an disinterested third party, willing to repay the advanced labours with their own labours, if the advance is not reimbursed by the one who was granted the advance, and equitable mechanism exist to achieve this.
Equitable Wealth or Legal Tender
“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
All banking fiats are certificates of debt, the volume of debt must double on average every decade to service the fees and interest of previous debt, this effectively devalues the fiat by half from its original value in purchasing power, robbing the value from savings, and increasing the cost of goods and services proportionately, creating an endless struggle of the workers to maintain the same purchasing power of fiat received for the economic slavery exchange of their toils and drudgery in hierarchical employment.
Why is interest on advances of a medium of exchange so bad, you may ask?
“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 math: 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 whole world! To put that in perspective, if there were 10 billion people on the earth each earning $1 trillion dollars 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 people earning $1 trillion dollars 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
“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
To learn more about: Advancing Cryptocurrency Multilateral Bond