What is Money – in reality?
Is Gold money? Is Silver money? Is Wampum money? What about Bernanke’s virtual computer digits? Let’s THINK about the question: what is ‘Money’?
I just returned from a great financial summit called the Silver Summit held in Spokane, Washington. This conference or summit demonstrated to me that the issue of: what is ‘money’…is a confusing issue to many. Some of the presenters at this summit attempted to market GOLD as the only real money. Others thought SILVER was universal money? One presenter thought that fiat paper notes were money. So the issue of what is money is unsettled within the minds of experts (whether Austrian or Keynesian in belief). So let’s THINK about the word that we call ‘money’. Is there any item within our material spacetime Universe that is real MONEY? If so, where is it and what is it!
In reality, the ‘word’ MONEY does not refer to anything within our spacetime Universe. There is nothing physical (within nature) that represents real MONEY within our spacetime Universe. So what is MONEY in reality? I would suggest that ‘money’ starts out as an IDEA. Money is actually a concept of one’s MIND. The concept than becomes a spoken WORD. Later someone applies this WORD (money) to some item within a marketplace (say wampum). If enough traders within this marketplace buy into wampum as a type of MONEY, than wampum emerges as MONEY for this marketplace. In another marketplace someone may apply the word ‘money’ to a silver coin (say 371.25 grains of silver). If enough agree with this IDEA, then silver coins (of 371.25 grains) become money. If traders and authorities later choose GOLD (specific number of grains) as money, then this thing can become MONEY. So what emerges as real MONEY?
History shows that the WORD ‘money’ can be applied to many different items within nature. Deerskins, beaver skins, nails, beads, tulip bulbs, etc. all have been accepted as ‘money’ within specific marketplaces. We now have virtual computer DIGITS as money. There are thousands of economists, individuals, traders, bankers, and investors who have agreed to accept these IMAGINARY units (numbers in the computer screen) as ‘money’. So history shows that the WORD ‘money’ can refer to many unique items or imaginations and still work for a time. It is important to understand that ‘money’ …in reality…is an IDEA within my/your CONSCIOUSNESS. In reality, ‘money’ does NOT EXIST! Rather, we ‘invent’ something or nothing as our ‘money’ unit and we than give this thing or non-thing a NAME. Names like ‘dollar’, ‘euro’, ‘pound’, ‘yen’, ‘real’, etc. denote a form of ‘money’. Governments than declare these ‘names’ as LEGAL TENDER for all debts (public and private)…mandating that everyone use these money units.
Today, we use imaginary symbols, numbers, and names as our ‘money’. Our ‘dollar’ ($1.00) is…in reality…a MENTAL abstraction. The ‘name’ DOLLAR no longer denotes a material THING from nature. Bernanke now creates this imaginary unit by typing in ‘numbers’ called dollars into his MASTER computer at the New York Federal Reserve Bank. Where does Mr. Bernanke obtain all these ‘numbers’ which he types into his computer screen? Does he have some material THING in his possession? Does he PRINT paper notes from his laser printer? NO, No, No! Bernanke now just THINKS up a ‘number’ in his MIND and then gives his servant/manager at the computer DESK in New York a directive. This Desk Manager then types in ‘numbers’ based on the order within the DIRECTIVE. Dollars (our legal tender) then emerge magically within the COMPUTER SYSTEM ACCOUNT (the Fed’s checking account) ready for immediate spending. Bernanke now has the authority to officially ‘counterfeit’ units (dollars) in the trillions ($1,000,000,000,000′s). What do you think is QE1, QE2, and QE3? Quantitative Easing is merely a deceptive ‘name’ for Bernanke’s official ‘counterfeiting’ of our ‘dollar’.
What a great game that is being played to control and manipulate and rig our global trading markets. Central Bankers now have the power to create these imaginary ’numbers’ just by typing numbers into the computer screen. These units become official ‘legal tender’ for all debts (public and private). The free choice over what should be ‘money’ is not FREE nor a CHOICE. Rather, ‘money’ is now a mandate from just a few select power brokers…called Central Bankers. These elite bankers have a vested interest and a self-interest to distribute these ‘numbers’ (units of money) to their select recipients (millions, billions, and even trillions of units go to select institutions and individuals). Does any of this sound like a FREE MARKET economic SYSTEM? Does any of this appear to be SOUND economic policy which benefits the general public? Can ‘prices’ and ‘values’ be objective given this type of OPERATION? Can any investor ‘save’ these imaginary units with any confidence that purchasing power will be maintained?
What ‘name’ should we give this Ponzi monetary/economic non-system? Some just call it a Grand Ponzi Scheme. Others call it a RIGGED and MANIPULATED operation. Some politicians call this system Capitalism or Social Justice. And many economists call this system Keynesian Economics. You can choose any ‘name’ you desire, but this non-system certainly isn’t anything that our Founding Fathers would create. Our Founding Fathers created a Decentralized economic system where the people were in ‘control’. Government was a ‘servant’ of the people. This entire philosophy of our Founders lasted until our FIRST GREAT DEPRESSION (1929-1937). Since then we gradually have given ‘control’ over money and economics to elite centralized bureaucrats. Gradually this operation has created a cartel of Central Bankers who manipulate our entire global economic system. Money is now ‘ruling’ our planet and just a few elite bureaucrats control the system. Is this leading to the General Prosperity for the masses of people on this planet?
What now needs to happen is for masses of people to become AWARE and EDUCATED on what has developed. Our monetary and economic system has become totally corrupt and dysfunctional. The life blood of economics (money) has become corrupted and those with POWER and WEALTH (in units of counterfeit money units) RUN this planet for their selfish interests. Just a FEW elite individuals can now influence and move the markets via manipulation and rigged procedures. The vast majority of people are total victims of this unfair non-system. We now need to CHANGE this non-system and start anew with a NEW SYSTEM which puts people FIRST. Can this happen? I think it can if enough people become educated and aware of what is happening. My blog is intended to help with this education and awareness. Keep reading and thinking! I AM: http://kingdomecon.wordpress.com.
Come and discuss our economic, philosophical, and monetary situation. Contact Kingdom Economics by sending an email to: firstname.lastname@example.org. . Deadline: February 24, 2013 (to register). Cost (of hotel facilities) will be covered by voluntary donations at the event. Registration is free (pay your own costs of transportation and hotel room). Purpose of Forum and Discussion is educational and to promote awareness of our global monetary/economic problems going forward! Abraham Lincoln said: education is the most important area for anyone to be engaged with. James Garfield said: neither freedom nor justice can be maintained without education.