Money is a social media that must exist in the public domain as an open source conceptual system with defined standards and controls for its implementation and maintenance.
It is essential that what money is as a conceptual information structure be clearly distinguished from its application to doing something with it. For an example from our modern era of information management: Money IS the operating system. What money does are its application programs and we call all of those programs the economy. For an example from the dawn of information management: Money is like the alphabet. The application of the alphabet is everything we write and say. That, like money, is anything and everything we can dream up to do with it.
Money Does as Money Is.
The essence of the information age is the separation of physical things from their logical association. When that is done they can be managed better logically than only physically. That is not new or hard to understand. It is the same as separating a word which is a conceptual thing in our mind (logic) made up of the letters "d o g" from the physical object that barks. We say "dog" otherwise we would have to tie the logical idea of a dog to the physical reality of a dog by barking like one. The new information age is simply extending more conceptual information structures on top of older conceptual structures. That increases complexity but computer information management systems enable us to manage it by making the complexity transparent to the the end user. That is a good thing and a bad thing. Hiding truth from the user of a complex system that would otherwise expose its fallacy is fraud.
Bankers separated physical money from its direct logical connection long ago. The golden rule is that they that have the gold rule. That rule is from the days when physical money, gold was absolutely bound to a logic value. A gold coin was a gold coin and that is what money was. Deposited in a bank however, bankers could loan out more money than they had on hand from depositors. Consequently the fractional reserve banking system was born. Bankers only had to maintain only a fraction of the gold coins deposited and loan out the remainder. The banking system evolved, is no longer based on a gold standard but entirely on promises to pay back a loan. We call that money today and that is what our money in fact is today. It is all just promises to pay back a loan. All our money is debt money.
The real golden rule is that they who define what money is rule the world. Bankers define what money is. Money is the representation of debt and they create money out of nothing when they loan it into existence. The end stage of the banking definition of what money is has been reached. There no longer is any physical representation of money or association to it. Money is only a number in an account. Numbers created out of nothing and seemingly an unlimited supply. Whatever is needed or wanted the only rule is that whatever the total amount of money is, money held as an asset by a bank always has to balance to a equal amount of debt created by loans. The sum total of all bank loans is equal to our money supply. All our money is debt money that is what money is by banking system design.
It is the sovereign right of our government to create money. It's in the constitution. That right was granted to a central bank in 1913 along with the responsibility to mange the monetary system. However, ultimately the right to create money remained reserved to our government.
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