Real money

Read more at http://www.nakedcapitalism.com/2012/07/randy-wray-why-were-screwed.html#jESL2QM45gHz1ezL.99

The original post and all the comments talk about what money does. This is the only comment that talks about what money is and that is the place to start in order to change what it does. The easiest way to cloud a fundametally wrong concept is to forever focus on what the concept does. Never allow focus on what it is; that is the key to the solution.

The money system was designed long ago to accomplish exactly what it is doing: Serving a narrow special interest group by the power it conveys to those who define what it is.
We did not define what freedom does. We defined what it is then let it do what it does best. We must define what new money is. All money is now debt money created by a loan. It must become real money where debt is a money application not the foundation of what the operating system is.

When the total finite universe of money is uniquely serialized digital one dollar bills existing on a central computer associated with a current owning financial entity and money transactions occur when the identity of the current owner of each digital dollar changes to a new owner along with associated information then we will know exactly what money is and exactly what it is doing. Public money subject to public authority with certain rights and conditions to know what money does as well as privacy rights for that information not to be known.

This is the new “Freedom” that we have to figure out.

It is our money. We are the public control authority of the operating system. While the paying/receiving of money would be granular at the serialized digital dollar level, that is transparent to the user but the basis for conversion to real money and new system structure and function. The end user of money would see little change in what money does for them, except that what money does would be substantially less fraudulent because it is defined to be a different thing.

That is the concept of a new money system created by information engineering and object oriented methodology that will free us once again. In order to convert from debt to real money, every dollar that pays off debt does not go out of existence but becomes a real uniquely serialized digital dollar with a value of one that exists forever in the new system that can be used for anything, including a loan.

We currently Occupy money. Money is currently a thing that can only be fundamentally occupied by virtue of the design of what it is. Like beer. We want to Own money (public money) and make temporary occupation of money owned by others (mostly the majority) merely one of the applications of real money.