Center of the Universe

The AMI, monetary act and the recent IMF paper is the only place to go, it is a paradigm shift and with it a whole new world of "what money is" and that drives what money does.

Just for the sake of speculating on possibilities in the new world of real money (no fractional reserve banking, spending by government created money into the economy) I have blue skying the idea of "what could be the nature of money" in this new system that implements the IMF paper.  What a wonderful world it could be!

The nature of a thing and its relative importance in the scheme of things is what revolves around it.  A paradigm shift happened when the earth was no longer the center of the universe or conversely, you did not fall off the farthest end of the earth but found yourself back where you started.  The perception of the physical construction of the universe changed totally with those paradigm shifts that brought our concepts in line with reality.

The strongest bond that money has to anything is who has it.  In this digital world, even more so than in the past "pocket money world" who has it is identified to an account and accounting number.  I would say that without exception, digital money does not exist (cannot exist) without association to an account, even unclaimed money or negative money has to have an account number.  Money goes into or out of an account.  The account is a fixed static record for its lifetime.  It exists until it is abolished or replaced with a new account number.

Today an account number is  the fixed center of the money universe around which everything revolves.  It always has been.  Nothing wrong or wrong headed thinking involved in that status.  Until the digital age, there was no alternative for centering everything around money itself being the fixed, central, primary record.  That was OK, the way it had to be before computers.  It is not like ignorance or failure to recognize the reality that the earth is not the center of the universe.

100% real money instead of debt money means that once money is created it can exist forever.  It does not come into and go out of existence to come into existence again as debt money does.  Information engineering says: pick the constant, unchanging thing upon which to build the conceptual system structure.  For example:  We did it when we chose individual rights.  People come and go.  The rights of freedom exist forever.  We naturally choose things that are everlasting to be foundations of our concepts.

Here is the paradigm shift:

Now:  Money is the variable thing.  The account it resides in is the (relatively) fixed thing.  Money goes into and out of the account.  Hey, its my money!  To me my bank account is the center of my money world as well as the total money world.

The paradigm shift after full IMF paper trasition:  Money is the fixed thing.  The account it is associated with is variable, changing all the time.  Money itself becomes the center of the system.  I still perceive my account as the center of my money world.

In the real 100% money world there is an absolute amount of known money in existence.  If each unit of that money (one dollar) has a unique digital serial number it becomes a perpetual fixed record.  Once brought into existence it lives forever (or as long as we need money to keep score) the ownership of that dollar is determined by the account number associated with it.  If may be withdrawn from circulation for control purposes but it still exists with a special purpose account number.  Transactions of money as a medium of exchange take place on the single digitized, serialized one dollar unit level. That whole process is as transparent to the user as is the fundamental digital process that got this email from me to you.

Conceptually, it is as if I said to the keeper of the system:  Take 100 of my single digital dollars, cross of my name and put Joe's name on them plus a time and date.  The keeper of the system selects 100 of my dollars at random and does it.  How to handle the small change?  Let free private enterprise figure out how to do nickles and dimes.

Trillions of dollars transacted every day?  The system can handle it.  Look at IPV6 on google to see what the system can handle at the level of trillions of uniquely identified websites.  It gives 1 followed by 35 zeros as the unique possibilities.

This is a seed thought.  Change the center to the true center or a better center that is  enabled by technology and the new view gives limitless possibilities.

The sad reality is that we could never do this in the USA.  China could.  The scenario would make a fascinating science fiction novel.  Like 1984?  It is all about money.  Whoever has the best money system rules as the center of the money world.  So, who rules when we have one world money?  The best player, not the owner of the ball or the score keeper.