It would be worthwhile to examine the current system where "Account" is king of the banking structure. The enemy structure. Actually a weak structure but one that must be understood to find its weakest point in order to demolish it. Its weakest point is what it is built on and it must defend at any cost: The object called: "Account".
Perhaps what I am seeing when I look at the writing on the wall that the banking world is not really all about money. It is all revolves around an account. In fact if the banking world was all about money and revolved around money it would be an entirely different world. One that I would enjoy designing for them.
My problem is that I have been so focused on what money is that I may have failed to see that money is not foremost in the bankster mind and how they organize their system. It is Account. We, the simple people, think that it is all about the money.
Know thine enemy; look at it from the bankster perspective. What they built their system upon to serve themselves. I think that they built it on a rock called Account. The last thing they would really want to build it on would be money. Money, as an object, is what our modern object oriented analysis and design method technology demands it be built upon . How can they possibly conserve the old way established system of everything revolving around account as the fundamental building block of the banking system when the entire system must be rebuilt on revised definition of money dictating a new system structure. A structure that will apparently function the same to the end user but destroy the cancer that has crippled it.
The monetary system structured on money is a higher level operating system. The banking/financial system is a mid-level application program in the operating system as well as having an interface with end users who are real producers and consumers of goods and services at the retail level.
Account. Customer Account. That is the key to the banking structure. The concept of Account is the king and center of the bank world. The all inclusive object that ties everything in the bank world together. Money does not even fundamentally exist as an object in the bank world. That is the beauty of banking, they create it out of nothing.
Side note: Sea story telling time......................
There is a tradition in accordance with sea stories told in the navy, true or not, that the departing captain of a ship leaves something for the new ship's captain in the captain's safe. A word of advice, an object, whatever he (or now she but this is an old story) wishes to leave behind. The combination to the safe in the captain's cabin is handed to the new captain immediately prior the departing captain being piped over the side.
The story is that a departing captain said to his replacement while handing him the combination before going ashore for the last time: "All you need to know about being a captain and running this ship is in the safe.
Upon opening the safe the new captain found a piece of paper that said: Port is left. Starboard is right.
There are variations of the story. After all, long periods of time are spent at sea and you don't want to tell the same story twice. Another variation is that prior to every time the captain wanted to give a rudder order to the helmsman he went to his sea cabin. Something the crew puzzled about. Before he left the ship for the last time one of the braver crew members asked why he did that. The captain said: "There is a piece of well worn paper in there that the prior captain gave me. Written on it are these words: Port is left. Starboard is right.
Tell it well enough and shipmates will laugh.
Banking is just as simple. All you need to know is: Debit adds or subtracts and Credit subtracts or adds.
You aren't laughing now because the joke is on us. Actually the hoax is on us.
The duality of the object:Account. The dual nature concept of Account is expressed by which side of the balance sheet it is on, asset or liability. They are equal and balance and debits and credits reverse positive and negative effect depending on which side of the balance sheet they operate on. This balancing duality accounting system that was devised and is a legacy of the concept of double entry bookkeeping established in the 15th century.
The bank record at both the micro and macro level to which this concept is applied is the Account.
The ambiguity of the word Account is illustrated by the Wikipedia definition. Applied long by ancient bankers to the primary financial record on which to record money information, their own as well as account customers. Now the term applies generically to all registrations of business customers to their identifying numbers for financial and numerous other purposes. Account numbering ontology structures organize institutional accounts. Within government for example.
Banking accounts were balance sheet accounts. Recently I learned that the magnitude off-balance sheet accounts and accounting has grown dramatically over the past 30 years.
An off-balance sheet account is one thing. Off-balance sheet accounting either is a method for doing legal accounting or misleading deceptive fraud. Any account not associated with the balance sheet account system is an off-balance sheet account. However off-balance sheet within the domain of the balance sheet accounting system is almost by definition: fraud. An account and the accounting within an accounting system look like the same "account" thing. They are different a thing although they may appear the the same.
Recently, the banking world has successfully managed to change the definition of off-balance sheet accounting from fraud to legal practice, at least as far as government enforcement goes because illegal fraud that is not prosecuted is by default legal. In other more blatant terms: If you can get away with it then it is legal.
Conclusion: Accounts can easily be manipulated by accounting for any purpose. Computers make manipulation easy. That is their fundamental purpose like guns are made to shoot. Their use however is another matter. Bankers will not give up their accounts nor their accounting system objectives until they are pried from their cold dead hands. Any outside control over their accounts or their use of them is to be denied and defeated at any cost. The problem here is that the People's money exists solely in the accounts of bankers, accounts both on and off the bank balance sheet. On-balance sheet accounts are only avenues of entry to off-balance sheet accounts where even more games can be played by even looser rules.
Bankers have their own NRA to defend the right to own and use their weapon of choice.
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