Cut to chase and go to the last line of this blog. It is the first line of what I want to write.
We anthropomorphise money. It walks, it talks, has human attributes and behaviors. People are fundamentally classified by it. Rich and poor.
If money were a person it would be all people collectively as well. We all have a vital association with it. All money is debt money. By our inescapable association with it we are all in debt to the creators of the monetary system. We are slaves held in bondage by the debt based monetary system owned by the debt creator: Banks.
The US Central Bank is the New York Federal Reserve Bank. The "Fed". A quasi governmental agency chartered by law in 1913 and subject to government control through the Federal Reserve Board. In reality the government is an agent of the Fed and even the government has an obligational bondage relationship with the Fed equivalent to and perhaps even more fundamental than that of monetary debt. Government provides the ultimate collateral "full faith" backing of the debt based monetary system.
We are slaves to the debt based monetary system and therefore we, collectively as a government of the people compose and entity, our government, that is a slave to the debt based monetary system.
It is ironic and pathetically amusing when slaves in bondage no longer have to be driven in slavery by the master. When they have been so long in slavery that they become self driven by a whip in their own hand. That is exactly the scenario being played out with the National Debt issue.
One way to free the slaves of the monetary system, all of us, is the MMT school of thought that says, and it is true, that National Debt is equal to our National Savings, to the penny. We are not reasonably constrained by debt limitations because we are the creators of money issued into the monetary system by government spending. The net cumulative debt created by government deficit spending since our nation is in fact equal to our current National Debt of about $16 trillion, which is equal to the $16 trillion in our collective savings accounts. This is absolutely true but a hell of a way to explain the National Debt.
Explaining the MMT concept of National Debt is like starting with a bad thing by popular definition and explaining that it is not a bad thing at all if you bend over backwards in your thinking. Not to manipulate it into not being a bad thing by deception, but by changing the frame of reference so that at least is a reasonable thing if looked at in a new way in the new frame. Nevertheless, the larger frame of the debt based monetary system remains the frame of explanation that debt is savings. That equation debt = savings is a difficult one to grasp, even if provable to be true, and it is. Tell it to the slaves and they will continue to beat themselves with the debt money whip and demand austerity. Less food and more work servitude.
The other way to free the slaves of the monetary system is to change the system from debt based to a debt free monetary system. That is the reason for the existence of this blog and everything I have written in it. That was the specific purpose from the first entry made 6 Feb. 2011 with the title "Private Money". That entry was preceded by a compulsive examination beginning in 2008 in an attempt to understand our monetary system.
Money and the monetary system is a microcosm of a bigger picture frame were are held bondage to beliefs within a frame of system structure. At times in this blog I have examined the higher level frame which is simply a problem domain of greater magnitude but solvable by the same methodology. That methodology is the Object Oriented Paradigm that permeates my examination of the monetary system and produces my proposals for a debt free serialized digital dollar in a unit value of one with an object identity defined by its own attributes and behaviors independent of its associated high level entity called Account.
Bitcoin approached the problem domain of replacing a debt based monetary system with a debt free monetary system in a different manner. Mine was highly centralized and traceable. Bitcoin is peer to peer decentralized and untraceable. However, entirely on intuition, I feel that Bitcoin will become the antithesis of what it presents itself to be a the present time. It will be highly centralized, controlled and traceable in the Open Source and Cloud frame of the future. An alternate manner to my approach and implemented in Open Source programmed structure far beyond the structure of thoughts in my head that would go in that direction if I had the time, talent and money to implement them. Bitcoin got to the "gold standard" of debt free money so far ahead of me that I am still at the start line. Like racing in different time zones!
I saw Bitcoin coming a couple years ago when it started. Like I saw Google coming but failed to recognize it to the extent of acting on it by investing, other big things that I knew would be next big thing. I was content to have invested all I had in Oracle 25 years ago. Enough is enough. No need to ratify my recognition of a future I see in a crystal ball with a score maintained in dollars. I just award myself points and I gained a few gazing into the crystal ball of this blog. I lost a few by not shifting to a priority of focus examination of Bitcoin early on.
If money were a person it would cry out the famous words of Martin Luther King. "Free at Last." The "Dream Speech" was prophetic. It foresaw the day that would come based on a new structure of social justice. A work long in progress but founded on the right frame for its implementation. A frame adopted by few long ago but gaining in power and righteousness over the march of time. It took time. Freedom from the bondage of our own failed beliefs. Freed from the domination of beliefs that made us all slaves.
Big things, paradigm shifts happen much faster now and the primary enabler to swift fundamental change is the internet.
Bitcoin is going to happen fast. Bitcoin has seized the day and carries the banner of debt free money. It is going to happen fast because there is a great amount of money to be made on its implementation.
I want to gaze into my crystal ball and see what the future of debt free money under the Bitcoin banner will be. However, it will solve the problem domain of the debt based monetary system so perhaps it is time to move on to a higher level problem domain that has lurking in the dark beyond which I have cast some light in the little circle of money.
The bigger the idea, the sooner it wakes me up to capture it. This one woke me at 3 am.
Must be big.
Still waiting for the big one to hit that keeps me from going to sleep at all.
Maybe I can sleep later after this one if I am free at last from the money problem.
In 1988 I picked up a large, slippery crystal rock from the ocean shore in a tropical area. I asked myself: What if this was a diamond? Then I threw it back in the ocean. I did not need it but I gave myself points for doing that. I regret not keeping it and perhaps giving something of real substance to someone that did need it. Maybe the rock was really was worth nothing at all. Was the regret that I failed to find out its value for someone else and give it to them.
A Change is Gonna Come The ending picture in the video. What may be his regrets?
What is it that I have of possibly great value to give to someone else when and where I might again be standing with something in my hand on the shore of a tropical ocean?
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