Any pundit who thinks they understand this concept called ‘money’ are invited to challenge my views below. Write a missive to counter my view and let’s create a challenge system to get to the bottom of this question: what is money? Today, I talked to more businessmen at my clubhouse (here in Arizona) on the question: what is money? I expressed my view that a new book must be written on this question (I have started collecting my data). Answers from users of money are interesting and revealing. Some say ‘green’ is money. Some say ‘digits’ are now money. Some say printed ‘notes’ are money. None, so far, have said that ‘gold’ is money. This surprises me. And some say they have no idea what money is. Let’s get more pundits into this discussion as ‘money’ rules our planet and our global system of commerce! Write your missive on this issue for all of us to read and evaluate.
Money is so important to many that they will die for the opportunity to get more money. Others will scheme and use psychological intrigue to gain more money assets for their portfolio. Politicians (many) will lie, cheat, steal, and distort reality if more money is offered to them. Brazil, Venezuela, and Russian politicians are currently in the news with serious ‘money’ issues and intrigue. So getting to the bottom of the question: what is money? could be relevant for making major changes to our system down the road. My view is basically that ‘money’ is a ‘phantom’ of our imagination (today). Money used to serve a viable purpose but no-longer does IMO. At its origin, American money ($) played a major role in our development, prosperity, and political success. It has allowed us to create global hegemony over this planet (given that we control most $$$ and their distribution on this planet). The American Empire can be attributed (to a major extent) to the success of the American dollar.
Today, it is my contention that our ‘money’ unit (the dollar) is mostly a ‘phantom’ of reality which emerges from our ‘inner’ self (being) and which has no existence within space/time. There is no money ‘thing’ anywhere within our greater material universe in my view. I can not locate, find, or discover this ‘thing’ called MONEY anywhere. When I look at the heavens I find no money. When I look at the earth I find no money. And when I look under the earth or under our water bodies I also find no money. An aerial view of our planet reveals NO money anywhere. So what is this ‘thing’ called money? Does anyone know? I use this item called money daily to do my duties and purchase my survival needs, yet when I ask pundits what this ‘thing’ is, they respond with all kinds of confusion, unawareness, and distortions. Why?
Today, my money is revealed within my various cyber accounts. I have cyber digits located at institutions like TDAmeritrade, Fidelity, Wells Fargo, and Chase. I trade cyber digits to increase and decrease my various cyber trading accounts. Most all my accounts now reside within this Netherworld space called Cyberspace. My accounts are within various computer screens. I look at my personal computer screen to discern how my cyber digits are performing within these various accounts. So isn’t it important to discern specifically what this ‘thing’ called money actually is? My personal view is that our money is now pure fantasy and illusion (mostly) and the unit is a phantom of reality. Let’s think about the ‘nature’ of this concept called money and the currency called our American dollar.
Is money (our current dollar) actually a ‘thing’ which exists within our space/time universe? I would suggest NO. Is money a concept of my mind/consciousness? I would suggest, YES. Money, to me, is purely an ‘inner’ concept of my metaphysical MIND. I think and/or invent money from my inner self (mind) prior to spending this unit. The best example for understanding money is to think and visualize what happened prior to us inventing money. I like to use the example of our original founders of America who came here via the Mayflower (1620) and started one of the first colonies at Plymouth Rock, Mass. These Americans had no official money as our country was yet to form. They bartered with the Indians (our native Americans) and planted crops (within the soil) so they could survive without any money.
Basically, Americans had NO money at their start and there was no private landholdings (ownership). The pilgrims later claimed land in the name of their foreign King and later created private property for their settlements. They then started primitive trading markets from their surplus productivity and bartered for goods and services. In time, the concept of a proxy for ‘value’ emerged within their inner self (mind). Keep in mind that trading involves this inner concept called ‘value’. The question emerged as to what could serve as a viable trading proxy for this inner concept called ‘value’. What do you think emerged over the years? Various goods took on the aura of being a viable proxy for ‘value’. Tobacco, corn, deer skins, beaver skins, wampum, silver coins, etc. took on this psychological aura of being a viable proxy.
Then as America grew and developed and after we created our Independence from King George (via the Revolutionary War) we decided to invent our own money concept. In 1785, the person called Thomas Jefferson (a genius on issues of money) thought up the idea that we needed a new American dollar to serve as our money unit. His idea then led him to ask the question: what should Americans invent as their money? Does the idea of a currency unit such as ‘dollar’ need a definition to be viable as our proxy for ‘value’? He concluded that this was absolutely necessary and a proposal was made to our first Congress in 1789 that our dollar be defined in terms of this commodity called silver. Then in 1792, our Congress passed legislation, called the Coinage Act of 1792, to legalize (make our new dollar legal tender for all goods and services). We now had a ‘thing’ called the American Dollar for trading, buying, selling, and saving.
Over these past 225 years our American dollar has taken on new changes and definitions and it has evolved into what today is called a cyber/digital dollar. The invention of the computer and our electromagnetic spectrum of frequencies has allowed us to create a new American dollar (mostly since the 1980’s) which now lives within Cyberspace. Cyber money has developed these past 30+ years as our computer technology has developed. With the creation of the Federal Reserve Act of 1913 and with FDR destroying the definition of our dollar in terms of gold (1933) we created the fiat paper dollar thereafter and now the virtual/digital dollar. Our private independent Federal Reserve banking system has created this phantom dollar which we now call the American CYBER dollar. This unit gets created ‘out-of-nothing’ (no material ‘thing’ as a definition) and it gets distributed globally via computer trading and various Fx transactions.
Math and numbers have replaced the ‘outer’ gold/silver dollar which I called a ‘thing’ and we now have a ‘no-thing’ dollar which lives within cyberspace (our inner being). This virtual dollar is now ubiquitous and serves as the Reserve currency for most of the World. Virtual money has emerged for our global trading system (since the closing of the gold exchange dollar in 1971). All foreign trade is now valued with a cyber dollar which has a phantom existence within this Netherworld space called Cyberspace. What is cyberspace? This is not the same as ‘observable’ space and/or space that we observe with our physical eyes. Cyberspace is a Netherworld which gets created by connecting computers and which gets revealed within our extended consciousness (our inner being). It has NO existence within our space/time universe IMO. Cyberspace can be viewed as an artificial space which accommodates this technology called the electronic computer.
Computers have existence within our space/time universe but cyberspace and cyber money have NO real existence IMO. That is my view of reality today. This means that our new cyber dollar is a ‘non-thing’ which has no real physical existence within our greater material universe. Can anyone find or possess this cyber unit? Does a virtual number in our computer screen represent a real ‘thing’ which exists permanently? What happens to a cyber dollar when the computer is shut-down? What happens when our authorities shut-down a market via their electric circuit breakers? What happens when our electrical grid is shut-down or made unavailable? What happens if the cyber numbers are wiped clean from a computer server by the choice of our authorities? What happens when a bank’s computer is made inoperative for exchanging these cyber units? What happens if our Central Bank and Political Authorities create a new Bank Holiday to reset the system?
My challenge to all the financial pundits and experts is to think about our new cyber money and to discern if this new global system is viable for longer-term trading and commerce. How does cyber money fulfill the core functions of money (standard of value, unit of account, medium of exchange, store of value)? If the unit has no substance and no physical existence how can it serve longer term as a unit of value and/or a store of value? What happens when the business cycle turns negative and our current bubble markets start to collapse? What happens to asset values during this decline/collapse of a normal business cycle? Could our cyber money go to ZERO? Could it vanish and disappear back into our inner consciousness? How stable is a cyber unit when the business cycle turns downward significantly? Give these considerations some reflection and then challenge my assumptions so we can further our understanding on this issue. Enjoy! Read my prior missives for more information on this issue of: What is money? I am: https://kingdomecon.wordpress.com.
Some images for your consideration:
Can anyone discover ‘money’ on planet Earth or anywhere within our greater material universe? What about this concept called ‘value’?
This concept called ‘money’ is so important that people will sacrifice their life for this phantom! Why?
Socrates originated the philosophy of Dualism. He viewed himself as non-physical (immortal)! He did not view himself as his body!
Can anyone find or locate money within our greater material universe? If not, then where is this ‘thing’ called money? Is it an ‘inner’ idea?
If Gold is Gold (Au), how can Gold be Money? Logic says Au = Au? Was J.P. Morgan deceived?
What underlies this proxy item called ‘money’? Is it the concept called ‘value’?
Items chosen as a proxy for this concept called ‘value’! What is ‘value’? Is ‘value’ subjective/imaginary?
Do ‘inner’ units such as our current cyber dollar have any ‘value’? Who gives ‘value’ to a cyber unit which gets created ‘out-of-nothing’?
Ralph suggests that money is an illusion which serves no purpose in itself. Do we still need money for today’s commerce?
Is cyber money an illusion or an observable reality? Where is this space called Cyberspace? Who can find it?
Aristotle (a Monist) would agree with above (mostly). Reality is composed of ‘things’ from matter or nature. If people choose gold as their money then one could assume that money is gold. But logic says that gold is gold (irrespective of any other chosen ‘name’). What is Dualism?
Under Dualism money is a unit of consciousness (the human spirit) and not a ‘thing’ which exists! Socrates would be the philosopher of Dualism. Plato expanded upon the Socratic philosophy.
If my mind is separate from my body then I would not be my ‘body’. I would be my ‘mind’! Mind is equivalent to my ‘inner’ self! Cyberspace, to me, derives from mental activity and is revealed within my extended consciousness!
This person who created the above images was correct until our paper dollar become our DIGITAL dollar. Today, digital money (also called cyber money) is created by merely ‘typing’ numbers into the computer screen (cyberspace). Out of thin air derives more thin air (abstractions produce abstractions)!
A commercial banker in the process of creating money via typing numbers into cyberspace!
Banks actually do not create money…bankers create money. They create cyber units by ‘typing’ numbers into cyberspace!
QE is quantitative easing. QE starts with the Central Bank typing new cyber cash into their own account. They then spend this QE money to manipulate the markets! Central Banks also trade our markets to create our bubble economy!
We need to get educated on this issue of What is Money! Our survival is dependent upon understanding this concept and where money derives from!
Where is money on this planet called Earth? Do bankers just create $$$ and enslave humans on this planet? What do you think? Is money now a tool for enslavement? Could we eliminate money from this planet? What do you think?
The electromagnetic spectrum could be free for all humanity. Smart phones are not needed for our money needs. We could eliminate all money going forward! The ‘root of most evil’ derives from this concept called ‘money’!
A world without money is possible and realistic today. Robots and computer technologies can replace physical production via labor. Money could be eliminated if people desire to change and live as equals. Kingdom Economics could be a model for our future!