Mike Maloney's Hidden secrets of money part 5. | |
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Levi Philos User ID: 590644 United States 07/30/2014 02:30 PM Report Abusive Post Report Copyright Violation | There is now a fifth video in the series titled "Hidden Secrets of Money." Just go to Maloney's You Tube channel and look for the series: [link to www.youtube.com] You can certainly comprehend the truth of what I post frequently: "MONEY IS A CULTURAL DECISION MAKING MACHINE; THE CULTURE YOU LIVE WITHIN IS SHAPED BY THE MONEY SYSTEM. IF YOU DO NOT ENJOY YOUR CULTURE, THEN YOU MUST ENGAGE IN ALTERATION OR MODIFICATION OF THE MONEY SYSTEM" Many clues and a few answers found in this thread: Thread: Get rid of the money system, then get rid of goverrments (Page 58) Start anywhere in that thread and read forward to the end or backward to the beginning. Link heavy. My personal conclusion is that money is essentially a communication by means of symbols and contracts that enable the exchange of ownership of real things by means of proxy instruments. The critical questions surround the problem of assuring specific performance of contract. In other words, "How do you assure truth in the monetary communications?" To assure truth in money (the name of a book) we may use a combination of reputation records and performance bonds. Precious metals can be recognized as one of many ways to "store value" in a communication theory of money and these stores of value used in the performance bond role. Full comprehension of this concept can lead to a smoother working monetary system. |
Levi Philos User ID: 590644 United States 07/30/2014 02:45 PM Report Abusive Post Report Copyright Violation | However, he engages in what can only be described as circular reasoning. The complete loop is larger, but reduced to the simple elements consists of “Gold is money, therefore money is gold.” (Or silver) In attempting to understand the scope of the problem, one must ask the right questions. Soon you might recognize that the store of value function is at odds to the medium of exchange function. Then one might inquire whether these can be split – how and to what effect? The value reference could also be quite another item, and I gradually came to the conclusion that human time might be the value reference... Quantity theory; isn't precious metals as the redemption all about limiting quantity? So then, might we associate a time note with population demographics? So many hours in circulation in a direct proportion to the numbers of working adults? And if the promissory note is the basis for the present system, then might we denominate the promissory notes in units of human time and use a partial backing of a deposit of precious metal coinage as a performance bond? Try to ask some new and original questions, and you will be rewarded with some new and original answers. |
Levi Philos User ID: 590644 United States 07/31/2014 07:30 AM Report Abusive Post Report Copyright Violation | Found at the top of page 48 [link to www.godlikeproductions.com] Usury (was - Why the Greenbackers Are Wrong) Quoting: Anonymous Coward 3131543 The coinage charge is more correctly referred to as a "Franking charge." The seigniorage is an imaginary value added to the coin. Thus in the example Mn supplied: "The St. Louis Fed Answers: Why There’s No Gold Standard Douglas French · December 31, 2012" [link to lfb.org] First an ounce of gold is called "Twenty Dollars" - then an ounce of gold is "revalued" as "thirty five dollars" - this is the seigniorage. The King claims to be the owner of that imaginary increment (the seigniorage). When a strict credit instrument is being traded as money it is all seigniorage. The evolution over decades from partial redemption to zero redemption in specie was the change from some embedded value to zero embedded value. The question evolved from "Where's the beef?" to "Do you hear the cow?" and far off we can only hear a "moo" bouncing between the hills. When the money is all credit (100% seigniorage), then that seigniorage must be vested with the people by one mechanism or another. That is why I say that a mutual credit money system must be owned by the people in some socialistic manner. Gold and silver coin can be owned by individuals, but mutual credit is a communal form. So, now if You, the reader, wish to accuse me of being a communist, then I must confess guilty. A whole lot of problems could have been avoided if at inception money could have been defined as silver and gold coin exchanged by weight and purity and with no additional numbers affixed to the coins and with no fixed ratios in exchange. Such a system could fluctuate in relative value to any other commodity and to the value of labor and be completely self-adjusting. Furthermore I assert that multiple systems should be designed to run in parallel. A system based upon specie coinage such as gold, silver, and platinum with no fixed value ratio between them. A second system based upon a unit of energy such as a kilowatt-hour of electricity, and a third system based upon the human hour. There should be no attempt made to regulate the exchange rates between these systems. That creates a self-regulation that brings in a era of stability never before found in exchange media. |
Levi Philos User ID: 590644 United States 07/31/2014 07:41 AM Report Abusive Post Report Copyright Violation | This entry discussing proper assignment of seigniorage in a credit money system was found here: Thread: Central Banks Told to head for exit ABANDON GLOBAL RECOVERY (Page 2) It is all about vesting of the seigniorage in money. Allow me to explain once again. All forms of money are partially real, partially illusion. Even something as real as a precious metal coin has a physical presence with real properties and multiple industrial and jewelry uses - but when you begin using that commodity as a coin currency - the same commodity acquires an imaginary quality - an additional added imaginary value that reflects upon it's usefulness in commercial exchange. This additional (imaginary) value is the seigniorage. So long as there is redemption available in physical coinage then the seigniorage is vested in the physical coin. Historically the seigniorage value was claimed to be the property of the royalty running the show. However, with a non-redeemable paper currency (fiat if that is your preferred term) ALL OF THE VALUE IS IMAGINARY – and in the present system all of the imaginary value (the seigniorage) is said to be owned (vested) with the banks. This major alteration was implemented under Roosevelt in the 30s. It is the fifth plank of the communist manifesto. The credit of the people (the seigniorage) is claimed to be the property of the government. The government in turn assigns by license to the banks the right to loan credit to the people. WHILE CREATING A MEME THAT CREDIT IS SOMEHOW IN SHORTAGE JUST AS GOLD OR SILVER MIGHT BE IN SHORTAGE? The people’s credit should never be in shortage so long as there are people able and available and willing to perform intellectual and physical labor. If the seigniorage value of an imaginary fiat currency is assigned to the banksters, then over time the bankers will end up owning everything. If the seigniorage value of an imaginary fiat currency is assigned to the governsters, then over time the governors will end up owning everything. With a currency of no intrinsic value (no lawful redemption in a commodity) the seigniorage value must be vested with the people and over time the people will own everything. |
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Levi Philos User ID: 590644 United States 07/31/2014 10:28 AM Report Abusive Post Report Copyright Violation | Bill Still's YouTube channel: [link to www.youtube.com] Lots of political commentary there. His latest video is titled Jekyll Island, The Truth About The Federal Reserve Lots of links; here is one: [link to www.freestreamings.com] That is quite obviously a take-off on Griffin's Creature from Jekyll Island I doubt however that Griffin has lodged any complaint in the matter. It likely gains him more support. |
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