When people want to communicate ideas they use language. Language is a medium of exchange. Without language people are reduced to physical touching or hand signals and have to be physically present with each other to communicate. With language people can exchange ideas with others in different centuries through books and in faraway places through the internet, newspapers and telephones. Sharing ideas leads to increasingly complex social agreements, concepts, inventions and discoveries, raising the standard of living and the level of expertise for the whole society.
When people want to exchange goods they use money. Money is a medium of exchange. Without money the marketplace is limited. People are reduced to barter and have to be physically present with each other to exchange goods. The choice of goods is limited to what is physically available and valued in the moment ~ one cow for one cart, one tomato for two eggs, three pieces of cloth for one shovel. With money the choice of goods expands to include everything that is available in all places in the present and future. The marketplace of goods, opportunity and choice is as diverse as human expression.
The social agreement to accept a symbol of value in lieu of exchanging immediate and tangible items ~ one for one ~ liberates individuals to specialize in more refined levels of creation rather than being consumed with producing everything needed for daily survival. One can focus on research, music or engineering, produce a specialty item or service, exchange one item for a symbol of value, and then use the symbol later to acquire an infinite array of items. This feature of time-delay in exchanging value for value frees everyone in society to pursue unique interests in the present and engage in social agreements that will manifest value in the future, culminating in greatly expanded sophistication of the marketplace.
Language and money are human inventions ~ abstract conceptual bridges between people that we use to exchange our creations ~ be they goods, services, talents or thoughts. Money and language allow us to share our creations with unknown and unseen receivers in distant lands and to receive the creations of others whom we have never met.
Imagine for a moment that people who speak the same language are unable to communicate because the word supply has been artificially contracted by a third party who is hoarding nouns and verbs. People have been told, and they believe, that words are privately owned and can only be used in conversation by incurring debt to the hoarder. In order to exchange ideas they must borrow words from the hoarder and pay back twice the number of words. This arrangement guarantees that word debt will always exceed the word supply and more words will have to be borrowed to meet the pay back demand. As the collective word debt of society increases exponentially the available word supply severely contracts and ideas cease to be exchanged. The culture becomes illiterate, the refined and complex features of society wither, creative collaboration ceases, social agreements become impossible, and the culture reverts to a primitive state. Historians describe this phenomenon as a collapse of civilization.
In the analogous medium of exchange ~ money ~ this phenomenon of inducing scarcity through artificial debt causes a severe contraction of the marketplace, extinguishing the exchange of creative talent, goods and services, and drastically reducing the whole society’s standard of living. As the privately-owned medium of exchange is withheld from circulation, unemployment rises and wages fall; collaborative ventures and investments cease; businesses wither for lack of customers; and family homes and farms are foreclosed. Private owners of the medium of exchange confiscate the land and tangible assets of society for repayment of debt and poverty spreads throughout the culture. Historically, collapse of the marketplace has been followed by famine, disease, illiteracy, extremely limited opportunity and primitive barter.
There is nothing natural about this cycle.
Everything in the universe exchanges energy ~ freely. Giving and receiving energy is a fundamental dynamic that sustains the great web of life, continually expanding Creation. The more easily giving and receiving is facilitated by an abundant medium of exchange, the more the energy field of human creativity expands ~ the collective marketplace of concepts, opportunities and tangible goods. The purpose of money is to make the energy exchanges between people easier and more fluid ~ to give them currency. Any impediment to this fluidity defeats the purpose of money, just as restricting or rationing language defeats communication.
Has the expansion of human creativity and well-being been the goal of using money or has the medium of exchange been privately owned and controlled to limit and exploit humanity? Only the human species inserts an abstract symbol of value into energy exchange and allows this symbol to be owned and rationed by a third party who contributes nothing to the exchange. It is no more rational to allow a handful of human beings to hoard or contract the money supply than to allow a handful of people to ration the supply of language.
A medium of exchange is a public utility and as such belongs to everyone. Its proper function is to expand opportunities for exchange so that humanity achieves its creative potential for contributing to the whole. Unlike a physical necessity, such as water, that might become scarce through natural phenomena, money can always be created at will, facilitating unlimited exchange among all people in all countries at all times.
Public ownership and regulation of the medium of exchange would permanently eliminate the artificial scarcity engineered by the owners of fiat debt and bring about nothing less than global renaissance ~ the complete transformation of human civilization.
Imagine the possibilities.
Every nation in the world crippled and looted by the international debt cartel (Wall Street, City of London, World Bank, IMF, Paris Club, central banks and ‘royal’ families) could henceforth print their own currency in whatever quantity is sufficient to retire their fictitious fiat debt and ensure that all citizens have the means to produce and exchange their creations. Every nation could spend its own currency into circulation, underwriting public education, infrastructure and universal health care. Every nation could renew family farms, produce its own food, restore native industries, abolish sweat shops, expel corporate polluters and repair environmental damage within its borders. Humanity would be liberated from centuries of colonial bondage simply by inactivating one negative control system and activating a positive one.
The light has come.
On November 23, 2010, Congressman Dennis Kucinich introduced HR 6550, the National Emergency Employment Defense Act. This historic legislation would restore the function of money-creation to the US Government ~ the public ~ as originally mandated by our Constitution, eliminating the control and ownership of our medium of exchange by private bankers. The US Treasury would directly issue and regulate our currency instead of borrowing imaginary keyboard credit from private banks, thereby retiring our debilitating public debt and ending the destructive cycle of economic contractions that have been draining our national resources for centuries.
This bill could languish in the House Financial Services Committee and never reach the House or Senate for a vote ~ if We the People fail to seize this astounding opportunity to change the course of history.
Educate your neighbors and friends, write letters to your local newspaper, and contact your representatives in Congress.