Part 2 –
The medium of exchanges relevance cannot be judged accurately over shorter-run periods of time, it must be taken back to its start to see the correct data and evidence. I don’t hold all this knowledge, there is much work to be done in this area of study. we will start in a familiar area.
Let’s look at Gold.
The history of gold begins in remote antiquity. But without hard archaeological evidence to pinpoint the time and place of man’s first encounter with the yellow metal, we can only conjecture about those persons, who at various places and at different times first came upon native gold. Experts of fossil study have observed that bits of natural gold were found in Spanish caves about 40,000 B.C. Consequently, it is not surprising that historical sources cannot agree on the precise date that gold was first used.
GOLD is the oldest “precious” metal known to man. And why is that? A lot of people believe it’s because of its scarcity and how difficult it was in the process of metallurgy and mining. But I’m here to explain that is actually because of its symbolic value that correlates back to the mystery traditions and ancient religion of the solar cult in Egypt. Gold a symbol for the Sun, and before we were capable of doing any kind of metallurgy or mining the symbol for the sun was of the most important and precious value especially for means of worship. As humanity progressed and its skills when agriculture started to take bloom, it gained even more “value.” We can see this in things like the solar cults of Egypt’s history and later the alchemical traditions. Gold is synonymous with the Sun or a symbol for “God” which has been replaced with paper money. Just drop the L in gold and you get God. The concept of a medium of exchange is derived from regions think. And on the dollar bills it says “In God We Trust.” With the symbol of the all seeing eye which in the solar doctrine is a symbol of Horus the Sun.
Why gold is “good as gold” is an intriguing question. Dr. Sigmund Freud, the founder of psychoanalysis, suggested that “our fascination with gold is related to the erotic fantasies.” Some think that the more pragmatic ancient Egyptians were perhaps more accurate in observing that gold’s value was a function of its pleasing physical characteristics and its scarcity. But ultimately was starting to take more of a value amongst the people because of its sentimental purposes due to the grounds of likeness attributes of the yellow being related to the yellow rays of the sun or yellow color of the sun.
The first gold coins were minted under the order of King Croesus of Lydia (a region of present-day Turkey) in about 560 BC. Gold coins were commonly used in transactions up through the early 1900s. When paper currency became a more common form of exchange. Gold coins were issued in two types of units. Some were denominated in units of currency, such as dollars, while others were issued in standard weights, such as ounces or grams.
Maat or Ma’at was the ancient Egyptian concept of truth, balance, order, harmony, natural law, morality, and justice. In the Duat, the Egyptian underworld, the hearts of the dead were said to be weighed against her single “Feather of Ma’at”, symbolically representing the concept of Maat,f the heart was found to be lighter or equal in weight to the feather of Maat, the deceased had led a virtuous life and would go on to Aaru. A heart which was unworthy was devoured by the goddess Ammit and its owner condemned to remain in the Duat. We see in modern Christianity that you can “purchase” indulgences, a claim of freeing oneself from temporal punishment for “sin” through a medium of exchange.
A medium of exchange; is an intermediary used in trade to avoid the “inconveniences” of a pure barter system. A medium of exchange “permits” the value of goods to be “assessed and rendered” in terms of the intermediary, most often, a form of money widely accepted to buy any other good as long as another excepts that and can find a use for it.
Fiat currency =Toilet Paper Money
The history of fiat currency, to put it kindly, has been one of failure. In fact, EVERY fiat currency since the Romans first began the practice in the first century has ended in devaluation and eventual collapse, of not only the currency but of the economy that housed the fiat currency as well. Fiat currencies are the generally accepted a medium of exchange.
Although Rome didn’t actually have paper money, it provided one of the first examples of true debasement of a currency. The denarius, Rome’s coinage of the time, was, essentially, pure silver at the beginning of the first century A.D. By A.D. 54, Emperor Nero had entered the scene, and the denarius was approximately 94% silver. By around A.D.100, the denarius’ silver content was down to 85%.
Fiat money is a currency that a government has declared to be legal tender, ( see part 1 ) but it is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of.
All national currencies in circulation, issued and managed by the respective central banks, are fiat currencies.
Let’s take a look at alchemy –
Alchemy/Freemasonry encompasses some of the oldest spiritual traditions in existence. Alchemy is derived from hermeticism which takes its roots from the ancient adepts of Freemasonry in Egypt. In the physical sense, the earliest alchemist were “shamans-smiths” who pass down the carefully guarded secrets of mining and metallurgy from master to apprentice. Secrets of metallurgy have always been considered sacred knowledge, to be transmitted only through rites of initiation. Consider how many myth’s describe the “Smith God,” for example in Greek mythology we have Hephaestus, the First Craftsman the God of Fire & Lightning, Metallurgy, Completion, Arts, and Perfection. (Anthropomorphized Elemental Powers) The act of taking gems or metals from the earth mother, and “transmuting” them, was viewed as a Spiritual Relationship between Man and his Higher Self. This is where we get our concepts of the dwarfs which were the “alchemist- smiths.”
Metaphysically, Alchemy is about transmuting “lead” or symbolically lower consciousness into “gold” symbolically higher consciousness. The word alchemy literally means “out of darkness”, which ultimately is at its roots teaching a moral principle through a call tradition and symbolic allegorical form. “Out of Darkness, into Light.”
In the tradition of alchemy, it is asserted that all base modes of human consciousness or base “metals” are in an imperfect form of pure consciousness, (gold) and that all metals are ordained by nature to become the perfect “gold of the sun” or “Enlightened.” The alchemist seeks to remove from his or her thoughts, emotions, and actions their disorderly imperfections, or base characteristics, and order to bring them to their true nature or harmony with natural law, and to transmute them into “alchemical gold” representing the purification of Body, Mind, and Spirit. Which is where we can see why it is referred to as “out of darkness, into light.”
I hope this is starting to show a pattern now, whereas the lust after gold is not just because of its scarcity or beauty or function. But more so because of this understanding the ancients had and how we ascend in consciousness. Which was being preserved through a symbolic form. When the solar doctrine arose, is when we start to see the obsession and lusting over this form of medium of exchange being that a high priest class that held knowledge of how the human psyche worked were manipulating and controlling the lower classes through and knowledge power differential. I believe that this high priest class knew that there was no way of completely removing this understanding of how we raise ourselves in consciousness so they decided through a process of incrementalism they would steer the perceptions and the beliefs systems of the populace into the proxy form of spiritual ascension.
During this era of solar doctrine, is when we see a rise to man’s greed for materialism. Simultaneously perverting the mystery traditions by replacing by way of proxy. Of course many will argue what about all the “advancements” we’ve gained because of that?( like that is somehow necessary for us to advance…)
The acquisition of an out of balance materialistic gain is a sacrifice of the spiritual ascension.
“In studying the sacred science the first point that the student must understand is that they will give him no powers or opportunities greater than those which he has prepared himself to receive by the life he has lived. The daily life is the test of the student, and the and until he lives true to the laws of nature he can never gain anything from study. For the esoteric wisdom is not a series of intellectual facts but a living, spiritual thing which can be recognized only by those who live and think in harmony with it. The student of the mysteries must learn to be patient. He must be prepared to strive for ages without reward, with no more encouragement than the relaxation of the life work well done. The study of man can be pursued successfully only by those who have acquired the qualities of reverence and perseverance. Each must study principles and not personalities.” – Manly P Hall
Alchemy is another form of Freemasonry. Freemasonry is considered by its adherences to be a system of morality which is veiled in allegory and illustrated by symbol. Freemasonry is an ancient esoteric tradition which is about knowing the self, becoming a builder of a better mind and soul and ultimately the resurrection of morality within the human being. This is personified by the legend of the master builder Hiram. (Hi= High Ram=Aries, the Sun at the Spring Equinox)
So we can see right away that these traditions are rooted in the same allegorical principles.
There is obviously two forms of Freemasonry, one is esoteric which is about teaching the allegorical principles of natural law and morality. The other is a lodge system which is simply a frat boys club for aristocratic douche bags.
Let’s look at Hermeticism –
“No Problem can be solved by the same level of consciousness that created it.” – Albert Einstein
Once the species has reached a higher enough consciousness level and has the abundance that they all share, any medium exchange that they’re using becomes completely irrelevant & unnecessary, simply a waste of energy. I’ll try to explain this here but it is something that needs to be extrapolated on a lot more than just a simple few paragraphs.
If all the needs are met through abundance the only thing that people would be using a medium of exchange for would be specialties. Such as art music or unique skills and labors. But why do most people even charge for those if their needs are met? I guess you could use it to get other specialties. mostly they are usually trying to acquire the units or a symbol based on the subjective value that has to be accepted by other people in which he would want to trade with. They are usually trying to acquire the needs that they are in lack of. But if those needs are met then what is the point of even having a medium of exchange?
There is a point where the subjective value becomes too identified with and dilute’s the value of the actual labor. We put too much trust into it instead of each other where we have to use it as a symbol of our trust to exchange with each other. The true currency is actually the time and attention that goes into the labor to acquire or create such. Which is where the true value lies the quality of the input into labor. For instance, if you are trying to clean water the Knowledge, and effort determines the output of quality of the water. If I only spent one hour in the woods collecting berries compared to 10 hours the quality of my product of labor would be lacking.
There is an innate value within labor but not the medium of exchange. It is the value that is subjective based on the whims of the perceptions of the individuals that are using such a medium. The only thing that would really be a charged for would be labor which is the input or the true value that is necessary for the gathering of energy, and the distribution of it. Especially if we start using technology for the betterment of mankind, like automated systems, and Free energy but People fear this because of their lack of imagination, thinking that they’re actually losing jobs when really the automation of like gardening, for example, would give people more time to distribute their energy into other areas, specialties being music art etc. nd create more product. But considering that there is no more imagination in most people’s minds, this is a big fear for them. Because it’s a big mirror they have to face themselves in it.
We will have to add in that you might want to medium of changed to trade for specialty items or specialty skills. But that even becomes irrelevant and unnecessary once the needs are met in abundance in a species with the capacity. Actually, they’ve done studies and shown what happens in the animal kingdom when animals are given an abundance, which is very astounding. Instead of the animals being so aggressive towards each other and living solely through survival instinct of mechanisms, they actually started to cooperate with and in the environment, they became much healthier, and the behaviors of those animals changed into a more cooperative behavior. When see in history, if the people are under great stress the art declines.
A free market with currency/money? There is no such thing as a free market with any type of “medium of exchange.” Those ideas are antithetical to each other. of course, other people have wrapped it up and use the tactic of incrementalism to change what a free market really stands for, kinda similar to the Tesla movement where people think that free energy means that you pay for it. In a free market, the only thing being exchanged would be the people’s Product’s, Time, and Attention.
As the quality and quantity of production increases in the Society, the need for the medium decreases in the society. There is a requirement to be met for what I am talking about to manifest. Which honestly, I don’t see happening anytime soon. Ask the real critical questions like why do we even use money? why did it come into existence in the first place? And I mean the root of the idea dating all the way back to the rise of hero cult crap. We can see right away that all forms of currency are based in the worship of solar doctrine, and solar doctrine is one of the issues that we are facing. It has permeated all institutionalized belief systems of the world.
I want to make it clear that this does not mean I am against progressive steps towards alternative currencies, but I do see that no matter how this is applied, natural law will always govern the outcome and give us exactly what we deserve based on the input. Thus this will even end up being used against us because it’s doing nothing but rearranging the chairs on the Titanic. It hasn’t actually tackled the root cause of the problem. Which is in the mind or consciousness of the people. I see the medium of exchange as a form of Authority. The more you got of it, the more “Authority” you got.
All forms of a medium of exchange become irrelevant once the species has reached a higher enough consciousness level and is wielding that consciousness for the betterment of humankind, in conjunction with technological advancement.
An exchange of “goods” is just fine, or a bartering system is an amazing way to step into a better more productive system of trade. ( no middleman or medium ) in a system of abundance. I know most people do not understand what I’m talking about with a system of abundance. So simply clarify, I’m talking about Free Energy that can be acquired with technology that has been around for a long time coming from the great ideas of Nikola Tesla, Walter Russell, and Wilhelm Rech. All of our cars, houses, facility’s, industries businesses etc. would be ran off Free Energy. The idea that you need a medium exchange does nothing but waste energy and resist the ability for the beings to have a true exchange ( 1 on 1 ) of the actual thing of value. By putting this other thing in the equation you now are just complicating the scenario which could just be a simplistic exchange between individuals. But this obviously has to occur out of True Care.
Obviously, there are two things of value one being the value that was put into acquiring or creating such item, to being the Quality and function or utilization of such item. what do I mean by it becomes irrelevant and unnecessary, well in the system of abundance what is the reason be for us to even use a medium of exchange? At that point, the medium of exchange becomes pretty much a waste of our time. Playing through fantasy and not stepping into reality. It becomes illogical and pointless. I don’t think we’re just going to continue to use the system, even know it takes up all of our time and it is completely irrelevant and unnecessary to be using it when we can just be exchanging with each other, instead of setting up this whole system of symbolic third-party subjective value to use as an intermediary for our exchange.
All forms of a medium of exchange is based in symbolic language, and until we understand the archetype realm we will not understand what I mean. A lot of people are not understanding, currency and money is being placed as a proxy as which gives the ability to create in the world. But truly it actually is the resisting factor to that which allows you to create. People equate money to the evolution of the species when it does not evolve the species, it prevents the species from evolving. One of the ways that solar doctrine binds people, is the belief in the medium of exchange. Which is based in a dogmatic religion. I know there is a “difference” between money, and currency and other mediums of exchange, I am using them unanimously based on the root belief system, and at that level there is no difference.
The way I see all medium of exchange is nothing but a symbol of distrust between individuals and the lack of True Care to actually make the world better. It’s a religion that hold’s us back from a more logical and efficient way of living here together. What I’m trying to point out is the irrelevancy of it once a society or species has reached a certain level of abundance. In a system of abundance, the medium change does nothing more than resist you from being able to access that.
What is it to say that we cannot imagine the world without a medium of exchange? well, it really starts to look like a religion. ( Part 1) It is a religion, that is placing the priest between you and “God.” And I am no fool, it will be a long time before we ever see the kind of consciousness that I’m talking about. None of these ideas will ever work through any kind of communist or socialist system, all this must be done out of volunteer effort with no state control/government, in other word’s, slavery must end. There can be no wrongful acquirement of other people’s property to give out to other people.
The Greek philosopher Aristotle contemplated on the “nature of money.” He considered that every object has two uses, the first being the original purpose for which the object was designed, and the second possibility is to conceive of the object as an item to sell or barter.
Let us define the word Nature; “nature, being, the principle of life; character, essence,” Inherent; having basis in reality, not made or caused by humankind.
So when we ask what is the “nature” of something, it’s like asking what is the nature of a computer? To take information in then process it, then output that information. So, what is the “nature” of money? It’s to resist the access to energy.
People could argue that if it “naturally” occurs through human manifestation that it is part of the natural cycle. Which is kind of like a preordained destiny idea leaving out the component of FREEWILL. Yes, some things do “naturally” occur but when it comes to human behavior that is so small it’s almost not worth talking about.
There can be no form of “collectivization” like Stalin tried. Stalin’s regime moved to force collectivization of agriculture. This was intended to increase agricultural output from large-scale mechanized farms, to bring the peasantry under more direct political control, and to make tax collection more efficient. Collectivization brought social change on a scale not seen since the abolition of serfdom in 1861 and alienation from control of the land and its produce. Collectivization also meant a drastic drop in living standards for many peasants, and it faced violent reaction among the peasantry.
The two overarching requirements for any type of collective shift into a non-medium of exchange system. 1. Slavery must be ended. (absence of authority) There cannot be enforced through means of violence or under any form of authoritarian governmental control. This cannot be done through any means of the destruction of the individual’s Rights. 2. Free energy must be shared. This can only be accomplished if we work together through a voluntarily cooperative network of free energy distribution. (Who would not want to help provide free energy for the species? who would not want to spend their time maintaining the facilities that would produce such an abundance? I’m sure there is a feel but I guarantee there is a mass amount of people that would step readily into the position.) I say there would need to be an independent free energy distribution, and a collective network of free energy distribution. All this needs to be thought out in scrupulous detail but it can be done.
Part 3 will be coming soon.
– Down below some info for more study –
———————-Money Versus Currency————————
“The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money.
Money is historically an emergent market phenomenon establishing a commodity money…”
“The word “money” is believed to originate from a temple of Juno, on Capitoline, one of Rome’s seven hills. In the ancient world Juno was often associated with money. The temple of Juno Moneta at Rome was the place where the mint of Ancient Rome was located. The name “Juno” may derive from the Etruscan goddess Uni (which means “the one”, “unique”, “unit”, “union”, “united”) and “Moneta” either from the Latin word “monere” (remind, warn, or instruct) or the Greek word “moneres” (alone, unique).
In the Western world, a prevalent term for coin-money has been specie, stemming from Latin in specie, meaning ‘in kind’.”
“Many things have been used as a medium of exchange in markets including, for example, livestock and sacks of cereal grain (from which the Shekel is derived) – things directly useful in themselves, but also sometimes merely attractive items such as cowry shells or beads were exchanged for more useful commodities. Precious metals, from which early coins were made, fall into both categories.”
Alternatives to Money
“In Politics Book 1:9 (c.350 B.C.) the Greek philosopher Aristotle contemplated on the nature of money. He considered that every object has two uses, the first being the original purpose for which the object was designed, and the second possibility is to conceive of the object as an item to sell or barter. The assignment of monetary value to an otherwise insignificant object such as a coin or promissory note arises as people and their trading associate evolves a psychological capacity to place trust in each other and in external authority within barter exchange.”
“The capacity to carry out barter transactions is limited in that it depends on a coincidence of wants. The seller of food grain has to find the buyer who wants to buy grain and who also could offer in return something the seller wants to buy. There is no agreed standard measure into which both seller and buyer could exchange commodities according to their relative value of all the various goods and services offered by other potential barter partners.”
“For example, if a wheat farmer needs what a fruit farmer produces, a direct swap is impossible as seasonal fruit would spoil before the grain harvest. A solution is to trade fruit for wheat indirectly through a third, “intermediate”, commodity: the fruit is exchanged for the intermediate commodity when the fruit ripens. If this intermediate commodity doesn’t perish and is reliably in demand throughout the year (e.g. copper, gold, or wine) then it can be exchanged for wheat after the harvest. The function of the intermediate commodity as a store-of-value can be standardized into a widespread commodity money, reducing the coincidence of wants problem. By overcoming the limitations of simple barter, a commodity money makes the market in all other commodities more liquid.”
“In his book Debt: The First 5000 Years, anthropologist David Graeber argues against the suggestion that money was invented to replace barter. The problem with this version of history, he suggests, is the lack of any supporting evidence. His research indicates that “gift economies” were common, at least at the beginnings of the first agrarian societies, when humans used elaborate credit systems. Graeber proposes that money as a unit of account was invented the moment when the unquantifiable obligation “I owe you one” transformed into the quantifiable notion of “I owe you one unit of something”. In this view, money emerged first as credit and only later acquired the functions of a medium of exchange and a store of value.”
“Many cultures around the world eventually developed the use of commodity money. Ancient China, Africa, and India used cowry shells. Trade in Japan’s feudal system was based on the koku – a unit of rice. The shekel was an ancient unit of weight and currency. The first usage of the term came from Mesopotamia circa 3000 BC and referred to a specific weight of barley, which related other values in a metric such as silver, bronze, copper etc. A barley/shekel was originally both a unit of currency and a unit of weight.
Wherever trade is common, barter systems usually lead quite rapidly to several key goods being imbued with monetary properties. In the early British colony of New South Wales, rum emerged quite soon after settlement as the most monetary of goods. When a nation is without a currency it commonly adopts a foreign currency. In prisons where conventional money is prohibited, it is quite common for cigarettes to take on a monetary quality. Contrary to popular belief, precious metals have rarely been used outside of large societies. Gold, in particular, is sufficiently scarce that it has only been used as a currency for a few relatively brief periods in history.”
“In a gift economy, valuable goods and services are regularly given without any explicit agreement for immediate or future rewards (i.e. there is no formal quid pro quo). Ideally, simultaneous or recurring giving serves to circulate and redistribute valuables within the community.
There are various social theories concerning gift economies. Some consider the gifts to be a form of reciprocal altruism. Another interpretation is that implicit “I owe you” debt and social status are awarded in return for the “gifts”. Consider for example, the sharing of food in some hunter-gatherer societies, where food-sharing is a safeguard against the failure of any individual’s daily foraging. This custom may reflect altruism, it may be a form of informal insurance, or may bring with it social status.”
I think combining Graeber with the “I owe you” in gift economies, and we can see how money emerges from an informal gift economy anyways, as a medium of exchange and store of value, assuming he’s right that is how money indeed came about. Also, barter historically precedes money, and I think we can see how inefficient and impoverishing it is compared to money as a medium of exchange.
“Anatolian obsidian as a raw material for stone-age tools was distributed as early as 15,000 BCE, with organized trade occurring in the 9th millennium. (Cauvin;Chataigner 1998) In Sardinia, one of the four main sites for sourcing the material deposits of obsidian within the Mediterranean, trade in this was replaced in the 3rd millennium by trade in copper and silver.
As early as 9000 BCE both grain and cattle were used as money or as barter (Davies) (the first grain remains found, considered to be evidence of pre-agricultural practice date to 17,000 BCE).
In the earliest instances of trade with money, the things with the greatest utility and reliability in terms of re-use and re-trading of these things (their marketability), determined the nature of the object or thing chosen to exchange. So as in agricultural societies, things needed for efficient and comfortable employment of energies for the production of cereals and the like were the most easy to transfer to monetary significance for direct exchange. As more of the basic conditions of the human existence were met to the satisfaction of human needs, so the division of labour increased to create new activities for the use of time to solve more advanced concerns. As people’s needs became more refined, indirect exchange became more likely as the physical separation of skilled labourers (suppliers) from their prospective clients (demand) required the use of a medium common to all communities, to facilitate a wider market.”
The cult of money within the state:
“The worship of Moneta is recorded by Livy with the temple built in the time of Rome 413 (123); a temple consecrated to the same god was built in the earlier part of the fourth century (perhaps the same temple). The temple contained the mint of Rome for a period of four centuries.”
An early state, and early central banking scheme of interest fixing:
“The Code of Hammurabi, the best preserved ancient law code, was created ca. 1760 BCE (middle chronology) in ancient Babylon. It was enacted by the sixth Babylonian king, Hammurabi. Earlier collections of laws include the code of Ur-Nammu, king of Ur (ca. 2050 BCE), the Code of Eshnunna (ca. 1930 BCE) and the code of Lipit-Ishtar of Isin (ca. 1870 BCE). These law codes formalized the role of money in civil society. They set amounts of interest on debt… fines for ‘wrongdoing’… and compensation in money for various infractions of formalized law.”
An early state with private money, not state control of it, per se:
“The Mesopotamian civilization developed a large scale economy based on commodity money. The Babylonians and their neighboring city states later developed the earliest system of economics as we think of it today, in terms of rules on debt, legal contracts and law codes relating to business practices and private property. Money was not only an emergence, it was a necessity.”
The first bank vaults/safety deposit boxes:
“The earliest means of storage are thought to be money-boxes (????????) made similar to the construction of a bee-hive, as of the Mycenae tombs of 1550–1500 BCE.”
Bills of exchange; paper money without state control necessarily:
“Bills of exchange became prevalent with the expansion of European trade toward the end of the Middle Ages. A flourishing Italian wholesale trade in cloth, woolen clothing, wine, tin and other commodities was heavily dependent on credit for its rapid expansion. Goods were supplied to a buyer against a bill of exchange, which constituted the buyer’s promise to make payment at some specified future date. Provided that the buyer was reputable or the bill was endorsed by a credible guarantor, the seller could then present the bill to a merchant banker and redeem it in money at a discounted value before it actually became due. The main purpose of these bills nevertheless was, that traveling with cash was particularly dangerous at the time. A deposit could be made with a banker in one town, in turn a bill of exchange was handed out, that could be redeemed in another town.
These bills could also be used as a form of payment by the seller to make additional purchases from his own suppliers. Thus, the bills – an early form of credit – became both a medium of exchange and a medium for storage of value. Like the loans made by the Egyptian grain banks, this trade credit became a significant source for the creation of new money. In England, bills of exchange became an important form of credit and money during last quarter of the 18th century and the first quarter of the 19th century before banknotes, checks and cash credit lines were widely available.”
State control of paper money (turning it into currency) didn’t occur until money existed for 4 centuries:
“Paper money was introduced in Song Dynasty China during the 11th century. The development of the banknote began in the seventh century, with local issues of paper currency. Its roots were in merchant receipts of deposit during the Tang Dynasty (618–907), as merchants and wholesalers desired to avoid the heavy bulk of copper coinage in large commercial transactions.”
The “currency” which is not a currency (misnamed), and is actually non-commodity money, and the “coin” which is not a coin, and is actually less a coin than a ledger-based money: money returned to a lack of state control:
“The latest development in money uses cryptology to ensure trust & fungibility in a theoretically tamper-proof decentralized ledger called a blockchain. The first successful cryptocurrency is Bitcoin, and since its inception hundreds of other crypto-backed coins have been introduced. The system is more akin to tally sticks and other types of ledger-based money than to coinage, despite the name.”
Currency is always government-defined, unlike money, per se:
“A currency (from Middle English: curraunt, “in circulation”, from Latin: currens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency. These various currencies are recognized stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.”
“The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government’s physical metal reserves). Some currencies are legal tender in certain political jurisdictions, which means they cannot be refused as payment for debt.”
“Currency use is based on the concept of lex monetae; that a sovereign state decides which currency it shall use.”
“In most cases, a central bank has a monopoly right to issue of coins and banknotes (fiat money) for its own area of circulation (a country or group of countries); it regulates the production of currency by banks (credit) through monetary policy.”
Interest rate fixing versus free(d) market interest rates:
“An exchange rate is the price at which two currencies can be exchanged against each other. This is used for trade between the two currency zones. Exchange rates can be classified as either floating or fixed. In the former, day-to-day movements in exchange rates are determined by the market; in the latter, governments intervene in the market to buy or sell their currency to balance supply and demand at a fixed exchange rate.”
Alternative “currencies” (recall, these are actually money, not a currency):
“Distinct from centrally controlled government-issued currencies, private decentralized trust networks support alternative currencies such as Bitcoin, Litecoin, Peercoin or Dogecoin.”
Characteristics of Money:
“Money selected in the free market. i.e. money that comes into use by the voluntary cooperation of acting persons, is also called natural money.”
“The four primary characteristics of money are: (1) durability, (2) divisibility, (3) transportability, and (4) noncounterfeitability.”
“…scarcity, durability, divisibility…homogeneity through space and time, malleability, and [aesthetic value].”
Additional characteristics of interest in cryptographic money:
“Most cryptocurrencies are designed to gradually decrease production of currency, placing an ultimate cap on the total amount of currency that will ever be in circulation, mimicking precious metals. Compared with ordinary currencies held by financial institutions or kept as cash on hand, cryptocurrencies are less susceptible to seizure by law enforcement.. Existing cryptocurrencies are all pseudo-anonymous, though additions such as Zerocoin and its distributed laundry feature have been suggested, which would allow for true anonymity.”
“In April 2011, Namecoin was created as an attempt at forming a decentralized DNS, which would make internet censorship very difficult.”
“Central bank representatives have stated that the adoption of cryptocurrencies such as bitcoin pose a significant challenge to central banks’ ability to influence the price of credit for the whole economy. They have also stated that as trade using cryptocurrencies become more popular, there is bound to be a loss of consumer confidence in fiat currencies. Gareth Murphy, a senior central banking officer has stated “widespread use [of cryptocurrency] would also make it more difficult for statistical agencies to gather data on economic activity, which are used by governments to steer the economy”. He cautioned that virtual currencies pose a new challenge to central banks’ control over the important functions of monetary and exchange rate policy.”
“On March 25, 2014, the United States Internal Revenue Service (IRS) ruled that bitcoin will be treated as property for tax purposes as opposed to currency.”
“As the popularity of and demand for online currencies increases since the inception of bitcoin in 2009, so do concerns that such an unregulated person to person global economy that cryptocurrencies offer may become a threat to society.”
I think that should say “threat to the state”, because that’s what they mean, and society and state are not the same thing, and in fact are usually opposed concepts (the state uses antisocial means to exist). Even if cyber criminals use it to defraud, steal, etc., current cash fiat paper currency is used right now to facilitate that kind of anonymity. Nothing about a non-state money encourages antisocial behavior, it in fact lowers antisocial behavior in society since the state is the largest perpetrator of it, and contemporary state currency is already the conduit of crime (along with non-crime). The fact is, no money causes antisocial acts…people simply choose to use it that way, or not. Currency, being state controlled and issued, isn’t able to exist without antisocial acts or threats (formation of a banking cartel, legal tender laws, fixing interest rates – all enforced through violence or threats thereof from the state against non-coercive competition).
“Cryptocurrency networks display a marked lack of regulation that attracts many users who seek decentralized exchange and use of currency, howeverthese very same lack of regulations have been critiqued as potentially enabling criminals who seek to evade taxes and launder money.”
We can only hope, if their crime creates no victims and for tax evasion and privacy purposes for every person on the planet. Three cheers for cryptographic money!
“Transactions that occur through the use and exchange of these altcoins are independent from formal banking systems, and therefore can make tax evasion simpler for individuals. Since charting taxable income is based upon what a recipient reports to the revenue service, it becomes extremely difficult to account for transactions made using existing cryptocurrencies, a mode of exchange that is complex (and in some cases impossible) to track.”
“Systems of anonymity that most cryptocurrencies offer can also serve as a simpler means to launder money. Rather than laundering money through an intricate net of financial actors and offshore bank accounts, laundering money through altcoins stands outside institutions and can be achieved through anonymous transactions.”
Facilitation of Agorism:
“Cryptocurrency is also used in controversial settings in the form of online black markets, such as Silk Road. The original Silk Road was shut down in October 2013 and there have been two more versions in use since then; the current version being Silk Road 3.0. The successful format of Silk Road has been widely used in online dark markets, which has led to a subsequent decentralization of the online dark market. In the year following the initial shutdown of Silk Road, the number of prominent dark markets increased from four to twelve, while the amount of drug listings increased from 18,000 to 32,000.”
Making switching more difficult and less likely:
“Since most darknet markets run through Tor, they can be found with relative ease on public domains. This means that their addresses can be found, as well as customer reviews and open forums pertaining to the drugs being sold on the market, all without incriminating any form of user. This kind of anonymity enables users on both sides of dark markets to escape the reaches of law enforcement. The result is that law enforcement adheres to a campaign of singling out individual markets and drug dealers to cut down supply. However, dealers and suppliers are able to stay one step ahead of law enforcement, who cannot keep up with the rapidly expanding and anonymous marketplaces of dark markets.”
The purpose of crypto money:
“Cryptocurrencies are used primarily outside existing banking and governmental institutions and exchanged over the Internet. While these alternative decentralized modes of exchange are in the early stages of development, they have the unique potential to challenge existing systems of currency and payments.”
Competition among crypto money versus monopolized state currency:
“Today, there are over 700 digital currencies in existence.”
What the state and banks fear about crypto money:
“While cryptocurrencies are digital currencies that are managed through advanced encryption techniques, many governments have taken a cautious approach toward them, fearing their lack of central control and the effects they could have on financial security.”
As in, the Ruling class’ security. Cryptography is so secure, the state can’t crack it. The same cannot be said for state computer systems, even the FBI and so forth, and cannot be said for banking computer systems. Being your own bank is extremely secure, provided it’s crypto money and you take the proper precautions with storage of your crypto money. No one is locking my account, seizing it, doing a bail-in for a failing government banking system, etc. I can’t have a frozen account, and the authorities cannot seize what I have. Heck, they can’t even prove I have anything at all…and that, my friends, is liberating.——————–
https://en.wikipedia.org/wiki/Cryptocurrency – Provided By Tony Palmentera
Money and currency – https://youtu.be/DyV0OfU3-FU
Joseph Stalin – https://en.wikipedia.org/wiki/Joseph_Stalin#Collectivization
Communism – https://youtu.be/3pzMHD0F4yQ
Collectivism – http://www.historydoctor.net/Advanced%20Placement%20European%20History/Notes/soviet_union_under_stalin.htm
Materialism – https://en.wikipedia.org/wiki/Materialism
Non – Monetary Civilization – http://www.whatonearthishappening.com/images/stories/woeih/podcast/098/Non-Monetary-Civilization.pdf