|1 Thessalonians 4: 11-12|
A similar system existed in Rome when people had to pay their taxes in Roman coinage, stamped in gold, for example, instead of rough pieces of gold.
Some view this as wrong, or evil, while others view it as typical or simply the way things are...the rich or powerful ruling over the less rich or less powerful.
An idea can be like a seed that becomes a strong tree, towering over all previous ideas.
For the sake of understanding, instead of labeling the current money system as wrong or right, evil or good, I'd like to simply identify it for what it does and is while introducing an idea.
Read what a monopoly means.
I call it a monopoly because the entity is the sole issuer of money which chooses to charge interest and how much...and this entity answers to no one in these matters.
I do perceive the charging of interest as evil, plainly and simply.
This practice only enriches the few while taxing the many...being akin to the definition of tribute despite any modern justification echoed by economists.
It is evil because it adds to the weighted effort of existence, contributing nothing but to the acknowledgement of one man's power and position over another man.
I think if people are subject to such a system with their labor being valued as a commodity, one usually has to play according to the rules set by such an entity...unless they figure out another way.
New ideas, or an alteration of a previous idea, may bring forth a change.
What if the common man, since he has to deal with the charging of interest for the money he must utilize in order to pay a mortgage, rent, food and taxes, can also benefit like the issuing institution and its banking affiliates?
Aside from issuing one's own money / currency (an idea I've written about in the past), what can be altered within the current money model?
Two antonyms (opposite meaning) of 'monopoly' are “joint ownership” and “sharing”.
Does it sound reasonable for an individual, such as yourself, to be able to share the responsibility of money management and enjoy the benefit of joint ownership of the money supply that you currently support with your efforts?
What if everyone were issued a certain amount of credit at birth?
What if this amount can never be lost, but only accounted from a credit to a debt and back again?
The Basic Income is a similar idea.
What if you / we / human beings were actually the new currency?
This isn't a 'new' or novel idea, but an ancient idea being once again mentioned.
Some argue that today's fiat currency is supported by human beings, since this 'money' is not attached to a tangible commodity like gold coins of the past (the money being made of gold, thus having a value found in the gold and the coin), for example.
This makes one wonder if the people are the actual commodity the fiat money is attached to.
If this is so, then why not also have all human beings starting with an equitable economic value in terms of this material world?
I warrant the phrase 'material world' because human beings – all having a divine design while some having divine origins – are in my view beyond material valuation (priceless in another word).
What if each person born into the world starts off with a certain amount (a “fund”); let's say about $1 million (or an adequate amount that, if invested in a lifelong government bond or similar, would pay off a supporting income to a disabled person)?
This idea wouldn't make everyone a millionaire instantly just for the sake of enrichment, but would provide a coffer to draw / invest from over the course of their lives, according to their knowledge and ability, to grow this amount in support of themselves and their activities.
During an individuals formative years, the parents / guardians of that child may sign the fund into growth investments on behalf of the child, with the parents being restricted from utilizing the proceeds or principal for themselves.
When the child reaches maturity, they are now the signatories for their fund, and the fund can be withdrawn from or grown further.
The fund is issued as a credit and can be used, a portion at a time or more, according to the individual's abilities or immediate need.
In case of misfortune, the fund can be utilized as support in a time of need.
When an investment opportunity arises, the fund can be utilized to invest in that opportunity (venture capital, loan, etc.).
This fund would be a different model than the typical credit / debt money in circulation today.
The monies can never be lost but simply moved from the credit side to the debt side of the financial statement, for a time, until they are returned to their owner.
Since the money in the fund is actually owned by the individual and not by another entity (the Federal Reserve), the individual has ultimate management control over their monies, whether they are accounted as a credit or a debt on the ledger.
In other words; if an investment does not work out, the individual being the core creditor will eventually be made whole again after the debt is retired.
In an honest economy built on trust between individuals (the goal of any just society), the promise to pay will be realized until the last penny of a debt is paid back.
In the world of investing, money is never 'lost', but simply exchanges hands (usually from the loser to the winner).
With this idea, all people will win (or be eventually made whole) regardless of how an investment goes.
With this idea, the accounting of these monies are traced throughout their economic journey and will always find their way back to the originator, or the individual's fund from which they are derived.
With this idea, individuals can choose to lend their monies directly to others for the purchase of a home or something else...and at their discretion they can choose NOT to charge interest in a loan.
The wisest people will most likely invest their monies into income-producing assets; on the low end something like government guaranteed bonds, or something riskier yet more lucrative like like real property or business(es)... building forward from these.
One caveat would be that the fund can never be withdrawn for simple consumption, but can only be directed into something that pays a dividend or a return.
In other words: only income producing assets or items of retained or growing value.
Perhaps this idea is the wish that social security of last century had, but now being directed by both individuals and professionals in their respective fields.
The amount per person would be in addition to the value / money already accounted for in the real world; property values, merchandise, etc..
This money would be valued on par (1=1) with the current currency.
The only difference would be that this particular money is again actually owned, whether as a debt or credit, by its corresponding living being.
Once that individual passes into eternity, only their accumulated wealth (or tangible assets) would pass to whomever they have appointed as heirs.
The fund, however, would not transfer onto children, for the children already have their own fund to their name.
As food for thought, take a look at this annuity calculator.
Fill in 1,000,000 in the field “Starting Principal”.
Fill in 0 in the field “Annual Addition”.
Fill in 0 in the field “Monthly Addition”.
Fill in 1 in the field “Annual Interest Rate”.
Fill in 18 in the field “After”.
Click “Calculate” to find what a $1 million dollars pays at 1% interest over 18 years.
By reinvesting the yearly proceeds ($10,000 the first year and compounded thereafter), when a child turns 18, they would have an additional $196,147.48 to the original principal of $1,000,000.
The 1% is the interest rate the Federal Reserve decided to charge recently.
The rate can automatically adjust in the people's fund to compensate for inflation or unjust enrichment on the part of those who manage the heights of finance.
If the people are charged interest, why not grant the people an equitable mechanism to benefit from the charging of interest?
Imagine investing not for the charging of interest (for money lent), but investing in a business venture for a service / product people actually desire with returns much higher than 1%.
Imagine taking control of your finances, your fund and your future.