200 Ideas For A Turtle; Trading Fictions For Facts

For this saddened pet owner, their pet turtle is worth $200...for others, maybe more, maybe nothing.

Yet Another Rabbit Hole Journey: Is Money Debt Or Credit Or Both?

First off, let's ask: 'how much money exists in the world?'

We would have to ask 'what is money?' and also 'which definition of money?' are we to use?

Read this short article for some ideas to those answers.

From that article, one stat states there's ~$26 trillion (T) in coin, paper and checking accounts.

This stat is labeled 'narrow money', meaning that it is immediately accessible or in-hand.

$26T in actual 'numbers' looks like $26,000,000,000,000.

All the world's stock markets hold ~$70T.

All debt in the world is measures ~$199T.

Lastly, all the amount of 'money' in derivatives is, on the low end ~$630T, on the high end ~$1.2Q.

What's that 'Q' you may wonder...

Quadrillion, the next word after trillion after billion after million after thousand after hundred.

$1.2Q in actual 'numbers' looks like $1,200,000,000,000,000.

I hope you didn't get a headache counting the commas or zeros, but yes - that is a ridiculously big number.

If I may; that large number is actually 'made' up and a hypothetical 'value' based on man's ideas.

Let me explain...

Some argue it is as real as you and me, but is it really 'real' or even close to being 'as real as you and me'?

The world has been full of mankind's ideas since people began speaking their thoughts to one another.

If history is any measure of man's limited wisdom and abundant stupidity, then we know that when people were previously thought to 'know' something, were later proven dead wrong.

Dead wrong.

Being that wrong is pretty bad...I'd rather just be 'wrong' than dead wrong ;)

100 years ago did such an astronomical amount of 'money' exist?

No.

Where, then, did it all come from?

Man's mind.

Now would be an appropriate time to quote money theorist Alfred Mitchell-Innes:

Innes goes on to note that a major problem in getting the public to understand the extent to which monetary systems are debt based is the challenge in persuading them that “things are not the way they seem”. 

- Credit Theory of Money article.

Are those billions, trillions or quadrillions of dollars in circulation in the form of debt or credit?

Depends on which side of the game, bet and table you're on...and depends on how you see and define it.

If you and myself were the first to ever come up with the idea of money, and we were to issue (put into circulation) our money with our faces on it and our terms, would we cease 'owning' that piece of paper money simply because we lent it out to someone?

No.

The point of lending is to receive back what was lent.

This is why I point out that the 'money' in your possession, in whichever manner you attained it, is actually not 'owned' by you...but someone else.

So for you and myself (the bank[st]ers), any money we lend out would be a credit on our accounting ledger.

For the borrower, it would be a debt.

To use abstract ideas of positive and negative when looking at the idea of money, the lender is in a positive position, while the borrower is in a negative position.

This goes without much logical explanation, for if any of us ever borrowed or lent money, we know which position is the lesser, weaker, subjected, negative position...and which is the greater, stronger, masterful and positive position.

Money, value and other related economic ideas are relative.

One person may 'value' themselves, their time and their work much higher than the next person.

A pair of shoes may be valued much less by someone than what others value the shoes...or any other 'thing'.

The 'abundance' some people perceive in the world is NOT according to the amount of debt men have issued into circulation.

No.

This is measuring by the ideas of men, and again, value is relative.

Where the relativity stops is when people make laws that compel everyone to follow; as in the case of valuing 'money' at one value set, or the cost of money's lending (interest rate).

The actual wealth and 'value' in the world is, in my opinion, the value of mankind and what man can do with his hands (and mind), and secondly creation all around us.

Those wild numbers at that article and shared herein, I think, try to set a value to mankind and nature and what can be derived, in the future, from both mankind and nature.

I think the number is too small.

It is up to man how to best manage the gift of their existence and the gift of nature.

If we go shopping at a store to buy a gift for a dear friend, we can see the 'price' or what 'value' the seller places on any particular item.

We 'buy' the item and 'gift' it our dear friend.

But our friend may not like much (or value much) the gift, or it may be priceless to them.

I was recalling yesterday to a dear friend how a teacher of mine once suggested a book for me to read and write a report on.

Only a decade later I realized the valuable gift that teacher's suggestion has been to me.

What is the proper valuation of an education, or accurate knowledge, or wisdom in deciphering accurate knowledge that brings understanding?

Listen to your father, who gave you life, 

   and do not despise your mother when she is old. 

Buy the truth and do not sell it— 

   wisdom, instruction and insight as well. 

The father of a righteous child has great joy; 

   a man who fathers a wise son rejoices in him. 

May your father and mother rejoice; 

   may she who gave you birth be joyful! 

- Proverbs 23: 22-25

How can a teacher's instruction, or a mother's love, or the sacrifice one person does for another, be properly measured?

As you can see, even the mention of teachers and mothers beckons your mind to realize that these two vocations can be vastly undervalued in certain societies.

Some societies, usually the very societies that have their eyes on many zeros behind dollar signs, highly value certain people and things while devalue certain things and certain people.

What of the wisdom that explains the riddle, clarifies the confusing and speaks from eternity?

What does wisdom have to say about what men value over wisdom's infinite value?

My mouth speaks what is true, 

   for my lips detest wickedness. 

All the words of my mouth are just; 

   none of them is crooked or perverse. 

To the discerning all of them are right; 

   they are upright to those who have found knowledge. 

Choose my instruction instead of silver, 

   knowledge rather than choice gold, 

     for wisdom is more precious than rubies, 

   and nothing you desire can compare with her. 

- Proverbs 8: 7-11

People and nature are two things that cannot be accurately measured in financial terms.

If we would attempt, I suppose we'd have to come up with a few more zeros to place behind the quadrillions.

Yet people do attempt to value people and nature and the ideas and things derived, to much confusion and consternation of those of us who would rather not have to worry about such things.

Consider a certain honorable king long ago who was chastised for taking a census like his contemporaries had done before and have continued to do after him.

He was chastised because, I think, counting his men was a sign of faithlessness.

He focused on 'numbers' in order to derive an idea of his (man's) strength, rather than the reality of what God had already proven to him, provided him and had already established through him; fulfilling His promises to this favored king.

Such promises continue to be fulfilled, despite people's inability to understand, and focusing on the numbers and the ideas of men in this world.

If all 'money' were to disappear tomorrow (or debts be called in without new loans being issued, or some other chicanery as times past have revealed), few people may be able to realize they are now free to deal with actual value and not perceived value.

The confusion arguably would cease.

The carrot before the donkey would disappear...or better stated; the stick holding the carrot ahead of the donkey would disappear, and that donkey would finally take a bite and enjoy that carrot.

Perhaps a single egg will trade for two oranges without anything of intrinsic (something not of actual value, but perceived value) being traded in their place.

Would people be able to, in their minds and hearts, trade things of real value?

I suspect the value of life would come more into focus.

I believe some of us already understand this fully despite the temporary challenges of navigating the world that worships golden calfs (still) and other less than honest ideas.