Currency Collection Quotes

Energy is the currency of the universe. When you “pay” attention to something, you buy that experience. So when you allow your consciousness to focus on someone or something that annoys you, you feed it your energy, and it reciprocates with the experience of being annoyed. Be selective in your focus because your attention feeds the energy of it and keeps it alive, not just within you, but in the collective consciousness as well.

The human currency of praise is Monopoly money. It feels great for a moment to collect, but when the game is over, it's worthless.

On No Work of Words On no work of words now for three lean months in the bloody Belly of the rich year and the big purse of my body I bitterly take to task my poverty and craft: To take to give is all, return what is hungrily given Puffing the pounds of manna up through the dew to heaven, The lovely gift of the gab bangs back on a blind shaft. To lift to leave from the treasures of man is pleasing death That will rake at last all currencies of the marked breath And count the taken, forsaken mysteries in a bad dark. To surrender now is to pay the expensive ogre twice. Ancient woods of my blood, dash down to the nut of the seas If I take to burn or return this world which is each man's work.

People who will not turn a shovel full of dirt on the project nor contribute a pound of material, will collect more money from the United States than will the People who supply all the material and do all the work. This is the terrible thing about interest ...But here is the point: If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Constitution pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People. If the currency issued by the People were no good, then the bonds would be no good, either. It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges at the hands of men who control the fictitious value of gold.

The first way to address the “war on poverty” is to get rid of currency inflation and return to a form of money whose value holds over the long term.

I've learned that there is no currency like trust and no catalyst like hope. There is nothing worse for building relationships than pandering, on one hand, and preaching, on the other. And the most important quality we must all strengthen in ourselves is that of a deep human empathy, for that will provide the most hope of all--and the foundation for our collective survival.

If I had not immersed myself in books, in stories and legends, in newspapers, in reports, if everything communicable had not grown up in me, I should have been a nonentity, a collection of uncomprehended events. (And that might have been a good thing, then I should have thought of something new.) That I can see, that I can hear, are things I do not deserve; but my feelings, those I truly deserve, these herons over white beaches, these wanderers by night, the hungry vagabonds that take my heart as their highroad. I wish I could call out to all those who believe in their unique brains and the hard currency of their thoughts: be of good faith! But these coins which you clink together have been withdrawn from circulation, only you don't know it yet....Admit that when you really pay, with your lives, you do so only beyond the barrier, when you have said farewell to everything that is so dear to you--to landing-places, flying-bases, and only from there do you embark on your own path and your journey from imagined stop to imagined stop, travellers who must not be concerned with arriving.

The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted notto debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.

There are three ways in which a government can fund deficit spending: currency inflation (printing new currency), borrowing from the public, and taxation. Governments tend to favor currency by fiat (i.e., creating new currency), which allows it to blame the inevitable price increases on speculators rather than on its true culprit, currency inflation.

Try the following experiment. Go to the airport and ask travelers en route to some remote destination how much they would pay for an insurance policy paying, say, a million tugrits (the currency of Mongolia) if they died during the trip (for any reason).Then ask another collection of travelers how much they would pay for insurance that pays the same in the event of death from a terrorist act (and only a terrorist act). Guess which one would command a higher price? Odds are that people would rather pay for the second policy (although the former includes death from terrorism). The psychologists Daniel Kahneman and Amos Tversky figured this out several decades ago.

The philanthropic spirit is a rich soil where seeds of generosity, when sown collectively, sprout into forests of positive change.

US law requires financial institutions to report cash transactions of $10,000 or larger to the government; for currency exchangers, the threshold is $1,000.

A country running deficits under the gold exchange standard could find itself like a tenant whose landlord does not collect rent payments for a year and then suddenly demands immediate payment of twelve months’ back rent. Some tenants would have saved for the inevitable rainy day, but many others would not be able to resist the easy credit and would find themselves short of funds and facing eviction.

Imagine if the population were to discover, through real life experience, what it is to conduct their lives with a currency that does not lose its value, but in reality gains in value. As our economy grows and as our manufacturing capabilities increase, prices go down. The only reason that prices are not going down today—except in products where improvements are very rapid (e.g., computers)—is because of government-caused currency inflation.

Identity capital is our collection of personal assets. It is the repertoire of individual resources that we assemble over time. These are the investments we make in ourselves, the things we do well enough, or long enough, that they become a part of who we are. Some identity capital goes on a résumé, such as degrees, jobs, test scores, and clubs. Other identity capital is more personal, such as how we speak, where we are from, how we solve problems, how we look. Identity capital is how we build ourselves—bit by bit, over time. Most important, identity capital is what we bring to the adult marketplace. It is the currency we use to metaphorically purchase jobs and relationships and other things we want.

One typical argument raised against Bitcoin concerns the limit on the maximum number of bitcoins that will ever be created, which Satoshi Nakamoto set at 21 million. Once reached, what could prevent someone from increasing this limit? Nothing really, but he would need the cooperation of the majority of miners for this change to be accepted. Even were the majority of miners to agree to lift this restriction, if all did not agree, then a split in the block chain would result. Those in favor of lifting the restriction would use one version of the block chain while those not in favor would use a different version. In effect, we would have two virtual currencies rather than one, the “original Bitcoin” and a “Quantitative Easing Bitcoin”. Over the long term, one would hold its value longer and better and would therefore become the preferred version while the other would drop in value. What would be your guess as to which one would hold its value longer and retain the interest of users of Bitcoin?

you know how I feel about the United Nations. From the beginning, it’s functioned as a one-world-order organization whose sole function is to look down its collective nose at the one nation that funds it, the United States. The UN has advocated the transfer of wealth out of the United States, the elimination of international borders, the establishment of a single global currency, international gun control, and the elimination of American jobs. It’s become a friendly forum for radical and scientifically absurd ideas like global warming and has advocated cockamamie international tax schemes like cap-and-trade. It has done everything it can to end the sovereignty of the United States.

The United States has not consciously chosen a grand strategy over the last several decades; rather it has made a series of policy decisions that have largely resulted from political motivations while being sold as part of a coherent plan after the fact, or more precisely, as a collection of coherent plans that are advocated for or forgotten about depending on the needs of the moment. Thus, those who want to change American foreign policy should not expect to succeed primarily by making arguments as to why the United States is implementing the wrong grand strategy. Rather, one would have to work to change the incentive structures that lead some ideas to gain currency, and government officials to make certain decisions but not others.

What Mr. Rothschild had discovered was the basic principle of power, influence, and control over people as applied to economics. That principle is "when you assume the appearance of power, people soon give it to you." Mr. Rothschild had discovered that currency or deposit loan accounts had the required appearance of power that could be used to INDUCE PEOPLE [WC emphasis] (inductance, with people corresponding to a magnetic field) into surrendering their real wealth in exchange for a promise of greater wealth (instead of real compensation). They would put up real collateral in exchange for a loan of promissory notes. Mr. Rothschild found that he could issue more notes than he had backing for, so long as he had someone's stock of gold as a persuader to show to his customers. Mr. Rothschild loaned his promissory notes to individuals and to governments. These would create overconfidence. Then he would make money scarce, tighten control of the system, and collect the collateral through the obligation of contracts. The cycle was then repeated. These pressures could be used to ignite a war. Then he would control the availability of currency to determine who would win the war. That government which agreed to give him control of its economic system got his support.

Mithradates’ own handsome coins featured his idealized portrait—looking very much like his hero Alexander, with parted lips and luxuriant hair. Imagery evoking Mithradates’ Persian connections appeared on the reverse, such as winged Pegasus and the star and crescent. Other coins displayed Dionysus the Liberator (associating him with opposition to Rome by slaves and rebels in Italy). Mithradates made sure his portrait was known to everyone. He employed the best Greek artisans, and he understood the propaganda value of aesthetically pleasing currency. His coinage conveyed the message that Mithradates was the great unifier—and protector—of Greek and Persian civilizations. Knowing that his unsurpassed coins would be admired, collected, and selected for hoards of buried treasure, Mithradates also designed them for posterity. Indeed, Mithradates’ portrait coins are considered by numismatic experts to be the most beautiful of all ancient coins.

21 million BTC might seem insufficient with a global population of 7 billion people, the bitcoin currency is highly divisible. The smallest denomination allowed by the current software is 0.00000001 BTC (10-8 BTC), which has been defined as 1 satoshi and was named after the software’s putative creator, Satoshi Nakamoto. There are therefore 100 million satoshis in a single bitcoin, and thus the maximum supply of 21 million BTC will be equal to 2.1 quadrillion satoshis or, if you prefer, 2,100 trillion satoshis.

The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted notto debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.

Solomon resumes talking to the envoys of Sheba: "Go back and tell her what you have seen, how the rare substance she thinks we value can be scraped up anywhere as soil. Tell her the elaborate throne she loves looks more like a bandage over a hurt place. We admire Ibrahim, who left his kingdom so quickly. With us, one genuine kneeling down in total humility would buy hundreds of governments. Our currency is an eagerness to accept the gift of soul change. Nothing else. Sheba's sumptuous life is just a hole in the ground with children playing in it, pretending to be kings and prime ministers. We perform reverse alchemy, transmuting gold mines into abandoned sites!

While the Austrian crown was dissolving like jelly in your fingers, everyone wanted Swiss francs and American dollars, and large numbers of foreigners exploited the economic situation to feed on the twitching corpse of the old Austrian currency. Austria was ‘discovered’, and became disastrously popular with foreign visitors in a parody of the society season. All the hotels in Vienna were crammed full with these vultures; they would buy anything, from toothbrushes to country estates; they cleared out private collections of antiquities and the antique dealers’ shops before the owners realised how badly they had been robbed and cheated in their time of need. Hotel receptionists from Switzerland and Dutch shorthand typists stayed in the princely apartments of the Ringstrasse hotels. Incredible as it may seem, I can vouch for it that for a long time the famous, de luxe Hotel de l’Europe in Salzburg was entirely booked by unemployed members of the English proletariat, who could live here more cheaply than in their slums at home, thanks to the generous unemployment benefit they received. Anything that was not nailed down disappeared. Word gradually spread of the cheap living and low prices in Austria. Greedy visitors came from further and further afield, from Sweden, from France, and you heard more Italian, French, Turkish and Romanian than German spoken in the streets of the city centre of Vienna.

Identity capital is our collection of personal assets. It is the repertoire of individual resources that we assemble over time. These are the investments we make in ourselves, the things we do well enough, or long enough, that they become a part of who we are. Some identity capital goes on a resume, such as degrees, jobs, test scores, and clubs. Other identity capital is more personal, such as how we speak, where we are from, how we solve problems, how we look. Identity capital is how we build ourselves--bit by bit, over time. Most important, identity capital is what we bring to the adult marketplace. It is the currency we use to metaphorically purchase jobs and relationships and other things we want.

When corporate security squads were sent on punitive raids, they were told not to waste ammunition—one bullet, one kill. They were not supposed to use company ammunition hunting big game for sport. As proof of their frugality, they were expected to bring back one severed human hand for every bullet expended.4 One eyewitness described soldiers returning from a raid: On the bow of the canoe is a pole, and a bundle of something on it. These are the hands (right hands) of sixteen warriors they have slain. “Warriors?” Don’t you see among them the hands of little children and girls? I have seen them. I have seen where the trophy has been cut off, while the poor heart beat strongly enough to shoot the blood from the cut arteries at a distance of fully four feet.5 Severed hands became a kind of currency—proof that orders were being obeyed. A basket of smoked hands covered any shortfall in production, and if there was no rubber to be had, the Free State’s security forces, the Force Publique, would go out to collect a quota of hands instead. Natives quickly learned that willingly sacrificing a hand might save their life. And not just hands. After one commander grumbled that his men were shooting only women and children, his soldiers returned from the next raid with a basket of penises.

He tried to answer the question of why the Italians have produced the greatest artistic, political and scientific minds of the ages, but have still never become a major world power. Why are they the planet’s masters of verbal diplomacy, but still so inept at home government? Why are they so individually valiant, yet so collectively unsuccessful as an army? How can they be such shrewd merchants on the personal level, yet such inefficient capitalists as a nation? His answers to these questions are more complex than I can fairly encapsulate here, but have much to do with a sad Italian history of corruption by local leaders and exploitation by foreign dominators, all of which has generally led Italians to draw the seemingly accurate conclusion that nobody and nothing in this world can be trusted. Because the world is so corrupted, misspoken, unstable, exaggerated and unfair, one should trust only what one can experience with one’s own senses, and this makes the senses stronger in Italy than anywhere in Europe. This is why, Barzini says, Italians will tolerate hideously incompetent generals, presidents, tyrants, professors, bureaucrats, journalists and captains of industry, but will never tolerate incompetent “opera singers, conductors, ballerinas, courtesans, actors, film directors, cooks, tailors…” In a world of disorder and disaster and fraud, sometimes only beauty can be trusted. Only artistic excellence is incorruptible. Pleasure cannot be bargained down. And sometimes the meal is the only currency that is real.

I want to begin my fight for the future of our world with the sharing of a vision. Everyone has, or should have, a vision. This is mine. It is a simple vision, really. It begins with the creation of a single, sane, planetary civilization. That will have to be very much like a utopia. People will deny the possibility of such a dream. They will say that people have always been at each other's throats, that this is just human nature, the way of the world. That we can never change the world. But that is just silly. That is like saying that two battling brothers, children, will never grow up to be the best of friends who watch each other’s backs. Once, a long time ago, people lost their sons and daughters to the claws of big cats. In classic times, the Greeks and the Romans saw slavery as evil, but as a necessary evil that could never go away. Only seventy years ago, Germany and France came to death blows in the greatest war in history; now they share a common currency, open borders, and a stake in the future of Europe. The Scandinavians once terrorized the world as marauding Vikings gripping bloody axes and swords, while now their descendents refrain from spanking their children, and big blond–haired men turn their hands to the care of babies. We all have a sense of what this new civilization must look like: No war. No hunger. No want. No very wealthy using their money to manipulate laws and lawmakers so that they become ever more wealthy while they cast the poor into the gutters like garbage. The wasteland made green again. Oceans once more teeming with life. The human heart finally healed. A new story that we tell ourselves about ourselves and new songs that we sing to our children. The vast resources once mobilized for war and economic supremacy now poured into a true science of survival and technologies of the soul. I want this to be. But how can it be? How will we get from a world on the brink of destruction to this glorious, golden future? I do not know. It is not for any one person to know, for to create the earth anew we will need to call upon the collective genius and the good will of the entire human race. We will need all our knowledge of history, anthropology, religion, and science, and much else. We will need a deep, deep sympathy for human nature, in both its terrible and angelic aspects.

complaints from France that Washington was exploiting its reserve currency status in order to collect seigniorage from America’s foreign creditors by printing dollars, much as medieval monarchs had exploited their monopoly on minting to debase the currency.

Thus, there are times when a deep pragmatist should feel free to speak of rights—and not just legal rights but moral rights. These times, however, are rarer than we think. If we are truly interested in persuading our opponents with reason, then we should eschew the language of rights. This is, once again, because we have no non-question-begging (and non utilitarian) way of figuring out which rights really exist and which rights take precedence over others. But when it’s not worth arguing—either because the question has been settled or because our opponents can’t be reasoned with—then it’s time to stop arguing and rally the troops. It’s time to affirm our moral commitments, not with wonky estimates of probabilities but with words that stir our souls. But please do not take this as license to ignore everything else that I’ve said about “rights.” Most moral controversies are not simple cases of one tribe’s dominating another. In nearly all moral controversies, there are truly moral considerations on both sides.* There is something to be said for individualist systems that encourage people to take care of themselves. And there is something to be said for collective systems in which everyone gets the help they need. There is something to be said for not killing any human fetuses, and there is something to be said for letting people make their own tough bioethical choices. Here the solution is not for us to bludgeon one another with heartfelt assertions about rights, however tempting this may be. The solution is, once again, to put our automatic settings aside and shift into manual mode, seeking bargains brokered with the common currency.

Early twentieth-century English writers Hilaire Belloc and G. K. Chesterton—and, later, a young Marshall McLuhan—saw in distributism a definitive answer to the failures of both capitalism and state socialism.6, 7, 8 They looked to that same brief moment in the late Middle Ages we’ve been exploring, when the market was in ascendance and former peasants were making and trading things, as the best example of the ideal economic system. Wealth was relatively widely dispersed, and people had a great deal of control over their livelihoods. They had access to the commons, to a low-cost marketplace, and to their own currencies and credit systems. Craftspeople belonged to trade guilds that both bounded their investment of labor and allowed for the advancement of skills to successive generations. The former peasants of this period became so collectively wealthy that they used their surplus profits to build cathedrals and municipal projects as investments in the future. The centralization of power by the aristocracy and the great Renaissance that followed, according to all three popes, were less a pinnacle of human achievement than an undeserved celebration of dehumanizing technologies, economic injustice, colonial slavery, and an increasingly mechanized approach to life. In distributism, they saw a way to bring back what had been forcibly left behind by the industrial age and the rise of Protestant values that were, not coincidentally, much more directed toward personal achievement, individual wealth, and progress. But

Every civilization has had a form of currency, usually silver and gold, that is controlled by the rulers and kings of that society. The people in power remain in power by controlling the circulation of money. It is no different today than it was thousands of years ago.

The emerging cash economy of al-Andalus contrasted with the subsistence economies of Frankish Europe and Christian Iberia, where rural servility remained the norm, social mobility was low, and there was little by way of urban culture, infrastructure, or currency. Christian rulers collected revenue through the direct consumption of food surpluses, forcing them to continuously circulate through their lands with their households in tow. This itinerant lifestyle prevented them from accumulating easily transferrable wealth, and from developing secular institutions and bureaucracies.

Don’t boast in cafes388 that American currency is the only real honest-to-God money in the world. It isn’t. Besides such bursts of financial patriotism are annoying to people who did not spend the years 1914 to 1916 accumulating world credit by selling munitions, cotton and wheat to other nations which were busy with a war. . . . Don’t confide to your fellow passengers on railway trains that America is the most generous of creditors because America has cancelled all that part of debts, which nobody can collect. Talk instead of our prowess in tennis, golf or Prohibition. It comes with better grace.

He put them in a situation where they needed to earn his “currency” to stay out of trouble. Each time the kids did some work, they got a receipt (some business cards) for the task they had performed. At the end of the month, the kids returned the cards to their father. As Mosler explained, he didn’t actually need to collect his own cards back from the kids. “What would I want with my own tokens?” he asked. He had already gotten what he really wanted out of the deal—a tidy house! So why did he bother taxing the cards away from the kids? Why didn’t he let them hold on to them as souvenirs? The reason was simple: Mosler collected the cards so the kids would need to earn them again next month. He had invented a virtuous provisioning system! Virtuous in this case means that it keeps repeating.

As a physics major, before getting her hands dirty in New York, she had assumed that money is printed by a nation’s central bank, from where it is distributed to commercial banks. But while this is indeed how cash is created, cash accounts for only 3 per cent of all money. What of the remaining 97 per cent? Surprise and then foreboding were the reactions of every student to whom she had explained how the missing 97 per cent was created – and by whom: not by central banks but by commercial and investment bankers. At this point, her students would ask, ‘Without access to state-sanctioned printing presses, how do private bankers create money?’ ‘Simple,’ she would reply. ‘Every time a banker approves a loan of, say, one million dollars for Jack, a typical business customer, the banker just types 1,000,000 on Jack’s bank statement. However incredible it may seem, that’s all it takes. Bankers create money by granting loans by typing in some numbers!’ The crucial thing, she would explain, is that these numbers are typed into a shared database – or ledger – to which only the bankers have access. When their customers transfer this ‘money’ between them – when Jack transfers numbers from his account to the account of a supplier, say Jill, or of a builder, say Bob, or of a worker, say Kate, and when in turn, Jill, Bob and Kate transfer their numbers on, in the same way, to others to whom they owe money – these numbers simply migrate from one cell in the database to another. For this system to be sustainable, and not merely a pyramid scheme, there is a single condition: that, somewhere down the line, the one million dollars which some banker typed into existence on Jack’s behalf results in new goods and services whose total market value exceeds one million dollars. It is from this surplus that the banker takes his interest and Jack his profit. This is what Iris was referring to as a fool’s wager when she said that bankers plundered value from the future, or when Costa had once claimed that capitalism, like science fiction, trades in future assets using fictitious currency. It is in their nature that the wealthier bankers become by creating money, the more money they tend to create. The danger of such a system, of course, is that the banks end up typing into existence sums of money vastly larger than the market value of the goods and services created as a result of Jack, Jill, Bob and Kate’s endeavours. At the point when the bankers have collectively created money sums greater than the resulting values, the present can no longer repay the future for the money it borrowed from it. The moment Jack, Jill, Bob and Kate get a whiff of this, they may demand their bank balances in cash, sensing that the total value on the bankers’ database is lower than the actual value of their customers’ assets. ‘At that point, a bank run sets in,’ Eva would tell her students, ‘and that’s when the system comes crashing down.

Now we can see the real use of the Tarot pack. It is for living in and arranging our lives with. The cards are the exchange-symbols between inner and outer life…. Altogether the Tarots are a most valuable collection of psycho-physical currency convertible into either dimension. —Wm. B. Gray, Magical Ritual Methods

collective rise of multiple countries within pan-Asia that has destabilized Western hegemony.

As we’ll discuss in more detail in chapter 6, a platform’s ability to monetize the value of the exchanges it facilitates is directly related to the types of currency exchange it can capture and internalize. A platform that can internalize the flow of money may be well placed to charge a transaction cut—for example, the fee of 10 percent of the sale price typically charged by eBay after a successful auction. A platform that can capture only attention may monetize its business by collecting payments from a third party that considers the attention valuable—for example, an advertiser willing to pay Facebook for “eyeballs” attracted by posts related to a particular topic. The platform’s goal, then, is to bring together producers and consumers and enable them to engage in these three forms of exchange: of information, of goods or services, and of currency. The platform provides an infrastructure that participants plug in to, which provides tools and rules to make exchanges easy and mutually rewarding.

Kyung knows how desperate Gillian is to keep the money—he can see it on her face, the way it looks so old and lined with worry. She understands, just as he does, that pride won’t fill their refrigerator next week. Pride won’t get his license renewed or pay the water bill or keep the collection agencies at bay. It’s a useless form of currency they can’t afford to trade in anymore.

Mitterrand didn’t want to push Germany away; he wanted to grab Germany in a European bear hug. And he wanted to use money to do it. He wanted to create a new kind of money managed not by a single country, but shared by a collective of European nations. It was a radical idea, but Mitterrand thought it was Europe’s only hope to avoid being economically dominated by Germany. “Without a common currency,” Mitterrand told Thatcher, “we are all of us—you and we—already subordinate to the Germans’ will.

Cradled in this community whose currency was relational ethics, my stock in myself soared. My value depended on the glorious intangibility, the eloquence invisibility, of my just being part of the collective—and in direct response I grew spacious and happy and gentle.

We compete for attention, personally, socially, and economically. No currency has a value that exceeds it. Children, adults, and societies wither on the vine in its absence. To have others attend to what you find important or interesting is to validate, first, the importance of what you are attending to, but second, and more crucially, to validate you as a respected center of conscious experience and contributor to the collective world.

Currency Affairs by Stewart Stafford Monies lent with warm smiles of trust, Are debts collected at a dagger thrust, Gold shipped home from battles worst, Are taxes paid to the mermaid's purse. Whoever seeks to locate buried treasure, Digs their own grave by merest measure, Wealth bequeathed, deceased's pleasure, Forfeited by greed, a dead countermeasure. Cupidity looms outside a counting house, Alimony spat out to a prenup-free spouse, Bankruptcy declared by a profligate louse, Dermatitis creams for itchy hands do douse. © Stewart Stafford, 2022. All rights reserved.

Right now, over 90 percent of the world’s currency is digital. It exists as a numeric concept: Money has value only because we agree that it’s valuable. The value is illusory and dependent on our collective willingness to agree that the illusion is real. And for that illusion to work in perpetuity, money needs to be somewhat finite. If it were possible for a random citizen to flawlessly photocopy a $1 bill ten thousand times, it would not create ten thousand new dollars of equal value. It would imperceptibly devalue all available currency, and if fourteen thousand people did the same thing every minute, the perceived value of a $1 bill would microscope to nothing. This is what file sharing did to music. Napster did not make people like songs less. It probably made people like songs more. But it turned the larger concept of music into an abstraction that signified less.

Work is another prominent word in the vernacular of bitcoin mining, in this case conveying the sense that the currency’s underlying value isn’t based on nothingness but on labor, and hard labor at that. In fact, computational difficulty is its defining feature. The harder it gets, the more real-world resources get spent performing the task, mostly in the form of electricity. Some crypto-economists argue that these inputs are what give bitcoins real value. Just as important, the amount of work—the computing equivalent of man-hours—gives legitimacy to the ledger, in that it represents a significant collective investment in assuring its integrity.

The key words in our prime minister’s letter to the president of the United States were “suffered” and “victim.” That’s the substance of it. That’s our meat and drink. We need to feel like victims. We need to feel beleaguered. We need enemies. We have so little sense of ourselves as a nation and therefore constantly cast about for targets to define ourselves against. Prevalent political wisdom suggests that to prevent the state from crumbling, we need a national cause, and other than our currency (and, of course, poverty, illiteracy, and elections), we have none. This is the heart of the matter. This is the road that has led us to the bomb. This search for selfhood. If we are looking for a way out, we need some honest answers to some uncomfortable questions. Once again, it isn’t as though these questions haven’t been asked before. It’s just that we prefer to mumble the answers and hope that no one’s heard.

As an analogy, we used to think of books, music, and movies as distinct. Then they all became represented by packets sent over the internet. Yes, we listened to music in audio players and viewed books in ebook readers, but their fundamental structure became digital. Similarly, today we think of stocks, bonds, gold, loans, and art as different. But all of them are represented as debits and credits on blockchains. Again, the fundamental structure became digital. Now, we are starting to think of different kinds of collections of people –— whether communities, cities, companies, or countries —– all fundamentally as networks, where the digital profiles and how they interact become more and more fundamental. This is obvious for communities and companies, which can already be fully remote and digital, but even already existing cities and countries are starting to be modeled this way, because (a) their citizens48 are often geographically remote, (b) the concept of citizenship itself is becoming similar to digital single sign-on, (c) many 20th century functions of government have already been de-facto transferred to private networks like (electronic) mail delivery, hotel, and taxi regulation, (d) cities and countries increasingly recruit citizens online, (e) so-called smart cities are increasingly administrated through a computer interface, and (f) as countries issue central bank digital currencies and cities likely follow suit, every polity will be publicly traded on the internet just like companies and coins.

corruption. Is corruption just a matter of legality, of financial irregularity and bribery, or is it the currency of a social transaction in an egregiously unequal society, in which power continues to be concentrated in the hands of a smaller and smaller minority? Imagine, for example, a city of shopping malls, on whose streets hawking has been banned. A hawker pays the local beat cop and the man from the municipality a small bribe to break the law and sell her wares to those who cannot afford the prices in the malls. Is that such a terrible thing? In the future will she have to pay the Lokpal representative, too? Does the solution to the problems faced by ordinary people lie in addressing the structural inequality or in creating yet another power structure that people will have to defer to?

These stunning global improvements have already been tested, vetted and proven effective: 1. To feed the world, easily. Yet grains waste in warehouses to ensure “Profitable Supply and Demand Ratios.” 2. To power the world endlessly, freely, without pollution or waste. Yet basic subsidies are given to polluting, exploiting, un-replenishable resources to ensure power remains in the hands of the controllers. 3. To end all armed conflict and usher in an era of global prosperity. Yet childish leaders propagate “The Demonic Other” to ensure they remain in power. 4. To improve global quality of life by a factor of 3x to 8x in under a decade. Yet it is suppressed to ensure that the elite remain an Elite and separate ruling class. 5. To end drug addictions and social inequality. Yet drugs are industriously pumped into ghettos to breed despair and ensure that ordinary people remain in conflict with each other. 6. To radically reduce crime worldwide. Yet again, suppressed to ensure the reign of an elite prison complex. 7. To reduce the work week by over 50%. Suppressed to occupy the masses with trifling banality. 8. To globally stabilize and secure the world’s clean drinking water supply, EASILY. Suppressed to retain control over the world’s most impoverished. All of these “Trigger Ready Solutions” are suppressed by humans to ensure their power and control over other Humans. They argue about currency manipulation while poisoning the collective air and water to a level where the oceans have little left to give. Absolving themselves of all crimes, preaching kindness and forgiveness, they race into battle against the OTHER while denouncing greed and indoctrinating youth to find it funny to say, “He who dies with the most toys wins.

Up until around 1350, lending with an interest rate was prohibited by both Christianity and Islam—and in Judaism it was banned within the Jewish community—because of the terrible problems it caused, with human nature leading people to borrow more than they could pay back, which created tensions and often violence between borrowers and lenders. As a result of this lack of lending, currency was “hard” (gold and silver). A century or so later, in the Age of Exploration, explorers went around the world collecting gold and silver and other hard assets to make more money. That’s how the greatest fortunes were built at the time. The explorers and those who backed them split the profits. It was an effective incentive-based system for getting rich. The alchemy of lending as we know it today was first created in Italy around 1350. Rules for lending changed and new types of money were made: cash deposits, bonds, and stocks that looked pretty much like we know them today. Wealth became promises to deliver money—what I call “financial wealth.

MMT recognizes that finance is not a limited resource. It is manufactured and created in the act of spending. In the modern world, the exclusive monopoly to issue the currency endows governments with unparalleled spending power. For MMT, that the issuer can spend without technical constraints is a rather trivial observation. What MMT stresses is that taxes and borrowing cannot pre-fund the issuer of the currency, as the currency must be provided before it can be used for tax collections or bond purchases. The substantive question for MMT then is how to deploy this spending power for achieving the two central macroeconomic goals: full employment and price stability.

Generally they did what they’d always done – smooth the passage of their neighbours into and out of the world, and help them over some of the nastier hurdles in between. You needed to be a special kind of person to do that. You needed a special kind of ear, because you saw people in circumstances where they were inclined to tell you things, like where the money is buried or who the father was or how come they’d got a black eye again. And you needed a special kind of mouth, the sort that stayed shut. Keeping secrets made you powerful. Being powerful earned you respect. Respect was hard currency.

Echoes of my mother’s voice reverberated in my mind as I tossed and turned, fighting away the demons who taunted me. I chiseled away at memories made of stone and flesh and bone until I walked down a pathway alone. I could picture sadness crawling beneath my mother’s skin, though her eyes were without tears. Her hands rested in her lap with nothing to do because “in her lap with nothing to do because there were no shoeboxes of photographs to sort through, and no memories of me remained. Thousands of black wings filled the sky until they covered it in darkness. Endless shadows serenaded the emptiness. Tears were the only currency I possessed, but they weren’t for sale, so I couldn’t “pay the piper.” My mother repeated this phrase a lot to me while growing up—meaning I had to accept the consequences of my actions. The only way she could justify knowing her father abused me was by convincing herself it was all my fault. I had to pay some imaginary piper for all my evil deeds and wrongdoings. I woke up realizing it was time for me to let the piper know I owed him nothing. The piper owed me plenty, though, and I intended to collect.” Excerpt From: Samantha Hart. “Blind Pony.” iBooks.

Without cheap fuel oil and raw material, it couldn’t keep the factories running, which meant it had nothing to export. With no exports, there was no hard currency, and without hard currency, fuel imports fell even further and the electricity stopped. The coal mines couldn’t operate without electricity because they required electric pumps to siphon water. The shortage of coal worsened the electricity shortage. The electricity shortage further lowered agricultural output. Even the collective farms couldn’t operate properly without electricity. It had never been easy to eke out enough harvest from North Korea’s hardscrabble terrain for a population of 23 million, and the agricultural techniques developed to boost output relied on electrically powered artificial irrigation systems and on chemical fertilizers and pesticides produced at factories that were now closed for lack of fuel and raw materials. North Korea started running out of food, and as people went hungry, they didn’t have the energy to work and so output plunged even further. The economy was in a free fall.

The cryptocurrency community never expected to ask whether TerraUSD (UST) or LUNA would hit $1 first. Recently in mid of May, the dramatic drop of a stablecoin named TerraUSD and Terra Luna rattled the entire crypto market, and other tokens such as bitcoin and tether also struggled. Terra Luna is currently almost useless. Some have also connected this crash to the financial meltdown of 2008. After all, it is the darkest moment in the crypto-verse since the bankruptcy crisis that forced the closure of the Mt. Gox exchange in 2014. But what actually happened? What impact will this have on the rest of the crypto ecosystem? What is Terra, and why does it have a sister currency named Luna? Here's everything you need to know. What are Terra LUNA and Terra USD(UST)? Mechanism of Terra Following this crash, there is uncertainty among cryptocurrency enthusiasts; many of them called it the Luna crash, and some called it the Terra crash. Even though it is a stablecoin, UST also crashed. Let’s clarify this- Terra is a blockchain network that focuses on producing stablecoins. Technically, Terra is the crypto asset, while LUNA is the sign for its native cryptocurrency. Terra’s ecosystem is composed of two different types of tokens: LUNA and a group of stablecoins. Stablecoins from the first generation, like Tether, keep their value by leveraging a variety of assets, including fiat reserves. However, some supporters of decentralization contend that having a single body in charge of a collection of physical assets creates a single point of failure. Risks such as opaque governance structures and the question of whether the reserves held to correspond to those declared are brought about by this, which focuses regulatory attention. Decentralized stablecoins attempt to overcome these governance problems by keeping their pegs through algorithms as opposed to huge currency and debt reserves. One such algorithmic product is TerraUSD (UST), created by Terraform Labs. UST is an algorithmic stablecoin in the ecosystem of Terra. Unlike fiat-backed stablecoins like USDC and BUSD, UST is not backed by physical assets. Instead, UST uses algorithms to keep its value pegged to $1 and is backed by a sister token called LUNA. When the price of UST increases too much, its algorithms create additional LUNA to reduce the price, or the opposite if the price decreases too much. LUNA is intended to act as a sort of price shock absorber for UST. Just like any other stablecoin, users must be able to exchange one UST (even if it is worth less than $1) for one LUNA for this mechanism to stabilize the price to function.

We don't collect fancy cars or houses, horde money, make investments. We travel the road, collect sights and sounds instead. Respect and pride are practically currency here.

It is understood that the Bank need not relinquish the bonds it holds, but will continue to collect interest on them. The Bank then loans the new printed currency into circulation to anyone who can provide it with satisfactory collateral. In less than twenty years the Federal Reserve brought the money system, banks, exchanges and economy to utter ruin.[77] Every dollar in circulation in the United States is a borrowed dollar and pays its toll of interest to the Illuminati bankers. Nearly eleven trillion dollars in debt has been created since 1913. The American people cannot even pay the interest! Every month more than two billion dollars interest has to be paid. It is madness that a government hands over so much power to a private bank that is not controlled by anybody. A power that can create money out of nothing! Why the United States borrow its own money, based on its own credit, at interest, from private bankers? Please bear in mind the fact that the founding fathers made sure that provisions were made by the Constitution for an honest and debt free money system. In part Article 1, Section 8, Paragraph 5 of the Constitution states: “Congress shall have power to coin money and regulate the value thereof.” It is most evident that by this provision, Congress alone should be the money-creating agency

The President called it the “Epitome of the American dream.” Daddy called it the “unholy alliance of business and government.” But all it really was, was America giving up. Bailing out in order to join the Financial Resource Exchange. A multinational alliance focused on one thing: profit. Fund global medical care to monopolize vaccines. Back unified currency to collect planet-wide interest. And provide the resources needed for a select group of scientists and military personnel to embark on the first trip across the universe in a quest to find more natural resources—more profit. The answer to my parents’ dreams. And my worst nightmare. And I know something about nightmares, seeing as how I’ve been sleeping longer than I’ve been alive. I hope. What if this is just a part of a long dream dreamt in the short time between when Ed locked the cryo door and Hassan pushed the button to freeze me? What if? It’s a strange sort of sleep, this. Never really waking up, but becoming aware of consciousness inside a too-still body. The dreams weave in and out of memories. The only thing keeping the nightmares from engulfing me is the hope that there couldn’t possibly be a hundred more years before I wake up. Not a hundred years. Not three hundred. Not three hundred and one. Please, God, no. Sometimes it feels like a thousand years have passed; sometimes it feels as if I’ve only been sleeping a few moments. I feel most like I’m in that weird state of half-asleep, half-awake I get when I’ve tried to sleep past noon, when I know I should get up, but my mind starts wandering and I’m sure I can never get back to sleep. Even if I do slip back into a dream for a few moments, I’m mostly just awake with my eyes shut. Yeah. Cryo sleep is like that. Sometimes I think there’s something wrong. I shouldn’t be so aware. But then I realize I’m only aware for a moment, and then, as I’m realizing it, I slip into another dream. Mostly, I dream of Earth. I think that’s because I didn’t want to leave it. A field of flowers; smells of dirt and rain. A breeze ... But not really a breeze, a memory of a breeze, a memory made into a dream that tries to drown out my frozen mind. Earth. I hold on to my thoughts of Earth. I don’t like the dreamtime. The dreamtime is too much like dying. They are dreams, but I’m too out of control, I lose myself in them, and I’ve already lost too much to let them take over. I push the dream-memory down. That happened centuries ago, and it’s too late for regrets now. Because all my parents ever wanted was to be a part of the first manned interstellar exploratory mission, and all I ever wanted was to be with them. And I guess it doesn’t matter that I had a life on Earth, and that I loved Earth, and that by now, my friends have all lived and gotten old and died, and I’ve just been lying here in frozen sleep.

It is understood that the Bank need not relinquish the bonds it holds, but will continue to collect interest on them. The Bank then loans the new printed currency into circulation to anyone who can provide it with satisfactory collateral. In less than twenty years the Federal Reserve brought the money system, banks, exchanges and economy to utter ruin.[77] Every dollar in circulation in the United States is a borrowed dollar and pays its toll of interest to the Illuminati bankers. Nearly eleven trillion dollars in debt has been created since 1913. The American people cannot even pay the interest! Every month more than two billion dollars interest has to be paid. It is madness that a government hands over so much power to a private bank that is not controlled by anybody. A power that can create money out of nothing! Why the United States borrow its own money, based on its own credit, at interest, from private bankers? Please bear in mind the fact that the founding fathers made sure that provisions were made by the Constitution for an honest and debt free money system. In part Article 1, Section 8, Paragraph 5 of the Constitution states: “Congress shall have power to coin money and regulate the value thereof.” It is most evident that by this provision, Congress alone should be the money-creating agency of the nation.[78] Although the Constitution has been set aside through the intrigue and power of the Illuminati, the Congress of the United States is authorized by the Constitution to do as Abraham Lincoln did in order to finance the Civil War, to-wit: “issue the money required against the credit of the nation, debt-and interest free”. Lincoln didn’t want to borrow money from the Rothschilds and Co. The interest rate set by the banks was twenty-eight percent. For Lincoln Article 1, Section 8, Paragraph 5 was sufficient authority to disregard the powerfully entrenched bankers. So, in spite of the greedy bankers’ protests he caused to have printed in the Bureau of Printing and Engraving a total of $450,000,000 of honest money, constitutionally created on the credit of the nation.

John Law’s 'Money and Trade Considered' is the most influential but least acknowledged work in the history of economics.

Every time you use a banknote; every time you use a modern coin; every time you use a credit card or debit card; every time you use internet banking; every time you use any modern crypto currency; every time you use a gift voucher; every time you use a poker chip; in fact, every time you enter into any form of transaction that does not rely on bartering, each such transaction has its ideological origins in John Law’s idea that money need have no intrinsic value.

Pride won't get his license renewed or pay the water bill or keep the collection agencies at bay. It's a useless form of currency they can't afford to trade in anymore.