Currency is a recognized media of value (i.e. everyone agrees on its value) that we exchange our energy for (just think electrical current i.e. Current-cy).
We expend energy through labor to create things (or provide direct services to others) that people want or need.We in turn are given currency (portable, transferable, stored labor/energy) in exchange for that labor, which we can then use to acquire goods and services others labor to produce, that we need or want but do not have the time, skills, or interest to directly labor for.
Through a universally accepted ¹medium of exchange - of portable and transferable energy (i.e.currency) - we can more easily benefit mutually from the skills, talent, and labor of an unlimited number of others without having to barter.
For example, if I am a dentist and you do landscaping, I can provide dental work for you in exchange for landscaping. This works fine but only if I need landscaping and you need dental work i.e. barter is limited to the specific things we EACH offer or need at the time that we need it.
A currency however is a universally accepted media of transferring your and my labor/energy. This means everybody will accept it as payment for their labor/energy and also offer it to others for the goods or services their labor/energy produces at any time. So use of currency is not limited to any one particular service - such as dental work - or product at a time of need but is unlimited in how it can be transferred and used.
When we give currency to another we are in effect giving transportable/transferable energy/labor to them through a media of exchange or currency which they in turn agree to accept from us.
Our energy is expended and exchanged for transportable/ transferable currency which they in turn can exchange for goods and services that have been created by the labor/energy of others, which they can also convert to currency.
Currency is simply a universally accepted, portable, and easily transferable media of exchanging our energy/labor (and the fruits of it) with each other whenever and wherever we need to.
Who is in control?
Here's the part most don't understand. If a central authority, such as a bank, issues and therefore controls the currency (money) - such as our current fiat currency or the proposed ³CBDC - in effect, it controls the people who labor for it.
If no Central authority is necessary to verify the value of a currency but its verification is distributed evenly through a decentralized network that no one controls (or you could say the laborers "control" together via a network) then a central authority is no longer needed. But most importantly, central control is no longer possible. The verification of the value is now in the hands of "we the people" and not any one central institution or person.
What about profit? Is it good or bad?
Profit is merely surplus energy created through efficiency and hard work.
But also through innovation. This occurs when the laborer finds an area of demand/need/want through their ingenuity/ innovation/creativity and supplies that want or need more efficiently than others (or exclusively before anyone else does).
The basic engine that drives commerce is supply and demand. The laborer/innovator supplies what others need want, or demand.
Commerce is nothing more than the exchange of goods and services - by means of currency - that are needed and desired by others.
To provide goods and services that are needed or wanted is not taking advantage of people but actually serving them. It is treating them with value/care. In short, productivity does not necessarily require greed. It can be driven by a desire to serve others; to treat them as we wish to be treated i.e. to love our neighbors as ourselves. In so doing, we are carrying out the 2nd greatest commandment.
When profit is generated through deception or abuse of resources, this is not a natural or inherent part of profit-making but the abuse of it. There is nothing inherently wrong with profit-making (i.e. efficiently, diligently, creativity meeting the wants/needs of consumers better than other competitors/ providers) but only the abuse of it.
Often, profit-making and abuse of it are mixed together as if they are one and the same. They are not. To shut down profit-making because it is abused is not the solution to the actual abuse. It would be equivalent to docking a sailboat, which is more efficient than using a row boat because the sailboat captain is always drunk and constantly wrecking the ship, causing harm or damage to others. The sailboat is not the problem, the captain steering the boat is.
Any economic system or endeavor can be (and often is) corrupted and abused simply because humanity is broken i.e. the problem is not necessarily the means of doing commerce. We must separate and distinguish the system from the abuse of a system.
All systems are subject to abuse, not necessarily because this is inherent within the system, but because of human nature's inclination to take advantage of others solely for their own benefit i.e. selfishness vs service.
Some systems are more conducive to abuse than others. Systems that have centralized power (such as ²socialism and communism) tend to be abused most due to the selfish inclination of humanity. As the saying goes, power corrupts and absolute power corrupts absolutely. If you put the control of commerce in the hands of a centralized authority, abuse inevitably occurs due to our inherent inclination to be selfish.
This is why our system of government was set up with a separation of powers and various checks and balances. You could say power within our system is decentralized. The founders understood the corruption of centralized power firsthand through tyrannical British rule.
Large profit may simply be the fruit of greater energy expended and utilizing greater efficiency and innovation (creativity) than others, not necessarily or automatically the fruit of greater abuse.
To say it simply, the greater and better the job you do the more you are rewarded. Great profit can simply be that you have made a larger number of people happier by providing what they want or need better than anyone else.
The danger of centralized control.
When you can devalue the currency by creating additional currency out of thin air you are in effect unknowingly (to them) taking (stealing) people's energy to pad your own pocket by diluting the value of the currency others labored for e.g. to double the money supply is the equivalent of doubling the number of hours of labor required to generate the same earnings. Without an honest currency/money system, you have legalized theft.
And as long as there are those allowed to steal from you unknown and therefore unchecked, they will continue to do so by whatever means possible (through deception) to maintain power and control over others, i.e. over our labor/energy/time etc. This is why the Federal Reserve system must be eliminated. It is taking the fruits of one's labor/energy through deception and using it to advance their agenda of those who control the system - which is not necessarily or usually the people's agenda. This is not only taking advantage of the producer/worker but increasing their control over others i.e. You and I.
The media of exchange that best provides honest money is cryptocurrency. For a discussion on why click here.
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¹One of the oldest and most common media's of exchange was gold and silver. Originally in America we used gold and silver coins (A dollar was an ounce of silver. A quarter was a quarter ounce and a dime was 1/10 an ounce). The paper dollar was backed by gold or silver and could be turned in for the amount of gold or silver the "bill" designated i.e. 5 "dollar bill" or 10 dollars or a 100 etc. Eventually, we went to paper certificates of deposit that were backed by silver. Now it is merely currency by fiat (law) and backed by nothing. We use it because it is required to be used i.e. it is legal tender.
This doesn't mean we can not use other forms of currency. That is up to the buyer and seller of goods or services. It means you can only use it to pay the government i.e. taxes. And they will only pay you with it and not some other currency such as Euro's, Yen, or British pounds or a ³true decentralized cryptocurrency etc.
A currency can be any universally recognized media. Because of the devaluation of the paper dollar through excess spending and printing more to cover the nation's increasing debt, more are turning to privately created digital currency known as cryptocurrency. ³True cryptocurrency has a limited number of coins created resulting in them increasing in value against fiat currency, as their use becomes more widely accepted.
²those who promote such systems pretend benevolence (and maybe even naively believe it's more fair) when in fact they seek power and control (whether consciously or not… they argue someone has to run the show to prevent fraud. Ironic when you consider the whole current fiat money system is legalized theft).
The appeal to the consumer is I'm promised I'll be cared for regardless of whether I work for it or not, by those who promote (and control) distribution. This promise is the primary way they keep us in the system and under their control.
³CBDC (Central Bank Digital Currency) is not decentralized or has a set number of "coins" issued. It is therefore not true cryptocurrency. I would avoid it at all costs.
For a further discussion on the difference between controlled CBDC and true cryptocurrency click here.
For a further discussion on the difference between socialism and capitalism, click here.
For further discussion on the difference between a legitimate and illegitimate endeavor or business click here.
If interested in acquiring precious medals at 12 to 17% below standard dealers' cost click here.
To take advantage of the rapidly growing cryptocurrency market email us at bigdeal70@pm.me
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