Currency is a recognized media of value (i.e. everyone agrees on its value) that we exchange our labor/energy for (just think electrical current i.e. Current-cy). Because of this agreement everyone is willing to accept it in exchange for their labor.
We expend energy through labor to create things (or provide direct services to others) that people want or need.We 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; goods and services we provide or produce that others need or want but do not have the time, skills, or interest to directly produce or labor for.
As a society, we can more easily benefit mutually from the skills, talent, and labor (and production) of an almost unlimited number of others without having to barter by using a universally accepted ¹medium of exchange - of portable and transferable energy (i.e.currency) -
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. So the use of currency is not limited to any one particular service - such as dental work - or product needed, but is unlimited in how it can be transferred and used.
When we give currency to another, we give transportable/transferable energy/labor through a media of exchange or currency the other party agrees to accept from us. This is a mutually beneficial transaction and relationship, i.e. what some call a "win-win" scenario.
Our energy is expended and exchanged for transportable/ transferable currency, which they in turn can exchange for goods and services 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 government, issues and therefore controls the currency (money) - such as our current fiat currency or the proposed ³CBDC - this in effect is a means of controlling 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 of the currency is now in the hands of "we the people" and not with any single central institution or person.
What about profit? Is it good or bad?
Legitimate profit is merely surplus energy created through innovation, efficiency, and hard work.
Innovation occurs when the laborer finds an area of demand/need/want through their ingenuity/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 - through 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 involve greed. It can be driven by a desire to serve others - to treat them as we wish to be treated; to love our neighbors as ourselves. In so doing, we are carrying out the 2nd greatest commandment in the Bible.
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 or making it (i.e. efficiently, diligently, and creativity meeting the wants/needs of consumers better than other competitors/ providers) but only the abuse of it.
Often, legitimate 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 mechanism from the abuse of it.
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 because of 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 because of our inherent inclination to selfishishness. The more power and control someone has - and the fewer there are who have it - the more likely this abuse occurs.
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. This resulted in the action and concern in the American colonies of "taxation without representation."
Large profits are not necessarily the result of this corruption but may simply be the fruit of greater energy, efficiency, and innovation (creativity) than others i.e. not necessarily or automatically the fruit of exploiting the consumer.
To say it simply, the bigger and the 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 - more efficiently and less expensive- 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 the users of the currency) 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 without your knowledge and go unchecked, they will continue to do so by whatever means possible (through deception or keeping others in the dark, thereby controlling the narrative via information outlets on how money works) in order 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 our labor/energy through deception and using it to advance the agenda of those who control the system - which is not necessarily or usually the consumers 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 of exchange has been 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 (in fact our present currency is debt based). We use it because it is required by law i.e. it is legal tender, also known as fiat (money by degree or law).
This doesn't mean we can not use other forms of exchange if we mutually agree. That is up to the buyer and seller of goods or services. We are free to pay each other with whatever we agree to. This means you only have to use "legal tender" to pay the government, i.e. taxes. And they will only pay you with it and not some other currency such as Euros, Yen, 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 through supply and demand, as their use becomes more widely accepted. A set number of coins does not allow them to be devalued (diluted) by constantly creating additional new coins (like we do now with paper money and every other "developed" country using fiat currency).
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. There is a clear indication it will actually increase the central authorities' control over every part of our lives.
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.
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To take advantage of the rapidly growing cryptocurrency market email us at bigdeal70@pm.me
We are part of a rapidly expanding cryptocurrency exchange that is making it easier to interface our current fiat system with truly decentralized cryptocurrency.
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