The Featured Image above is an unretouched photograph I took in 1997 while in a moving car on the way to Yalta, Ukraine. Step back from the monitor. See the face in the middle? Pretty cool…
To understand how a society can come to the conclusion to give value to currency by secular faith alone consider this example.
If a person works all year to mine gold and mines $100,000 of it then they can expect to trade that for $100,000 in currency.
If a person works all year at a desk creating nothing but ideas, writing them down, and advising others in meetings for a salary of $100,000 then they can expect to trade that for $100,000 in currency.
If a company works all year to create goods or provide services for revenue of $1,000,000 then they can expect to trade that for $1,000,000 in currency.
To find ourselves with the currency and accounts to accommodate every instance of tangible (gold, silver, etc) and abstract (work, potential, project costs) wealth accumulation is perfectly reasonable. To disagree is to give no respect to the labor and artistry of each citizen that created every dollar.
The value of gold is as it is as a result of faith. If we decided as a society tomorrow that we no longer would use gold as an investment we could make it worthless. Instead, we give it value. The same is true for the worker that creates ideas, manages people, or guards a piece of property. Their time and thought has value. People are the greatest ongoing asset of any human society.
Creation of expenditures for the coming year based on the track record of and expectations for the nation is perfectly reasonable. Government establishes the structure of reliable environment that allows all other achievement of the society to take place. A low number such as 7% of GDP is a tremendous amount in the United States.
In order to achieve work at any office position an employee requires supplies, a place to work, facilities for various reasons, communications ability, etc. All of those items create the environment where work can be done. They are often paid for in advance in cash or credit – motivated by the faith that those items will be useful and that an employee will take advantage of them for the benefit of the company.
Projecting this idea to the national perspective, it is reasonable to expect that the government can create a budget for its use in maintenance of our national environment in the coming year based on expectation alone. Faith in ourselves to make use of the U.S. environment for our benefit and benefit to the world is all that is necessary.
All of this is possible in a society that has faith in itself, inspired from the top and returned from the bottom. The ongoing foundation of which is a society aware in word and in action of the value of a single citizen.
I suggest that there is another environment deserving of maintenance by a nation – a struggle-free environment. In order to achieve struggle-free, a third-party organization of integrity, such as the Federal Reserve, will keep currency prices stable with a slight inflation on a smooth rise – as any accumulation vehicle of the investments, work and artistic success of a citizen of the United States should be.
Then our society will issue currency to every American citizen of working age in the amount of our Struggle-free Maintenance Line. The same amount to everyone – rich, poor or in between. That amount will be enough to cover the two lowest levels of Mazlow’s Hierarchy of Needs.
Leave uncertainty for the artistry of life. The structure of our societal agreement of shared pursuit of happiness demands certainty in savings and the basic underpinnings of lives that stay on course for their entirety. For a thrill or show of skill we can achieve within an environment of uncertainty in stocks, mutual funds, entrepreneurship and every other way we think to do so.
The benefits of citizens that avoid struggle include:
- Elimination of poverty
- Reduction in crime
- Reduction in superior thinking
- Reduction of immigration problems*
- More efficient work achieved by workers finding their best career
- Elimination of unemployment-related stress and harm
- Elimination of municipal bankruptcy
- Master-planning potential
- Responsible behavior improvement
- Adoption of our structure of faith-management by foreign countries
- A world of many specific currencies with one flexible, standardized system
- End of national collapse potentials and war