The pamphlet argued that “those who do not have to work hard with their limbs, and those who are inclined to sit about” will “store up their protein for passion”, making retirement, for example, a period of increased passion and marital discord. It ended by warning: “Beware of the fun of indecent suggestions; of the amusement from the titillating scandal of private lives; of the diversion of the undress of low journalism etcetera. These things erode our morals and twist young minds.” In addition to the pamphlet, Green left several unpublished manuscripts, including a novel, Behind the Veil: More than Just a Tale; a 67-page text, Passion and Protein; and a 392-page edition of Eight Passion Proteins, which, Carter writes, was rejected by Oxford University Press in 1971.
“Next plung’d a feeble, but a desp’rate pack, With each a sickly brother at his back: Sons of a Day! just buoyant on the flood, Then number’d with the puppies in the mud. Ask ye their names? I could as soon disclose The names of these blind puppies as of those.”(B 305–310)
End of Ownership, Circular Economy Proof of Brain and Primary, Intermediary and Consumption Energy Tokens. A Framework Evolves.
If one just accepts that there is nothing to redeem the existing Finance System getting on with rebasing money to
Either Joules or KWH equivalents in the three categories of Primary Intermediary and ConsumptionAnd noting the Hoarding aspects of energy in long-term capital assets and applying something akin to the single land tax on them, we really can get somewhere near to a sustainable Birth Right economy. Where it gets very interesting is in the Information economy where shared knowledge doubles the knowledge it does not half it. Richard Stallman (GNU) often makes that very point.
To satisfy the need for Status in the Social Animal Humans Kind ( see Pigou Dalton Principle for a Theoretical framework for Taxation boundary conditions. ) Anyhow it is in the space of non-monetised social interactions where the second sort of discretionary token can be created on a blockchain providing the necessary ornament and display trinkets that determine the mating game? I will not elaborate here but Forres / Lagom the community system I have been working on has the idea that it is Mineable or winnable or giftable, The Distributed computing platform Steemit has something called proof of Brain which is a species of the sort of on-line social success measure which can easily be monetised to provide a competitive element to the Production of both the Birth Right token and the Discretionary speculative mating game side of the sustainable circular economy.
https://t.co/wTkFFDrwOv #Eleven10t0thetwoOne for the skeptics’ Nothing to fear but fear itself the economy as energy transformation machine. #Nafta #RossPerot #WrongkindofGreen #EnergyEconomic #8thwaytothink #ConquestofDough #ObjectiveKhunts #GrubStreetJournal #OIP #Alexanadria pic.twitter.com/0yKap9EJXj— RogerGLewis (@PMotels) July 16, 2019 https://platform.twitter.com/widgets.js
We should be carefully looking at where we are investing our money. (1)
(1)ED. This is the key misunderstanding, the whole basis of this analysis should look at Net Energy Surplus over cost of energy extraction, then in a real sense the Sentance , “We should be carefully looking at where we are investing our Energy ( qua, Energy )”, would have an energy-based monetary unit taking the place of the Debt-based monetary unit as a referent, the debt-based monetary unit as a referent renders the statement meaningless a per pro-energy capital allocation decisions.
I have not commented for a while, I almost did on a recent blog in which you said that Electric Cars were no panacea, which of course they are not.
I know that that blog and this are looking for discussion and in this spirit offer this VPRO documentary which is in Dutch, subtitles are available in English.
These questions of Circular Economy, Materials Passports, re-defining prosperity, Status questions, Distributive and re-distributive political economy all feedback into a question of *Whoś Reality’ are we seeking to cater for in our political Economy.
That is a fundamental question Who’s Reality?
Your perspective is grounded in abstracting reality to a balance sheet view albeit a balance sheet based on SEEDS energy metrics. My own perspectives are drawn from technological perspectives and these Cornucopian views of Cornucopian possibilities derived from circular manufacturing concepts lead me to be optimistic as a possibilist technologically speaking. The obstacles are and will remain political and geopolitical and here the Pigou Dalton principle regarding status and managing expectations becomes paramount. https://en.wikipedia.org/wiki/Pigou%E2%80%93Dalton_principle
I would be very interested to hear what you think of Thomas Rau’s ideas I find them compelling.
All sovereign debt shall be financed with Shares of global fiat credit, that may be claimed by each adult human on the planet, held in trust with local deposit banks, administered by local fiduciaries and actuaries exclusively for secure sovereign investment at a fixed and sustainable rate, as part of an actual social contract
This is a great idea, getting the conversation started is quite a problem even with those with a long history of supporting Universal Basic Income. Stating a proposal this boldly is an excellent initiative as it invites people to sign up unless they have a sound objection. I see no objection and would happily sign up to this to get the show on the road.
Here is a Dialogue I had with Clive Lord Joint founder of the UK Green Party, I wish Clive could see the money creation question as clearly as you state it here Stephen. http://letthemconfectsweeterlies.blogspot.se/2016/08/neo-liberalism-billy-no-mates-or-just.html
Go to the profile of Clive Lord
‘Fiat’ money MUST be tied to eco-considerations, so must entail redistribution, and with a Basic Income taxes can reflect what is, or is not sustainable.
Go to the profile of Roger Glyndwr Lewis
Roger Glyndwr Lewis
I am really happy you have joined this discussion I think that Stephens’s distillation of the problem to his simple rule provides a very good starting point to understanding what money is and what it can be.
Regarding sustainability, I think that Energy-based metrics for money values is essential this is nothing to do with redistribution and everything to do with being cognisant of what stuff there is and where that stuff is. Dr. Tim Morgan has done some excellent work on the question recently on his Blog.
Tim Morgan in the last blöog of his I read a few weeks ago appeared to be getting frustrated and drawn into frustration and doubt as to the extent to which new energy technologies can really sustain the Human Family Hans Rausing used to call himself a possibilist and I think that’s a great positive view to have regarding Stephens simple rule I think we can all speak to our inner possibilist and see that he is on to something here.
The answer depends on what the ultimate aim is for the questioner.
The issues are, Centralisation versus decentralisation Issues revolve then around the production of money and distribution of money In the Crypto world, the euphemism for centrally created is Pre Mined, of course, it is not pre-mined at all in the case of Stellar, Cardano, Ripple and of Course Tether. The next layer of the money creation question then comes to Real Pre mining which is to do with allowing an exclusive group usually the development community to mine for a period at the genesis block to a further period which effectively reserves a big chunk of the first money created to rest in the hands of a powerful group, this question is often discussed in initial coin offerings. The most famous pre miner is, of course, Satoshi ( him/Her self ) The Genesis blocks and the keys to the first bitcoin blocks are in the hands of the mysterious Satoshi and amount to 10% of all bitcoin in existence the video I sent yesterday of Heart and Verr discussing Bitcoin and Bitcoin cash has a large section when this is discussed other videos I sent have included discussions of the Monero Crippled Miner and also the Genesis mining of Dash and Ethans fast one regarding who got the lions share and hence control of a supposedly distributed and decentralised value system. Ethereum tackled all of these questions and was and is very transparent there is still a high concentration of power as represented by concentration of token control at the top but not as bad as say Ripple and Tether- The next question you get is, is it open source and how truly open-source and accessible is the decision-making process ? this is the much-vaunted Consensus algorithm stuff. The Byzantine General and all of that, At this point you get to the Hard Forks soft forks and Discussion regarding Bitcoin Gold/Cash/core etc. Craig Wright (I Think he is Satoshi or Half of Satoshi who I believe were he and his US friend who died of cancer a few years back now ( details are important) I.e Satoshi never was just one person the initial effort was a group effort including Nick Szabo and some other notable Cypher Punks, you also have to factor in people like Julian Assange and WikiLeaks which is all part of the same movement that Bitcoin emerged out of. So that takes us back to who are the good guys and bad guys the answer to which is you pays your money and makes your choice or in my case you Build your miner and choose your Currency/pool. I mine EThereum but will in due course be mining ETHER ( for as long as I can I:E Proof of Stake) Ethereum Classic, the debate between Ethereum and Ethereum Classic, dates back to the DAO hard Fork and the DAO Hack. This is the bit about Rolling back the BlockChain. Heart is against it in the Heart Verr interview, I think he’s wrong to be absolutist about it, I agree with Ethereum Classic in many ways but think they were wrong to say that the Dao Hacker should have been let off the hook. I Like Ethereum, Dash, Monero Bitcoin Gold/ Ethereum Classic Bitcoin Bitcoin Cash SIA Coin IBIQ and BISQ as an exchange Finally, I like Gold and Silver and Lanthanides ( rare earth Metals ) Lietears Terra made into a Crypto would be the ultimate good Guy the work I did a year or two back on currencies in this space tackles all these questions http://www.lietaer.com/2010/01/terra/
” A question was put to the former chief of the Executive Board of the Deutsche Bank, Hilmar Kopper in an interview in a TV network in the spring of 1991: “What is it that gives money its actual value?” One might have expected Kopper to refer to the performance of the political economy that provides the cover for our money. But the reply of the banker was short and to the point: “The time factor means that it (money) increases through interest”, and to the inquiry of the astounded interviewer: “Money without time is then nothing?”, he confirmed the same in more detail: “Money without time means nothing, of course, it can be spent right away. But that does not multiply money, money is then turned into something else.” This definition of a former banking expert is significant. According to him, our money is not primarily for the purpose of mediating an exchange of goods and services in the economic system, but more for self-propagation!”
Interest as a Means of Redistribution / 8 Excerpt from Helmut Creutz The Money Syndrome Towards a Market Economy Free from Crises https://realcurrencies.files.wordpress.com/2012/01/monsyndrome_ch-7-18-21-22-1.pdf
This famous cartoon shows The Golden Tail ( Store of Value) wagging the Silver ( Means of Exchange Dog ) it is from 1896 at the time of the famous William Jennings Bryant Cross of Gold Speech. One point which cannot go unconsidered is the point that Atom bank make but don’t back up as far as I can gather, and that is that Blockchain technology gives parties who wish to contract to exchange the opportunity to bypass banking intermediation or any other intermediation, effectively every transaction potentially has its own private bank as a special purpose vehicle. If this negates traditional bank intermediation services and Bankings monopoly to Originate money through credit, is also gone. Are we looking at the famous African Blue Bank, is it deceased, has it ceased to be and gone to meet its maker?
Periodically, usually every 12-18 months I find that my reading and research loop back to a common point, All roads lead back to a central direction or a common vector. This past 3 months I have been immersed in the Hardware side of computing looking at and implementing my own Mining operation for Crypto Currencies