Before we get started, I wanted to extend a grateful thank-you to the people in Russia who have lately visited this blog. Were more people aware of this proposal, there wouldn't be any trouble between the Russian and American peoples. Their governments, especially in the West, are as we all should know by now, in thrall to THEIR banks and THEIR money; THEIR capitalism that allows those with more money than ever requires them to work a day in their lives, to make money on it without working. This capitalism required state socialism in order that the lower classes of society do not rise up and revolt – for being long out of work and deprived of any meaningful future in the present or future economies. The two evil twin sisters are used to manage the public for the benefit of the capitalists; those who PAY have the SAY. It is and isn't quite as Karl Marx indicated, because he was actually in THEIR pay and even had a “handler,” which indicates just how far back espionage networks go.
Yesterday I posted the following on freedom4um under the heading Your Own Money
Since its inception in 2011, the E. C. Riegel Blog has developed into an impressive library of resources enabling one to understand the potential power and significance of actually earning and using your own money.
We'll attempt to make it plain exactly why people are more valuable than anything else and that this posits a better basis for a monetary system than anything else. We offer a unique but obvious perspective on money, economics and the economy.
Our mission has been from the beginning to offer humanity the basic economic lifeboats away from a system that we believe is like the Titanic in its ultimate fate. We do not want to be aboard her or have anything to do with her. It was said, “come out of her, my people,” etc.
We took particular cognizance of the opening statements on this forum. We don't know whether it is active or not, but we agree with everything said. Everything, especially the right NOT to associate. We simply cannot do that until we have our own money, period. So please take a look at the proposal and get back to me concerning any ideas you may have to bring it into being.
As Riegel himself said, without the freedom represented by money issue, the other freedoms are really pointless. If we have that power and it eventually prevails, then we get to call the shots when THEIR money ultimately fails; no more wars, no more immigration without limits, no more, no more, etc. We want our freedom, we want no more of theirs.
We also have to start walking out on them, disrupting their terrible plans, socially shunning their company and any who work for them, do not treat these people as friends, etc. This can and would cause cleavages to break even in families.
But these people who pay us have not earned our trust. In fact we have to grow some “horns of iron and hooves of brass.” I'm particularly seeking out people in law enforcement for the right reasons, their grandmothers, lawyers who may be able to keep the beast from us until it is no more, and the “pillars of society” people whose businesses are characteristic of their locations and hallmarks of their communities, without which their locations would not be what they are. These many might call the John or Jane Galts of their areas.
The first thing is to organize what I have called the International Value/Valun Exchange Society or IVES. Call it what you will, this organization would be the servant of all the local Valun exchanges that would spring up. Then we have to set to work finding and organizing among ourselves in our local communities.
We don't have that long before their system bites the dust. Then they'll offer us a new one with more police state aparat, none of which we want but all of which is necessary to keep their agenda going. THEY PAY FOR IT WITH THEIR MONEY AND WE ARE ALL SLAVES TO IT. Since this is obvious we have to devise our own.
But even if we had a hundred years, how much is held back simply because we have to rely on borrowing more of THEIR money? Right. You're wasting your life. What does your community need that you could provide if there were money to pay for it? It's time to STOP relying on them and doing our own thing.
Any comments may be used by me for future articles, but I am about this because it is the truth and for no other reason. If you see what I see and have ideas what to do, let me hear from you.
Now I'm going to respond to a few of the comments received so far and perhaps venture into some other digressions.
Wonderful article ... we must divest ourselves from their monetary fraud ... how we do it remains to be seen. Some communities have begun issuing their own script / currency based upon hours worked. Bottom line is we will either develop our own system or they will shove theirs up our keesters.
Thank-you! I appreciate that you and I see some of the same things.
We must reform the FED RESERVE to such an extent that the currency in circulation is created by and belongs to the United States Treasury, not the FED RESERVE. Checking accounts would be classed as treasury notes and would not interfere with the credit system.
...which is pardon me, equivalent to the average person climbing Mt. Everest and slaying the giant that lives there, should there be one. No, why bother? It's THEIRS not yours. Everyone needs to get THAT through their thick skulls. We have to admit to our brainwashing if we endured American public education, and even most private education. Everyone is trained up, entrained, to believe certain things without question, when the powers behind the curtains have changed the rules without telling anyone; or substituting one lie for another. There is no reforming the Fed, that's ridiculous. That's not even a solution. It wouldn't produce another significant rise in gainful employment, etc. If it matters, the proposal has been tried and failed every time because GOVERNMENTS ARE NOT ENTITLED TO ISSUE MONEY! Read Riegel on this blog. Every time someone steals your fiat to issue money, that money must fail. Now that's one end of their dialectic.
The other is precious metals, which they also control, or somebody other than you controls the trading value thereof. This forms the two ends of the same dialectic; either THEIR credit or THEIR gold.
The system of credit [no, THEIR system of credit, not yours or mine] would then have the notes necessary to pay interest on credit within it (that of treasury notes issued interest free) AND the laws wouldn't necessarily be predicated upon the UCC leaving the Constitution and common law unmolested by commerce.
… all of which is impossible to achieve and anyway who wants to keep supporting usury once one discovers what a rip off it is? Let everyone walk away from it, let them try and save themselves, let them destroy themselves in a welter of their worthless money as they attempt to further gobble up the earth to pay back that which was never created. Until you see it this way, you can't be said to have learned anything worth knowing about money and economics.
Separating the circulating currency (issued debt free by the treasury) from the credit system is absolutely necessary. Then, as opposed to the way things are done now, all monies wouldn't be considered as debt; and credit (debt) would become voluntarily utilized. Contracts for credit would then apply only to borrowers and those choosing not to borrow would fall under the common law while users of credit would fall under the commercial contract law related to their use of credit.
We aren't offering to fix their system. We're telling everyone that it's the Titanic and going down and to get off her. You can't get off her until you build a parallel monetary system to get off onto and it's THAT money you want to see circulate. The wider its acceptance the better for you! They think their salvation is going to be Bitcoin or something like that. But I have news for them: when the lights go out there's only what's physical or written down that will matter. We explained this here
As things stand today all currency is debt and their isn't any means of paying the interest without building perpetual bubbles of debt.
This is indeed the cancer that will eventually be repudiated. But when it is, expect THEIR side to hire squads of assassins, hitmen, sabateurs, etc. to mess things up. The sooner people begin to recognize the truth; that hoodlums in nice suits and spit spot shoes with fancy degrees from fancy colleges are running things, the better. You can't do a thing about any of theirs, you must think about joining together to issue your own. Understand though, they are the beast that rules and their taxes must be paid in their money. You can plan your eventual sales in Valuns and taxes in whatever the local currency and stay afloat. The Valun is designed to retain its purchasing power. But all money benefits from being used; circulated in trade.
Screw the reform, repudiate! and print our own interest-free currency.
We will repudiate in time, when our own is strong, viable and widely used. Since we're advocating an international standard, it would be the same around the world; we let THEM determine what THEIR money looks like in value to us. This is not only intended to be a parallel system, but also the bottom-most monetary system. You can buy in, you cannot trade out into any of THEIR currencies including precious metals. This provision literally makes money laundering through our system impossible. You can of course spend your Valuns for whatever is for sale in Valuns. The following quote was included and is retained:
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
I don't believe the system in place can simply be shut off and a new one introduced immediately. Things may be getting to the place where checks are simply outmoded due to plastic and things like pay pal but as things sit right now the check clearing is an immense task.
Yes, we know, but they have had the equipment for a long time. I have seen it. It is THEIR system. We could devise something better and easier. We start with a V-Check system (our cash) and develop a quicker system for personal check processing.
I would remind my good friend that there are many ethnicities benefiting from the banking system's usury. (Though an abundance of Jews are present). Also, the point I would make is that our everyday business which in most instances doesn't require a loan or credit to transact is in fact born in debt/credit because of the FED issuance of their currency. All I'm saying is we should ween ourselves off of the FED teat.
If we must do that, then we must walk out on much that they are having us do and paying for us to do it in THEIR money. So we begin to organize and develop our own money based on the proposed model, duly ratified by a properly constituted IVES. We don't ask, because what we are doing is our own business and our right as living breathing human beings, not their odious legal “dead bodies” created so to be bought and sold by gangs of speculators.
Open, public source, blockchain cryptocurrency fascinates me on many levels. Many signs point to the Single Source Planet overlords heading towards a (fractional) asset backed digital cc.
Again, considering their tremendous crimes, etc. etc. I could care less about their system. We must have ours when theirs fails. The transition will be far easier then.
Could we trust a web based digital monetary system? I see the internet as a very susceptible system to attack from unlimited sources such as the U.S. government, other governments, and countless hackers. I have already been made aware of many breaches at bitcoin. Though I admit that I do not know much about digital banking.
If money is only accounting then wont some internet platform do? Well what if there's no more internet tomorrow morning? What then? Who do you know around town that would vouch for you, know who you are, what you do, what you're skill levels and education really are, what you're really worth, what you want? You see why it must take organization, actually going about contacting people everywhere about this proposal?
Do like Iceland and cut the debt out of the equation.
This is what we do. First, forget, all of you please forget this concept, drop it from further consideration, to DEPEND ON THE STATE for a solution of any money problems and concerns because as Riegel famously opined, “Had the Constitution makers undertaken to invest Government with the money-issuing power, it would have had the same enabling power as if they had declared that it should have power to regulate the movement of the planets.”
We also have had occasion to redefine our terms as Riegel had to. He had to man up and admit that what the government was and is doing is counterfeiting money. THAT is why it ultimately fails. The fiat is OURS not theirs and cannot be voted or given away to anyone. It has been and is stolen. If you don't have that, what good is your freedom of speech, press, assembly, right to think or believe whatever you will, etc.? Well, you can't. So this pretty well sums it up by saying what all the moneyed classes down through time have insisted, “if you don't have the dough, you'll be shown the door.”
I too know less than nothing about bitcoin or digital, mark of the beast, banking. Nor do I wish to learn.
You're right, it's a filthy subject. All the blood of thousands of years of war is tangled up in it too. As we also say, nature may take its course (as far as THEY are concerned, meanwhile, we have to start taking ours.)
Agreed ... no problem. What about tracking checks ? Checks are run through clearing houses before they reach their final destination.
A personal check in the proposed VEN or Valun Exchange Network is (as in THEIR system where banks are identified) associated with the member's local independent exchange (IE). Checks are transactions cleared from the receiver's account. The check is deposited and the IE, wherever it is, is able to track the check back to the originating exchange by the numbers on the check that correspond to the IVES code: location designation system. Those transactions go onto a portable medium and are taken directly to the appropriate exchange for processing.
I believe the BTC breaches were from e-wallets or gatekeepers, per say. Hacking the blockchain algorythm would take 500 years! Well, the general population has to have a system that they can ALL participate in, not just GEEKS and puter freaks !
Emphasis mine! And here's a good place to remind you all that true value emanates from you and your fellow human beings not from things (silver or gold) or even from ideas. The income you are able to gain from your own efforts is your innate wealth.
The ideal (dream world) way to fix things would be for congress to say that "we really, really, screwed up in 1913 and we're going to abolish the Fed and resume issuing our own US currency."
A better dream would be where -when THEIR money finally fails- we decide which parts of the government WE will fund using OUR money and abolish all taxes that do not support paying US back in our money.
There would be some wailing and gnashing of teeth, but so what? It's what should be done to keep this raggedy ass country afloat.
I actually suppose there's far more resilience to the country than we suppose; a loose confederacy would suit everyone better, with far more local production and distribution, far more redundancy, more competition not less, perhaps more willing standardization of certain key parts and assemblies where that is possible. We want to foster a return to certain ideas that have been … brutally swept aside due to … lack of THEIR money, simple as that.
My post was suggesting a way to pull away from the Fed without collapsing the economy. No one hates the FED more than me. All I'm suggesting is to tell the Fed that we don't need their debt-money any longer and begin printing US Treasury notes (as Jackson, Lincoln, and Kennedy did); there would be NO economic collapse at all. No?
Wouldn't it be a good thing to have a lot of these people, tens of thousands, millions, signed up to earn Valuns along with their dollars? If you have that many Valuns out there, and we know what they are designed to represent and you can only buy one for what we say it's worth, not THEM, then they will eventually be respected
All I'm saying is that Joe lunch bucket gets a check and not everyone even wants a bank account or auto deposit or credit cards ... but they do need to transact business and there has to be a system in place to do it. The important thing is to remove everyday business from being considered commerce.
We need our own money to begin contracting our business anywhere we feel like it. The standard is the same for anywhere in the world where a local currency can price an oz. of gold bullion.
Even ______ had a checking account for cashing checks and for the transactions that he wanted to have a cancelled check for his records. You know how out of the system he was...RIP
… and more and more want OUT of the system but have nowhere to go. What? Do you suppose some little guy with a megaphone is going to announce from the edge of the auditorium for everyone to come next door he has it all figured out and waiting? This isn't “build it and they will come.” This is we build it and expect to use it knowing they and their solutions will never be ours. It's about taking an ownership position concerning something that's everyone's birthright.
My old man was a real cheapskate. He would never give my mom any money. Finally she got a job with the phone company doing "counts", which was listening in on phones calls and writing down information. I made my money on a paper route and playing the organ in church on Sunday.
In a local IE, mom and dad are over 18 so they join having been recommended by their neighbours who haven't spoken to them in 15 years because, well you know, people live separate lives. They go to a private location and there are given their account books and how many V-Checks make up V200. I don't know about earning Valuns to do a paper route but currier advertising is possible and any usual local chores. The Valun will be heavier than any currency so it is best to regard them with some respect when bidding for them. V2 usually runs between $5 and $6. But the important thing is that both mom and dad could have their own accounts, start their own businesses if they wished, etc. The basis pretty much allows everyone a fresh start. There will be credit clearing benefits too; the higher your rating within the VEN the more you will get to do. The following quote was included and is retained:
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
That said, it is long time past since this blog has called for greater community organization to bring about the proposal.
Money is just a handy bookkeeping system. Anyone with competence and integrity can issue money. If I'm making widgets and need labor and materials I issue widget entitlement notes.
What if the local grocer doesn't accept widget entitlement notes?
We could each issue something, but what would be its common reference? How would anyone accepting it know what it is or what they might buy with it? The proposal provides that basis and how to maintain it.
What if the local grocer doesn't accept widget entitlement notes ?
We see the advantage of the widget maker and grocer being members of the same local IE. Each IR issues a distinctive set of V-Check designs. There is a standard but within that standard anything is possible.
There was a town in Arkansas that was involved with the Liberty Dollar. You could go there and exchange your FRNs for Liberty Dollars and spend them anywhere in town. When you were ready to leave you could exchange your Liberty Dollars for FRNs and you were set. But Liberty Dollar is long gone now, driven out of business by the banksters. ;)
The biggest problem with “Liberty Dollars” is that they were called dollars. THEY own that name. This blog follows E. C. Riegel's designation of it as a Value Unit but proposes a different basis. We'll get into the basis of Value Units in a moment.
Kennedy did. I remember that. It was United States Notes. Doing that is what got him killed. But I know an old boy out here that says he was shot by accident by the Secret Service. Who know what the truth is. ;)
Ours is not to conjecture. As we say, nature takes its course, but we need to take ours. If that means walking out on them en masse, then that's what it will take. We don't have much time as they are in the process of destroying the biosphere in which we all live. It's THEIR money, stupid! Not yours. You need yours, and the only way you're ever going to get is to organize with everyone you know or those you don't know, operating as a chain letter, to be willing to accept, use, earn and save Valuns.
CC [community currency] is finite, needs no government, central bank nor regulation. As of now all that I know of are private or even publicly traded but not controlled by a government. I am sure though that the spooks probably are behind one of them, that's what they do.
Spooks, kooks, I don't believe in spooks. We're all intentionally led to aspire to the grandeur of doing whatever we want that these people supposedly have as a lifestyle. But all true spooks are under THEIR pay. Oh, they may take their pay in other tangible valuables, but it is still THEIR pay for THEIR purposes -and might die at any time as they are expendable. But THEY stand on a pedestal with a thin stand that is due to crack under the strain of their overbearing proportion of the world's financial wealth.
Tell me now, step away from it all, take a good look at yourself in the mirror. Go ahead, I'll wait. Who decided what was the basis of value? Of YOUR value? Of YOUR worth? Did you? Did they who have most of it decide for you? You begin to see how these are irrelevant issues for doing anything constructive about it. No; the only way forward is through truth; observation and understanding.
The proposed international standard Value Unit (Valun) – exactly as measures of weight, distance, velocity, electricity, motion, etc. are as constant measures understood – is based on a transaction in time not a quantity of tokens or accounting credits.
This is best understood as a historically established quanta of purchasing power that has a comparable present value in THEIR money determined by THEIR speculators. At the proposed inception date; 11/02/2011, this quanta was $2.16 but today (7/27/16), it is $2.67 because THEIR prices for THEIR precious metals (their oldest brand of money) is lower than at Valun inception. The inception date is deliberately chosen to be both easy to remember and close to the all time top for gold prices.
The proposed Valun is designed to retain its fair trade purchasing power. This will be enforced by every IE that may take local currencies presented to them by their members only, not the general public, in exchange for Valuns. These currencies cannot be held on account or in any other way by any IE; they must be immediately traded for gold and silver at current prices in each region. This is not a goldsmith's backing scheme (scam) at all. The precious metals belong to the collective owners of each IE. Who owns each IE? The A members who each have a vote to elect managers, etc. The precious metals are used as a buffer between their money and ours. In case of taxes and other lawful expenses, those stores of precious metals exist for their members to clear those that occur. However in trade we caution all our members to take in local money for taxes and Valuns for their added value.
Just because we allow the poor to issue their own Valuns doesn't mean that the amount will ever be very significant. By far the most Valuns entering the system will be because they are generated from all work represented by our proposed standard parallel labour contracts. These simple one page agreements pay Valuns on each specified payday; as one is paid in dollars, pounds, yen, rubles, whatever, they would also be paid in Valuns.
Though we acknowledge that all money transactions ultimately reside on written ledgers; the books of the IE, that the members will want some tokens to use to represent them. We have deemed that a private check, honoured and recognized within a private trading community, similar to a traveller's check, with a fixed expiration date would serve the purposes of cash very well. The proposal we called a V-Check. Each would be issued from a local IE with its own design. The reverse side would contain a frame indicating the number of Valuns the V-Check represented and inside an artistic advertisement for a local member business. These V-Checks could circulate up to six months from issue. Upon expiration, each V-Check could be either 1) deposited or 2) replaced. It would be our intention to promote their use by eliminating the usual transaction fees for using them. Transaction fees would begin with a trial of 1/10 of 1% of the total, paid by the issuing account. If Smith and Jones were A members and Smith bought a nice pair of shoes from Jones for V10 (ten Valuns = $26.70 -7/27/16), he would pay Jones in V-Checks. When convenient, Jones could return any expired ones to his local IE for deposit or replacement.
A V-Check would obtain its validity on the day it was acquired for Valuns in an account. Each V-Check has a unique ID and is given an expiration date. The unique ID is paired with a member account to create the transaction – removing money from a member account and tendering cash in the form of V-Checks to the member. At this point no coins can be minted and nothing of similar or smaller denomination to a dollar is generally permitted. The smallest proposed V-Check is the Half Valun. The ½ Valun can never drop below $1.08 by design.
We will want V-Checks that can withstand washing machines. They have to look good, better than anyone else's money. They have to have the IVES symbol (a round rock with the letters IVES upon it). Numbers and expiration date cannot be easily effaced. We doubt our members would do anything like this. We believe knowing where this money comes from will breed more respect for it over time. We hope the time is short.
A future paper will cover cost accounting fundamentals that can be used to get better results using the proposed Valun.
Current Hypothetical Value of a Hypothetical Value Unit