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The real 'value' of money

When we are compelled to use a currency using such violent means as legal tender laws, latterly money transmission laws, taxes, bailiffs, and the throttling of alternatives, it hardly matters where the money gets its value, or if it has value at all. The 'value' of the dollar tends to mean its price expressed in other commercial credit currencies, but the real value is what the paper represents, what justified its issue.

The emission of money is always complemented by an equivalent value exchange somewhere in time.

  • When fiat money is created, the issuer is effectively taking spending power out of the economy and giving it to themselves.
  • When debt money created, the issuer is promising to deliver value later on.
  • When commodity money is created, a commodity goes into safekeeping and the money goes out into circulation as a proxy for it.

Everyone who gives goods and services in exchange for these money is affirming whatever act of value creation which emitted the money.

  • When you 'repay' a kindness with a kindness, you give value to the initial act of kindness.
  • When you attempt to pay someone with your local deli-dollars, you give value to that delicatessen and to its investments.
  • When a person or community earns and spends US dollars, increasing first the demand then the supply, value is given to the acts of violence, fraud and theft for which those dollars were issued.

Money issuance reveals a lot about what a society values; centralised authority, empire, growth, investment, profit etc.

The monies of the New Story, will represent very different values. Rather than being a carrot and a stick to coerce the powerless into working for the powerful, money might be an acknowledgement of beautiful acts, of solidarity, or unpleasant work voluntarily undertaken. We can start by valuing these acts now. It is very simple to make a transferable certificate and award it to someone who has done a valuable act. Then by including these acknowledgements in your transactions you are giving value both to the original act and the transaction - a value entirely unrelated to the monetary flows which may also comprise that transaction. I call this a 'recognition' or 'acknowledgement' currency

When I'm on the roaad I give Perception Dollars to those who help me along the way. Many people initially refuse, mistaking them for money which would sully their generous intention. But I show them it is a reciprocal gift, not a payment. Perception dollars make ideal gifts, and they always come with a story (i.e. this barefoot freak gave it to me when he asked for directions) I've never yet heard of them circulating after that. Most people covet them enough at least to stick them to their fridge. Now I give them away two at a time, one for the fridge, one for a gift.

Recognition-for-beautiful-acts money is unlikely to supplant Recognition-of-banking-sovereignty money any time soon, but we can better recognise, honour, value and repay beautiful acts

What happens when we scale up these currencies? More tomorrow...

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