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New Money or None – which do you prefer?

July 26, 2013

We now live with metaphysical/virtual money. Our dollar is now a mental abstraction – a metaphysical unit. This means that we need to think in terms of either ‘new money’ or ‘none’. Let’s review a few of the proposals that are currently being offered by patriots who desire meaningful change in the near future. There are three proposals for ‘new’ money and/or a new monetary regime which I am aware of. All these proposals are getting media attention to a degree. These proposals are from Steve Forbes (financial pundit), Dennis Kucinich, (politician), and Lewis Lehrman (academic thinker). Let’s briefly review each proposal:

1. Steve Forbes:  Steve thinks that our dollar should be tied to gold to provide the consumer with a ‘measure’ of value that is predictable. He refers to ‘time’ as measurable as each hour has 60 minutes. He refers to a ‘pound’ of hamburger as measurable as each pound measures 16 ounces. He refers to a ‘foot’ as measurable as each foot is 12 inches. Why shouldn’t our dollar also be a measure of value that is basically constant from day-to-day? Steve’s logic seems sound on the surface and if we go back in history we can support this idea with similar logic and reason. Basically, Thomas Jefferson and Alexander Hamilton would buy into the logic of Steve. Today, our ‘dollar’ has no anchor and is ‘no thing’ (merely a unit of the mind). This makes for huge volatility and huge distortions in ‘value’. Emotions and subjectivity tends to rule over finance, trading, and monetary policy!

2. Dennis Kucinich:  Dennis has a bill which has been presented to our Congress called the NEED ACT (HR 2990). You can watch this video for understanding of this proposal:  Basically, Dennis wants the Fed to be merged with our Treasury and then allow the Treasury to ‘spend’ money into circulation for infrastructure and other needs of the government. Basically, he does not like the Fed as the decision-making source for economic events or monetary policy. I have read his proposal, which is also the proposal of the American Monetary Institute, and it does not appeal to me as a sound option. You can read the Act and listen to the above video for your own conclusion.

3. Lewis Lehrman:  Lewis has a website called The Gold Standard Now. You can visit his website and philosophy here: I have followed the philosophy of Lewis for some years and his view is that our current monetary system is basically Unconstitutional and not in accordance with Article I, Section 8. This Article states that Congress shall coin our money and regulate the value thereof. This means that a weight of silver and/or gold must be the standard and measure of value for our dollar. Lewis desires that we return to Constitutional money and a gold standard similar to what we had from 1792 to 1914. I assume that Lewis would also support a silver standard similar to that in the Coinage Act of 1792. This standard defined our ‘dollar’ as 371.25 grains of pure silver. Coins were then minted to reflect this definition and regulated value.

The above three proposals are now being promoted by groups who support the underlying philosophy of each proposal. My question today is the following:

Question:  Since we now are experiencing a metaphysical monetary system globally, is it time to think in terms of NO MONEY? Our current system is basically ‘imaginary’ and within our metaphysical MINDS. This means that it is equivalent to NO SYSTEM. Historically, we have always had PHYSICAL money (silver, copper, gold, paper, etc.). Today, we have VIRTUAL money units derived from our Central Banker’s metaphysical consciousness. Money is essentially created/derived ‘out of nothing’ and typed into our computer screens as virtual digits. This makes our money totally psychological/virtual/metaphysical. We could say that our money is equivalent to NO MONEY. Would it now be better to eliminate all money from this planet and solve our economic problems with PEOPLE?

Willard Cantelon’s book is Titled “New Money or None”. I read this book in the 1970’s. This book proposes that money will evolve into computer digits and then money will die and be eliminated. Quite a good read!

People can solve problems (voluntarily) if they desire to solve problems. Life is made up of all kinds of problems. As human beings we can directly solve our economic problems without any MONEY if we choose. The issue is what will work best after our current non-system collapses. Give these proposals some reflection and serious thought. New Money or None seems to be the options we face going forward. Enjoy! I am:

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