¿What will be the Currency in an Equal Money System?
There will be No Currency in the Equal Money System – here are the reasons why.
Let’s look at the properties of ‘currency’ which are:
medium of exchange
unit of account
fungible: each unit is interchangeable
A store of value over long periods of time
Equal Money will Not be a currency because it will function according to credits that will have a ‘one-way use’ – meaning, the credits you get let’s say to ‘get food’ corresponds to that part of the resources that is given to you as your living-condition within the Equal Money System in this world.
– It won’t be a ‘medium of exchange’ as exchange implies bartering wherein there is already equivalences created through equating let’s say a dozen of eggs to a kilo of potatoes which generates – yet again – value-systems wherein even if ‘money’ is not used to exchange products/services, values are generated for the sake of creating an “equivalent” which doesn’t actually exist in the correct sense of such word unless the value of money becomes life itself which does exist in Equality.
With money being based upon life itself – meaning equal to/one with everything/everyone that is here as this world – there will be no need to ‘exchange’ as no one owes something to another that owned it first. Let’s remember how the I.O.U’s were the initial steps towards the current money system based on the banking system in this world which exists upon the profit created through interests according to the aggregated value to such capital-lending option according to a single agreement on ‘what value’ resources have.
– In terms of being a unit of account – the only accountability that money will be endowed with in the Equal-Money System is the equivalent to giving to another the living support in equality as being an equal participant in the system. As redundant as it may sound, sometimes the word Equality is not properly understood – therefore we make sure its is clear from all angles and perspectives.
– It will be portable in the sense of being contained as information in a banking card that we can carry with us initially – just as we do nowadays – though, it won’t be transferrable from person to person. There will be no need to give your assigned credits to another because the ‘other’ person will also have their assigned credits – there is no point in giving to another what he already has been given unconditionally in an equal manner – that’s the basic principle within the Equal Money System, hence consider how this single fact will affect the human condition that we currently know.
– It won’t be ‘durable’ any more than its designed lifespan to fulfill its initial purpose and reason of existence. This means that it won’t last more than the interim moment from having such credit available in your card, which will prevent the accumulation of ‘power’ as a’ ‘surplus of money. In other words, it won’t ‘store value for long periods of time’, it simply won’t be necessary as such accumulation of ‘power’ as ‘money’ leads to the creation of capital which is what eventually creates the fictional wealth stored in as owning/ private property and the physical/electronic named-value where gold, silver or anything else for that matter that has been bought with money stands for. What happens is that in the long run, such surplus and savings that not everyone is able to obtain currently, becomes part of an inversion that generates ‘more profit’ according to its usage in the current ‘laws’ within this system. This is for example investing such surplus in machines to manufacture clothes – this capital then is ensuring that the owners of the ‘means of production’ are able to generate more money in the long run. Then being able to ‘buy slaves/ work force’ to produce comes into play as part of the need of others to make it work, which is how Marx would see the functionality of the system disregarding that the very accumulation of money can be stopped if money is simply given to everyone equally as a means to obtain that which can be given to all Equally in a periodical basis wherein there is no need to ‘keep savings’ as everything will be a consistent and constant point that we can trust on.
-The property of division stands within the physicality of money and how it currently exists as paper/ coins. In the Equal Money System there will be no physical money hence there will be no need to trade coins/paper. See how division can be related to the word ‘share’ though within sharing in this case still indicates a point of possession instead of simply distributing as in giving to all equally.
– It will be fungible as each credit will be the same unit for all.
– It won’t be ‘a store of values over a long period of time’ as this is what has enabled the current capitalist system to continue, by having that initial accumulation that lead to ownership in relation to the rest of the population and within that, creating and ensuring that such value would remain as ‘wealth’ growing and growing as such inversion is then sought to be reproduced – hence becoming more and more profitable through more exploitation of people and resources . There will be no banks as such, hence no accumulation of money will be possible within this.
Accumulation entails inequality as ‘power’ over others, as ego-boosts, as methods to continue abusing and subduing people to ‘do as we want’ because of being on the top of the food chain through such ‘accumulation of power’ through money as it currently exists.
The pivotal point in an Equal Money System is to give what you would like to receive and the Resource Distribution System which will be able to distribute/track/manage such credits, it will only be system that monitors and distributes resources to every person equally.
And last but not least, let’s be aware of how the current disparity between currencies in the world indicate one single thing: the power of one nation/ economic-block over another which equates to the amount of abuse and subjugation implemented for the sake of stealing from others to increase the power within their nation. This then places the spotlight on the self evident fact that Great Britain has been the most abusive in the world throughout human history since the creation of money/ wealth as part of the determining factor that gives value to the currency used in such nation.
For instance, the disparity existent as ‘exchange rates’ between first and third world countries is a vivid example of how the physical world as the resources and everything else that is here is not being considered as equally valuable, they are placing value on to things according to created laws of ‘demand and supply’ amongst others which later on determine the exchange rate of each currency; instead, they are at the service of the interests assigned, placed and studied through the current economy as we know it which is plain to see, it’s not best for all.
This can make it clear how Equal Money is not about ‘money’ per se as it’s currently understood, but about establishing and implementing the Principle of Equality as Life through a stable, constant and trust-worthy system that can be applied at a global scale.