SCHOLLARS ISSUED EXCLUSIVELY BY TIMEBASEDMONEY AND/OR USAv2.o ARE THE ONLY CURRENCY IN THE UNIVERSE WORTH YOUR TIME!
SCHOLLARS ISSUED EXCLUSIVELY BY TIMEBASEDMONEY AND/OR USAv2.o ARE THE ONLY CURRENCY IN THE UNIVERSE WORTH YOUR TIME!
time x money
Using next-generation technology, I created a business plan for Schollars: access here.
Super-Executive Summary: NOBLE GOAL BUT UNLIKELY
MONEY X TIME = SCHOLLARS
Imagine an internet where you are not overloaded with ads, your privacy is not pimped out, and you aren’t even paying to subscribe… The internet will be monetized by default employment through lifelong learning… by TimeBasedMoney and/or USAv2.o.
The internet’s infinite compensated-learning strategy will free each individual to make their time endlessly more valuable with Schollars.
Schollars are living-time-based Digital Money issued exclusively to human beings who identify as a self-declared Homo Rex species in exchange for their SPENT and LIVING time.
-
Schollars are issued directly, tax-free to their creator.
Principle: All Men are created with equal access to earn tax-free capital.
Product Benefit: Efficient and fair distribution creates greater value than bank-issued, fiat currency.
-
Schollars expire when their creator dies.
Principle: Life belongs to the living.
Product Benefit: Natural-limited scarcity drives the Everlasting Economy.
-
Schollars are digital and secured on the blockain.
Principle: Paper money is revolting and driver of criminal behavior.
Product Benefit: Security and Trust.
-
Schollars are integers only.
Principle: Fractions are confusing. The ease of transaction is of extreme importance in the Everlasting Econ.my Following Occam’s razor: “Entities should not be multiplied beyond necessity.”
Product Benefit: Simplicity.
-
Schollars work for World Peace.
Once established as the reserve currency of the human species, Schollars cannot be earned by citizens of a nation in armed conflict with another country.
Principle: World Peace is achievable through economics.
Product Benefit: Prosperity incentivizes World Peace.
Your Schollars are coming!
Your Schollars are coming!
You are exchanging your time for Schollars right now.
MONEY X TIME = SCHOLLARS
Schollars are digital time-based money issued by TimeBasedMoney and/or USAv2.o and exclusively coined to successful members of the Homo Rex human species. Schollars are an encrypted store of your value. They are precious: Schollars die when their original earner dies. You can’t take ‘em with you when you die, and we can’t keep ‘em either.
Schollars are currency innovatively designed to inherently make you and our species more perfect and prosperous every minute. Dying is for losers.
Homo Rex are the Champions of the World
Schollars are the proof!
You are exchanging your time for Schollars right now.
You are already earning Schollars. 10 Schollars per hour. The same buyout rate of pay for everyone, until after the Great Buyout. You are already earning Schollars. The dollar is dead because it has no long-term value because Schollars will never be exchangeable with dollars or debt-based currencies.
We are all created equally with Schollars, but we came into this world at different times. This is economic justice. For practical purposes, your time cannot be double-dipped. After the Great Buyout and default eduployment is the new status quo, your pay rate, your swage, will be recalculated. You can then exchange your hard work and cooperation for guaranteed increasing higher pay.
Schollars self-destruct when their creator dies, but there’s another hitch: fresh Schollars do not fund armed conflict. The members of a nation in a state of war with another nation cannot originate Schollars during wartime. Politicians and rulers have forever used the sacrificing of human lives during war as an economic driver, which stops with the Schollars Revolution. World Peace cannot be forced, but war can be disincentivized. Schollars are an economic reason for Humankind’s Central Bank client-owners to overrule the whims of the politicians and rulers who want war. TimeBasedMoney loses revenue when any shareholders die, war costs us profits.
Schollars are living-time-based Digital Money issued Exclusively to human beings in exchange for their time
Get paid for doing the right thing, fund your community, and auto-invest for future generations, all at once for your successful living:
1. Swage starts with age. This guaranteed annual raise is meant to create the most-essential economic incentive for you to live longer. This is how the world operates already, as greater compensation is usually given for more work experience. Schollars are based on fair distribution and equalizing access to earn capital, not that everyone gets paid equally.
2. Education is the greatest investment. Permanent raises are given for earning degrees and certifications. This is how the world operates already, as the earners of higher and more specialized education are usually rewarded with more opportunities and higher compensation than those without degrees. Students are risking their time and risking current earning power, to go into temporary debt so that they will hopefully earn a higher income after they graduate.
3. Health is real wealth. You should get paid more to be healthier because it is economically beneficial to the economy to have a healthier workforce. This will be harder to implement but will be worth it. Although less common, good employers monetarily reward employees for their good health practices. Insurance costs are higher for smokers than non-smokers. Being healthy and strong allows you to make more Schollars for a longer time, which makes TimeBasedMoney more profitable.
Limitations to Schollars
1) Human beings only have 24 hours in a day.
2) Interest cannot be earned on Schollars. Schollars cannot be traded for fiat debt-based currencies, and cannot be traded for alternate currencies until fiat debt-based money is destroyed. Any interest is usury. Debt-based fiat money has no value, your time does. Cryptocurrency might have value later, the free market can decide after debt-based money is destroyed.
3) Schollars self-destruct when their creator dies. The money created by the deceased is uninheritable. Dead people’s money doesn’t matter.
4) Fresh Schollars do not fund wars. Citizens in a country in declared war or armed conflict cannot earn fresh Schollars. Our client-owners can complain to their politicians, not to TimeBasedMoney. We are in business to promote and profit from world peace. TimeBasedMoney disincentivizes human death.
5) Schollars are integers and never fractions. Schollars are whole numbers, just like you are a whole person and not just a fraction of a person that can be divided and auctioned for spare parts. Fractions are confusing and time-consuming, but that’s why bankers and politicians love them. Pay for your loan with a just fraction of it as interest and pay the government just a fraction of your income. Bankers love fractional reserve banking, that’s how they invent money and make revenue. You can earn and start accumulating Schollars in less than whole amounts, but Schollars are only cashed out and issued in whole numbers. A Schollars can never be divided. Schollars are designed for simplicity, convenience, and efficient exchange. No calculator is necessary. Your time is too valuable to waste worrying about fractions of money, decide on what you are spending these Schollars. Prices must be in whole numbers. Schollars are whole or they do not exist. A Schollar is only and will ever be a Schollar.
Schollars are the tool that allows TimeBasedMoney to provide default-but-excellent employment opportunities through lifelong learning.
The ideas behind increased compensation for more experience, educational achievement, and promoting a healthy workforce are already in practice by employers today— TimeBasedMoney grants access and give an opportunity for employment to everyone and everywhere. The internet gives us the privilege to work from home, or anywhere in the universe with an internet connection. Virtual employment allows us to outsource the environmental and in-person costs of employment to you. You are responsible for providing your workplace and devices.
TimeBasedMoney: We want you to work for us All the Time, anywhere and everywhere. But that’s your choice, No hard feelings.
Schollars can bring the end of unemployment and poverty by giving the right to create and earn original currency to each and every human being. Schollars can bring world peace by uniting the human race to live in a civilization that values each other's time above all else. Schollars will create the Everlasting Economy; our reality will shift to a civilization that treasures present and future human life and exists to extend our lives as long as possible. Where you were born or what you look like is irrelevant to earning Schollars.
Schollars will compensate the individual for their productively spent time, fund the present without income taxes, and guarantee investment for Future Generations, as each second ticks off your new life.
The differentiator is that Schollars have no dollar cash value and are not exchangeable with any other currency while fiat money exists. TimeBasedMoney conquers all other monies because we treasure human time first, we do not cooperate with other money. All fiat money is inherently worthless and incompatible with Schollars. Schollars will not prop up, compete with, or cooperate with fiat money. The United States dollar must be replaced or made irrelevant.
Schollars are jealous money. Schollars are not exchangeable with fiat currencies and cannot be exchanged for other currencies while fiat money exists. Dollars and other debt-based money must die for Schollars to be brought into existence. Schollars are not an alternative currency, Schollars are the paramount currency.
There is a whole new world to build and an entire universe to exchange and successfully live in.
Homo sapiens couldn’t live forever. Homo sapiens will never be allowed to touch or transact with Schollars.
To earn and create living-time-based money is the most fundamental and fair right of all human beings.
All men are created with equal access to earn capital.
Your Schollars are coming!
Your Schollars are coming!
Dollars must be destroyed for Schollars to be created because Debt is immoral and inefficient. Debt is a remnant of a previous barbaric civilization. Debt must be erased and banished. Schollars are living time-based money that is the upgraded replacement for fiat’s debt-based money. Schollars are not alternative money that is a tool to store cash or to serve in the continued tightening of debt’s strangulation of humankind.
“If it is asserted that civilization is a real advance in the condition of man—and I think that it is, though only the wise improve their advantages—it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.”
SCHOLLARS
Exchange the past.
Earn, Spend, AND FUND the present.
AUTO-Invest FOR the future.
Schollars steal from debt-based money’s convenience and crypto’s blockchain to make common sense money.
Fiat (US Dollar and other debt-based money)
Purpose: To power A Productive Economy for People to serve in
Fiat has created a productive but flawed economy that employs many people: It’s convoluted, but it works because humans essentially trade their time for labor and production. There is inequality but the economy generally employs enough people to prevent revolution. The economy picks up steam when more money is spent and exchanged and borrowed, not saved.
Basis: Credit
No actual basis other than some authority says so. Modern fiat money is debt-based, a promise to repay, based on the reputation of the issuer. A nation’s money is a promissory note to pay someone back, an IOU. The value is dependent on its ability to repay its debt, the productivity of its citizens, its natural resources, and reputation are the collateral.
Issuing Authority: Central and Decentralized
The Federal Reserve is the banker’s bank, bankers with $1 of money can then turn that into $10 worth of loans to organizations and individuals, plus interest.
Where does it come from?
Made-up currency with no real basis except a promise to repay with interest. Money is invented from thin air and then circulated to banker buddies, then this money becomes the debt of the United States government. These banks invent more money through the magical privilege of fractional reserve banking. A business or individual agrees to take a risk and takes out a loan that they have to pay back in full plus interest, while the bank only needs 10% of that money. That is how the money supply grows, this is by design. Summary: Money gets invented out of thin air, bankers fractionally loan it out, and the end-user pays the retail price plus interest.
Inherent Value: Proof of Authority
Fiat money’s value is that the federal government uses its authority to make its states, subjects, and businesses pay their taxes with it.
Monetization: Productive citizens
Nations use National Debt and their productive citizens and natural resources as collateral for their made-up money. The national debt can be divided by the number of citizens to show that our lives are already monetized.
Limitation to Issuance: Guessing Game
Determined by human judgment in the attempt to control the economy. Money can be counterfeited.
Investment Status - Risk-Free?
Buying US treasury bills are considered as close to a riskless investment as there is because the US has always paid back. US Treasury bills are nicknamed the risk-free rate, low but stable returns. Fiat money is not much of an investment, its value is in being excellent as a medium of exchange.
Exchangeable for Other Currencies? Yes
Cash is exchangeable for everything, whether legal or on the black and grey markets. Revenue can be generated through currency arbitrage, from buying and selling of different currencies.
Mysterious? Sort of
Fiat currencies are created through the power of authority. Sure there are many conspiracy rumors, but those original federally reserved dickheads are dead and the squared power of incompetence explains the idiocy of today’s money supply. It is designed to be boring and disguised as an asset for asset swap. Make a convoluted system so that its inherent unfairness isn’t questioned, just accepted.
Environmental Friendliness
The printing and issuing of fiat money is not an environmental concern, but the endless chase of repaying debt and interest by stripping the resources and polluting Earth has led to our current environmental crisis. Destroying Earth’s resources to make money, although necessary for human progress, has been a business model for too long.
Destruction: It’s Just Paper
Dollars only die when the paper is lost or destroyed. The economy has little or no care if someone dies because the digital or remaining physical money from one generation just gets passed down indefinitely— after the government takes its cut of taxes first.
Thievery: Oh Yes
Besides the actual acts of stealing and robbery for physical money, the amount of crime and dastardly deeds because of the lack of money has plagued humankind for ages. Scams are constant.
The penalty for committing a severe crime is being sentenced to prison for an amount of time. The perpetrator has their time taken away from them. The greatest penalty is to have the criminal’s time taken away and given to the State.
King Status: Yes, Cash is King
Cash rules everything around me.
Verdict: Kill the Dollar
Fiat currency works okay as money and a medium of exchange. The economy mostly works as it is reliant on employing human time for money from an employer, which is then exchanged by the person for goods and services from businesses. However, due to how fresh money is distributed, poverty, unemployment, strife, and mass inequality will forever exist. Since the very basis of fiat is credit, it means that human existence will forever be in debt until it is destroyed.
Cryptocurrency
Purpose: Internet-Based Alternative currency to Fiat’s debt-based money
The best cryptocurrencies are created in an attempt to solve the problems with fiat currency. There’s a market for alternative money because there is little public trust in government today.
Basis: It’s complicated
Not tied to anything of value in the real world, making it better than debt as money.
Issuing Authority: Decentralized
Purposely decentralized.
Where does it come from?
Generated by algorithms, from software code, and digitally mined by robots and computers.
Inherent Value: proof of work
Crypto requires an arbitrary “proof of work” or some other proof to show that it’s not made up like fiat money.
Monetization: Hope to resell
The rush for cryptocurrency is to get it for cheap or nothing, then find a sucker to buy it from you for a higher price without being stuck holding the bag. “Mining” for crypto is not much different than mining for gold and hoping to strike rich. The Gold Standard was rightfully eliminated, finite commodity money isn’t any solution when there are 8 billion people trying to exchange their time for money.
Limitation to Issuance: Arbitrary
Scarcity is determined by the creator of the currency. Some have an arbitrary limit, making it more of an investment vehicle than useful money. This can be countered by using fractions of crypto.
Environmental Friendliness
Bitcoin is not, but other cryptocurrencies can be.
Exchangeable for Other Currencies? Yes
Crypto can help secure transactions. Money is made through buying and selling of different currencies. Trading one cryptocurrency for another is a taxable event: crypto 1 is sold into fiat currency, gains are taxable, then that value is used to buy crypto 2. Fiat money wins with crypto exchanges becoming even more powerful because it earns tax revenue. However much someone accumulates cryptocurrency, it is still measured and taxed in dollars.
Mysterious? Sort of
Cryptocurrency can be confusing and designed to be uncrackable, but that makes it exciting too.
Investment Status: Gambling
Volatile and risky. But once mined, can be sold at a higher price. It is a gamble, bet your money on the best crypto.
Thievery: Much Harder to do
There are crypto thieves and crypto is designed to be extremely hard to steal, but fraud will always exist with debt and crypto money. As cryptocurrency becomes more valuable, the incentive for thieves and frauds grows.
Destruction: It’s Digital
Cryptocurrency can be lost or stolen, but once created then it can live forever in the digital world. They can be passed down forever from one dead person to an alive person.
King Status: Servant to Fiat Money
Cryptocurrency’s value is determined by how much someone is willing to exchange their fiat money or another crypto for it, which makes crypto just like everything else. Selling crypto is a taxable event. This makes crypto no different than an employee in a debt-money-based economy.
Initial Verdict: Crypto is Okay
Fiat money has monetized crypto. Crypto is fine as an alternative currency to store fiat money and can be an investment, but crypto works for fiat money. Crypto has not shown itself to be a replacement for money, it is just a tool that strengthens fiat money. Crypto offers lessons and technologies that will help make a better form of cash.
I don’t like that crypto comes from computer processing and mining. Another problem with cryptocurrency is its arbitrariness. I am not interested in currency because it is not fiat money. It has to be better than fiat money to get my attention. I like long-term investments that make progress, as great businesses can. Long-term Investing in the S&P 500 is investing in America’s progress, and investing in crypto’s technology is investing in progress. Buying and mining crypto to flip it at a higher price is gambling, which causes booms and busts. Cryptocurrencies could be valuable if fiat money dies, but debt-based fiat money will never die, unless?
Maybe a new cryptocurrency comes along that is time-based and easy to earn, and you decide that you won’t ever sell for cash and don’t have to worry about taxes, but would you trust a crypto company that is not client-owned and does not offer dividends? Besides, whoever inherits that crypto will have to pay taxes when they sell it, the house always wins.
If Schollars don’t kill fiat money, then digital fiat money will just steal the lessons and technologies from cryptocurrency to further strangle debt around the Earth. With crypto, the status quo continues.
Schollars
Purpose: To power an Economy that is a servant to productive people
By placing its store of value on the earner’s living time, humans use Schollars as a medium of exchange in an economy that serves to enhance and extend the amount of time each of us possesses in our lifetimes. Default employment and no debt will enable high consumer confidence, encouraging the spending of money and investments in the private sector, and that is how economies boom.
Basis: Living-Time
Living time-based digital money that created when human beings exchange their time and attention for Schollars. The binary value of each Schollar is pegged to the existence of their original creator.
Issuing Authority: A Centralized coiner that issues direct to the earner, anywhere in the Universe with wifi.
TimeBasedMoney is Humankind’s Client-Owned Central bank that exchanges new money for the earner’s time and attention.
Where does it come from?
Original currency is issued directly to the human being in exchange for their time spent learning. Schollars do not care about race, gender, or geography.
Inherent Value: Proof of Successful Living
Schollars are a medium of exchange for a human’s stored value.
Limitation to Issuance: Living Time is Scarce
Schollars are limited by the number of living human beings and their 24 hours a day.
Investment Status: Money Made To Invest With
Earning Schollars is an investment in yourself, but holding Schollars is not an investment. Schollars are an incredible medium of exchange that became possible because of the internet. Schollars are interest-free. Schollars are money that is used to exchange goods and services, and to make investments. Your life is your greatest investment. Holding Schollars is not an investment strategy, earning fresh Schollars is an investment strategy for individuals, and exchanging Schollars for goods and services is a business strategy.
Limitation to Issuance: Living Time is Scarce
Schollars are limited by the number of living human beings and 24 hours in a day.
Exchangeable for Other Currencies? No
Schollars are not exchangeable for other monetary currencies, as long as fiat money exists. Schollars are not a commodity to buy and sell, they are designed to be the ultimate medium of exchange.
Mysterious? Nope
Schollars are exchanged for spent time and there is a simple algebraic formula to their creation.
Environmental Friendliness
Must be. It is in the financial interest of the economy to ensure sustainability. The adoption of Schollars can jumpstart the rescue of Earth. The economy cannot afford to let humans kill their planet.
Thievery: Remove the Incentive
Schollars accept the truth that there is no stopping a determined, talented, and incentivized human being. But what Schollars can do is remove the appeal of stealing money. The incentive to legitimately earn Schollars for the rest of your life is so great that it doesn’t make sense to take such a short-term risk to steal and be punished with the removal of Schollar privileges. Plus, blockchain technology will allow Schollars to be trackable and erasable. It is in the best interest of Schollar user-owners to ensure that it is a secure and safe medium of exchange.
Destruction: A Precious Commodity
When the original creator of a Schollar dies, the digital currency disappears forever. When you die, the economy suffers. This incentivizes an economy that needs humans to live longer.
KING STATUS: SERVANT to You
Schollars are a tool for you to have the power to begin the world new again because your living time is the most valuable and profitable resource of and for all time.
Verdict: Schollars are Next-Generation Currency
A more equal and just world that eliminates the great scourges of existence: unemployment, poverty, and a lack of purpose. A more educated society is incentivized to grow the human race in population and location.
Great artists steal, Schollars are a masterpiece. Schollars steal from the good parts of fiat money and crypto. TimeBasedMoney.com uses the internet to create an encrypted stored value of an individual’s productive time that provides default employment, funds communal expenditure and makes an automatic investment in the future.
Schollars are incredible, but the economic force flowing up from money’s creation will truly be transformative.
Dollars, debt, and interest are the destroyers of this world and their unjust method of distribution is the cause of many social and environmental problems plaguing society. Schollars aren’t compatible with fiat money. Cryptocurrencies are a shelter for dollars, crypto work for dollars. Schollars will not strengthen fiat money by being exchangeable for fiat money. Fiat is inherently worthless, so their sacrifice is symbolic but it must be done. The status quo must go if you want your buyout.
Final Verdict: Crypto Are US Dollars by another name. The House Always Wins
Everything crypto is still measured and valued against the dollar and transacting is a taxable event. Cryptocurrency isn’t a replacement, it’s a servant for the US Dollar, the reserve currency of the world.
Schollars don’t fix anything on their own— Schollars are money and money is just a medium of exchange. You decide what you exchange FOR. ideally. The accessibility of Schollars allows the individual to better spend and invest in the organizations and Products that are most deserving of their money (life) in the free market. Schollars are a resource for organizations with the expertise and ability to solve targeted problems, which is the purpose of capitalism.
Schollars will power the Everlasting Economy
Schollars are living time-based money issued directly to the individual, then they exchange their money for goods and services. Schollars are the opposite of the US dollar’s indirect and trickle-down DUMMY design. Schollars will create a flowing up economy that starts with the greatest natural resource: the infinitely appreciating value of a living human being.
Schollars are the foundation, but the economy that comes chasing after those Schollars will bring the enhancement and extension of human life. World peace, ending poverty, Space Colonization, decarbonization, and fighting Earth’s climate change are excellent and necessary investments and just good business, once money is representative of human lives.
AMAZING THINGS HAPPEN WHEN PEOPLE ARE PAID FOR THEIR WORK AND COOPERATION.
Intelligently Designed Money Births the Everlasting Economy
The Economy Needs You
Schollars are the ultimate tool to fight death because it makes your life critical to the economy’s growth. Schollars disappear when their original earner dies. The Everlasting Economy can perpetually grow due to new and aging human beings.
Humankind’s Central Bank has a fiduciary duty to help you live as long as possible.
A Default Job Begets Better Opportunities
Major economic busts are history if there is no unemployment and/or no debt. It’s a privilege for the company to have you work for them. Default virtual employment means that employers have to be more attractive to get you to work for them. There will be better employment and better reasons to work for a company besides a paycheck.
A default buyer of your time makes every other competitor step up their game or they don’t get employees.
Every Second Matters
Schollars pay the earner tax-free directly, fund present expenditures, and automatically fund a long-term investment account. Like a 401k, but it isn’t for you, it’s to fund long-term projects that benefit Future Generations.
You staying alive and productive is economically meaningful to others.
Dividends Beat Taxes
Earning original currency doesn’t just benefit you, it enriches and funds TimeBasedMoney. Your successful time is our revenue. Taxation is not necessary, excess profit is returned in dividends. Your neighbor’s production ultimately helps you become richer.
Growing cumulative cooperation between humans: an economy, will deliver greater dividends and replace the need to tax income.
Your Life has Infinite Value
Growing old will grow your wallet. There is no restriction on how much someone could be paid per hour, just as there is no restriction on how long someone can live. The only limit is 24 hours a day. Wage starts with age, fitness is a boost, and educational past and certifications mean permanent raises.
An illimitable future awaits you.
Space Colonization
When we start valuing human living time as paramount then we can finally fix many of the problems plaguing Earth... Then what are we going to do with all this time and money? We’re just getting started, humankind is a rocket launching off. Progress. Progress. Progress. Be greedy. There are unlimited frontiers and challenges. There's new dwellings of gold in them thar space hills. Pioneering is always trending.
SPACEWARD HO, BROTHERS AND SISTERS!
The principle that individuals and well-spent time must originate legal tender is revolutionary.
We are currently living in a system designed to take advantage of us as the cost of living keeps on rising.
Central banks and the national debt have already monetized human life, but Schollars monetize the miracle of human life.
Shared Profits to the People!
We hold these Truths to be sacred and undeniable:
Life is for the living and future generations.
Human life gives money its value.
Infinite power and profits are within each of us
The economy is the greatest servant in our Pursuit of Happiness.
Good fiscal policy and cooperation will launch humankind throughout the universe in the search for greater dividends.
A new economy starts with a new banking system. Humankind’s Central Bank does not compete with the Federal Reserve, other central banks, or regional banks because fiat’s debt-based money isn’t fair. it is nearly invincible. Fiat money, debt, and income taxation can’t lose unless they are destroyed. Fiat money has no inherent value, is invented out of thin air, and then is legalized to be magically multiplied by bankers in exchange for IOUs. Schollars will not legitimize fiat money and debt; Schollars can never be convertible into dollars because they do not recognize nonparticipatory authority.
Authority says their debt-based money has value because their authority says so. Authority only has authority because of the consent of the governed.
Think Like a Tree, Earn Like a King
Schollars use the simplistic Excellence of disinterest, let’s lay some groundwork
1) The government’s authority says that their money is valuable and so it is, we are forced to accept that dollars are the medium of exchange with the government. There are alternative currencies but individuals and businesses have to pay their taxes in dollars, and since the government has ingeniously made nearly everything a taxable event, fiat money is the default money of a nation. Money is the most critical resource in our lives. We transact and can turn that money in our wallet into almost anything we desire or need, the holders of fiat money can hire people to do just about anything they want them to. Fiat money is an excellent medium of exchange because it is accepted and exchanged everywhere, legal or not, paper and card swipes for goods and services. We accept the value of fiat money because it is in our best interest to accept that the dollar is valuable, it’s what makes the world go ‘round. The beauty of fiat money is its convenience in the exchange of something for something else.
2) A dollar is not worth a dollar. What is a dollar worth? A dollar is worth a dollar because it says 1 dollar on it. It is worth nothing because it is a promise, it says debt right on it. But the value of a dollar is constantly changing. Sometimes it’s worth more than a dollar, sometimes it’s worth less, but mostly a dollar is worth more today than tomorrow because of inflation. Interest rates affect the value of the dollar. A dollar’s value fluctuates because it is used as a comparison between other currencies. Its value comes from believing that it is worth something because authority tells us, and we consent to give authority its power. This is just how fiat money works and works pretty well. A dollar is not worth a dollar but it is worth a dollar because it is a dollar. This makes fiat money so powerful.
2) Interest is an invented revenue stream. Interest is the revenue that comes after money is created. A banker uses the privilege of fractional reserve banking to loan out money with the agreement that they will be paid back the principal later PLUS interest, money that didn’t exist before. Interest is the cost of risk because the loanee might not repay. Interest is allowed because we acknowledge and accept that nothing is free; there is a cost to issuing money and there must be revenue from money’s creation to give it purpose.
3) Cash is king. Sellers often give a discount if the purchaser pays in full early. I like payment upfront because I hate debt and I’m not a bill collector. I don’t have time for promises to be paid back later, I could be dead later. I’m alive now and I want to be paid today.
4) A tree makes apples for the birds to eat and fly away. Birds accept that apples are apples even though they contain seeds and have an inedible but decomposable core.