“Zero Money”: First Principles Thinking About Monetary Value
Change the Money, Change the World (8)
Part 1 (A) The technological solution of the current economic dilemma
A disruptive medium of money whose value emerges from absolute scarcity
I began with asking you to accept the proposition that nature is an absolute subjective reality with an infinite sovereign domain that is qualitatively true, and furthermore that this unitary Consciousness manifests a potential for truth in the objective reality of multiplicities. I will begin this part of the essay by summarizing what has been anticipated from this statement in the Preamble and Introduction sections. Links to the initial pages of the Preamble and Introduction are at the bottom of this page. Those pages will provide necessary preparation for the reader to follow the development of the thesis in the main parts of the essay.
A Subjective/Objective Idealistic ontology has been posited: Consciousness, as an absolute subjective reality inclusive of the phenomenal idea of scarcity, is to have our allegiance in our individual governance of true objective substantiation of monetary value. Set theory was employed to further clarify the ideas of both “registers” and “recursion” for description of that ontological topography. I have offered a metaphor using the number zero as a placeholder for Consciousness, and other integers to depict relativity in objective reality. I proposed that duality in objective multiplicity be delineated with positive and negative set elements in separate sub-sets of epiphenomenal monetary value. These are sets of true and false manifestation from the phenomenal idea of scarcity. This is a recognition of a spectrum of true to false objective substantiation of monetary value — even though only two sub-sets are provided. Assuming this ontological structure, and utilizing first principles thinking, I presented reasoning about the phenomenal idea of scarcity, manifested as value for money, that could be degrees of true or false manifestation of the idea of scarcity. The set-theory exemplification is a vehicle for the thesis: economic problems plague the modern world situation that are arguably the negative outcomes of falsity introduced by the prevailing economic paradigm.
My thesis is that the solution to the current economic dilemma, caused by bad governance, will be characterized by adoption of a monetary medium that is of a value congruent with the phenomenal idea of absolute scarcity. This would be the pinnacle application of first principles thinking about monetary value. Scarcity, as the phenomenal idea in Consciousness at the register of absolute subjective sovereignty of nature, has not been fully manifested as monetary value in objective reality — not even with the adoption of gold as the monetary medium. Gold has a high degree of scarcity, both as a physical element and also as to the technological resistance it has to its production from mining. It certainly cannot be synthetically produced, and its base stock grows little each year as a flow to supply. Unfortunately, what mined gold exists in the world for a monetary medium is mostly under central control by governments. This gold is not even being used to back currency, instead currency is printed entirely by and as government fiat.
Never has a monetary medium existed with completely congruent value to the absolute idea of scarcity. Even gold itself was manipulated by individual governance. Production of a monetary medium with completely congruent value to the absolute idea of scarcity is happening now. It has occurred and is continuing to occur in the technological disruption afforded by the information age. It came with saturation of the planet by computer networks, and programming of a design for an inviolable algorithmic structure of decentralized governance of a technological monetary medium. This “Zero Money” provides anyone with complete sovereignty over their own wealth. This is revolutionary, beginning from adaptations in the legacy economic paradigm, “Zero Money” is emerging by adoption of a novel monetary structure free from fiscal manipulation. Political struggle needs to ensue, to first mitigate, then eliminate, our economic problems by fully implementing the new economic paradigm.
Value will become a fully true epiphenomenon of scarcity depending on good governance in choosing the medium of money. How positive or negative the outcome of this choice is, depends on the approximation of this choice to absolute scarcity. The determinate of scarcity is not just its lower or higher natural occurrence, but also the natural resistance of the medium to the expansion of its supply. Both these factors are at play in the evaluation of the approximation to absolute scarcity. In addition to the possible fallacies in choice of medium, it is an observable principle at the register of individuals’ governance that a medium of most value will be expanded by any individual or party, to the relative loss of value of other individuals. This negative outcome can involve disruptive technological innovation. Though it could be disruption of benefit to everybody, it often seems to lead to fragmentation in society, especially when it comes to money:
Printed, pegged to gold currency was a positive technological innovation but poor governance decoupled it from gold. The massive printing of fiat became a disruptively negative outcome for value as an epiphenomenon of scarcity. Importantly, “scarcity” in my usage refers ultimately to absolute scarcity, “Zero Money”, but scarcity in objective reality has only existed in less than 100% of possible value. Inevitably, increasing the supply of a monetary medium yielded debased value as an epiphenomenon of scarcity in objective reality. The existence of a decentralized technological medium that cannot be expanded or controlled is the solution. Political struggle is needed to monitor adaptations of digital currency, and at the same time be a nonviolent force for adoption and protection of complete individual sovereignty over our personal wealth.