“Zero Money”: First Principles Thinking About Monetary Value
Change the Money, Change the World (3)
Preamble (Paragraphs 10 to 12 of 18) Choices of action rooted in hubris
A debit and credit inflationary policy has proven to be a driver of degradation of the value of the fiat U.S. dollar after it was decoupled from a stable disinflationary medium that was gold. Consequently, as the reserve currency of the world, the use of fiat USD perpetuates the growing seriousness of financial crises everywhere. The USD is the main cause for the 21st century global economy facing devaluation of currency everywhere. There is little or no evidence that the bad governance of the existing monetary and fiscal policy of the U.S. won’t continue. As I have intimated, what makes the governance so bad is a false ontological perspective of fearless leaders exercising choices of action rooted in a hubris that ignores natural first principle thinking. They should instead give allegiance to natural law. Unpacking the ontological argument for this allegiance is complex, but the essence of this argument is phenomenological, an approach that concentrates on the study of consciousness and the objects of direct experience. It is nature, as consciousness-in-itself, the absolute subject, that experiences existence. Consciousness at the absolute subjective register contains the infinite potential of infinite phenomenal ideas. The potential of any idea is what is manifested in objective reality. At the register of absolute subjectivity relative subjectivity is known along with the world as perceived. At the register of relative subjectivity is known the entire field of thought, thought regarding cognition of objects of the senses as well as of cognition, or if you will, meta-cognition of oneself.
In this ontological context any phenomenal idea is fair game for discussion of its epiphenomenal manifestation in objective reality. This essay, however, is focused on the idea of value, not value in general, but specifically about the value of money. The hypothesis proposed is that money value is an epiphenomenon of the absolute idea of scarcity. The ontological perspective is of primary importance when we speak about the subject of governance of money. It is poor governance that has the world entangled in a devaluing spiral of debt and credit inflation policy. Later, this discussion recognizes that we don’t have a real world at all, just a false world. It is at the objective register of reflected subjectivity that human governance plays a role in manifestation of the phenomenal idea of scarcity being substantiated in the epiphenomenon of value of a medium of money. Bad governance is a result of the hubris of individuals acting to violating the clear reflection of scarcity in the value of money. This is a failure endemic to inflationary monetary and fiscal policy that has all but destroyed the world economy. Understanding the cause of the conundrum, and how it has been sustained, must be a beginning to “another world is possible”. The phenomenological ontological perspective not only names the problem, it also supports the course of a revolutionary paradigmatic shift for monetary governance in a new world.
Nature, as that which experiences, is an absolutely sovereign subjective Consciousness holding ideas that are manifested in the multiplicity of the objectively known world of living minds reflecting that Consciousness. As such, nature is not centralized in some fragment of the totality of existence, but infinitely decentralized. For the ontology hypothesized, the phenomenal idea of scarcity is manifested as an epiphenomenon of maximum quality of value for money in the objective world. For governance, we should understand “decentralized” to mean value is entirely determined by no one person or party of people, or national government or private organization such as the Federal Central Bank. True monetary value is thus a natural quality. Decentralization is also reflected in the balance of market forces, whatever that balance is, because no centralized authority can possibly have full knowledge of currently operating market forces. Historically, gold worked well as a medium for a store of value. It resulting in historical periods of money working as we have ideally envisioned it, as money maintaining its value. Whenever value has been debased, however, economic recessions and depressions, and even complete collapses of monitory systems and societies followed. There are discernible causes for those negative outcomes. The root of all causes is the violation of a first principle of structuring governance around the essential necessity of scarcity in the selection of the monetary medium. It is a violation by the ignorance, willful or not, of individuals and parties of individuals centralizing and thereby usurping the decentralized natural law of money.
Change the Money (1) Preamble — Monetary value true by nature
Change the Money (2) Preamble — The first principle of scarcity