The problem with money is that it either has to have intrinsic value in itself, like gold, or it has to be backed by or exchangeable for something that has intrinsic value. The abandonment of this principle, and the worldwide move to fiat currency, money freely printed and backed only by the soundness of the country or bank that issued it, has been brought the world’s economies to the verge of collapse in short order.
First, the earliest money systems were a means of accounting for value, not currencies like gold and silver that act as a store of value. There is no value without human beings. In the natural world, animals and other living things do not use a “circulating medium” (as Jefferson called money) to get what they need. Societies based on money as a means of accounting for value last much longer than societies based on money as a store of value, because commodities can always be cornered and manipulated.
When Eisen says we need “sound money,” he reveals a predisposition for the bankers, who currently control the system. “Sound money” has always been a bankers code phrase for the FAUX fiat money creation process in which the paper currency is never backed by more than 10% of its outstanding value in gold. Ron Paul uses this term as well. Who do you think controls most of the gold on the planet? The same small group of people that control the central banks and once-sovereign currencies. Replacing our current charade with this charade would change nothing.
The original 13 colonies in America had their own banks and printed their own money. When Benjamin Franklin went to London, he was horrified to see beggars everywhere and debtors prisons. When asked how they dealt with poverty in America, Franklin replied there wasn’t any. “How could this be?” he was asked. He explained that the colonies printed their own money (in a certain proportion to the ever-increasing value created by human labor). The British bankers then ordered Parliament to prohibit this practice and forced the colonies to trade in British gold and silver coins, which were scarce, of course. This created a depression in the colonies and is the main impetus behind the Revolutionary War.
Fiat currency doesn’t work when private banks control it and charge once-sovereign nations interest to use it.
Evolution means putting people at the center of the system, not commodities. All the spiritual masters teach this. Moses drew a line in the sand, worshipers of the Golden Calf on one side, worshipers of G-d on the other; Jesus said, “You cannot worship G-d and mammon.”
Putting people at the center means basing value on labor. Capitalism put capital at the center. That is why human needs and ecology take a back seat to profit.
What will it be?
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