Many People on Earth are experimenting and offering alternatives to the current control meme seeking to exercise and nurture Freedom.
Scott Cundill is one of the freedom Loving People that is sharing his experiences in an effort to manifest freedom for all the People on Earth who want freedom.
The Future of Money and Business – Part 1
By Scott Cundill
Welcome to a new world. A world where money does not exist and everyone lives in a Utopian society.
But not quite yet.
It will take time and an evolution of consciousness to get there. And, it will require us to open our minds to some important and startling facts about this thing called ‘money.’
1. Money does not exist
Money does not exist in the world today. Gold, silver and copper have been replaced by the promise to pay money. As strange as this may sound, a “promise to pay” made by a bank to you is termed money because these promises serve in effect as money. In other words, our global monetary system is made up of things like IOU’s, bonds and guarantees, but there is no actual money.
2. The ‘money’ in your bank account does not legally belong to you.
In legal terms, the ‘money’ in your account belongs to the bank, not to you. This is horrifying, but it is a legal fact in most countries. Instead, we enjoy a kind of rental agreement that grants us temporary permission to trade with a bank’s IOU… for a fee of course.
If I work for Vodafone and Vodafone runs out of money, then they could pay me with “airtime” instead. Airtime is a commodity that could be traded in effect as money. This is precisely how the banks work. The ‘air’ gets passed around as an exchange for goods and services.
3. A bank “loan” is not a “loan” at all. A loan is the creation of brand new money.
When a bank makes a loan, brand new money is created. Sometimes this is referred to as Fractional Reserve Banking, but this is a misrepresentation. Fractional Reserve Banking implies that banks take deposits or other money that the bank actually has, then loan it out. It implies that there is movement of money into your account. This is completely incorrect. The entire amount of a bank loan is fabricated by the bank the moment that loan is granted. There is not a bank loan in existence today whereby the bank could actually show a transfer from their account to the lender.
4. Our economic text books are wrong.
According to Lord Adair Turner, a former Bank Regulator, our schools and universities teach a “mythological story of what banks do.” Government officials, bank executives, lawyers, and pretty much anyone who has studied traditional economics, have been taught the wrong facts about how our banking and money system actually works. The Bank of England has also confirmed this to be true.
5. Tax is almost entirely unnecessary
In most countries, each and every cent derived from income tax is used to pay only the interest on that country’s national debt. Nearly all of this national debt is ‘created out of thin air’ when our government issues treasury bonds. Bonds are simply written promises given to the banks in exchange for their ‘money’ (airtime) which we the people must then pay back with interest.
FACT: All money owed by a government or person to any bank is nothing more than a legal fiction. It does not exist. In fact, the word credit comes from the Latin word credere which means “to believe.” Debt, interest, IOU’s promises and money are all literal and legal figments of the imagination. Without belief (or ‘confidence’), then the system will die.
The Future of Money
While we wait for Utopia, we should use alternative currencies. From global currencies like Bitcoin and Maxcoin to community currencies like BerkShares, the solutions are tried and tested. We just need to get up off our couches and support them.
So, now that we know the truth about money, here is the solution to all our money problems… and it’s coming very soon to an Internet near you:
To open a business, simply go online and set it up. Your company will trade both online and offline, but there will be no registration fees and no annoying documents to sign. There are no ID papers to submit and since there is no registration with the government, that means… no tax, ever!
Then, open an account with one of the many decentralised peer-to-peer alternative currency exchanges that will become available. These won’t be connected to any bank which means that you can transact anywhere in the world without using dollars, euros or yen. Instead, you will trade with alternative currencies. Naturally, there will be no bank charges, no transaction fees and certainly no interest. There will be no weird legal documents to prove your name, address and identity. Criminals will be stopped in their tracks not by a police force but by peer-to-peer reputation – too many complaints will see a business being blacklisted and nobody will trade with them. This self-management technique is already used widely across the web and… it works.
Personally, I am proud to be part of making this a reality. I hope you are too.
In Part 2 – I will elaborate on this amazing concept of “off-the-grid business” and answer some pertinent questions such as “what will replace tax?”
The Future of Money and Business – Part 2
The off-the-grid businesses revolution is beginning. And we are going to thrive. Off-the-grid businesses operate outside of the conventional banking system. They do not register with the government. They do not pay tax and they don’t supply reams and reams of paperwork just to “comply.”
Well, not completely anyway.
Most intelligent people continue to run their existing finances, while quietly in the background they are building parallel off-the-grid businesses.
Does this approach sound radical? Before you formulate an opinion, it is vital that you understand and research the background of why businesses are choosing to go OTG.
How it all Began
Centuries ago, merchants traded with physical gold, silver and precious gems. Carrying around this kind of wealth was dangerous, and for this reason the goldsmiths who fashioned and worked with precious metals became the guardians of those metals. They would physically store the valuables in vaults and guaranteed its safety.
Instead of trading with physical gold, merchants traded with pieces of paper that served in effect as money. These were called negotiable instruments because, like a ship negotiating difficult waters, these instruments would be negotiated from one person to another as payment for goods and services. At any time, a person carrying one of those pieces of paper could take it back to the goldsmith and redeem it for the original physical gold.
If a merchant wanted a loan, they could go directly to a goldsmith. The goldsmiths quickly realised that instead of loaning real physical gold, they could loan a piece of paper, or promise to redeem some gold at a later date. This promise, called a promissory note, was a piece of paper with an amount written on it. So confident and trusting were the merchants, that they accepted and traded with written promises instead of actual gold.
Of course the goldsmiths betrayed this trust. They began handing out more and more pieces of paper as “loans” – even though they did not have enough physical gold to cover them. They literally created the money for the loan out of thin air. Ironically, exactly the same principal applies today. Banks fund cartels of debt collectors, liquidators and lawyers who roam the land, collecting debts and auctioning off people’s physical property for a fee. So corrupt is this process, that they even have the audacity to charge interest on these fictitious loans. With massive amounts of riches being accrued, banks can indirectly fund anyone they want. Armies and countries are at their mercy, all funded by money which is created out of nothing.
Welcome to the sordid world of money-lending, otherwise known as debt.
To this day, goldsmiths work from a ‘bench.’ In Italian, the word for bench is banka. This word banka, meaning ‘bench’ became the origin of today’s word ‘bank.’ In fact, the word bankrupt literally means “broken bench” because, if a goldsmith-banker was caught cheating, their bench would be physically smashed in the public square. Today’s banking system originated from those goldsmiths who became exorbitantly rich thanks to a monumental scam.
Exactly the same process happens in banks today. Only this time, there is no gold or silver or precious gems at all to back our currency. Our ‘money’ is a complete legal fiction. It is a fabricated belief backed purely by the false-confidence of the trusting masses.
People begin to wake up
There was one serious flaw to this perfect plan: there were far more pieces of paper circulating as money than there were actual gold and silver in the vaults. If everyone came and collected their real gold and silver at once, there was nowhere near enough to pay all of them. In order to perpetuate this monumental scam, the bankers (now known as banksters), would lobby to have laws passed that would limit the amount of gold that could be collected, and when. They also did their best to ensure that life was too dangerous to ever allow people to walk around with physical gold. And, above all, they had to keep this secret from the masses, which is why today’s school and university textbooks that teach banking practice are incorrect (see http://www.newera.org.za/our-economic-textbooks-are-wrong-says-bank-of-england/).
Anyone with a bank account is on the receiving end of this debt nightmare. Never before are so many people under so much pressure to earn money, pay tax, pay traffic fines, pay school fees, pay for petrol and electricity hikes, etc.
So now the fight-back kicks in.
A solution: Off-The-Grid Business using Alternative and Crypto-Currencies
For centuries, the banksters have been getting away with their scam. I discussed this in part 1. When a bank makes a ‘loan’ it is not a loan, it is a complete fabrication of brand new money with interest charged on top of this amount. If you don’t pay it back, their well-funded cartels clinically auction your property with a complete lack of moral decency.
But recently, something has happened that the banksters did not expect. The Internet appeared. Clever people who take the time to see the light are creating online opportunities that level the playing field. People are sick of filling out forms and supplying pages and pages of documents just to open an ordinary bank account. They spend weeks trying to register businesses with the government, and are then forced to comply with expensive audits and a plethora of legal mumbo jumbo that binds them into a black-hole of nothingness. In South Africa, there is a term called gatvol. It literally means “my hole is full” – we’ve had enough!
And so today, many kinds of alternative currencies are appearing. The most famous global currency is bitcoin. Bitcoin is a decentralised peer-to-peer trading system with a finite number of coins in circulation. Because it is peer-to-peer, it cannot be closed down (although the dark forces have tried). Hot on the heels of bitcoin are about 200 other global online currencies such as litecoin, darkcoin, maxcoin, peercoin, ripple and hundreds of other coins. They are global and running off the Internet as we speak.
Then there are local currencies, or community currencies. Berkshares, Ithica Hours and the Community Exchange System are examples. These local currencies are created by local communities and given to people as payment for benefitting the community. They fix roads, plant food gardens and restore buildings. Instead of getting paid by commercial bank promises (aka ‘money’) the workers are paid with these community currencies. Where does this currency come from? It is created out of thin air by the community, thus replacing the interest baring loans, also created out of nothing, that would have resulted had they used conventional bank money.
We the people need to grasp one very simple concept: we have everything we need to make our country thrive! Do not be fooled by the complicated nonsense of economic indicators and inflation rates, national budgets and balance sheets. All you need to know is this: you are being ripped blind.
Stay tuned for the Grand Finale to this series of articles. Sign up for Part III, and other great articles, at www.scottcundill.com