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We don't know what money is,
nor how money works
"Pounds, euros, dollars, they're all currencies
that we know and we recognise.
Now we might think that we could do with a bit
more of them,
but at least we know what money is, and how
money works.
We keep it in banks and we spend it.".
The opening delusional statement by Spencer Kelly,
the reporter for the Panorama programme documentary
"Who Wants to Be a Bitcoin Millionaire?"
First aired 11 February 2018, at 8:30 pm on
BBC1
Can be watched at:
[1]
http://www.bbc.co.uk/programmes/b09s3wbt
[2] https://youtu.be/g7Mpi3h8ilo
If you don’t know the difference
between currency and money,
● You don’t know what
money is, and
● You don’t know how it
works
"Pounds, euros, dollars,
they're all currencies …
… we know what money is,
and how money works.”
If you conflate currency with what is supposed to be a
monetary unit of account (“pounds, euros and dollars”);
● You are cognitively enslaved by a mode of
centralised despotic power,
● Funded by the economic parasitism of the
banking-financial market nexus, which is
● Enforced by the captured institution of State
"Pounds, euros, dollars,
they're all currencies …”
Corrupted
monetary
units of account
Circulating tokens
of off-ledger
purchasing power
Now, it is clear that the decline of a language
must ultimately have political and economic
causes . . .
It becomes ugly and inaccurate because our
thoughts are foolish, but the slovenliness of
our language makes it easier for us to have
foolish thoughts.
The point is that the process is reversible. . . . If one gets rid of these
habits one can think more clearly, and to think clearly is a necessary first
step toward political regeneration.
– George Orwell, “Politics and the English Language” (1946)
VERDICT: a “dumbing down” documentary
Who wants to be a Bitcoin Millionaire?
Dumbing down is the deliberate
[or unconscious]
oversimplification of intellectual
content in education, literature,
and cinema, news, video games
and culture.
- Wikipedia
Obscurantism is the practice of deliberately preventing the facts of some
subject matter from becoming known. In restricting knowledge to an élite
ruling class of "the few", obscurantism is fundamentally anti-democratic,
because its component anti-intellectualism and elitism exclude the people as
intellectually unworthy of knowing the facts and truth about the government
of their City-State. - Wikipedia
???
WANTED: a documentary filmmaker
who can investigate these questions:
● What is money?
● What is currency?
● What is the distinction between money
and currency?
○ Are they just synonyms of each
other?
Question
set: 1
???
WANTED: a documentary filmmaker
who can investigate these questions:
● What is cash?
● How is cash related to currency?
● How is cash related to money?
● What is “de-cashing” of the monetary
system?
○ What are its implications for
citizens?
Question
set: 2
???
WANTED: a documentary filmmaker
who can investigate these questions:
● What is economy?
○ What is the real economy?
○ What is the economy of
financial markets?
● What is banking?
● What is finance?
● What is the operational relationship
between finance and the
banking-financial market nexus?
Question
set: 3
???
WANTED: a documentary filmmaker
who can investigate these questions:
● What is the operational relationship
between the real economy and the
banking-financial market nexus?
○ What is the role of the State in
the functioning of this nexus?
Question
set: 4
???
WANTED: a documentary filmmaker
who can investigate these questions:
● Is there an alternative economic
liquidity system for mobilising and
coordinating real economy production
and distribution?
● If so, what role could autonomous
distributed ledger technologies have?
○ What alternatives to Bitcoin
and its clones could be used?
Question
set: 5
???
WANTED: a documentary filmmaker
who can investigate these questions:
What impact would an alternative economic liquidity
system have upon the following dimensions of human life:
● The economic dimension of human livelihood
● The political dimension of human obligations and
rights
● The cultural dimension of developing human
potential
○ Including obligations regarding the
stewardship of Nature and Community
Question
set: 6
DEVELOPING A CULTURE OF DISRUPTIVE THINKING
TO REGENERATE
THE POLITICAL AND ECONOMIC DIMENSIONS OF HUMAN LIFE
A working paper series to present regenerative economic thinking
in progress, in order to
● disseminate disruptive ideas, and
● elicit comments and collaboration from academics,
professionals, public servants, and especially Civil Society
stakeholders.
Watch this space ! =
https://goo.gl/WNTCxy
This work is licensed under a
Creative Commons Attribution-NonCommercial 4.0 International License
Author: Raymond Aitken
Contact via Twitter:
@raymondaitken

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Introduction to working papers for regenerative economic thinking

  • 1. We don't know what money is, nor how money works "Pounds, euros, dollars, they're all currencies that we know and we recognise. Now we might think that we could do with a bit more of them, but at least we know what money is, and how money works. We keep it in banks and we spend it.". The opening delusional statement by Spencer Kelly, the reporter for the Panorama programme documentary "Who Wants to Be a Bitcoin Millionaire?" First aired 11 February 2018, at 8:30 pm on BBC1 Can be watched at: [1] http://www.bbc.co.uk/programmes/b09s3wbt [2] https://youtu.be/g7Mpi3h8ilo
  • 2. If you don’t know the difference between currency and money, ● You don’t know what money is, and ● You don’t know how it works "Pounds, euros, dollars, they're all currencies … … we know what money is, and how money works.”
  • 3. If you conflate currency with what is supposed to be a monetary unit of account (“pounds, euros and dollars”); ● You are cognitively enslaved by a mode of centralised despotic power, ● Funded by the economic parasitism of the banking-financial market nexus, which is ● Enforced by the captured institution of State "Pounds, euros, dollars, they're all currencies …” Corrupted monetary units of account Circulating tokens of off-ledger purchasing power
  • 4. Now, it is clear that the decline of a language must ultimately have political and economic causes . . . It becomes ugly and inaccurate because our thoughts are foolish, but the slovenliness of our language makes it easier for us to have foolish thoughts. The point is that the process is reversible. . . . If one gets rid of these habits one can think more clearly, and to think clearly is a necessary first step toward political regeneration. – George Orwell, “Politics and the English Language” (1946)
  • 5. VERDICT: a “dumbing down” documentary Who wants to be a Bitcoin Millionaire? Dumbing down is the deliberate [or unconscious] oversimplification of intellectual content in education, literature, and cinema, news, video games and culture. - Wikipedia
  • 6. Obscurantism is the practice of deliberately preventing the facts of some subject matter from becoming known. In restricting knowledge to an élite ruling class of "the few", obscurantism is fundamentally anti-democratic, because its component anti-intellectualism and elitism exclude the people as intellectually unworthy of knowing the facts and truth about the government of their City-State. - Wikipedia
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  • 11. ??? WANTED: a documentary filmmaker who can investigate these questions: ● What is money? ● What is currency? ● What is the distinction between money and currency? ○ Are they just synonyms of each other? Question set: 1
  • 12. ??? WANTED: a documentary filmmaker who can investigate these questions: ● What is cash? ● How is cash related to currency? ● How is cash related to money? ● What is “de-cashing” of the monetary system? ○ What are its implications for citizens? Question set: 2
  • 13. ??? WANTED: a documentary filmmaker who can investigate these questions: ● What is economy? ○ What is the real economy? ○ What is the economy of financial markets? ● What is banking? ● What is finance? ● What is the operational relationship between finance and the banking-financial market nexus? Question set: 3
  • 14. ??? WANTED: a documentary filmmaker who can investigate these questions: ● What is the operational relationship between the real economy and the banking-financial market nexus? ○ What is the role of the State in the functioning of this nexus? Question set: 4
  • 15. ??? WANTED: a documentary filmmaker who can investigate these questions: ● Is there an alternative economic liquidity system for mobilising and coordinating real economy production and distribution? ● If so, what role could autonomous distributed ledger technologies have? ○ What alternatives to Bitcoin and its clones could be used? Question set: 5
  • 16. ??? WANTED: a documentary filmmaker who can investigate these questions: What impact would an alternative economic liquidity system have upon the following dimensions of human life: ● The economic dimension of human livelihood ● The political dimension of human obligations and rights ● The cultural dimension of developing human potential ○ Including obligations regarding the stewardship of Nature and Community Question set: 6
  • 17. DEVELOPING A CULTURE OF DISRUPTIVE THINKING TO REGENERATE THE POLITICAL AND ECONOMIC DIMENSIONS OF HUMAN LIFE A working paper series to present regenerative economic thinking in progress, in order to ● disseminate disruptive ideas, and ● elicit comments and collaboration from academics, professionals, public servants, and especially Civil Society stakeholders. Watch this space ! = https://goo.gl/WNTCxy
  • 18. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License Author: Raymond Aitken Contact via Twitter: @raymondaitken