Blog 22July 2019 The Little things
Libra<br> IsTheNewMo <br> NeyForCyberSpaceThat <br> IsAlreadyHereTheNewWorld <br> Order<br>
“It is always the “little things” that get you.” The s/hero said to the unveiled baddie in the movie I was watching. Libra, represents the ultimate “LittleThing” that gets so many of us. And there is no Movie.
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For those, who haven’t heard the news. Libra is Facebook’s proposed new money fort the Internet, for the moment, before the competition arrives, for the new world that is already ‘In Order’. And it certainly got the Firmian LB’s [left behinds remember] all frisky last week in the Firmian [US] Congress
The much predikted Fourth Industrial Revolution [FIR] is NOT something that ‘will happen in the future’. It is the extension of Toffler’s “Third wave”. In other words: it is already, something that happened in the past…. We are living with and adjusting to, the outcome of the Third wave.
The political shift to a ‘One World’ government that we will need eventually, to handle the coming “world burning” issues [depicted on my web page for the past decade] … is currently on a nationalistic backburner… and we may yet once again succumb to global scale konflikt
The political shift to a ‘One World’ government that we will need eventually, to handle the coming “world burning” issues
[depicted on my web page for the past decade]
… is currently on a nationalistic backburner… and we may yet once again succumb to global scale konflikt.
While politics may stagnate or hark backwards: economies don’t… And an economy that currently is vying for third place for sheer size in the planet’s growth statistics is the cyber economy: the digital world.
What Libra proposes, whether they know it or not* is to put me in a position where I can advertise my products or services online in Libres, be paid in libres and at year’s end do my balance sheets in libres; and if necessary convert some back into my local currency, to pay for the fewer and fewer things that I won’t be able to get online: should I so choose: and of course [in case you’re listening] cover any tax liabilities I may incur.
As someone who has played on the Internet [cyber world] since the mid-nineties the single most problematic issue was then, is now , has always been: how to pay for stuff that I wanted, or needed or simply liked… without necessarily using an intermediary. In the strangest of ways; what started its journey as a process to eliminate all the [so-called] middlemen/persons, in all supply chains through what is called DISINTERMEDIATION, ends up not doing that at all… when viewed from the Money perspective.
What is money? You may ask. Extremely briefly: Money is something that acts as a store of value: i.e. U can measure what you are worth; a measure of value scaling: i.e. are you getting richer or poorer, and principally, in its role as a unit of account acts as a means of exchange: i.e. paying for or being paid for goods or services… and Plastic is not really the same as cash… Cash is person to person. Plastic is Person to bank to bank to person.
Actually as regards the Internet economy; if one uses the word bank for PayPal or Payoneer [for instance] It is more usually PersonToBanktoBanktoBankToBankToPerson: The new chain gang in place of the old middleperson.
It is that unit of account- exchange value of money that has become the prime casualty of this enormous change in how the global economy functions… and it must be replaced. Not replacing it is the equivalent of playing the board game called Monopoly without money [which, I understand, the brand owners are currently attempting to market].
For most of the past 5000 years at least… money has been something tangible that was scarce and had durability… at times it was cowry shells, at best it was Gold… Today it is proposed to be Bitcoin… a digital money substitute for gold
AS most of you know for instance the world since 1971 has been off a “gold standard” and on a Fiat money standard, something I have discussed previously. Libra then is not being presented as a substitute for gold: but as a global unit of exchange measure, for transactions inside the New Economy.
In other words, Libra, it seems, is proposing to be a global exchange instrument so its value will be based on a basket of Global Fiat currencies and therefore like those currencies will inevitably be linked all the way back to a micron moment in a grain of gold. or something more potent.
Bitcoin [which has the same potential] is not really satisfactory, at this point, for this latter purpose. This is primarily because it is still in a speculative phase. This means that its exchange value is too volatile to facilitate stable routine “shopping’ type exchange. [And Facebook is evolving curiously into a digital departmental store… supplying almost all things to all people.]
Libra on the other hand, as I gathered from its defenders in the Congress hearings, is, unlike Bitcoin, not aiming to be the replacement for the role of Gold [historically] but as a convenient additional [private] fiat currency available to everyone on the global market called Facebook.
The current wave of opposition to Libra, reflekted in this past week’s interrogation of its proposers by the US Congress, was notable for its failure to deal with the ‘means of exchange’ problem, in the New Economy. The worthy reps and senators, chose instead, a, now routine, range of red herring issues: to deal with a new reality, cyberspace, about which most seemed to be disturbingly oblivious
And so the inevitable thirty years long development towards an ‘out of hand’ ‘hard cash ish’ global currency, being the ultimate No Brainer: that development should again inevitably be left to the market.
Libré Libra.
- “What Libra proposes whether they know it or not.” The prattle over Libra is dominated by the misdirection represented by alleged Privacy concerns. At the core of the privacy problem is yet another ‘little thing’… The unrekonciled issue of Tangible liabilities in a space deemed Intangible… impacting on tangible issues in defence of intangible rights.
To Be Kontinued….
Loves ya all.