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what money really means and how to get rich_141

Author: what money really means and how to get rich

Technology will only promulgate this system. If individual information in

the form of credit, like a credit rating, can be disseminated in real time, then

each of us becomes his or her own brand, capable of conducting multiple

exchanges in multiple vendor situations—globally.

In other words, you or I can walk into a store in Tokyo, be recognized, have

our credit assessed in real time, and trade on that credit—and so on. No material

will change hands.Verbal or some other recognizable form of confirmation

of the exchange will be all that is needed. Our wants will be directly

registered. This will create a new landscape of global democracy.

The largest obstacle to this is the trustworthiness of the consumer and his

or her interfacing with various networks—other people, places, things, online

and in a traditional commerce or trade-like situation—to establish a record.

To be sure, this is an ancient system. In Islam it's called hawala. In Hebrew

it's called mazal. In China it's called fei qian. All of these systems basically mean

that you'll trade on your word alone.The transaction is based on the individual

trust and faith in you as a person.

Morality and ethics are the key issues at stake.

What comprises our individual mode of ethics and morals is distinctly

unique.We all operate on highly refined and different systems in the context

of money's propositional value—what we'd do with it. Some people have

amassed fortunes by evil means only to spread evil, while others have little or

nothing in terms of money but have spread fortunes of goodwill. Some of us

would spend our money on fine wine, others on ice cream. Propositional values

can't be traded or exchanged in a manner of equilibrium because of psychological,

societal, cultural and religious diversity. But a transferable

mechanism equated to value can be transferred globally.

This mechanism is our "proof," or the footprint of ourselves gleaned from

varietal circumstances. Regression analysis (take all the things I have done in

my lifetime and deconstruct them to a mean) can be instituted to determine

this mechanism, or mean. That mean, our footprint, will be our means of

exchange. It will fluctuate. It will be worth more or less some days. But that's

how money operates. Of course, the question is who will program the deconstructive

elements that will determine our exchange mean?

There is already a board, the Federal Reserve, that governs over our monetary

value system in the United States. Each country has one. In fact, there

is an International Monetary Fund Dissemination Standards Board and a

General Data Dissemination System, which are designed to provide guidelines

"for the public of comprehensive, timely, accessible, and reliable economic,

financial, and socio-demographic data." There is even a Data Quality Reference

Site, which was created to foster a common understanding of data quality

around the world.


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