1CoinH, Article Oct 8th, 2022
1 Coin Per Hour As Universal Human Right
by Teun van Sambeek MSc, MRE, Oct 8th, 2022
Alternative Money Initiatives
Currently, there are many initiatives to use cash money, local currencies, precious metals, cryptocurrencies or combinations of these to restore control over money and bring it where it belongs, namely with the people. One might wonder why we see all these initiatives at this time, and more importantly ask ourselves: how promising are they?
There Is Something Terribly Wrong With Our Current Financial System
What many have instinctively felt for some time is that the current financial system is unfair and causes a lot of misery. Many people who have worked hard all their lives, who perform much better than others or who have had much more luck, see precisely at this time that the result of all this effort, work (and also luck) disappear at breakneck speed. They also see that a small group of super-rich don’t seem to be bothered by this and that this group, together with almost all governments, are now making incomprehensible decisions, which very quickly increase the problems for ordinary citizens. Many suspect that something important is going on in our financial system that probably won’t stand the light of day, but find it hard to describe what exactly is wrong.
Why There Always Is A shortage Of Money
Since the introduction of the internet, more people that ever before, understand how money can be digitally “printed” out of thin air by an extremely small group of ultra-rich private individuals. Through constructions such as Vanguard, Blackrock and the BIS, these people stand above governments and citizens and determine completely autonomously what happens in the world. These shadowy and ultimate financial rulers (let’s call them “the Money Printers”) are allowed to own their digital money created out of nothing and lend it to governments, companies and citizens with interest. When Nixon admitted on Friday, August 13, 1971 that the dollar no longer had to be backed by gold, the brake on the already highly unethical “fractional banking” was completely released and the Money Printers were able to cover their new, freshly out-of-thin-air-created digitally money with other digital money they created earlier also out of thin air. As long as the governments were able to continue borrowing this money, the politicians did not complain. Because the interest part of these money-creating loans, is never put into circulation – but ultimately must be paid by the governments to the Money Printers – society is always short of money and society is always forced to borrow more from the Money Printers. As a result, everything that has financial value ultimately becomes collateral, pledged to the Money Printers, to cover the infinite mountain of debt and eventually will be seized. When hyperinflation destroys the economy, the Money Printers automatically become full owners of all collateral and the citizen will indeed no longer own anything. Whether ordinary people will also be happy (as the WEF predicts) is however not to be expected.
The Deferred End Of The Current Financial System
The financial system is nothing more than an ingenious but vulgar pyramid scheme, in which the interest, the increasing number of participants, the continuous creation of money, the increasing productivity and countless opaque financial constructions ensure that the pyramid remains afloat for a very long time. This is quite ingenious, because the pyramid is constantly extracting enormous amounts of wealth into the Money Printers’ pockets (these are families who are hundreds of times more wealthy than their stooges: front-men like Gates, Bezos and Musk). The pyramid system is similar to a musical chairs game, in which more chairs are added each time the number of participants increases. Of course, the number of seats is always just a little too few. The accession of China in the 1970s extended the lifespan of this pyramid scheme by more than 30 years, but it finally collapsed in the crash of September 2008. From that moment on, the economy went into a kind of zombie state, where only continuous interest rate cuts and massively increased money creation could give the illusion of a functioning global economy.
The End Of The Zombie Economy
On September 16, 2019, the “REPO Interest Incident” took place. This was actually the start of the end of the zombie economy. Interest rates could no longer be lowered normally and it was clear that the controlled demolition of the economy had to be started in order to seriously protect the Money Printers against the world population, who from that moment would start to lose all their possessions at lightning speed. It is a mathematical certainty that the pyramid scheme ends in a situation where all the last pieces of property of the population flow to the Money Printers. In this process of hyperinflation, the entire world population is going down economically while the Money Printers will do everything in their power to make the population as dependent as possible on the government by providing, for example, digital food stamps.
The Money Printers have one solution in this final phase to extend their power. After all the remaining property of the population is confiscated via banks and the government, a universal basic income (where the “U” of “UBI” – that stood for “Unconditional” – is changed into “Universal”, because many conditions will be attached to this “governmental aid”) is installed. This UBI system will be using a Central Bank Digital Currency ( CBDC), a vaccination passport and a Chinese-style social credit system. In short, a system where the Money Printers continue to keep their monopoly to create money out of nothing and the rest of the population lives in slavery. It is important to realize that a normal economy – where people still own property and are free to make their own decisions – is no longer possible if the Money Printers control all the property. If you can no longer work for your property, the Money Printers will determine the new employment goals. In doing so, the Money Printers must – of course – protect themselves extremely well against a very large group of people who by then can explain exactly how this hostile takeover by the Money Printers has been executed in a shady, undemocratic and therefore criminal way (via counterfeit crises and massive deception by the mainstream media and science they control).
Inflation Is Theft And Is The Objective
The way money is currently being created is pure theft. For example, if the Money Printers create and lend 1 Dollar, everything in the world becomes a fraction of this Dollar more expensive without anyone noticing. This is because printing this Dollar ensures that there is slightly more money in circulation chasing the same amount of products in the world. Price increases are therefore primarily the result of the creation of money. And because this created Dollar is owned by the Money Printers and then lent to the population, the “price increase” portion of all products that have become more expensive is in effect stolen from the population by the Money Printers.
Alternative Money Solutions VS The Money Printers
Now that many are beginning to see through the real cause of the ongoing financial malaise, various initiators are trying to get out of the ever-increasing yoke of the Money Printers by trying to create alternative forms of money. It is clear that the total debt reset desired by the Money Printers – whereby all property is transferred to the Money Printers and a programmable CBDC currency and social credit system with vaccination passport is rolled out – is an extreme form of slavery that no sane person wishes.
The rise of Bitcoin and other cryptocurrencies has accelerated this search process for alternative money. In most initiatives the participants hope that they can break the monopoly (of the creation of money by the Money Printers).
The mere fact that these initiatives can be seen in many places, should make everyone very hopeful. Never since the war of the Americans against the English bankers in 1812 has there been such a clear massive stance against a wretched financial system. It means that a very large group of people are finally beginning to understand that the current financial system is the main block to peaceful social progress. Because the Money Printers are only an extremely small group of people, their biggest fear is precisely that their criminal system will be understood by huge groups of “awoken” people. And that is exactly what is happening right now. Due to the mass awakening, the transition to the totalitarian state of the Money Printers has become an enormous rush job. Because of this haste, there are more and more cracks in the organization of the people who have to implement the agenda of the Money Printers. And it is precisely those cracks that make that more and more people understand that an alternative financial system needs to be seriously worked on!
Here a global overview of the most common forms of alternative money:
- To back Fiat-money (= the money we currently use like Euro’s and Dollars) with gold again;
- To pay only with cash, gold- or silver coins;
- Using cryptocurrency coins that are created when “miners” solve their “hashing-puzzles”;
- Deposit money with a limited group and use it to buy “locally issued” (digital or physical) participation coins and then try to use these coins by only purchasing as much as possible services and products from participants in that particular coin project;
- Combinations of these options.
The question is whether these options can break the money creation monopoly of the Money Printers. The simple answer is unfortunately “No”, and here’s why:
If precious metal is involved then you have to take into account that the Money Printers have the monopoly on gold and silver mines, and also own almost the entire global precious metal supply. With the monopoly on precious metals, the Money Printers can always get rid of their precious metals through price manipulation and insider knowledge, which has been happening for centuries. The Money Printers therefore simply retain their monopoly and their wealth when we would apply alternative solutions that are using precious metals.
In addition, all solutions where you have to buy into with fiat money, such as the precious metals above, crypto (where the miners initially need fiat money to buy their mining computers and energy) and participation certificate solutions, have the problem that the Money printers can always buy in substantially (via freshly created money and straw-men) and thus gain full control. Because the vast majority of the world’s population will – by that time – already have been stripped of all their possessions, these people cannot possibly participate substantially in these “purchase solutions” and will therefore not be able to contribute to the breaking of the money creation monopoly of the Money Printers.
Reclaim Everything That Was Stolen
We need to realize that the Money Printers own more than 99% of everything that has value, and more importantly, pay the salaries of the police and armed forces. This police force – which is increasingly being reorganized on behalf of and to protect the Money Printers and their stooges – will also be deployed to enforce the expected bans on any alternative money solution.
While the Money Printers will resist tooth and nail, it is paramount that in establishing an alternative financial system, recovering everything stolen by the Money Printers is a fundamental premise. This is absolutely necessary, because – only if this injustice is rectified – a chance for a new, ethically responsible alternative financial system exists.
Fleeing Isn’t An Option
A few people may be able to operate under the radar for a while by using privacy crypto coins or have some protection against hyperinflation by using precious metals they have accumulated. However, the masses will not be able to participate en masse in those solutions and thus break the monopoly of the Money Printers. This flight of a large group in these alternatives, more or less permitted by the Money Printers, will also break up the counter movement and thus probably weaken it. It is logical that people who see no other perspectives want to flee to alternatives to stay out of harm’s way for a little longer. Because we will soon have a unique opportunity (and must therefore seize it) to tackle the system structurally, fleeing to alternative forms of money that cannot be scaled up fairly and which do not bring about a substantial ethical redistribution of wealth is not a structural option. However, as long as the fleeing group will support the structural ethical solutions, there is no objection to temporarily fleeing to such non-structural alternatives.
The Injustice Of Money Creation Monopoly
“Is it reasonable for a small group of Money Printers to hold the money creation monopoly?” This money-question should actually be the most important question in the times in which we now live. There are several reasons why we hardly hear this question. The main reason is that hardly anyone knows that it is not the government that prints money out of thin air, but a small uncontrolled group of private individuals.
Because the fundamental problem of money creation monopoly is insufficiently recognized, the aspect of the right of a small group of Money Printers (to create money out of thin air for themselves) is nowhere fundamentally addressed in the alternative money solutions. This gives the Money Printers sufficient opportunities to prevent the masses from participating meaningfully in these solutions. If you allow fiat money to remain a factor in alternative money solutions, you indirectly accept the money creation monopoly of the Money Printers. That is a fundamental mistake because there is really no reason why we should tolerate any existence of their pyramid money scheme and why we should not immediately and fully reclaim all wealth they stole from us.
The Right To A Money Creation Monopoly
So the question is: “Should we allow a group of people to have the exclusive right to create money out of thin air and thereby control our leaders, media and science and cause endless and never stopping misery out of self-interest?” The simple answer is, of course, “No”.
The Money Creation Dilemma
However, if no group of people has the right to create money out of thin air, then no money can be created at all. So how is money supposed to be created?
Before you try to solve this money creation dilemma, you should ask yourself whether we should even want to use money at all? But after looking at that proposition, it quickly becomes clear that we still will use money for a good while because barter alone is simply not practical. And if we wanted to ban money, we would also have to ban precious metals or gemstones as a means of payment or exchange in addition to “banning money”. It seems clear that such bans cannot normally be enforced, so you can conclude that we will still be working with money for at least a few more decades.
How About The Existing Alternatives?
If precious metal is not a solution, you can think of money that can be issued by the government or even the region as paper and coins that (for the aforementioned reasons) are not backed with precious metals. And clearly, centralized institutes are necessary for this to work. History however tells us that so far no institution has remained free of corruption and that eventually all these institutionalized systems have collapsed in hyperinflation.
For the alternative of cryptocurrencies, not everyone has the same computing power and there are other technical obstacles (mostly encryption-related) that prevent creating crypto coins in a fairly distributed way. As a result, it is not possible to create crypto coin system in a fair way.
Then what?
If you really want to end the money creation monopoly of the Money Printers, this seems to be only possible by declaring together that everyone has a fundamental human right to participate equally in global money creation. So everyone should get an equal share in every coin that is created. This “ethical global base currency” should be the only currency that can be created out of thin air.
The fundamental human right that everyone participates in the creation of the only ethical global currency automatically renders all other currencies in circulation – and thus not created in this ethical, fair way – worthless.
Based on this premise, you can then build regional societies that renounce the use of unethical money and therefore only accept ethical money. With this approach, the monopoly of the Money Printers can be completely broken down in a fairly simple way.
Renouncing unethical money also means stopping paying mortgages, rent, lease, paying off debts and so on. Because the ownership of our houses and cars has been transferred to the Money Printers in an unethical manner (via the criminal pyramid scheme described above}, it is also everyone’s full right to reclaim these houses, cars and other goods, without further payment, continue to use it and also register it as fully owned in alternative registries. In addition, it seems reasonable to distribute business goods and commodities to the regions in a similar way. For extremely valuable storage places, for example, with large amounts of gold, diamonds or other precious metals or rare products, it is probably best to set up global funds that use these resources for “charity projects” such as building homes for the homeless. This will make a huge positive contribution to the global economy and reduce immigration flows.
Realization Of Ethical Money
Technically, this ethical money is relatively easy to realize. You can create a system for this in which everyone, for example, receives 1 coin per hour completely unconditionally. You can also choose other time units, but 1 coin per hour (24 coins per day) is easy for everyone to oversee. In addition, to prevent endless inflation, you have to build in an automatic currency depreciation. In the 1CoinH initiative, an open source program has been built for this purpose, which assumes 40% depreciation per year. This seems high, but this has been chosen to ensure that the money supply becomes constant (in relation to the number of participants) within 20 years and to ensure that there is a clear incentive for people to participate productively in this new form of economy. With 1 coin per hour and 40% depreciation, the value of the coin would theoretically be around $1.87. So just as simply as this coin is created out of thin air, 40% per year of that currency automatically disappears into thin air in a way that no one will ever be able to use this part again.
How About Privacy?
To be able to check whether there are people who commit identity theft and thereby generate multiple “1 coin per hour” flows, you could work with institutions that monitor this. These institutions should then – just like banks do now – have full access to all your transactions. However, we now know that – the larger the institutes – the greater the risk of fraud. You could even argue that the massive corruption of the last hundreds of years was only possible because only uncontrollable institutions could monitor the money flows. It is therefore much wiser to completely abolish this second monopoly of the Money Printers (the monopoly on access to all transactions) and opt for a system in which everyone can check each other. For now, this seem the best way to prevent corruption of the ethical base currency.
This also means that everyone in your immediate environment can see exactly to who you are spending your coins to. This seems problematic. We should however not forget that you can still use precious metals or even privacy cryptocurrencies that allow you to make expenses that you do not want to share with everyone. As long as these precious metals or crypto hardware and energy is purchased with ethical money, this does not affect the human right to fair money creation. In addition, full transparency has the advantage that the reasonableness of prices will be very easy to follow.
Because the first goal (fair ethical money creation) must come first, giving up privacy when spending that currency is actually of no importance, especially if there are alternatives that can perfectly safeguard your financial privacy, if you find it necessary.
Summarizing
It seems that the monopoly on money creation, held by the Money Printers, can only be broken if everyone embraces the fundamental, universal human right to share equally in every coin that is created in this world and is therefor recognized as the only official ethical tender. In addition, by giving everyone full insight into all transactions, the second monopoly of the Money Printers (full insight into transactions) is also broken, making corruption very difficult in the future.
It is time for us to speak with everyone about this concept of a new fundamental, universal human right and actually start to enforce this right. If you also think that the money creation monopoly and the transaction-inspection monopoly of the Money Printers should be abolished in this way, share this article as much as possible and speak out about it.
Teun van Sambeek MSc, MRE specializes in Construction Organization and Construction Economics, Financial Mathematics and Information Technologies. He is also the initiator of 1CoinH and currently lives in Lagos Nigeria where he is working on his www.betoniq.com building system for affordable housing and at the same time – through the 1CoinH concept – tries to make affordable housing affordable for the entire population of West Africa.
Still Have Questions?
The 1CoinH / Ethical Money system is nothing like we have ever seen before. We can imagine you have plenty of questions left.
Please don’t hesitate to ask us. It also helps us to understand what we haven’t explained well enough.
