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mathematically perfected economy™ (MPE™)    1  :   the singular integral solution of  1) inflation and deflation,  2) systemic manipulation of the cost or value of money or property, and  3) inherent, artificial multiplication of debt into terminal systemic failure;    2  :  every prospective debtor's right to issue legitimate promises to pay, free of extrinsic manipulation, adulteration, or exploitation of those promises, or the natural opportunity to make good on them;    3  :  our right to certify, to enforce, and to monetize industry and commerce by this one sustaining and truly economic process.

MORPHALLAXIS, January 14, 1979.

Mathematically Perfected Economy™ FORUMS, DISCUSSION

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 Post subject: What is the correct term for the MPE currency?
PostPosted: 17 Jan 2009, 11:26 am 
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I think we need a new term to describe the Mathematically Perfected Economy™ currency. Should it be called an "asset backed" currency?

Possible definition: An asset backed currency is fully secured and endowed with the value of the assets represented. All newly created currency must come as a product of newly created wealth (homes, cars, etc.).

Existing currency descriptions/definitions do not accurately describe the Mathematically Perfected Economy™ currency:

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1. Fiat currency - Currency that is created out of nothing and without any work. It is not convertible into a physical quantity ( such as gold ) and is accepted as a medium of exchange due to government fiat ( decree ).

or

The terms fiat currency and fiat money relate to types of currency or money whose usefulness results not from any intrinsic value or guarantee that it can be converted into gold or another currency, but instead from a government's order (fiat) that it must be accepted as a means of payment.
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2. Gold standard - A monetary system under which the paper currency notes are convertible (redeemable) into a fixed weight of gold. The system is disliked by governments because it restricts their ability to arbitrarily increase their indebtedness and expand the supply of currency. Sometimes called a "commodity" currency secured by the intrinsic value of the backing commodity.

One big drawback is that borrowing money becomes very expensive since gold/silver are scarce. This makes it difficult to expand the economy.
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Maybe there is already a term that I'm not familiar with - look forward to hearing from others.

Larry




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 Post subject: Re: What is the correct term for the MPE currency?
PostPosted: 17 Jan 2009, 12:14 pm 
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I've been meaning to give it a term/name for a long time, Larry. But if we discuss this just a bit, you'll see why your good points are not easily resolved into a simple, distinct term which is preferable to what I've called it for a long time: "mathematically perfected currency™."


GROSS DIFFERENCES FROM ASSET BACKED CURRENCY

Typical understandings or intended connotations of the expression "asset backed currency" refer to a quite different idea actually, that should the imperfect monetary system fail, even as we should have no confidence at all in its proposition but for the false virtue of purported redeemability, ostensibly nonetheless, at failure, its currency can be redeemed in an alternate, usually specific asset or range of assets (whatever good that does us, amidst whole failure). In other words, the gold standard is an asset backed currency, redeemable (by virtue of misnomer) in either gold or silver under the United States Constitution.

The only reason for such alternate standards which comprise asset backed currencies, is the faults of the system (inflation/deflation, and/or multiplication of debt by interest, which further may manifest by any combination, in systemic manipulation of the cost or value of money or property). That is, these systems therefore, if their unsustainable principles are honored, promise a currency can be redeemed in something else of value when the curtain drops.

MPC™ differs from this principle. It is not actually "backed" by a separate group of assets for the specific event of failure. On the contrary, it is directly and incontrovertibly linked in every case of every unit to the very property the existence of the unit represents. Owing to eradication of interest and the obligatory [minimal] rate of payment of all resultant obligations, every unit remaining in circulation only represents a promise to pay remaining debt comprised of units of remaining value equivalent exactly to the units of remaining currency, by virtue of the implemented rate of depreciation, which necessarily represents the republic's concept of relative remaining value. In other words, the implemented rate of depreciation ensures at all times that we pay for property at least as we consume of it, which in turn maintains a circulation which is equivalent to the remaining value of all represented wealth. This integral and inseparable set of principles makes mathematically perfected economy™ perpetually sustainable, and the currency of mathematically perfected economy™ always redeemable in the very wealth it was intended, from the introduction of every unit, to represent.

So the concept of "asset backed" is quite different, and the term is not appropriate to the currency of mathematically perfected economy™, even as, effectively, mathematically perfected economy™ makes the very wealth the currency is to represent, the effective volume of assets/wealth which back the currency. In mathematically perfected economy™ however, this direct predication of the value of the currency being derived from representation of the units of remaining value of the volume of represented assets, gives the currency direct redeemability and perpetual, persistent value, rather than only in the case of failure, and by dependence on social regulation, as in the case of British Banker Capitalism (the present implementation of usury).

By calling our currency, mathematically perfected currency™, we further indicate its direct relationship with and dependence upon mathematically perfected economy™.


mathematically perfected currency™

Here's the link to the Glossary Term:

http://perfecteconomy.com/pg-glossary-of-terms.html#mathematicallyperfectedcurrency




mike


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"When the freedom they wished for most was the freedom from responsibility, then Athens ceased to be free, and never was free again."



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 Post subject: Re: What is the correct term for the MPE currency?
PostPosted: 17 Jan 2009, 12:33 pm 
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Larry,

I went ahead just now and posted this answer to your question under the glossary term.




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 Post subject: Re: What is the correct term for the MPE currency?
PostPosted: 18 Jan 2009, 8:43 am 
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Mike,

MPC™ is an excellent and accurate term to describe the Mathematically Perfected Economy™ currency. Thanks for adding this to the glossary.

The currency is secondary to the economic system that uses it as medium for exchange. Many mistakenly portray a gold backed currency (sound money) as being the cure for our troubled economy. I think it is accurate for us to use MPC™ as we are not using a "fiat" currency (fiat currencies get a bad name because of exploitative economic systems).

Quote:
Mike Said:

MPC™ differs from this principle. It is not actually "backed" by a separate group of assets for the specific event of failure. On the contrary, it is directly and incontrovertibly linked in every case of every unit to the very property the existence of the unit represents. Owing to eradication of interest and the obligatory [minimal] rate of payment of all resultant obligations, every unit remaining in circulation only represents a promise to pay remaining debt comprised of units of remaining value equivalent exactly to the units of remaining currency, by virtue of the implemented rate of depreciation, which necessarily represents the republic's concept of relative remaining value. In other words, the implemented rate of depreciation ensures at all times that we pay for property at least as we consume of it, which in turn maintains a circulation which is equivalent to the remaining value of all represented wealth. This integral and inseparable set of principles makes mathematically perfected economy™ perpetually sustainable, and the currency of mathematically perfected economy™ always redeemable in the very wealth it was intended, from the introduction of every unit, to represent.


While the MPC™ may not be directly redeemable to the holder; if the borrower defaults, then the money is redeemable through the seizure and subsequent sale of the assets to protect the system. And, the borrower is protected against inflation, deflation to protect their accumulated wealth.

Larry




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 Post subject: Re: What is the correct term for the MPE currency?
PostPosted: 18 Jan 2009, 1:19 pm 
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Actually, it was already in the glossary. I thought, "now didn't I do that?" Of course, then I found it there, but I added our discussion for the benefit of others.

Yes, fiat is given a bad name — by those who yet don't cite the principle/fault, or they wouldn't be pretending to discredit the material.




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While 12,000 homes a day continue to go into foreclosure, mathematically perfected economy™ would re-finance a $100,000 home with a hundred-year lifespan at the overall rate of $1,000 per year or $83.33 per month. Without costing us anything, we would immediately become as much as 12 times as liquid on present revenue. Transitioning to MPE™ would apply all payments already made against existent debt toward principal. Many of us would be debt free. There would be no housing crisis, no credit crisis. Unlimited funding would immediately be available to sustain all the industry we are capable of.

There is no other solution. Regulation can only temper an inherently terminal process.

If you are not promoting mathematically perfected economy™, then you condemn us to monetary failure.



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