Sunday, December 12, 2010

Locating Your Promise to Pay

At present we have a banking system where a bank takes your promise to pay, and based on that promise, the bank then prints your promise to pay in the form of bank notes. My question to you is, "Where is the true value in this exchange?"

The simple answer is, the value is where it's always been. The value is where ever you are because the value is in  your word and that represents you. Your signature on a piece of paper is merely representative of your word, your true promise to pay. There is no intrinsic value in a piece of paper.

Our thinking has been conditioned to think that the value is in the paper notes (actually, in Canada, cloth notes) that are printed by the Bank of Canada. Or we think that the value of the note comes from what's contained in a bank's vault. But the truth is that the value is in the one who issued the promise to pay. I'll say it again, your signature on the promise to pay or bond represents your oath to honour your promise to pay. Your oath or your word is your bond. Years ago the knowledge that a person's pledge or word was their bond was well known. In movies depicting those bygone days we hear the words, "My word is my bond. Somehow, we have lost the connection to the awareness that the act of signing an application form represents our bond. Most of us, as we sign these forms never think, "My  honour is now attached to this piece of paper." We think that we are merely asking for something. What would most of us think if, after signing a loan application form, the bank employee looked at us and said, "Thanks for your pledge",  "Thanks for your bond." or "Thanks for your oath."?

Mathematically Perfected Economy removes the middleman and brings back to our awareness that we , not the bank, issue the promise to pay. It clearly shows that a country's value is not contained in bank vaults. Rather, it is in the word, pledge and oath of each and every one of its citizens, where it rightly belongs.

For information on mathematically perfected economy see, http://www.perfecteconomy.com/.

Their new site (under construction) can be accessed at this link, http://perfecteconomy.org/.

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Comments to the author are welcomed.
david.ealing@gmail.com