Introducing the Talent
by Anthony Migchels
April 30, 2013
Alternative currencies are a crucial component in addressing our monetary problems. However, the monetary architectures that are currently available are wholly insufficient to provide serious relief for Main Street. The Talent is the first independent currency model that provides all functions that modern currencies need to truly compete within the Dollar/Euro paradigm. Not only that: it is now available for immediate implementation at ultra low cost.
Interest slavery and the ongoing gutting of the West through the credit crunch continue to erode living standards everywhere. Small and Medium business is suffocating for lack of credit and demand in the economy, while Big Business is reporting record profits and claiming larger and larger shares of the market.
High class units, operated professionally by people who know what they are doing, have every opportunity to provide small and medium business with both the liquidity they need to operate and new customers. Alternative currencies are not only a great customer loyalty program, as people can spend the units only with the businesses who accept them, they also have the potential to seriously alleviate the liquidity problems of the business's customers.
In hard times, alternative currencies tend to boom. During the Great Depression literally hundreds of them were operated in the United States. In Spain and Greece, hit hard by the Euro Crisis, have seen dozens of units spring up. Argentina has been surviving because of them since its 1998/2002 collapse.
Most famous is the Swiss WIR, which has been turning over billions since its inception in 1934. It's famed for its stabilizing effect during recessions, when capital scarcity makes it more worth while for business to deal with its limitations.
Limitations of Alternative Currencies
However, the Alternative Currency market remains handicapped by major problems. Amateurism and lacking monetary architects of the units being the main ones. The currencies that manage to thrive are typically run by energetic people. The WIR shows how far even very primitive currencies can go if run by a professional organization.
This shows both in the superficial analysis of both the real nitty gritty of the monetary problems that we face and the political context. The field is dominated by idealists. Over the last few years a marked improvement in terms of political awareness is definitely palpable: say five years ago most in the alternative currency business were oblivious to that bankers behind it all, for instance. Nowadays this is no longer the case, everybody is used to 'conspiracy'. But this creates a new problem: the disconnect between the awareness on the web and the stone age conversation that is still the norm in the mainstream.
At the moment the discussion about the monetary architectures that are available is mounting and that is indeed very important, but still much remains to be desired.
Entrepreneurial ambition is really key to make it all work, but this must be combined with level headed appreciation of the monetary and this combination has shown to be very elusive indeed.
The Key Challenge for Modern Currencies
There are two major architectures that hold sway: Euro/Dollar backed units and Mutual Credit based units. Most units work with the basic agreement that 1 Unit = 1 Euro/Dollar, meaning they use the Euro or Dollar as unit of account.
The Euro/Dollar backed units, for instance the American Berkshares, the German Chiemgauer or the British Brixton Pound, are created by selling units: A Berkshare is sold for $1. The Dollar is held by the issuing organization, the Berkshare is spent into circulation at a local business. The local business can spend the unit with a colleague or pay an employee. If at some point a business acquires more Berkshares than it can spend in the network, they can reclaim a Dollar for every unit with the issuing organization.
The great boon of this system is that it allows convertibility of the unit. However, the great downside is that there can never be more Berkshares in circulation than the issuer has Dollars at hand. This means that there can be no interest-free credit. Money scarcity remains a real issue, as the money supply is dependent on scarce Dollar.
Mutual Credit based systems create money as credit: participants, businesses in particular, can just get a credit line in the unit and start spending. The minute they do, new money comes into circulation. When a debtor repays, money is taken out of circulation.
The great upside of this system is that there is no money scarcity: people will typically experience an abundance of money and a shortage of places where they could spend the units. The exact opposite of the Dollar/Euro situation, where most have less money than they would need to invest. There is interest-free credit.
But this comes with a price: there is no Dollar/Euro in the bank to back the unit or to convert. And this is a real problem, because there will always be businesses, usually the more succesful ones, providing popular goods or services, who obtain too many of the units, more than they can usefully spend in the network and they will have to limit there intake, creating serious bottlenecks in trade.
The Talent answers these challenges by providing the first fully convertible Mutual Credit based unit in the world. By providing an online exchange where people can buy and sell the unit. See here for a full breakdown of the system.
The Talent is a complete set of software and best practices, that is now available to everyone who wants to start his own currency. It can be implemented at very low cost and provides the start up with everything he needs to operate a truly comprehensive currency backed with high class methodology, incorporating the lessons learned with 80 years of experience with these units worldwide.
Implementation of the Talent comes with full consultancy for the starting initiative by the system’s developer, the writer of these lines.
The Talent's proposition is particularly ideal for entrepreneurial people who know what is at stake, who see the clear business opportunity that creating high class, professionally run units provide for both participants and the initiator himself.
By implementing the Talent, the entrepreneur can focus on building the network and the organization necessary to run it, resting assured he's offering his participants the best complementary currency currently available anywhere.
The Talent is the first unit in the world that provides everything we expect from money:
– It is sufficiently available ('abundant money')
– It provides interest-free credit
– It is convertible to Euro/Dollar
– Allows payment on-line and by mobile phone
– Connects both businesses and consumers and potentially (local Government)
– Implementation comes with full consultancy.
All in all the Talent is the first architecture that truly allows head on competition with Dollar or Euro in the marketplace.
The Time Is NOW
Years of research and development have been invested in the Talent. It answers all the major issues facing those in the field today. The first unit based on the Talent is the Gelre, which is in pilot phase and for which we are currently raising funds for wider marketing. Soon a national variant for the Netherlands will be launched.
Implementation is seriously considered in the United States, Britain and Ireland.
Funding remains a huge issue. It's sad: not so much money is required, but while there are Trillions available for saving banks, it's very hard to get even a few thousand to save us from the banks.
However, we will soon launch a major crowd funding initiative, where you will have a hands on chance to make a difference in the struggle against the Banks and their Usury and deflation and for normal people looking for a reasonable deal!
Concepts of the Gelre, or: What is 'High Powered Working Capital'?
Mutual Credit for the 21st century: Convertibility
Babylon = Usury! We Want Interest-Free Money!
by Anthony Migchels
April 30, 2013
The truth is we have everything we need to create an interest-free money supply and eradicate usury and associated rent-seeking completely from our economic and social lives. A Usury-Free economy ends poverty and brings abundance to the many. It will save our souls in the process.
The love of money is the root of many evils. Usury is the weaponization of the love of money. It feeds the avarice of the usurer. It forces ever more debtors into ever more immoral behavior. It replaces love with commerce. It corrupts commerce, which becomes ever more exploitative to pay off ever higher interest charges. It is the foundation of rent-seeking. It rips apart the fabric of society. It makes a mockery of any kind of social contract.
It causes hunger. Bankruptcies. Intense stress in families. Weighs especially heavily on the poor and leads to all sorts of excesses at the top. Billions of people live in abject poverty all over the world because of it. Entire communities, nations are gutted to pay the interest to the opulent. Nobody counts those dying prematurely from its effects. They are billions.
The many pay to the few. The poor pay to the middle class, who pay to the rich, who pay to the opulent. Poor countries pay ten times more interest on their foreign debts than they receive development aid.
Even when not in debt, forty percent of our income is lost to interest passed on in prices by producers. The many pay anywhere between five and ten trillion per year to the wealthy. All other rents ultimately are based on cost for capital and would hardly exist without usury.
It is the ultimate centralizer of power and it is global. It has been growing for centuries at compound interest rate speed, and now it is such an incredible cancer it is ready to swallow the remains of the host it has been feeding on.
The European nations put up $4.5 Trillion in handouts, easy credit and guarantees to 'save' their banks and the euro. The Fed provided an unimaginable $16 trillion dollars in easy credit to its banking buddies. Much of it was never repaid. This is 'necessary' because without banks we would not have money. So the West put up $20 trillion to have some bits and bytes and paper and coins circulate to exchange goods and services.
Surely the end of our civilization is near, when we allow such rapacious plunder to be sold with such a stupendous lie. While we simultaneously say there is no money to save the poor from starvation and the Earth from pollution.
The whole thing is totally senseless
We think: "without interest there will be no credit! I would not lend if I didn't get anything back."
But the Money Power doesn't lend anything!
Money is just bookkeeping and credit is an automatic result of double entry bookkeeping, which by its very nature knows debit and credit.
The problem is not the creation of money! Quite the opposite: it's marvelous that we never need to have a shortage of money.
The problem is when the bookkeeper starts raping the debitor with interest for no other reason than the associated minus. And takes all this interest himself. Just for the service of bookkeeping!
We pay $300k in interest in thirty years for our $200k mortgage which was created by entering some numbers in a computer bookkeeping application!
Gold solves nothing
We don't want to pay $300k interest in coin! We want bookkeeping at cost-price! Interest-free!
Even in ancient times Gold and Silver were circulated by private parties. This is touted as a wonderful free market operation. But who circulated the specie? Those owning the mines, of course!
They circulated the metal by lending it out at interest and manipulated the volume from day one.
Today nobody knows how much Gold there is. All the Gold mines are owned and controlled by the Money Power. Those owning the mines are the Money Power, that's how it all started. Vast amounts of Gold are in their vaults, ready to be unleashed onto the market through usurious lending, aiming to create asset bubbles, only to stop lending a little later to create a deflationary crash when people pay off their loans.
It is exactly the same way they create the boom-bust cycle with paper based money.
Just look at what they are doing to Gold today. They have been doing this forever.
The Golden Calf is the archetypal symbol of avarice, the Money Power is unthinkable without it.
We want Interest-Free Money!
Babylon is Usury
Babylon is Usury
Jesus admonished us to lend freely, expecting nothing in return. The Vedas abhor usury. Moses forbade it. Half of the Q'uran is Allah threatening severe punishment for those taking Usury.
Money is bookkeeping. We don't need interest for savers. The bank doesn't need savers. Debit and Credit are the two sides of the coin in bookkeeping. They are automatic.
Yes, the volume must be managed, but that is unavoidable. No monetary system can exist without managing volume. The problem is not management, it is allowing vultures to do it.
The reason we have a boom-bust cycle is because we allowed private parties, banks, to manage the volume in their own interest. They set up Central Banks to create the illusion of 'officialdom'.
Saying 'the market must do it' is saying the Plutocracy has been doing a good job over the last 5000 years.
We want interest-free mortgages, no income tax, no poverty. We want abundance, good will, a cultural rebirth, fairness and the end of Plutocracy.
Budget of an Interest Slave
The Problem is not Debt, it’s Interest (with Video)
Meet the Real Deal: Michael Hoffman on ‘Usury in Christendom’
The Fight against Usury by Juri Lina
Why we need Monetary Innovation by Margrit Kennedy
How Usury Encloses the Commons
The Plane Truth: Usury and the Rise of the Bankster Dictatorship