The challenge becomes how to make the provision of these basic human, social and urban needs equitably accessible and co-operatively plentiful for the communities as well as worthwhile and competitive for investors. Too often the existing or proposed solutions are relegated to the world of charities and NGO associations and do not become interesting to the powers-that-be except out of a sense of personal, or corporate, moral obligation or social commitment.

Thus, for a time currency to serve as “money” in the purchase of these basics, three simultaneous and non-contradictory roles are demanded of it: “it must function as a means to a) measure costs, b) foment exchanges and c) record transactions (a).”

This article tackles these issues and invites debate on the positions taken.

All private and business bank accounts retain the exact same amount of cash, but by placing individual serial numbers on these electronic dollars they become “real” in the same sense that paper ones are. Trillions of “derivative dollars” currently present on large investment banks Off Balance Sheet books become worthless because they are derived and by definition, not real. The remaining pool of money is clean, reliable and transparent. Since this new pool of money is much smaller, the value of each individual dollar is greatly increased.

In order to protect the purity of this new pool of money, the Federal Reserve will no longer be able to arbitrarily create money. The majority of Americans would be outraged to learn that the Federal Reserve Bank is actually a private corporation, owned and operated by twenty one, MOSTLY FOREIGN banks. These banks currently use the Fed to create cash for themselves while paying interest to themselves. The Fed operates cloaked in secrecy, with total autonomy, creating money with no oversight from the Federal Government. Serial numbers would make the 7.7 trillion dollars the Fed fabricated out of thin air for their 2008 bailout disappear, restoring the value of the dollar to its pre-crash levels. Serial numbers wrest control of the American Dollar from the clutches of unregulated foreigners and places it back in the hands of the American people whom it is supposed to represent. When banks need more cash they would now petition Congress. Bankers would present their case for a cash auction and it would be put to a vote. Banks would now pay interest to the government for their cash, lessening the burden of the American Taxpayer. The economy will be well served by having a static amount of cash to represent the goods and services it has the ability to produce. As the capacity of the economy grows, more money would be injected into the system by Congress reflecting an increase.

Banks’ secret electronic trading platforms now would be replaced by open outcry trading pits, effectively ending backroom market manipulation. A system of three main pits where brokers openly trade equities, debt and commodities would be outfitted with cameras broadcasting real time, worldwide for free. This will ensure all market participants equal access to information. Imagine the world’s greatest reality show that everyone can bet on from home.

Politician’s campaign dollars serial numbers will make all of their allegiances instantly visible. Regardless of where on the
political spectrum they lie, every American has a right to know what his candidate is going to do once elected. A politician’s true agenda is shaped in the interests of their contributors, not their constituency. Democracy is muddled into a sham when it lacks this transparency.

Serial numbers will cripple the finances of terrorist and criminal organizations by stopping electronic black money flows. Any illegal activity would become an all cash business. While this would not end crime, it would destroy enterprise criminal corruption, while at the same time making money real for honest people who really work for their money.

This new form of naked capitalism will insure pure liquidity through pure transparency. Regulation will come about organically, based on the simple fact that everyone can see what everyone else is doing. Serial numbers enable the American economy to work the way it was intended, honestly, transparently and with equal access to information.

The American Dollar is based on accountability whether it is on a computer server, or printed on a bill in your wallet. No institution should have the power to create, manipulate and devalue the dollar bill for which millions of people have put in an honest day’s work. A true American, capitalist democracy demands its financial, political and criminal framework to be illuminated by serial numbers.

We shall start with the most typical and important of financial phenomena, money, thereby illuminating various crucial traits and characteristics relating to the subject matter of this conference. It will be shown that the changeable role and meaning of money over time has had a strong impact upon the overall financial landscape, primarily by way of the weakening of the working and interactions of various financial activities. This analysis makes evident both the difficulty but also the urgency of restoring the exogenous character of the money supply.

We further focus upon the interest rate, underlining the nonessential role of this variable that, nevertheless, stands at the root of so many exasperating and destabilizing speculations.

Finally, we face the problem of how to bring into being a financial market that does not strive for mastery over production but is rather content to work in the service of production; we face the problem, that is to say, of how we can foster simpler and more transparent financial markets that are able to reconcile efficiency with social justice.