Uplifting The Human Monetary and Economic Systems

Uplifting the Human Monetary and Economic Systems

     Part 2 of a 3 Part Series – “The Three Most Important Changes to Uplift Humanity” by Michael Krajovic

                  Part one of this article emphasized the absolute importance of raising human consciousness and the power of collective human intention for human advancement.  This process of raising consciousness is underway and has been for thousands of years.  As the human race begins to awaken at an accelerating rate, now is the time to start moving to the next step in human evolution and update the world’s dysfunctional operating systems.  The first system that needs to be updated is the monetary system.  Since money is needed in our current world to do just about anything, monetary policy impacts just about everything.  It is the underlying reason for many of the world’s problems which seem to be unsolvable.

            Most people have heard of economics and types of economic systems and philosophies like capitalism or socialism.  But underneath the economic system is the little understood and often hidden world of the monetary system. Though hidden, it is the most important manmade social system which serves as the foundation for all economic activity and controls all economic processes.  More people have recently become aware of the term monetary policy due to the world’s growing economic crises.  Preferring to stay in its role as the controlling back seat driver of the world’s economic activity, it has been forced into the limelight to become more visible as the world’s economic systems begin to fail and people begin to search for answers.  It is most often the reason behind conflicts anywhere in the world, why there is not enough money for education, to prevent environmental degradation, to feed the poor, for health care, for solving just about any local or world problem.

            This subject is of such critical importance to the world, that it is worthy of an entire book for thorough examination.  However, as an introduction, this article will focus on why it is important and why it must change.  Just like waking up from an unconscious sleep, humanity must wake up and realize it is using an economic system controlled by underlying monetary concepts that are hundreds of years old that have outgrown their usefulness and which are no longer working.  These concepts were created by mankind at a time of much lower consciousness.  Now as we enter a more civilized period of higher human consciousness, it is time for mankind to modernize is monetary and economic systems.

            Unfortunately, most people and governments around the world are not even considering the possibility that these systems could change.  Combined with the fact that those that benefit from the current system don’t want it to change, most economists and financial experts are not even aware that there could be a shift in the basic fundamentals of the world’s monetary and economic policies.  As a result, they are devoting all of their effort at trying to make the current systems work, but quickly they are running out of options using either old or new tools due to the inherent underlying flaws in the system.  These tools which we hear economists talk about include interest rates, inflation, refinancing, loans, notes, bonds, debt, taxation, government spending, currency rates, trade laws, market regulations, investment, reserve notes and recently quantitative easing.  Banks, national central banks, the global International Monetary Fund (IMF) and World Bank, along with national governments are the organizations that use these tools and set polices in an effort to manage and operate these systems.  But when using this system with this set of tools, changes will mean social hardship for someone.  This is one of the main reasons countries and economists cannot agree on what to do since one segment of society’s gain ends up being another’s loss.  The other is complexity.  While they have made the global system very complex, they cannot correct its fundamental design problem.  As stated by the famous American economist John K. Galbraith, “The study of money, above all other fields in economics, is one in which complexity is used to disguise truth, or evade truth, not to reveal it.”  It is like being stuck trying to fix an old telegraph machine with a multitude of different nuts and bolts, screw drivers and wrenches when what the world needs is something fresh and entirely different like a faster wireless smart phone.

            With globalization these antiquated systems have also become interconnected and interdependent, far more than realized until after the economic collapse in 2008. An economic problem in one part of the world now impacts the entire world.  Surprising, even central banks, such as the United States Federal Reserve Bank, turned out to be international, computer generating trillions of bank reserves or credit, (or if they are in paper form -Federal Reserve Notes or credit which is used as a form of money) to shore up the accounting statements for many banks and corporations from other countries around the world.  This was done to prevent more financial defaults and a much greater worldwide economic recession.  When the monetary system is just one big computerized accounting system, it is as simple as typing in numbers on a computer to create more credit or what society knows as money.  All of this is made possible by the backing of the working public or taxpayers who accept it as currency, the symbol of wealth, and who by design are unknowingly the guarantors of the financial institutions who control the monetary system.  The fear of a new world order of one world government in the 1990’s was misplaced as the new world order of one global financial market was quietly installed by global financial institutions who gained control of all economic activity worldwide. 

        While economists look at the primary trigger point for the 2008 collapse as the sub-prime housing mortgage crisis in America which was basically an excessive issuance of credit, they missed the larger point of the rising debt levels around the world which should have been a signal about a much bigger problem with the system.  Since the monetary system’s methods of debt, borrowing or lending are the financial building blocks for economic growth, they are assumed essential, therefore, never considered as something that can be changed.  Because growth is needed to sustain economies, and debt or borrowing is needed to sustain growth, debt levels must increase in size over time using the current monetary system.  The compounding amount of debt worldwide can be witnessed in nearly every economy and government as it reaches record levels worldwide.  This is usually shown as national government debt in relationship to national gross domestic output or GDP.   The crisis finally emerges because debt reaches a point to where there are no more credit worthy borrowers, whether they be single individuals or national governments, to continue fueling economic growth needed to pay back the debt already in circulation.  Using the world’s current monetary system, this is inevitable.  It is as if humanity is stuck using wood fires as its only source of heat.  As population grows, the demand for wood steadily increases to the point where the fires get bigger and they start running out of fire wood.  After all the dead trees are used up, they start cutting the live trees until there are no more left and the fire gets smaller until it finally consumes or burns itself out.   Using debt, or whatever appropriate form of credit, as fuel to grow the fires of economic growth always consumes more than it puts back making it an unsustainable system.  This trend could be witnessed with the deregulation of lending and the proliferation of credit cards, mortgages and commercial loans worldwide.  Making credit more available was needed to keep the economy growing for the last 10 to 20 years.  It may work for a few years and fuel a large economic expansion, but it cannot be sustained.

             In a repeat of the same cycle, financial institutions are now racing to developing countries which represent new, virgin opportunities for issuing more credit.  Their economies are growing for only one reason – they have natural resources to sell to other countries like China and America.  The boom they are having will eventually fade and turn to a bust as their resources are depleted.  But for now, whether it is in India, Mongolia or Brazil, there is a rush to market new consumables to the local people using sophisticated western advertising methods.  As the local people are convinced of the need to have new products, some of which would improve their quality of life and others to satisfy their egos, their banks are more than willing to extend credit to fulfill their need for instant gratification so that they can extract a fee for each purchase.  Just as in the west, higher levels of credit will be issued until debt levels increase to the point it becomes over saturated and the economy stalls due to a lack of consumption. 

            Eventually rising debt levels create cash flow shortages in the economy which creates intense pressures on humans to compete against each other resulting in massive financial stress and conflict worldwide.  The monetary system of generating more debt is the most important human social operating system that must be changed if the world is to uplift itself from its unsustainable and self destructive path.   If not addressed, it will eventually lead to an economic collapse as is beginning to occur, or something much worse.  Paradoxically, as this system forces division within humanity, like most social problems, it can only be solved through cooperation.  Given that the monetary system has been adopted worldwide, this cooperation must be on a global scale.  This creates a great challenge for humanity.  This then is why it is so important to uplift human consciousness if the human species is to begin updating its design of social operating systems.

            And this system can change because it is simply predicated on a choice.  In monetary terms, this is a choice made by society to accept bank notes( Federal Reserve Notes) as the representative symbol of value rendered.  But as is being explained here, what human society uses as currency really does not truly represent expended human energy used to contribute value to society.  Though it may be used as such by society in micro-transactions between individual parties such as someone giving a $20 bill to a neighbor in exchange for their labor of doing yard work, it is not the same at the national or global macro-economic level.  This makes it very difficult for the average person to understand how the larger monetary system of bank credit really works and how it will ultimately fail to create a peaceful and sustainable human society in balance with the planet’s natural ecological and resource capacities where it can work for everyone.

            This “modern” concept of monetary policy and central banking is actually hundreds of years old and began with the formation of the Bank of England in 1694.  It started out as private investors lending money to government which could levy a tax on people to pay it back. Subsequent refinements through additional authority, legislative acts, rules and regulations over the last three centuries years have led to the current financial system of credit and debt that the world uses today as money.   It nothing more than a complex, computerized accounting system of credit of who owes who in society.  Since it is all based on loans or credit, the monetary process forces the rest of the world which produces tangible and meaningful products for society, to pay banks interest and other fees to use it.  It is nearly impossible for an individual to exercise their free choice to start new enterprises without having to accept the demands for financial returns of the banks or investors who want a share of the individual’s earnings.  

            While economics is about the production, management and distribution of tangible products and services, monetary policy is about the banking industry controlling and extending credit to profit from the economic activity of others who provide tangible value in the real economy.   As explained earlier, economies require more debt or financing to fuel their growth, which in turn requires more economic growth to pay back the debt, creating a never ending spiral of compounding debt.   With this system of debt, only a growing economy can be a successful economy.  It is the only option available for this type of monetary system to work which is at odds with the fact that the world needs to stop consuming so much in order to survive.  Unfortunately for the bankers of today, the original bank designers of the monetary system never considered that the physical world was finite with only a limited capacity for growth.  A system dependent upon on infinite growth cannot survive in a finite world without destroying both itself and the world it is ultimately dependent upon to survive like a fire that eventually uses up all of the fuel needed to sustain itself.  Or just like any cancer, it will eventually kill itself by killing its host.

          During this life and death cycle, the monetary, banking and financial systems simply operate a process of wealth extraction through the interest charged on the debt and credit it puts into circulation as money.  While it will not be discussed in detail in this article, equity investments are often even more wealth extracting than debt, demanding higher rates of return.   The investor uses his/her own wealth, and the banker uses money he/she creates out of thin air which is explained below in greater detail.  Both are part of a process where those who control access to credit, or what we use as money, can extract wealth from economic activity in society by playing the role of investor or lender without ever having to contribute any reciprocal, tangible value back into society to earn it.  These processes represent the largest wealth redistribution program ever perpetrated upon on humans by humans. These statements appear harsh and condemning, but they are not intended to be.  They are factual observations of a system that most of the world is not aware of how it works and in nearly all economic discussions, it is simply ignored.

                    Human society has created a modern, complex form of this 300 year old monetary system through an elaborate accounting system of credit, where money is used to represent debt.  For example, the Federal Reserve Bank debt notes are what the American people use as their currency, which they back up by the guarantee through their own US Treasury as tax payers.  That is why it says “Federal Reserve Note” on the top line of all US paper currency along with the signature of the US Treasurer.  This is why people don’t understand why their country has to borrow money when supposedly their country has the sovereign right to print its own money.  What their national treasury prints are actually bank notes for the use and profit by the banking industry.  This is why financial institutions are more powerful than governments.  This may be difficult for some people to accept so here is a rare quote from a bank executive, Reginald McKenna, 1863-1943, the former president of the Midland Bank in England, “Those who create and issue money and credit direct the policies of government and hold in the hollow of their hands the destiny of the people.”  They control the supply and use of money through the monetary system, and therefore can control all economic activity.  This can be summed up in another quote this time from the government side by James A. Garfield, the 20th President of the United States – “Whoever controls the volume of money in any country is absolute master of all industry and commerce.”  But what he saw in the 1870’s was nothing compared to what is occurring today.  The government may have input by appointing the chairman of the Federal Reserve Bank, but its purpose is to serve the banking system and their shareholders.  This is the priority of central reserve banks with the understanding if the economy does well, the banks do well by having a monopoly to profit from the control of the country’s money supply.  This seems like a compatible purpose. It should be no surprise then that central banks and governments work closely together.  They both want the economy to grow.   In the United States, the much larger US Treasury building is located directly next door to the White House in Washington DC with the World Bank, the IMF and the Federal Reserve Bank only a few blocks away. No other private sector industry has the same access to the country’s seat of power as the financial industry.

             This does mean that all people working in the financial industry are bad people.  Nearly all are just doing their job working in an essential industry needed to currently operate the world.  There is no other alternative at this time.  But the argument still stands that when observing from a maco-level perspective, by using the world’s current monetary and financial systems, the workers of the world who actually produce real goods and provide real services are forced to use a system of credit or investment recognized by society as “money” which allows the financial system to extract value from them and society for using it.  It is why those with money can make more money leading to the growing gap between the wealthy and poor at an exponential rate due to the mathematical effect of compounding interest and/or rates of return on investments.  This extraction of wealth without adding any real value continues to accelerate as world debt levels increase.  The interest charges occur on loans, credit cards and bank fees in various forms.  This includes all credit whether with individuals, companies, towns or countries.  The world’s economic system nears collapsing and the monetary system is imploding upon itself as too much of the world’s economic activity is now based on the growth of the financial systems which do not add any intrinsic or tangible value to society. 

           Now that debt levels are beginning to become oversaturated and the real physical growth is slowing down except in developing countries that have under developed natural resources to sell, the financial system has had to turn to other methods to increase profits.  Complex instruments such as derivatives are used to hedge bets or risks as financial insurances.  It is used by corporations, investment funds and governments who want to protect their investments from wild price swings caused by speculation.  But this too is a form of speculating through various forms of hedges.  Meanwhile each trade or purchase represents a fee to the financial industry which manages the system.  The total amount of trades in the derivative markets are approaching one quadrillion dollars (one thousand of one trillion), many times more than all of the money in the world!  This purchasing of insurance on top of insurance on top of insurance has created perhaps the largest method of creating “phantom” wealth that provides no real or tangible value on a massive worldwide scale.  All of this is dependent upon the stock market system where hundreds of billions or trillions of dollars of this “phantom” wealth can appear or disappear within a few hours.  All of this financial performance and wealth ultimately boils down to depending upon the earnings from real people providing real value to society.  Continuous wealth creation without providing any real value to human society will only accelerate the decline of the current systems.

           One final, but significant point needs to be made to better understand how the “modern” monetary and banking system works. To the surprise of most people, lending as practiced by the world’s financial institutions does not involve lending out money.  This is a very difficult concept to accept for the first time because it appears not to make sense.  After all on a micro-economic level, two individuals will actually lend each other $20 of bank reserves, but people must understand that those bank reserves or notes that society uses as currency were already put into circulation. Banks don’t lend out their own money as new currency, nor do they lend money from what has been already deposited into the bank.  This may be difficult to accept, but it is actually very simple, in fact very simple as quoted by the famous American economist John Kenneth Galbraith – “The process by which banks create money is so simple that the mind is repelled.”  Only being able to lend out existing money would make it impossible to fund compounding economic growth.  If the banks can only lend out money that people deposit, where does more money come from as the population and economy grows? 

          Some say the government prints it.  But if the government can print money, then why does the government need to borrow money resulting in so much government debt?  And if the government just prints it as is commonly believed, this should lead to a devaluation of currency and hyperinflation.  Since this is not what has happened with the growth of the world’s national economies, where does new money come from?

             This was the same issue faced by Alexander Hamilton as the first treasurer of the United States under President George Washington in the 1700’s.  How was the new country going to fund its growth?  What system could be used to increase the money supply while generating public trust?  Hamilton chose to install the Bank of England’s system which Thomas Jefferson vehemently opposed.   Jefferson’s feelings on this matter could be expressed in this earlier quote, “The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” Hamilton’s system could work and did work for a few hundred years until America’s resources started to become depleted combined with the inescapable compounding of debt, where the long term wisdom of Jefferson emerges vindicated.

             Today there are far more people living on the planet than two hundred years ago and the average salary and net worth per person has increased many, many times.  So where does all of the additional money come from?   There is a fundamental misconception in the world about this question, self perpetuated by the banks themselves.  To clarify, banks do not lend out their depositor’s money to other people and businesses.  They are prohibited from doing this through regulations of the financial industry.  It would require legal authorization by the individual depositor through a publically disclosed prospectus according to securities rules to notify the depositor that they were lending his/her money out to someone else with certain risks just as if they were investing their money in a mutual fund.  Upon checking the balance sheet of a bank, which is mirror image of the other side of society’s monetary system of credit accounting, deposits are liabilities and loans are assets.  Deposits are what the banks owe the depositors and loans are what the borrowers owe the bank.  This is just a mirror opposite for individuals where their loans are liabilities and their deposits are assets.  It is what makes the bank’s accounting system of credit work.  Another way of saying this is that the banking sector is financially rewarded by increasing society’s liabilities.

             When banks speak of making investments, they are speaking about using their shareholders’ equity or profits from loan interest or fees, not deposits.  In fact there is actually no real money on deposit in the bank as there might have been hundreds of years ago when the early banks did not have computers to keep track of deposits.  There might be a very limited supply of Federal Reserve Notes and coins on hand in the bank vault for people that want to carry “cash” instead of their check book or now bank card.  Banks simple store the deposit number in their computerized bank system to keep track of who is entitled to what numbers in the computer. 

            In order to create new money to grow an economy, banks function as the local franchisee of the monetary system that is allowed to extend new credit or in other words, lends new money into circulation through a regulated process controlled by a nation’s central bank such as the United States Federal Reserve Bank.   At the point a borrower signs the bank’s loan documents, new “money” is actually created when the bank deposits “new money” equal to the loan amount into their account through a simple computer entry.  So actually what we call and use as ‘money’ is just a form of credit or debt put into society for circulation that began with some borrower’s promise to pay back what the banks did not have to lend in the first place, plus interest.  The banks only extended credit.  Money’s value is simply based on a manmade perception to accept it as having value to trade for real material things.  It is based on trust and is why most former bank and Treasury buildings like most government buildings were built using an institutional style Greek architecture which culturally symbolizes public trust. 

           Deposit is also a misleading word because the bank’s deposit of funds is actually just making an accounting entry into a computer.  This system of using debt as the only way to increase a country’s or the world’s money supply is the fundamental social problem facing the world today.  Mathematically, when debt is used as the form of currency, there is never enough cash in circulation to pay all of the loans back.  $1 borrowed and put in circulation does not equal $1 plus the interest on the loan that needs to be paid back.  $1 in principle does not equal $1 in principle plus + interest %.  This means that for every new dollar created and lent into circulation, more than one dollar has to come back out of the economy.  This creates one massive world problem that is at the root cause of preventing the solution of nearly every other social problem the world faces today.  Nearly all old religious texts warn of the dangers of usury.  In their wisdom or in their understanding of mathematics, they must have known that over time a system based on wealth extraction or compounding debt it could not sustain a civilized society.   While Thomas Jefferson was very suspicious of organized religion with all of its faults, he would have agreed. He said, “I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”   Jefferson would not approve of governments borrowing so much money.  Unfortunately they have no other choice with the current monetary system where cash, credit and debt are the same thing.  That is why a few of the people who understand monetary policy call our modern form of currency – credit money.  

         As the financial system takes a monetary cut out of all economic activity, the only solution to make up the shortfall in circulating cash to pay back all of the principle plus interest is to put more credit into circulation by increasing borrowing.  This creates the continuous growth of compounding levels of debt worldwide mentioned earlier.  For example in the United States like other countries in Europe, while everyone is worried about the national debt, the total debt in the country is nearly $40 trillion dollars higher.  It is important to look at the United States not only because it is the world’s largest economy which impacts the rest of the world, but because it represents what other countries are trying to become.  But around the world including inside the US, people are beginning to realize that the US economic model of success is no longer working.  Total US debt equals about $53 trillion which includes all personal, business, municipal, state and federal debt.  This requires approximately $2 to $3 trillion in interest to be paid back that was never put into circulation each year.  The shortfall has been made up in the past by liquidating other assets such as natural resources or as resources become scarcer, taking it from someone else by out competing them for it.  It is why the US has been so globally dominate acquiring and consuming the world’s resources.  Theoretically the monetary system of compounding debt can work in a world with infinite resources that can support infinite consumption by an infinitely growing world population.  But the human species through modernization and globalization, is beginning to realize that the planet it inhabits has limited resources capable of only supporting a finite level of consumption.  Humanity has reached the final crossroads where its monetary and economic systems which require continuous growth and consumption to function have caught up with the planet’s ecological and agricultural systems which have exceeded their regenerative capacities.  They are starting to fail, no longer able to function at the increased levels of consumption and liquidation need to pay off all debt in the world currently owed to bankers and investors.  While some technologists believe this problem will be solved with technology, it will only temporarily delay the inevitable which is a mathematical certainty. Unlimited growth and consumption is not sustainable.

          In summary, there are monumental problems caused by the world’s use of its current monetary and financial systems.  There is not enough money in circulation to create employment, educate children, feed the poor, pay for environmental controls, convert to renewable energy, clean up the environment , lift the world’s poor out of poverty, pay for health care, rebuild public infrastructure, etc. including paying back all of the debt.  In the United States alone, if the total combined debt of $53 trillion was distributed equally among all US workers to pay it back over twenty years at a 6% interest rate, the cost would be equal to approximately $30,000 per year per worker, more than they can afford.  With an average annual wage of around $50,000, and after subtracting taxes and other necessary living expenses, the country’s working class cannot pay it back.  And on top of this, out of each worker’s productivity must come what is owed to investors in each business, not just lenders represented in the $53 trillion figure.  Since it cannot all come out of wages, there have to be significant cuts in worker benefits.  Workers also get hurt losing their jobs as most mental energy is focused on researching technologies to improving efficiencies in order to reduce labor costs to help make up for the shortage of cash flow.   Imagine the difference it would make if the world’s research capabilities and technologies were focused on solving the world’s problems rather than trying to address the devastating effects from a self-imposed flawed monetary system!

            On a larger scale, the total debt in the United States far exceeds the annual US GDP of around $14 trillion per year and the difference is much greater when the financial industry’s portion of false “contribution” to GDP is subtracted out of the total national Gross Domestic Product.   While economists, analysts and politicians argue back and forth why the country’s economy is struggling, the fundamental system is ignored.  The monetary system and the banks that operate it, which can only offer more credit or debt as the economy’s only solution,  have become so embedded in our culture that it is overlooked, assumed it can be no other way.  Meanwhile it is why people cannot pay their credit cards, mortgages and taxes.  It is why property values are declining.  It is why there are not enough jobs.  It is why the world’s businesses keep fighting for tax breaks and cuts in regulation.  They are forced to compete against their business competitors for cash when there is not enough in circulation for both companies to survive.  This leads to more mergers and acquisitions and even larger and more powerful, multi-national corporations putting more pressure on governments for breaks and cuts.  It is why businesses layoff employees, move to other countries with cheaper labor or install new automation to cut labor costs to improve efficiency.  But most of these moves and cuts do not reduce the overall consumption rate which continue to diminish the finite resources on the planet.

           This is also why the government is having a difficult time collecting taxes in the economy and why there is not enough money in circulation to pay for social programs.  This is why some public officials are screaming to cut the size of government when more people have to rely upon government for support due to lack of opportunity.  When there is only so much money to go around, it forces competition.  This is not just an economic game where everyone plays to see how much they can make, but a game with real losers who end up with literally nothing.  Left to starve, they will go to war as the only alternative.  This is the path the world is on now. One of Haves and Have Not’s.   In the US, 20% of the population now controls 84% of the wealth.  This restricts cash flow to maintain a healthy level of economic activity for full employment.  But even the Haves will lose in the end, because the world will have either consumed itself out of existence or destroyed itself in warfare between struggling nations fighting for some portion of the world’s remaining resources just to survive.  They have no other choice.

          Many say the problem with the economic or financial system is greed – the obsession with material possession.  This is only partially true because our monetary system creates an environment of fear and destructive economic competitions which breeds, and in many cases demands, greed like behaviors to be successful in society.  I do believe it was greed that designed this insidious complex system of credit accounting to hide the debt generator machine that it is.  As the U2 song New Years Day says, “Gold is the reason for the wars we wage.”  The war has been between ourselves, our businesses, our communities, and nations instigated by a flawed monetary system.  Then there is the war within us.   As will be explained in Uplifting Humanity, human systems created at a time of much lower human consciousness result in human behaviors which are far below the divine nature of humankind and its potential to create more meaningful, happy and peaceful lives. This is especially true with the monetary system.  In the words of warning from the former US President John F. Kennedy speaking on behalf of all humanity – “The great free nations of the world must take control of our monetary problems if these problems are not to take control of us.”

         All of this can change starting with an uplifting of human consciousness, and a refocusing on higher intentions and aspirations for the human race.  If we want a peaceful, sustainable world where people experience greater freedom and happiness, we only have to change our minds and create new social systems.  In future articles, I will begin to describe what a new monetary system could look like.  It will be one that will provide full employment opportunities without requiring fear and competition for motivation, will maintain the world’s natural ecosystems without needing to liquidate all of the planet’s resources and will not be dependent upon continuous consumption and physical growth to function.  

         Changing it will be scary at first, as is all change.  To help make it easier, people need to be self-aware whether the fear is coming from trying something new or from personal ego that resists change because it always wants to be right.  We humans are creatures of habit and change is often difficult when it is blocked by self-righteousness.  We cannot let selfish pride of having to be right stop us at this critical point in human evolution as it has so many times in the past.  This way of thinking, which is only a mental construction of establish thoughts, has been the core reason behind so many of the world’s religious and social conflicts resulting in continual division when we need cooperation.  This desire to have to be right is only rooted in a fear of being wrong.  But this shift is not about being wrong or right.  It is about humanity making a conscious choice to change direction to improve the quality of the human experience, which is after all the fundamental reason for society to exist.  We can overcome this inner fear because the apprehension of slowing changing the world’s monetary system through prudent incremental steps will be far less scary than the obvious self destructive and divisive path humanity is now on using the current antiquated and dysfunction system.

            Right now I invite you to read the third part of this three part article dealing with human education systems.

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