So the story goes:
“The eleventh round.
Once upon a time, in a small village in the outback, people used barter for all their transactions. On every market day, people walked around with chickens, eggs, hams and breads, and engaged in prolonged negotiations among themselves to exchange what they needed. At key periods of the year, like harvests or whenever someone’s barn needed big repairs after a storm, people recalled the
tradition of helping each other out that they had brought from the old country. They knew that if they had a problem some day, others would aid them in return.
One market day, a stranger with shiny black shoes and an elegant white hat came by and observed the whole process with a sardonic smile. When he saw one farmer running around to corral the six
chickens he wanted to exchange for a big ham, he could not refrain from laughing. ‘Poor people,’ he said, ‘so primitive.’ The farmer’s wife
overheard him end challenged the stranger, ‘Do you think you can do a better job handling chickens?’ ‘Chickens, no,’ responded the stranger. ‘But there is a much better way to eliminate all that hassle.’
‘Oh yes, how so?’ asked the woman. ‘See that tree there?’ the stranger replied. ‘Well, I will go wait there for one of you to bring me one large cowhide. Then have every family visit me. I’ll explain the better way.’
And so it happened. He took the cowhide, and cut perfect leather rounds in it, and put an elaborate and graceful little stamp on each round. Then he gave to each family ten rounds, and explained that each represented the value of one chicken. ‘Now you can trade and bargain with the rounds instead of the unwieldy chickens,’ he explained.
It made sense. Everybody was impressed with the man with the shiny shoes and inspiring hat.
‘Oh, by the way,’ he added after every family had received their ten rounds, ‘in a year’s time, I will come back and sit under that same tree: I want you to each bring me back 11 rounds. That 11th round is a token of appreciation for the technological improvement I just made possible in your lives.’ ‘But where will the 11th round come from?’ asked the farmer with the six chickens. ‘You’ll see,’ said the man with
a reassuring smile.” (Bernard Lietaer, The Future of Money)
^ Although this story is disputed and contended not to be how the real world works.
The vibe is set.
The island is not on Wikipedia. Yet. Maybe in another form?
Greed can serve a positive purpose in some contexts. One positive is that it’s a form of motivation. Greed inspires people to push for better social and economic outcomes than they have. Altruism is a better force for creating positive change, but it takes time to develop it.”
Anna Y.T. Chui
Well. Usury slightly more and more forces you to be greedy, or you’ll get punished. Of course. Slowly first.
AI Created: Artificial Intelligence talking about Usury.
Me: Is it possible that a society where usury is prevalent would lead to an individualistic and competitive culture where individuals are focused on their own self-interest and survival?
ChatGPT (jan23):
Yes, it is possible that a society where usury is prevalent would lead to an individualistic and competitive culture where individuals are focused on their own self-interest and survival. In such a society, people may feel compelled to prioritize their own financial needs and goals over those of others, as they may be struggling to make ends meet and pay off their debts. The pressure to make enough money to meet these financial obligations could lead to a focus on individual success and competition. Additionally, a society where usury is prevalent could lead to a concentration of wealth and power in the hands of a small group of people, creating a sense of economic inequality, which can further fuel individualism and competition.
Me: Is there more debt in the world, or more money?
ChatGPT:
There is more debt in the world than money. The total amount of debt in the world is much larger than the total amount of money in circulation. Debt refers to the amount of money that is owed by individuals, businesses, governments, and other organizations to creditors. This can include loans, bonds, mortgages, and other forms of borrowing. Money, on the other hand, refers to the physical currency and coins in circulation, as well as the digital and electronic funds held in bank accounts.
The global debt has been growing steadily over the past decades, driven by factors such as low-interest rates, economic growth, and government borrowing. According to the Institute of International Finance (IIF), global debt reached $255 trillion in 2020, which is equivalent to about 318% of the global GDP.
The amount of money in circulation, on the other hand, is much smaller. The total amount of money in circulation includes physical currency, coins, and digital money held in bank accounts. According to the Bank for International Settlements, the total amount of money in circulation (M3) was around $90 trillion in 2020.
It’s worth noting that debt and money are not mutually exclusive, and they are closely interconnected. Debt is often used to generate money and create economic growth, but it’s important to have a balance between debt and money, as too much debt can lead to financial instability.
Me: Who can benefit financial instability?
Financial instability can benefit a small group of people, usually those who are well-positioned to profit from market fluctuations and uncertainty. Some examples of who can benefit from financial instability include:
- Hedge funds and other financial institutions with large amounts of capital and sophisticated investment strategies can benefit from market fluctuations by making profitable trades.
- Short-sellers, who bet on the decline of a stock or market, can profit from a financial crisis by buying back shares at a lower price.
- Investors with inside information or privileged access to financial data can benefit by making profitable trades before the market adjusts to the new information.
- Some governments and large corporations can also benefit from financial instability by borrowing at lower interest rates or by taking advantage of opportunities to acquire other companies at a discounted price.
It’s important to note that these benefits are not evenly distributed and that financial instability can have detrimental effects on the general population and the economy as a whole. Financial instability can lead to job losses, reduced access to credit, and increased poverty and inequality. It can also lead to economic downturns and recessions, which can have long-lasting negative effects on individuals, businesses, and communities.
Buy the AI a drink (in holofuel)
Extra:
Wikipedia:
- https://en.m.wikipedia.org/wiki/Bernard_Lietaer
- https://en.m.wikipedia.org/wiki/Selfishness
- https://en.m.wikipedia.org/wiki/Self-serving_bias
Affiliate:
Books:
- “The Future of Money” by Bernard Lietaer
- “Debt: The First 5,000 Years” by David Graeber
- “The End of Alchemy: Money, Banking, and the Future of the Global Economy” by Mervyn King
Documentaries:
- “The End of Capitalism as We Know It” directed by Tim Jackson
- “Inside Job” directed by Charles Ferguson
- “Money for Nothing: Inside the Federal Reserve” directed by Jim Bruce
Movies:
- “The Big Short” directed by Adam McKay
- “Margin Call” directed by J.C. Chandor
- “Wall Street” directed by Oliver Stone
Series:
- “Money Heist” created by Álex Pina
- “Billions” created by Brian Koppelman, David Levien, and Andrew Ross Sorkin
- “Ozark” created by Bill Dubuque and Mark Williams
Songs:
- “Money” by Pink Floyd
- “Can’t Buy Me Love” by The Beatles
- “Material Girl” by Madonna
Artworks:
- “The Physical Impossibility of Death in the Mind of Someone Living” by Damien Hirst
- “Dollar Sign” by Andy Warhol
- “False Profit” by Banksy
Podcasts:
- “The Secret History of the Future” by Slate and The Economist
- “Freakonomics Radio” by Stephen J. Dubner and WNYC Studios
- “The Indicator from Planet Money” by NPR
Purpose: to evolve and create new knowledge
Would you agree…
#Usury #UsuryC #UC003 #UC004 #UC005
Usury 
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