A Social Invention: It is becoming increasingly obvious that we as a species need to be more far-sighted with respect to energy-sourcing and distribution. Many people are starting to recognize the pressing need for a transition to hydrogen as the main energy source for the world. My suggestion takes this move one stage further: proposing that the world economy be based on hydrogen; that all countries in the world should adopt a hydrogen-based monetary system. This will free us from monetary systems which are bound up with debt-based banking, and oil and its distribution network, and ensure that the world moves more swiftly to renewable energy sources. Hydrogen could provide a way to organise human economic activitymore justly than ever before if adopted as a monetary unit. A renewable energy unit measured in the SI System of measurement as joules could form the basis of a currency backed by stored hydrogen. Any individual, corporation or government that generates and stores hydrogen from renewable energy sources would, in that productive act, be creating backing for this new currency . The primary energy producers, whether individuals, businesses, large corporations, and/or governments worldwide would become the creators of currency in a new, decentralised banking structure. Banking would essentially be the process of accounting for the production, storage and use of the hydrogen in the economy, and this would place energy as the fundamental wealth in society. Such a system would also remove the capability of governments to create money out of thin air by simply printing more of it, or the legal sanction given to bankers to create credit as money based on the debt we assume when signing promissory notes to the worldwide banking cartel. The proposed currency, backed by stored, renewably-produced hydrogen, would be circulated in the same way as currency is now. The value (i,e, purchasing power) of these hydrogen units would rise and fall naturally with the amount of hydrogen stored by the primary producers of any size or organizational nature. There is a built-in incentive/disincentive structure to this system,and the production of renewably-produced hydrogen is open to all actors in this decentralized scenario. A societys true prosperity, wealth, and well-being is intimately-connected to the available supply of energy. There is no reason that hydrogen could not be an inherentlly valuable monetary unit as well. It is the building block of the universe and could also be the building block of a division of labor economy.
Posted on: Wed, 10 Dec 2014 03:09:59 +0000
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