The Everything List : TLDR
The elevator pitch - the Everything List in 700 words.
The world economy is a debt based system maintained through the action of credit creation. Although credit creation requires collateral backing, the value of the credit itself is not fixed against any tangible commodity. As a result all global currencies are ‘fiat’ which means their value is based entirely on the promise of governments to repay the loan which created the money on the first instance. All currency is simply an IOU to somebody else.
The irony is that just as credit creation creates wealth - debt repayment destroys it. Therefore stability can only be maintained through the constant creation of new credit which ultimately leads to a reduction in the purchasing power of existing currency (inflation) and an increasing burden of interest payments. Mathematically, a situation must inevitably arise when the interest repayment on the debt overwhelms the revenue raised by taxation leading to a sovereign debt collapse. Alternatively, the same situation occurs when credit creation finally erodes the purchasing power of the currency. It’s a simple race between these two inevitable outcomes.
Although the fiat monetary experiment has been attempted hundreds of time the only outcome has been monetary failure. History informs us that average life of a fiat currency is sixty years before this event occurs.
In the past there has always been a ‘lifeboat’ option, a stable denomination, such as the US dollar that you use to maintain your wealth, but in 1971 all the worlds currencies converted to a fiat standard simultaneously, so this time there is no lifeboat and 1971 was 55 years ago.
Over many centuries the ability to create credit from nothing and charge interest on the principal has allowed a powerful group of individuals and institutions to establish a power base that supersedes the sovereignty of nations. While the generation of wealth is not their primary goal, it is the basis of their authority and the forthcoming financial reset severely threatens that dominance.
To this end strategy has been put into place that will enable this group to maintain their authority across the currency reset and into the next economic cycle.
The new emergent system will also be fiat based but with certain adaptations that will allow it to withstand a future reset phase.
The principal modification to the existing debt based system is the creation of a unified digital ledger (The Everything List) which will convert all the worlds assets into liquid tradable commodities therefore overcoming one on the major limitations of the existing system - the fact that the creation of credit requires backing collateral and in the current system the asset base is finite and in many cases illiquid.
In its final form, every asset in earth, including humanity itself will have a digital representation - a token, which can assigned a value and traded like any other commodity. With a hugely expanded asset base the degree of credit creation could also expand which should allow the reset cycle to extend far beyond the current 60 years.
The other major aspect to the The Everything List is control.
Once everything is reduced to a token and all social and economic interactions are controlled by those tokens and as a result the groups managing the list control everything. In the current debt-based system authority is maintained through credit creation. In the new system control will be through token ownership, allowing the credit system, operating a level beneath it, to be reset periodically without the risk of a loss of authority.
The amount of data required to maintain such a list will be immense and the technical challenges highly complex but we shouldn’t make the mistake of believing it not possible. The technology exists and the framework of our new digital prison is being assembled.
The technology is not evil, only those who control it.