Mr Osborne’s Bew Pound Design Challenge
Currencies / British Pound Oct 12, 2014 - 06:10 PM GMTBy: Submissions
Tom Naysburn writes: I was excited to read about Mr Osborne’s new design competition, so I decided to submit my suggestion. I am conservative by nature, I dislike waste and excess, and see untapped potential everywhere, but I don’t expect that to sway his decision.
UK politics has been going really well, if you like diversion away from the real issue of our time, the indebtedness and our fiat currency. Talking about anything else is a side-show. Politics has become all back to front. To the fore, is who can be the slickest player in town, the suit, the make up, the designer dress, the bland irrelevant language, how convincingly they can kiss their wife at conference or not answer the interviewers question. In the background, hidden, is the judgement, the deal making, the vision, the decisions, the conviction, the substance, the plan. People have seen through the actors and tired old script, while the real show, the main event, is private admittance only. Until this changes, nothing will, and we will continue to drift from farce to folly under the sophisticated editorial guidance of the media.
The root of people’s disaffection with politics, politicians and the state of the nation, is the lack of balance they see everywhere, the unsustainability of almost everything we do: the consumption, the population, the climate, the government debt, the resources, which when gone, are gone forever. Everything requires balance, in argument, in reason, in consumption, in nature, in life itself. We must return a sense of balance, a perfect equilibrium. <see sustainable capitalism>
Unlike Mr Osborne, most people don’t realise, due to lack of time, family, or other work commitments, that in our financialised nation, everything comes down to economics and money. Economics, the study of the mind in the matters of pounds and pence, and since we value everything in pounds and pence, economics is us, we are economics and our economics is unwell.
Our money is borrowed. Our money is debt. Our debt is paper. To borrow, to spend today what we cannot currently afford, to live the “high-life” but to be paid for tomorrow. They say tomorrow never comes, but when tomorrows are accumulated they add up to a lifetime, the next generation, the weakest among us, the children of the nation.
The current state of our fiat system is bordering on usury. History warns us about diminishing numbers of asset holders and a rampant rentier class. All sense of balance lost. The unbalance can be seen clearly when you look at the current interest rate environment. With nominal rates standing at 0.5% and interest rates equating to the cost of money, the spread of prices for individuals has become excessively wide. I may be able to borrow against a property at 5%, but many can’t borrow at any price, let alone wonga rates.
If money really does grow on trees, and is merely a printed piece of paper backed by nothing but a promise from people the public do not trust, why don’t we harvest all the trees and print “loadsamoney”, especially while interest rates are at historic lows? This is the Keynesian, Socialist, Labour party way to ruin. Considering we still have a deficit approaching £100bn should our money, and by extension our politics, really continue to be a confidence game, between the politicians “the players” or the deceivers, and the general public, “the mark”, or the deceived.
Few may have the facts, but many have feel, that ability to see “the right of a thing” but not know exactly why. That is why confidence in politicians is at an all time low, they feel the deception, and they know its not working for them. Things will not change until our money is made sound and well again.
Our money has to be limited in some way, not just by the amount of pulp in the world, for it to get better again, to form a new certainty. Although gold is a thing of the past, with which we shouldn’t look back, it’s supply was genuinely limited by hard work and scarce supply. Is it beyond belief, we can’t think of a modern substitute, maybe something like the debt itself, such as committing to a GILT ceiling, a real 10 year plan? In doing so, we can make our money valuable again, a new confidence to start a race to the top, not the bottom, with which we can afford to go out and make new friends around the world, and do what we do best, trade.
By Tom Naysburn
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