The general economic perception of debt and credit is backward focused. In
this backwards focus financial credit is issued for a specific purpose whereby
it becomes accounted as debt, which ideally becomes extinguished by the
'profit' derived from the purpose for which the debt is created. This
monetarist perception is backwards focused. On this train the whole world has
collapsed itself economically.
The real debt that society owes to itself is never financial.
It is physical. If a critical need exists in civilization, the lacking
fulfillment of this need is a debt that society owes to itself. This debt is
choking society until society's obligation to meet its need is fulfilled.
Since this debt is physical, society needs to issue itself financial credit to
built the infrastructures that are required to meet the need. Once the
building is completed, the debt is extinguished. No debt remains. Society is
richer by what it has built, instead of being poorer as it would be seen
according to the monetarist perception of debt.
Let's look at the example of satisfying America's water needs.
With the increasing drought conditions that are presently resulting from the
ongoing ice age transition dynamics. America owes it to itself to meet its
critical and increasing water needs for agricultural irrigation. This
unfulfilled debt is choking the nation with increasing food scarcity. The debt
becomes extinguished when the water supply infrastructure is built. When the nation issues credit to itself to build the needed water supply system, the
process of issuing credit for this purpose becomes a process of extinguishing
the debt. When the water supply system is built and operating, the real debt
obligation is fulfilled and the entire nation lives a richer life with more abundant
food resources, and so on.
I am using this example because freshwater production is
easily accomplished. The technology for Reverse Osmosis Seawater Desalination
has existed for years, though it is poorly used. In commercial systems
seawater is forced at high pressure against tight filters that allow water
molecules to flow through while blocking the larger salt ions. For the sake of
efficiency and to keep the operations small in size, commercial systems apply
typically 300 psi pressure and more. It takes a lot of mechanical energy to
produce this pressure, which makes desalination 'expensive.' However, this is
a poor application of the principle involved. If one places the desalination
filters into deep ocean facilities, at the depth of 5000 meters, which exists
only 600 miles offshore from California, the 2.2% weight differential between
salt water and fresh water would power the entire desalination process by
itself. The weight differential would produce upwards to 150 psi operational
pressure differential, enough to operate Reverse Osmosis Desalination on a
large scale. The process, if it was implemented, would cause rivers of fresh
water flowing out of the oceans. The volume of water produced is a function of
the size of the infrastructure, and is therefore unlimited. The materials to
implement the process do exist in vast amounts, most of which is laying unused
on the ground. The technologies likewise exist, and the labour force to built
the system exists in abundance. America owes it to itself to meet its water
needs in the most efficient manner possible. It owes this obligation as a debt
that will keep on choking the nation until this debt is extinguished.
principle is rather simple. The more society builds, the richer it becomes.
Once this principle is understood, society will no longer ask, what will it
cost. Instead, the question will be, what can we build as human beings that
enriches our existence on this planet. The greater the projects are, the greater
will the benefits be. Then we will built the floating bridges across the equatorial
sea to link the continents and extend floating agriculture from them that
automated industrial production can easily create, produced out of basalt
reshaped in high-temperature nuclear powered processes. Then we will, with the
same processes, fulfill the housing needs of humanity with almost no cost and
effort involved. The current debt that society owes itself to furnish high
quality housing for its cultural and intellectual self-development will keep
on choking society until this debt is extinguished.
has fundamentally nothing to do with meeting this debt obligation. The
technology for building hundreds of millions of new high-quality houses has
existed since the 1950s when the Liquid Fluoride Thorium Nuclear Reactor was
developed, tested, and the put on the shelf. The USA, all by itself, has
900,000 gigawatt-years of fuel for such application sitting unused on the
ground. Likewise the USA has enough basalt sitting on the ground to cover its
entire land area more than 10 feed deep with it. All the resources exist for
society to cover its debt fully in unfulfilled housing needs. It only needs to
muster the will to extinguish this debt, which is easily done by simply
extending the financial credits to get it done. Credit isn't money in this
context, but a commitment to extinguish the debt.
relationship between debt and credit is understood and acknowledged the
current danger of war will continue, because without this understanding the thievery
system, which the modern monetary system is, will continue and nothing
productive will be built. On this monetarist basis of unfulfilled debt
obligations society will be unable to meet the huge physical challenge of the
ice age transition that is already in progress by which most of its northern
agriculture is endangered for which new infrastructures will need to be built
in protected areas of the world, primarily in the tropics. To meet this
challenge is probably the greatest debt obligation that society owes to
itself. If this debt is not extinguished in the near term, humanity will
perish by the chokehold of its unfulfilled needs.
The ice age
transition is not optional. It is imperative. It is moved by astrophysical
electrodynamics processes over which humanity has no control. Thus it becomes
a debt to society to free itself from the imperial chokehold on science that
defines all astrophysical phenomena as gravity forced and blocks the
recognition of the electrodynamics forces that operate outside the gravity
domain and in conjunction with it. Without this debt becoming extinguished,
which presently chokes science into dangerous impotence, the human future is
gravely in doubt. It is not possible to recognize the ice age transition
dynamics without the recognition of the causative processes, which are
exclusively electrodynamics in nature. Without the outstanding debt in science
that society owes to itself it goes on dreaming that the ice age transition is
still thousands of years distance and remains unprepared for it until it is
too late to react.
We, as human beings, owe all of these above
mentioned debts to ourselves, and will keep dying as slaves under their
chokeholds of many different types until these debts become extinguished by
the needs becoming fulfilled that these debts represent. For as long as we
regard debt and credit as aspects of a financial system, as we presently do
under the monetarist system, we are doomed to remain impotent by this failure
of perception. In real terms debt and credit are essentially spiritual
concepts related to meeting the human need. They are aspects of human
creativity, which is a spiritual quality of great power that no one can
quantify, which gives the physical creative building its wings.