Q: Do you really think 100 million people are gonna sign the Order and mail it in?
A: In the Order there is a stipulation that Congress can act on the Order even without a Majority of people sending it in. They already have the power to do this. I believe that if even 1 million people were to do this that Congress would take a look, and once taking a look, would chose this option. Also, were this idea to start trending, this would also cause Congress to take a look.
Q: You say we are only going to be accounting for the “minimal value” and not the “true value,” when and how will the rest of the value be accounted for?
A: Before people looking at this jump to conclusions about getting paid to go to school, the solution is about accounting for and directing the accounted financial energy of the student to all the educational staff. The students are, in essence, paying for their own educations, albeit in round about way.
That said, this discrepancy between minimal value and true value will be resolved when the knowledge is put into actual use after graduation. Also, the student’s full return on investment of their time and energy spent earning their diplomas and degrees may not always come in a monetary sense either. There is more to life than money and the best can’t be bought and sold, but sound knowledge can make a man worth his weight in gold.
Q: Is this just so a bunch of kids don’t have to deal with a student loan payment?
A: The goal is to introduce a novation in how education is funded in the US.
While many may express sentiments along the lines of “don’t fix it if it’s not broken,” (due to the fact the schools are still open and the kids are still graduating), they are ignoring the obvious issues many have raised:
- The US is 20 Trillion dollars in debt as of now. Granted, the education budget is a tiny fraction of this, but dealing with it is a major element of the Order.
- The past and current plan to pay it is: to continue to indenture the children ( ). Is forcing unborn children to pay off the National Debt a form of slavery?
- The need for educational reform is a growing concern and is almost always put on the back burner when the question of where the money is going to come from is raised.
- The teachers and other school staff not only need raises, they deserve them.
Q: Are you trying to say the Treasury owns a part of my brain?!?!?
A: Absolutely NOT! In the Order, the assets are explicitly stated as being the students intellectual property. This intellectual property is, by it’s very nature, unalienable. The purposes of registration are not for transfer of ownership, but to provide the ability to account for the value.
Q: Is this just a proposal to create “phony money?”
A: A very valid concern and one that will be raised by anyone who knows anything about money upon first looking at this work. The simple answer is: No.
As we all know, paper money was backed by gold and silver at one time. This has evolved, but our money must still backed by things of value due to the fact, that, if it is not backed it becomes fiat currency. At one time in US history more Notes existed than there was gold and silver to back them, and it is well known that this causes the paper money to become worthless. It is a very real problem and must not be allowed. This is also the fear people deal with any time someone talks about printing money.
As an aside, regarding the evolution of the monetary system, the reason the gold/silver standard had to be abandoned is due to the fact, among others, that because of the industrial revolution there was far more things brought into existence than there was money available to buy them with. There is simply not enough gold and silver in existence on earth to serve as the medium of exchange any more, unless we were to atomize it. Kindly forgive this oversimplification of why the monetary system had to be evolved, but I believe it captures the essence of the problem FDR was trying to solve for the USA with the New Deal, which also influenced the United Nations’, World Bank’s and International Monetary Fund’s policies.
So now, rather than limiting the medium of exchange to a finite object, we use a medium of exchange that can expand and contract as the cumulative value in existence in both the public and private sectors at any given moment expands and contracts. Granted, like anything it has it’s problems, but so did using gold and silver coins. Further, gold and silver are still used to back the monetary system even tho they are no longer the only things backing it.
Modern currency REFLECTS existing value, albeit imperfectly. That is the idealistic principle the worlds modern monetary system is founded upon. Whenever something of value comes into existence, money can and eventually does come into existence, and vise versa. That said, the money supply is always behind the actual value in existence due to physical limitations inherent in our ability to account for the actual value in real time. This has improved greatly with advances in computer technology.
One of the means that is used to support the creation of some of the money is based on the value of a promissory note (aka, a loan agreement), a promise of future performance. Someone convinces a banker that some time in the future, something valuable is going to be created. This promise is treated as if it has value, albeit, it also requires that the promised performance happens and usually requires collateral to secure the loan. The loan agreement is registered and money is created and given to the loan applicant. This is not the only way money is created, but arguably the most common way at this time.
But at the root of the creation of any money, there must always be something of value backing every Note.
So the real questions concerning if this is actually a proposal to create “phony money” are this:
- Is the proposal to create this money for the educational systems being backed up by something that is truly valuable, or is the claim of value phony?
- If the value actually exists, is it already being accounted for and supporting existing currency?
Obviously someone’s high school education is valuable. I don’t think any sane people doubts this (tho, it is apparent that no one has ever assigned a monetary value to it before now). Not only is the high school education of value to the student, but also valuable to the society the student is a member of. Further still, it is of value to the whole world due to what could be described as a ripple effect.
In light of the foregoing, this is obviously not a proposal to create “phony money.” Further, since these funds will not be being backed by a promise of future performance, but rather past performance, these funds coming into existence will be stable and without risk of what may or may not happen in the future.
Regarding liquidity of these assets, while we can be confident that the value exists, it is not the same as GDP, gold, land, loan agreements, etc.. In light of this however, I see no reason Congress could not legislate into existence (pursuant to the Order), a class of assets that can not be used as collateral (if one doesn’t already exist). While we will lose the ability to secure a loan based on these particular assets, we preserve the ability to account for their value. Yet, what is lost in liquidity is gained in stability and/or strength (due to the fact that the value is known to be minimal and not actual, and the appreciation of the asset – knowledge grows over time).
Q: In the Order, what do you mean by “lawful money?”
A: There are 2 main kinds of legal tender in circulation at this moment, Federal Reserve Notes (FRNs), and United States Notes. While both FRNs and US Notes are both legal tender, only US Notes qualify as lawful money. Further, US Notes provide some backing for FRNs. By law, Federal Reserve Notes can be redeemed in lawful money upon demand at any Federal Reserve Bank. Since the educational documents are assets being registered with the Treasury, and not the Federal Reserve Bank, they shall provide backing for US Notes. This will also serve, indirectly, to back Federal Reserve Notes as well.
Q: Won’t printing more money just cause inflation?
A: Inflation occurs if money is printed with nothing backing it, or if the value of assets backing the currency are exaggerated (it’s one part of what caused the recent problem in the housing market, the true value of the homes was over stated). In this case, the currency to pay for all the educational services will backed by the educational documents, and their value is set at a very conservative estimation of their true value.
Q: In the Order, you set the intellectual property value of your idea at 1/10000th (0.0001), can you be more specific what you mean by this?
A: For every $10,000.00 dollars in currency the monetized educational documents support, the value of my intellectual property increases by $1.00 dollar. According to the College Board, the average cost of tuition and fees for the 2015–2016 school year was $32,405 at private colleges, $9,410 for state residents at public colleges, and $23,893 for out-of-state residents attending public universities. So, using these costs for a single year as examples and presuming there are 3 students, this would add $3.24, $0.94, and $2.38 of value to my intellectual property’s value.
Q: Don’t you think it’s a bit greedy to set a value on your idea?!? Education should be free!
A: No, I don’t think I am being greedy. I didn’t set the value of my intellectual property and services at 1/3rd like a lot of attorneys do for their services. I didn’t even set it at 1/10th like many agents do, and even wait staff gets a fixed wage in addition to gratuity for their services. I only set the value of my intellectual property at 1/10000th of the value of the service I provided to the whole nation, and I get nothing unless people’s education is funded.
(As more frequently asked questions start coming in, this page will be developed further.)