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Thread: The Congressional Order 101 initiative

  1. #11
    Quote Originally Posted by David Merrill View Post
    As I ponder this, cyberspace and cerebrospinal become numero-linguistically related. Gold is back in the system. It is the circulation at the speed of light inside the data silos, server farms and satellites. Light (fiber and radio) are conduit across the larger spaces - not to mention traditional conductive wiring.
    Like the internet is reflecting the nervous system... and server clusters are reflecting clusters of brain cells in the human being?

    I can see that in the "mirror" to a degree...

  2. #12
    There is a physical dimension we all tend to focus on. Maybe what I am trying to articulate is the verbal Operations. Idea sets and thought systems as rudimentary building blocks to the creative process. The Senate Report (PL 94-564) articulates:

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    Gold deposition on wafers for one example...

    China buys up 20% of the National Debt. Then they sell a bunch of bonds but certainly are not happy with a bunch of paper. Beijing is so polluted that people are anxious to get to America for their New Start of course and you will certainly find a large Asian population prospering on credit and a good education; built upon learning English as nearly the primary Chinese language. There is the willingness to commit the national mind to a capture.

    But how did Beijing become so polluted? Those clean rooms create a lot of high maintenance filth. I recall Honeywell SSID (Solid State Integration Division) the facilities manager asked me if I wanted overtime. I did - it turned out to be destroying just one chemical hood used for hydroflouric acid. Well I had to wear a bunny suit and respirator, covered from head to toe and I just chopped it up with a Saws-All and took it to the landfill. It was so off the reservation, me showing up with a destroyed chemical hood in a bunny suit and my face completely covered with a respirator and goggles the guy took the cash and let me in!!

    Meanwhile back at the ranch nobody blinked an eye about it.

    The other product of course is all that gold. The American Mind is captured better that Nebuchadnezzar ever did with Israel to create the Jew in Babylon. Look what the currency has become? What backs it?

    Special Drawing Rights - the measure of social conditioning to blindly endorse the private credit from the local central bank. It is entirely between the ears!

    But the gold goes into the hardware, driven by firmware and software and then finds a commercial conduit (eBay) fed by the information (Google search engine) so that this hardware (gold) becomes valuable enough to turn it around, and sell it back in its new form to America; "back into the System". Read the image above.

    Gold is back into the System alright. The Initiative in the Post Title is very real, all hardware aside. You can look at the data silos and server farms as neurons of a brain. Fine! I think that is accurate but I am speaking of an artificial mental dynamic that is as much an extension of the human mind as the architecture of your directories and keyword searches to find your way through posting and other communications, is an extension of how your personality is formed in your brain and memories.

  3. #13
    "Don't store up treasures here on earth, where moths eat them and rust destroys them, and where thieves break in and steal."

    Accounting for treasure is part of why we created a Treasury.

    Quote Originally Posted by David Merrill View Post
    There is a physical dimension we all tend to focus on. Maybe what I am trying to articulate is the verbal Operations. Idea sets and thought systems as rudimentary building blocks to the creative process.
    Much of the deeper reality of that is why I couldn't account for the true value of knowledge & education, or better said consciousness or Light.

    Besides... to abstractly represent That, with a medium of exchange, for a single Soul incarnated, would be to create infinite money...

    I think it is proper that to try and monetize the Soul would destroy any economy -- natural law working at it's finest.

    Even this tiny scrap of consciousness represented by degrees & diplomas being monetized was almost too much Wealth... If it wasn't for the Debt nullifying it (or better said, it nullifying the Debt), obviously $20+ Trillion Dollars entering circulation in the economy would have caused problems.

    Quote Originally Posted by David Merrill View Post
    Gold is back into the System alright. The Initiative in the Post Title is very real, all hardware aside. You can look at the data silos and server farms as neurons of a brain. Fine! I think that is accurate but I am speaking of an artificial mental dynamic that is as much an extension of the human mind as the architecture of your directories and keyword searches to find your way through posting and other communications, is an extension of how your personality is formed in your brain and memories.
    When we go back in to the ancient histories... even the concept of gold & silver having value, and how it became valuable in the modern sense is obfuscated. It's value was never founded in scarcity, but usefulness -- the scarcity doctrine was introduced much later.

    I presented the basic paradigm shifts without writing a book:

    Many people, when they think about money, are of a mind that the money is valuable. While this has some merit, the simple truth is that money represents the existence of something of value and inherits its value from the assets it represents. Money has been like this since it was invented. While that may seem strange and provoke some debate, you will find that the use of money of exchange in the form of tokens made of paper, wood, bamboo, etc.. as types of “warehouse claim tokens” for ancient city states’ warehouses occurred long before people started mining and refining gold & silver and striking coins. These tokens represented goods stored in the warehouses (like grain), and it was the goods in the warehouses that were valuable, not the tokens. The token could be exchanged in the barter markets as if they were a bag of the grain only because the token could be taken to the warehouse and traded for a bag of grain. It stands to reason that the use of metal tokens (like gold & silver coin), as the medium of exchange was turned to originally as a type of security feature to hinder counterfeiting of the warehouse claim tokens because of the difficulty of mining and refining it, not because it was scarce or inherently valuable. In fact, there is no evidence that gold & silver became valuable in the modern sense until being used by the ancient city states as the medium of exchange aka money of exchange. Even older than the invention of money of exchange is the invention of the ledger in very crude forms (tally sticks & hash marks), and the oldest form of money is actually money of accountcredits & debts on a ledger representing something of value, or something of value owed. This had been how the warehouses did things before the invention of money of exchange, which worked fine for a small community, but with a large city state you can see how quickly it would become an accounting nightmare.
    Gold & silver coin became valuable in the mind of ancient populations the same way Federal Reserve Notes became valuable in the minds of the population. People mistake the abstract representation for what is being represented... much like they mistake the persona of the government actor, for the human being. With gold & silver, however, they are unaware that the metal coin was the fiat currency of its day.. like Gold Certificates represented gold coin in modern times, in ancient times, gold coin represented grain in a warehouse, for example.

    Metal tokens certainly were more useful than what they replaced though, and usefulness is always a sound basis for inherent value.

    The actual invention of money precedes written history though.. and what we have are presumptions based on the best evidence and reason.

    I probably should not present that section so absolutely, BUT... the presumptions many people present just as absolutely, is that gold & silver coin was the first form of the invention of money... and they do not bother to really explore the topic... and those who do, many mistake barter economy and commonly bartered items (like beads and shells) as being forms of money, when it is actually still properly barter.

    Further, there is better evidence supporting the use of ledgers and that "money of account" was in use long before the more complicate thought process of using abstract representations of value in barter.. making hash marks on a tally stick or a clay tablet is a simpler mental process & invention, and therefore is more reasonable & likely to have come into existence long before warehouse receipt claim tickets were bartered in the bizarre for the things not stored in the warehouses.

    Barter is still the essence of all economy... but bartering abstracts is distinctly different than pure barter... and it is much easier to cheat people if it is not clear what the abstracts represent.

    Someone asked over at LinkedIn why the value of Bitcoins fluctuated... My answer was that the psychosis was being cured. As reality sets in, and the actual value of a Bitcoin came to the forefront of the mind of the population (which is $0.00 - it abstractly represents nothing of value, according to their site), and the price drops... then psychosis is induced in the population via propaganda of some kind and the price goes up... as more and more people cure themselves of the psychosis there will come a time when the population will become immune to this kind of psychosis being induced to a sufficient degree to make it impossible to sustain the hoax of crypto currency. This was the same problem Nations had that just started printing money out of thin air... eventually the population had a psychotic break and snapped back to reality.. and those economies collapsed.

    While there are a few doctrines of valuation, for some reason the simplicity of the doctrine of the usefulness of something being the basis for it's value has been eroded by this insanity that scarcity trumps usefulness... and further, that unless something is scarce, it is worthless.

    I guess people trying to barter lumps of soft metal for useful things had to induce psychosis to get, for example, the farmers to trade them food for their useless metal..

    It doesn't even make a good tool.. way too soft.

    Talk about the artificially inflated value of an asset!!! And that was several millennia ago.. it has snow-balled since then...
    Last edited by Christopher Theodore; 12-04-17 at 09:24 PM.

  4. #14
    Quote Originally Posted by David Merrill View Post
    I am speaking of an artificial mental dynamic that is as much an extension of the human mind as the architecture of your directories and keyword searches to find your way through posting and other communications, is an extension of how your personality is formed in your brain and memories.
    Just to have it said, the CO 101 initiative is not attempting to monetize this portion of what could be called "intellectual property." That deserves to be restated in a more direct way. I am opposed to doing such a thing. I know you are not accusing me of this, but I am concerned other people may at some time in the future.

  5. #15
    If we likened the mind to a computer and consciousness to the software...

    The computer is not being monetized.

    The bios & kernel & operating system are not being monetized.

    Installed on/in the operating system are many useful default programs, and it is these portions of consciousness that are being discussed as the assets in the initiative.

    Now.. using these default programs to developed more intellectual property is possible, but these additional works are not being monetized by the initiative either.

    These additional works would be the private intellectual property (copyrighted works, patents, etc..), and they are monetized in a different way. The trouble I had with monetizing them directly at the Treasury, is that they lack the universal value of the knowledge that degrees and diplomas represent. Further, their valuation is difficult to assess until the book or invention makes it to the market... while not absolutely true, "things are only worth what people are willing to pay" is a common saying and until people pay for it we can't say for sure what it's value is actually going to be.


    It's not a great metaphor... but it may help clarify it further for some people.
    Last edited by Christopher Theodore; 12-04-17 at 09:16 PM.

  6. #16
    Not to diminish your message, but I highlight:

    Quote Originally Posted by Christopher Theodore View Post
    Someone asked over at LinkedIn why the value of Bitcoins fluctuated... My answer was that the psychosis was being cured. As reality sets in, and the actual value of a Bitcoin came to the forefront of the mind of the population (which is $0.00 - it abstractly represents nothing of value, according to their site), and the price drops... then psychosis is induced in the population via propaganda of some kind and the price goes up... as more and more people cure themselves of the psychosis there will come a time when the population will become immune to this kind of psychosis being induced to a sufficient degree to make it impossible to sustain the hoax of crypto currency.
    Okay then, you go into it in the very next post.

    Quote Originally Posted by Christopher Theodore View Post
    Just to have it said, the CO 101 initiative is not attempting to monetize this portion of what could be called "intellectual property." That deserves to be restated in a more direct way. I am opposed to doing such a thing. I know you are not accusing me of this, but I am concerned other people may at some time in the future.
    You can look for yourself by plugging in Fed Assets Current. I present this as "where we are at now". As compared to where the Initiative proposes to take us...

    The Footnotes I pay most attention to:

    1. Gold held "under earmark" at Federal Reserve Banks for foreign and international accounts is not included in the gold stock of the United States; see table 3.13, line 3. Gold stock is valued at $42.22 per fine troy ounce.

    2. Special drawing rights(SDRs) are valued according to a technique adopted by the International Monetary Fund (IMF) in July 1974. Values are based on a weighted average of exchange rates for the currencies of member countries. From July 1974 through December 1980, sixteen currencies were used; since January 1981, five currencies have been used. U.S. SDR holdings and reserve positions in the IMF have also been valued on this basis since July 1974.

    3. Includes allocations of SDR's in the Special Drawing Account in the International Monetary Fund, plus or minus transactions in SDR's.
    The key to following my thinking about "futures" being education/potential based is to gather a realistic picture how SDR's can be assets in the Treasury. This is by comprehending how SDR's are used today, globally. They set the value of internationally insured packages according to the Universal Postal Union.

    This might be a bit difficult at first but consider endorsement as a promise not to redeem the bill. Then it might start to dawn. I say this because this discussion is the imagery coming into new light.

    The bill (of indictment) being redeemed is exoneration. Redemption. If you sign yourself accommodation party, even on naked contract, then you are promising your substance in lieu of redeeming the bill for value. [This is great stuff for a Coffee Chat.]

    Potentially it would be upon graduation from college that the final risk management algorithm would be applied. Futures becomes the gamble risk on the man or woman's future. Rather than that he or she might educate him or herself enough to redeem, and overcome conditioning that debt has value and substance. The substance is inverted from a negative debt, to a positive productivity potential.

    This way, both the SDR and the Initiative can work collaterally functionally. At the same time. The people who "sweep streets" are delivering at a set rate, for a set rate of pay. Easy to calculate so long as they don't wise up enough to overcome the fear "death and taxes" have conditioned into them. This leaves the higher intellectuals, and especially the teachers as wild cards open for the new "futures" gambling scheme.

    Quote Originally Posted by Christopher Theodore View Post
    If we likened the mind to a computer and consciousness to the software...

    The computer is not being monetized.

    The bios & kernel & operating system are not being monetized.

    Installed on/in the operating system are many useful default programs, and it is these portions of consciousness that are being discussed as the assets in the initiative.

    Now.. using these default programs to developed more intellectual property is possible, but these additional works are not being monetized by the initiative either.

    These additional works would be the private intellectual property (copyrighted works, patents, etc..), and they are monetized in a different way. The trouble I had with monetizing them directly at the Treasury, is that they lack the universal value of the knowledge that degrees and diplomas represent. Further, their valuation is difficult to assess until the book or invention makes it to the market... while not absolutely true, "things are only worth what people are willing to pay" is a common saying and until people pay for it we can't say for sure what it's value is actually going to be.


    It's not a great metaphor... but it may help clarify it further for some people.
    I guess that what I am up to is to find that medium ground where this might become practical, your Initiative.

    I was having a holiday conversation with a teacher. He just returned to public schools and attracted the attention of a younger teacher by mentioning "accuracy" and "precision" might be a better approach than "mastery". Mastery being the buzzword of the objective teaching 4th and 5th graders. Mastery being for example cramming a memorized multiplication table in between their ears rather than the "long way around" - to teach them algebra so that they can see how the multiplication table is a functional asset composed of products.

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    The blank areas are midrash - open for discussion. So it may be a bad start, the Table. But use standard Wikipedia definitions for Accuracy and Precision. Combinatorial Mathematics is UN Charter Law - METRO organization and the 1492 New World Order. French Bloodline of Jesus etc. but culminating with the French and Americans going into secret Jamaica Rambouillet Accords to decide for the world that SDR's would be replacing gold as the US Dollar floating (instead of the fixed) exchange rate, domestic and foreign - the $42.22/troy ounce domestic earmark on the asset report above.

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    The Quantum Superposition is like the language free of time, in Arrival.


    This would assume the ability to "see" how a stable upbringing and moral code offers enough assurance (rather than insurance) that the healthy young graduate will be producing far more returns than his paycheck will be drawing out of the world of good. But furthermore, with the Global Village stabilized a figure could be calculated upon graduation, that would be realistic.
    Last edited by David Merrill; 12-05-17 at 02:59 AM.

  7. #17
    My world is fantastic! The transforms I utilize calibrate a balance between dopamine, dimethyltryptamine, melatonin and serotonin. This wakeful part of the daily sleep cycle is a compacted holographic transform - a mutual agreement about trees, chairs, tables etc.

    This is why it is important that I rely on links and source documentation. Why I provide so many images. Having the Legislature especially, leading the episodic hallucinosis confirms that I abide in the divine and natural law. This helps determine your Initiative will be productive and for the good.

  8. #18
    Quote Originally Posted by David Merrill View Post
    You can look for yourself by plugging in Fed Assets Current. I present this as "where we are at now". As compared to where the Initiative proposes to take us...
    Which is here (or where ever it would be best reflected in the general public ledger of the US Treasury):

    https://www.fiscal.treasury.gov/fsre...nce_sheets.htm

    This is where the People's common Wealth is reflected, and there will eventually be accounting of the assets (measured amounts of intellectual property) manifesting on this balance sheet under "Other Assets" (or wherever the Treasury deems appropriate in the Asset section), and the cumulative liability of the debts to all the schools will be shown in the Liabilities section.

    This accounting is not based on promises of future performance, however. The graduates already spent the time & energy developing the resulting Wealth (with the help of the schools). We will be accounting for the results of past performance.

    That said, because of the massive difference between the base value (that is being proposed to be monetized) and the potential true value (which may still be monetized in other ways) methods for dealing in "futures" for those people interested in such things will have plenty to speculate on and the graduates will have the opportunity to prove that the true value of their knowledge and education, and the accruing value, is way more valuable then the default base value:

    Quote Originally Posted by David Merrill View Post
    The key to following my thinking about "futures" being education/potential based is to gather a realistic picture how SDR's can be assets in the Treasury. This is by comprehending how SDR's are used today, globally. They set the value of internationally insured packages according to the Universal Postal Union.

    This might be a bit difficult at first but consider endorsement as a promise not to redeem the bill. Then it might start to dawn. I say this because this discussion is the imagery coming into new light.

    The bill (of indictment) being redeemed is exoneration. Redemption. If you sign yourself accommodation party, even on naked contract, then you are promising your substance in lieu of redeeming the bill for value. [This is great stuff for a Coffee Chat.]

    Potentially it would be upon graduation from college that the final risk management algorithm would be applied. Futures becomes the gamble risk on the man or woman's future. Rather than that he or she might educate him or herself enough to redeem, and overcome conditioning that debt has value and substance. The substance is inverted from a negative debt, to a positive productivity potential.

    This way, both the SDR and the Initiative can work collaterally functionally. At the same time. The people who "sweep streets" are delivering at a set rate, for a set rate of pay. Easy to calculate so long as they don't wise up enough to overcome the fear "death and taxes" have conditioned into them. This leaves the higher intellectuals, and especially the teachers as wild cards open for the new "futures" gambling scheme.
    Quote Originally Posted by David Merrill View Post
    I guess that what I am up to is to find that medium ground where this might become practical, your Initiative.
    Did the preceding responses in this post help with that?


    Quote Originally Posted by David Merrill View Post
    I was having a holiday conversation with a teacher. He just returned to public schools and attracted the attention of a younger teacher by mentioning "accuracy" and "precision" might be a better approach than "mastery".Mastery being the buzzword of the objective teaching 4th and 5th graders. Mastery being for example cramming a memorized multiplication table in between their ears rather than the "long way around" - to teach them algebra so that they can see how the multiplication table is a functional asset composed of products.

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    The blank areas are midrash - open for discussion. So it may be a bad start, the Table. But use standard Wikipedia definitions for Accuracy and Precision. Combinatorial Mathematics is UN Charter Law - METRO organization and the 1492 New World Order. French Bloodline of Jesus etc. but culminating with the French and Americans going into secret Jamaica Rambouillet Accords to decide for the world that SDR's would be replacing gold as the US Dollar floating (instead of the fixed) exchange rate, domestic and foreign - the $42.22/troy ounce domestic earmark on the asset report above.

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    The Quantum Superposition is like the language free of time, in Arrival.


    This would assume the ability to "see" how a stable upbringing and moral code offers enough assurance (rather than insurance) that the healthy young graduate will be producing far more returns than his paycheck will be drawing out of the world of good. But furthermore, with the Global Village stabilized a figure could be calculated upon graduation, that would be realistic.
    I am/was more concenred with erring on the side of caution than accuracy & persision... accounting for the lowest common deonomininator. As long as the assets are not over valued -- assigned an inflated value, like the proposed Trillion Dollar Coin from the MMT people -- then there will be no inflation.. the confidence in the money (USD, Yen, Pound, etc..) will just be "stronger" due to the known under valuation of the assets backing the units of money.

    ".. While people may be tempted to develop more complicated accounting methods to more accurately account for a base value nearer the true value (and I have thought of a few — like using GPA variations to establish degrees of value with the minimal passing GPA equal to the base value and increasing the base value from there), you will find that the accounting is already going to be a bit complicated even with this simple variable cost-based formula establishing the base value of the educational documents. There are hundreds of millions of calculations that are going to be being done, let’s not overwhelm the accountants by making it even more complicated. Any such proposed changes adding complexity to this, if they are deemed wise, can always be done later."

    Accounting for the value beyoned the base value which covers the cost of the educational services also leaves a huge amount of questions related to what to do with the money that didn't go to the schools... they start here:

    Should it go to the students?
    Should it be a bonus for the teachers/schools?
    Should the government keep it?

    But as you begin to think about the answers and the questions those answers will provoke, and the answers to all those questions, etc... I hope you can appreciate why I am just staying focused on a single solid step (or maybe a few step) rather than overly complicating it to a point that most people would just dissassociate compleatly.

    I am not opposed to this happening, greater accuracy & percision, but I am wanting to leave those subsequent innitiatives and deriviative works to others.

    The Wright Bros didn't role a F-16 out of their bike shed... and Microsoft's first OS was DOS..

    This Initiative will solve one of the Major problems I am interested in solving: the National Debt's slavery of the next 460 years of the population:

    https://pjmedia.com/news-and-politic...warns-senator/

    "Lankford explained that it would take more than 450 years to pay off the national debt in full if the government was able to reach a $50 billion surplus every year. The national debt is currently $19.8 trillion."

    With the economic 'fusion power' of the CO101 innovation, we could do it today but it would blow almost all the mental circuits of the population..

    But.. with the openended nature of the initiative (unlike a State initiative that have expriation dates, because there is not set law dictating such a thing at the Federal level), this will happen when the population is made aware of it via Constructive Notice -- which is the upgrade to the mental circurity -- and no massive opposition forms.

    I don't expect the Majority to actually sign it (it might happen), but more likely that Congress will act on the stiplulation in the Order allowing them to do what they are already authorize to do.

    In essence, until a Majority signs it, the Order is not a "command from the sovereign," but a "petition for redress."

  9. #19
    But as you begin to think about the answers and the questions those answers will provoke, and the answers to all those questions, etc...
    Like I said, a midrash. We play with ideas.

    I am not opposed to this happening, greater accuracy & percision, but I am wanting to leave those subsequent innitiatives and deriviative works to others.

    The Wright Bros didn't role a F-16 out of their bike shed... and Microsoft's first OS was DOS..
    It will be regulated wisely but simply comes down to a paradigm shift about Debt having substance and value. It does not. It cannot.

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    It would seem to be such a blow to the consciousness that it creates a mass displacement hysteria or hallucination of cognitive dissonance. But I believe that you insinuate that we can have both systems going at the same time.

    1. value based on student loan, endorsement, credit rating, conditioning and contribution to sustainable debt overall
    2. foreseeing the potential prosperity of having a degree, healthy living, moral values, stable capital to travel etc.


    I am biased, I know. But I often project anybody who disagrees to be influenced by the delusion debt has value and substance.

    I coined the recent SDR basket DRYEP (pronounced Dry Up). Dollar, Renminbi, Yuan, Euro and Pound Sterling being , the US, China, Japan, European Union and England.


    There are hundreds of millions of calculations that are going to be being done, let’s not overwhelm the accountants by making it even more complicated.
    Go for it. Think of it as already done.
    Attached Images Attached Images
    Last edited by David Merrill; 12-07-17 at 02:54 AM.

  10. #20

    The Asset Swap

    Quote Originally Posted by David Merrill View Post
    It would seem to be such a blow to the consciousness that it creates a mass displacement hysteria or hallucination of cognitive dissonance. But I believe that you insinuate that we can have both systems going at the same time.

    1. value based on student loan, endorsement, credit rating, conditioning and contribution to sustainable debt overall
    2. foreseeing the potential prosperity of having a degree, healthy living, moral values, stable capital to travel etc.
    I am not insinuating it, I am stating it. But not in the way you are illustrating here... In fact, both debt based assets and debt free assets are ALREADY being used to sustain the global money supply... of every Nation & all the central banks. There is just a massive amount of debt based assets being used, world wide.

    Now, obviously student loans would cease to exist (as would tax collection to fund all the public educational systems and private edu funded by public sources -- including tax collection for all forms of public training (military training, emergency services traning, etc.. -- these are valid forms of educational services that involve testing and official certifications). Developing this Wealth pays for itself as long as we don't fail to account for the Wealth... and it's not currently being accounted for on the books of either the US Treasury or the Federal Reserve Bank -- accounting for the same asset 2x or more is a no-no.

    Someone on Facebook described the nunc pro tunc accounting of the assets of all current living graduates being proposed as an "asset swap" -- a swap of the debt free assets (intellectual property) into the place of debt based assets that are sustaining the portion of the money supply representing the public debt & student loans. It's certainly a way to describe it, but not technically accurate. The money of account is going to be created, and when you add a positive number to a negative (even on a ledger), they nullify each other: -$20,000,000,000,000.000 + $20,000,000,000,000.000 = $0.000

    When the debt is paid, the debt & debt instrument is "destroyed" (as is the portion of the money supply that paid it). A loan contract "paid in full," is of value to no one. Since the portion of the money supply in circulation the debt represented is not collected via taxes and used to pay the debt, it remains in circulation without debt backing it, and this new money being created via monetizing the assets never enters circulation. What now backs the portion of the money supply is measured amounts of knowledge and education held by graduates... and the money left in circulation (once backed by the debt) can be redeemed with the graduates. Nothing really changes in day to day life for anyone though... until tax time that is.. because there is no need to collect taxes to pay all that interest on the public debt every year.

    So yeah, "asset swap" is kind of a simple way to describe it... the result is the same.

    Regardless of people's views on if debt based assets are even assets in truth, the "reality" is that the money supply in people's bank accounts and pockets is not a figment of their imagination (feel free to try and convince them otherwise). Even if we swapped out all the FRN for US Notes and made adjustments to all the accounts in all the ledgers redefining that the money of account was lawful public money and not Fed private credit... you still have to address the issue of what all that lawful public money in circulation represents... unless you are going to subscribe to MMT (Modern Money Theory - if I understand it correctly - they seem to be saying there doesn't need to be any kind of valuable for the medium of exchange to represent, that we just need to pretend the money is valuable... which is a great idea... for people creating money out of thin air, like Bitcoin and other such schemes, but not a good idea for people who create real Wealth).

    And, truth be told, not all the debt based assets sustaining the money supply will be able to be "swapped out" via this initiative. Nor would gold & silver assets be able to replace all of the debt based assets either (it's a physical impossibility - although, I am sure people with gold & silver holdings would LOVE to have the weights and measures manipulated in their favour and are pressing for such things at the expense of everyone else).

    In fact, the assets proposed by this initiative initiative AND all the gold & silver on Earth would not be sufficient to replace all the debt based assets the money supply represents (and correct me if I am wrong, but the gold & silver is already being used as such an asset anyway, just not exclusively, so it can't be accounted for 2x or more)... This initiative it is just a step in that direction -- using debt free assets.

    Without the public debt, there is no yearly $270 billion dollar interest payment that all the income tax is collected for.

    While the public debt will be able to be zeroed out, there is a massive amount of private debt that will not. The student loans (private debt), however, will also be zeroed out... and.. in many instances, as the assets are monetized, there will be refunds to graduates that have actually paid off their loans in whole or in part, or refunds to scholarship trusts and private grant trusts, and to other private sources that paid for the education.

    Contemplate the nunc pro tunc principle applied to this retroactive accounting.. had we been monetizing this intellectual property the whole time, it can be reasonably argued there would be no public debt, people who paid for school out of pocket would still have that money in pocket, etc..

    The publicly funded education, since it was funded via public sources, goes back to the public sources (because of the debt -- it pays the debt and "destroys the money of account" created -- truth be told, the money supply in circulation representing that debt will simply remain in circulation -- had it been collected via taxes and used to pay the debt, it would have been destroyed in the process).

    Regarding the rest of the private debt, people are certainly free to stop borrowing if they don't like that system. Most of that private debt, while that portion of the money is still borrowed into existence, it has debt free assets used as collateral backing the debt instrument -- like homes & cars, for example.

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