"Reforming The World's International Money", by Paul Davidson
The Entire Global Market Law System Is Broken___Throwing Good Money After Bad Law Makes No Sense…!
Essay On Paper Currency___Proposing A New Method For Fixing Its Value, by Benjamin Franklin
Franklin D. Roosevelt___First Inaugural Address
“By an architectonic I understand the art of constructing systems. As systemic unity is what first raises ordinary knowledge to the rank of science, that is, makes a system out of a mere aggregate of knowledge, architectonic is the doctrine of the scientific in our knowledge, and necessarily forms part of the doctrine of method.
... By a system I understand the unity of the manifold modes of knowledge under one idea. This idea is a concept provided by reason – of the form of the whole – in so far as the concept determines a priori not only the scope of its manifold content, but also the positions which the parts occupy relatively to one another. The scientific concept of reason contains, therefore, the end and the form of that whole which is congruent with this requirement. The unity of the end to which all the parts relate and the idea of which they all stand in relation to one another, makes it possible for us to determine from our knowledge of the other parts whether any part be missing, and to prevent any arbitrary addition, or in respect to its completeness any indeterminateness that does not conform to the limits which are thus determined a priori. The whole is thus an organised unity (articulatio), and not an aggregate (coacervatio). It may grow from within (per appositionem). It is thus like an animal body, the growth of which is not by addition of a new member, but by the rendering of each member, without change of proportion, stronger and more effective for its purposes.” Charles Sanders Peirce
“Veblen does not mince words: the peaceable type of person with a sense of goodwill toward fellow humans is regarded in highly competitive, Western societies as “good-for-nothing.”On the other hand, “the competitive individual can best achieve his ends if he combines the barbarian’s energy, initiative, self-seeking and disingenuousness with the savage’s lack of loyalty of clannishness.” The peaceable traits that are absolutely essential to the preservation of the family
and society “are disserviceable to the individual” whereas the predatory habits that help the modern barbarian compete simultaneously destroy the very fabric of society.” Thorstein Veblen
“Veblen believes that Western Civilization is fundamentally peaceable as well as barbaric, and that this dualism will never be resolved completely. postmodernists, modernists and positivists cannot digest Veblen’s . . . efforts from the previous fin de siécle to posit a dualism of human nature or homo duplex. Hence, there arise among modernists efforts to obfuscate barbarism in modern cultures, and among postmodernists efforts to deny the very existence of culture, much less “good” versus “bad” culture. Much is at stake here.” Thorstein Veblen
Were it not for Charles Sanders Peirce, and his student Thorstein Veblen, our sciences and knowledge systems would lack clarity. No other person, and student, built system’s knowledge and understanding to such thorough and accurate meanings, yet the modern world seems confused, confounded and less than systematic___Why…? No matter what subject area we choose, there are always oppositions and variations to our ways of stating and knowing our subject matter. Years past, I’d realized there were drastic problems with relaying and understanding information and knowledge, between differently interested parties. It especially shows in such subject areas as, “The one and the many”, “The whole and the parts”, “Breadth and depth”, and subjective and objective. Back in the `70’s, I first heard it well expressed by the `Rock and Roll’ group, `Savoy Brown’, by the lyric, “Outside looking in. Inside looking out”. I then asked the question, “What one word or concept of, or least combination of words/concept of, could represent clearly, every thought possible, on earth?” I only discovered a possible answer just last week.
First, why has it always been so important to me, to maintain this quest all these years…? In a word___Clarity___of meaning. Though Peirce and Veblen accomplished much, they didn’t foresee the explosions of complexities of meanings, the modern world would conjure up. My purpose is to show how `a conceptual contract mechanics’ can simplify and unify what Peirce/Veblen once unified___anew. Let’s start off with `truth and anti-truth’, where an epistemology of the truth contract, can be compared to the epistemological philosophical fallacy of the anti-truth contract. I am here using `contract’ to distinguish something real, of the absolute world.(I’ll get to the epistemology of the absolute later). Since I’ve used contract in both instances, of truth and anti-truth, then I do accept a reality within both, but the first is the reality of usefulness to all, and the second is the reality of existence, lacking extreme utility and usefulness to all. Now, why do we have such a world, of usefulness and near uselessness, when compared to the all? Entertainment? Possibly. But the deeper reasoning is just simply a complex evolution, of a world of learning minds, and the timings of…
Eclectic Universal, Conceptual, Statistical, Contract Mechanics___A Method of How to Unify and Compress Information and Knowledge, Into Wisdom…
This is #1 in a series of posts, to attempt an entirely new method of explicating the complexities of world economic and monetary thought, in a most clear voice, grounded in “Mother Wit” and “Common Sense”, as honors the memories of Charles Sanders Peirce and Thorstein Veblen. Oh, it’s very true, there are many other voices of truth and wisdom whom I am relying upon, such as Benjamin Franklin, Alexander Hamilton, Josiah Gibbs, Harry Dexter White, John Maynard Keynes, and Paul Davidson, etc., etc., but Peirce and Veblen represent the clearest voices of eclectic universalism, grounded solidly in “Mother Wit” and sound “Common Sense”, as my base... You may wonder what Josiah Gibbs is doing in an economic post, but American economist Irving Fisher was one of his Doctoral students, thus the link of wise men inter-connecting American thought...
To start; All frames of reference of absolute truth, in the real world, are contractual facts, or contractual obligations and outcomes of people’s fundamental ideas of___There exists no other single word frame/concept possible, that covers such a large territory of statistics, ideas and mechanics of___as contracts. We, as a people, absolutely require such an architectonic framework, to even begin to understand the dynamic complexities of this modern world. This is exactly what Peirce was saying in the first quote of this post. Without such a basic fundamental reference, of eclectic universal conceptualism, the mind wanders to far a field of any semblance of knowledge and understanding, as the basic wit and common sense demands the universal concept, first, for any further understanding to function clearly and properly. Truth has been, more often, lost to this very fact, of the improper framing of ideas to fundamental sense, mentioned, known and communicated, than any other reason, a people and nation have ever lost its senses to. I can not stress the importance of proper architectonic understanding and mechanics enough, to explain the reasons for our known truths, evolving to the anti-truths of our own destruction, and the proper way to return America to her good senses, because believe me, she’s lost her reasonable senses, to the anti-truths, of modern nonsense, and I think you all know it...
Contract mechanics is a simple way of replacing the economic complex, with a well known and easily understood word___Contract___and its workings idea__Mechanics. It appeals to the basic wit and common senses of all strata of our society, and elicits easy interpretations and meanings, especially when we start explaining its mechanics from the ground up, by starting with the fact___the dollar bill, or any coin, is a fundamental contract, for anyone’s purchases, guaranteed anywhere in America and the world. There is no place or idea on Earth, contract and contract mechanics can not be applied, by simply relating the concept discussed, i.e., even to all other social, and even spiritual contracts, and the related mechanics of them all. You want or need simplicity of complexity, then think contract mechanics of any and all ideas, on Earth, and you’ll quickly realize, I’ve told you a new, yet so obvious a truth, it seems impossible it’s not been mentioned before___It’s really quite magic at unifying and compressing information and knowledge into more basic understandings of truth and wisdom. Conceptual contract mechanics___Even I could have never dreamed it so possible of simplifying complexity, especially economic complexity.
Of course, I’ve only mentioned it’s first stage of possibilities of explaining a needlessly over-complex world, and now, from the simplest of concepts to the most complex of economic profundities, I’ll demonstrate the simplicity of which the “Shadow Banking System’s” derivatives markets can be understood by all, through this new idea of its “Contract Mechanics”. Derivatives lends itself to contract mechanics the easiest, since all derivatives are actual contracts, traded between contracting parties, but the underlying contract mechanics of these contracts also involves the constitutional contracts of all nations involved. First, we should recognize the fact, that our constitution is the national contract of all America’s contracts, yet derivatives contracts not only operate within the constitutional contract, but also outside it, in the international corporate contract area of law, and non-law areas, except the trust between corporations, and the contracts traded between them, from most all nations on Earth. But realize, it’s still nothing but simple contract mechanics, at its base, and in actual practice, no different than you having credit card leverage(contract leverage) against your home mortgage(another contract) and yourself may be up against your finance(contract) limit, as are many corporations now, with their excess toxic debt derivatives contracts, as many went to bad debt with the global market downturn. So, the entire derivatives contract system is very similar to you, or your neighbor, not being able to meet your excess contract obligations, to your or his creditors/bankers/corporations, or other such market holders of contract obligations. It’s all contract privileges and obligations, and the trading mechanics of. The real problem is, the real underlying trading value of all these toxic derivatives contracts is approximately $50 trillion, and the total contract value of all the world’s economies is about $50+ trillion, while the total market transactions of derivatives turnover was last recorded at some $596 trillion. So, that’s actually about an equal obligation of a partial % of toxic and good contracts, against the privileged contracts of all the world’s citizens___A big problem, and I’ll deal with the actual, in depth, mechanics later…
At this point, I’d ask; “How much can the world’s aggregate balance of payments contracts actually finance, while trying to support this massive amount of derivatives, and other personal and corporate contract debt defaults? What is the limit of our presently evolving contract debt collisions, no matter what financing route we may take? Can we financially survive this tsunami of global depressions, or will we be forced to monetize the national debt contracts, or at the least, some of them, if not all? And, if we must monetize the national debt contracts, of say many nations, whose monetization system shall we use___Schacht’s, Keynes’ or Davidson’s?” These are the $64 thousand dollar questions…?
to be continued...
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