00:00 What is Money? [ Money is justice because it equalizes the exchange of disproportionate work. This definition is explained by Aristotle in Nicomachean Ethics V, Part 5. This is how it functions as an intermediary. It is a symbol that re-presents that any work was performed at all. Therefore, the doing of the particular work that others find desirable is the money and the intermediary is the universal of those similar particulars. This symbol that represents all of the similar particulars is universal, the same for everyone, and thereby facilitates the activity of justice since any quantity of the intermediary can be added or subtracted in order to equalize the work performed, the similar particulars, on both sides of the intermediary, the universal.
The intermediary is the induction of the universal. Artisans create goods and services. And just as the good desired is the object of their art, so too, is the intermediary the good desired as the object of all arts. The work performed is the deduction of the particulars. And just as the good desired as the intermediary represents all particular goods produced, so too, does each good produced represent all of the particular things and actions from which it comes. Again and as always, art is induction, deduction is proof and without art there is nothing to prove. ]
03:01 The way [a worker] earns money is to produce goods or services that others [desire]. [ A worker barters the end of their art into the intermediate and then barters out of the intermediate into the end of someone else’s art. Exchange is barter-barter; barter in, barter out. ]
03:10 Once societies began using paper, it was easy for governments to print new money. [ An intermediate is desired because it represents proof of work. Newly “printed money” is not proof of work but the absence of proof. No one desires absence of proof and therefore governments replace the choice for the intermediate with compulsion. Demand replaced by command.
Understanding requires thinking in terms of contraries. We know good better by knowing evil, we know activity better by knowing inactivity, we know work better by knowing leisure… Do we know money better by knowing printed money? Can desirable work be printed? What is the contrary to money? If money is the doing of desirable work, then the contrary to money is the opposite of doing work. The “opposite” of “to do” is counter-feit. Counterfeit is the contrary to money. Paper is not what makes counterfeiting easy. Counterfeiting was just a prevalent prior to mastering the art of producing paper. What makes counterfeiting so easy now as then is that those who claim to know better rename counterfeit into a kind of money. The opposite of working is no work at all, but the deceivers turn the name (that’s their job) and the believers believe. What makes counterfeiting easy is the deception that counterfeit is money. ]
03:15 Throughout history [counterfeiting] has been a popular way for governments to generate new money because it was easier than other options such as collecting taxes. [ The Treasury issues the debt obligation, the banks introduce the counterfeit to purchase the debt, the recipients of the counterfeit exchange this representation of having done nothing for the ends of others who are doing something. The workers are then taxed to pay down the debt. This laundering of counterfeit, cleaned by the economy of desirable work, the exact same principle of stealing as the taxes. Its easier to get away with because of the deception by calling what money is what it is not. ]
03:29 Although this was good for politicians, it was bad for the rest of us as our money lost its value. This is called inflation. [ It is not bad for the rest of us who are the insiders cozy with the politicians and the first ones to receive the “money from nothing.” This is the source of corruption in States and why Aristotle advocated the removal of any ability to take money out of being involved with public offices. Where corruption is the rule, excellence has no place. The inflation of counterfeit is not a mere “loss of value.”
Counterfeiting steals from where and whatever would otherwise not have been stolen. This absence of what was makes it more desirable, thus bid to a higher proportion of equalization. Remember, the intermediary is only an equalizer. If something becomes more desirable, it is going to take more units of the intermediary to achieve a balance for both participants in the barter-barter. Likewise, but conversely, the same goes with deflation of counterfeit. There are less things stolen and thus naturally more abundant. ]
Source post: https://www.youtube.com/watch?v=Jdsujp6Zf8E&t=3s
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