Currency: That which is in circulation, or is given and taken as having or representing value; as, the currency of a country; a specie currency; esp., government or bank notes circulating as a substitute for metallic money. (Webster 1913)

Information is the most widely traded commodity in the world. It's the dawn of a new era, apparently. I believe that some are calling it the Information Age. Information is everywhere. I trip over the stuff every day. The internet is chock-full of information.
  • Some of this information is inaccurate.
  • Some of this information is false.
  • Some of this information is useless.
Information is not a currency. Information is nothing without credibility. It's funny money -- nobody can tell if it's worth anything or not. The worth of information is determined by the credibility of the disseminator. If you are credible; that is to say that if I can accept that information from you is by-and-large accurate, true and useful, then you have wealth. We all trade in credibility -- that's what keeps your boss from second-guessing you.

When you read this write-up, you're wondering about my credibility. Do you think this is true? Do you think this is false? Do you think that this idea has any merit at all? Well, seeing as how this is a theory, and also noting that my only proofs are easily verified, the only thing that you have to go on is my credibility. Am I credible? That's up to you to decide.

What about cool cash? Well, if you're credible you won't be lacking in it. Aside from that, though, what is more valuable:
  • Having credibility?
  • Having one million dollars?
Personally, I'd pick the credibility. When you spend credibility, you receive much more bang for your buck than you do dropping fifty grand on a sports car. And not only that, but if you spend wisely your reserve is not depleted. Someone who has no credibility is impotent. Powerless.

Without credibility, nothing that you say or write will be of any consequence. It will be derided. Discrediting someone, whether through argumentum ad hominem (demonisation) or bullet points, will -- if done thoroughly enough -- ensure that they are removed from whichever arena was being contested.

There is no power without credibility. Power is more valuable than pieces of paper that you can exchange for cigarettes and booze. The entire foundation of paper money is based on credibility -- do you trust your Treasury Department? Good. If you didn't, the world economy would rather swiftly collapse. If you said "no" to the above, then I will assume you engage in barter for all goods and services. Of course, bartering requires credibility, too!

Credibility is that by which we measure the worth of information, just as currency is that by which we measure the worth of a commodity.

Keep that in mind when you're ten write-ups from your next level and decide to do them quick and dirty. Or when you have a brilliant idea to auto-node something inane. You're breaching your own credibility, at least insofar as E2 is concerned.
(Quite literally:)
Let's start with two of the most common and basic assumptions about human biological survival: food and warmth.

From there, we move on to the unfortunate state of Argentina today in which currency is based upon two commodities rapidly losing credibility: foreign paper currency and gold.

(While gold is still needed for the love symbolized in wedding bands,) in order to achieve the independence and freedom of action that Argentina (or any other country) deserves it needs to wean itself off the use of foreign currency and gold as a basis of its economy and rely on itself for its own survival, conducting international trade in commodities.

You know that old saying, trust in the power of Universal Friendship but row away from the waterfall. Other nations won't always be there to rescue you, so unless you're ready to fly, don't try any silly suicidal stunts.

Any and every economic system should re-examine its own survival and security needs before establishing new currencies after disasters like Argentina. Then we can all finally go out and have a good time, both working and playing...

See also comments on currency in:
capital flight
gold standard
prison-industrial complex

(This has been a message brought to you by the emergency currency board council. I am usually just the messenger.)

Log in or register to write something here or to contact authors.