The dollar is dying as a problem-solving tool.
Long live the Lifehour!

Fed-up with the IMF?

With the demise of communism, capitalism catches the blame for global economic collapse. As noted elsewhere, the problem isn't capitalism, it is decapitalists calling themselves capitalists. Globally associated with the crises of capitalism is the International Monetary Fund (IMR) which is viewed as an extension of the U.S. Federal Reserve (the Fed). Argentina blames the IMF for creating its crises with an abrupt hands off moment (see bottom for a reason.)

As was summarized by the U.S. Secretary of Treasury, Paul O'Neal (a long-standing decapitalist), the IMF money ends up in Swiss Bank accounts with the public obligated for the private appropriation of the money borrowed in the public name. As said of Argentina's IMF money: Much of that money ended up in the pockets of government officials rather than going toward social services, as a series of recent corruption investigations have shown. 011222

There is a simple solution to generating public funds for solving public problem. Before presenting the solution, a summary review of the Fed(i) and currency(i) is needed.

Currency

Currencies have taken many forms over the history of civilization performing a central, essential function to civil behavior. Currencies serve as a common, intermediate product by which producers can exchange their time at solving problems over distance or time. The most important fact is that all currencies have been products of human effort. Currencies vary in a number of characteristics .....

Currencies last based on their fulfilling the origin of the word currency: What is your time currently worth? If a civilization allows or encourages some citizens to get overpaid, it is only a matter of time before the currency and civilization dies. Why? Problem-solvers stop solving problems to join the ranks of the thieves living in the jungle of might makes right. One need only look at the imbalanced payments within today's market driven capitalism to see why the best and brightest drain their brains to paper-playing or game-playing to the detriment of teaching, safety and medicine. A perfect currency captures the problem-solving value of a person, that is capitalism per capita. That perfect currency--in concept and eventual proximity--is the lifehour. With capitalism per capital, a civilization benefits from optimal profits(th) from all busyness.

Federal Reserve History and Rationale

As part of a reorganization of the financial and tax system in 1913, the Federal Reserve Bank was created along with the Internal Revenue System. The rapidly expanding American economy was not generating enough gold or silver to facilitate economic activity. In a very real sense, the economic body was suffering anemia from insufficient economic blood. In effect, the problem-solving potential or time-creation potential of the American economy was being limited by insufficient symbols of time.

The Federal Reserve was authorized to issue paper script backed up by precious metals. By issuing paper script, the Fed controlled the money supply or currency in circulation. Insufficient economic liquidity as occurred in the early 1930's causes economic sluggishness. Too much money l eads to inflation.

Ennobled with the task of  expanding the money supply to complement and catalyse the American economic body, the Fed uses its FOMC to set money targets. The Federal Open Money/Market Committee, affects the money supply by setting interest rates at which people borrow money. There are several problems with this system.

1. What happens when the Fed allows borrowed money to be used for non-problem-solving businesses: S&L Collapse and NASDAQ Collapse
2. What happens when the Fed can't cut interest rates to help an anemic economy in recession? An economic depression.

The Fed does a quantitative, not qualitative analysis, of the money that it lends. If the money is lent for non-problem-solving, the civilization has more problems in a less civil world. This is what has happened world-wide through ministrations of the IMF lending practices.

How can citizens have a money supply that grows with the economy's potential to solve problems and save time without the symbols of time becoming cancerous to the economy? Better democracy. Better Capitalism.

Gold and silver are symbols of time. Federal Reserve Notes are symbols of time. Lifehours are symbols of time with one big difference. Lifehours quantify the quality of time in an economy. How can the Fed adjust the money supply to reflect the creation of time within the economy? Brain Bees. Not only can Brain Bees be used in the U.S. to peg the money supply, but it can be used in any country. In fact, one of the practical application of timism is the establishment of a universal currency through the brain bees.

Self-IMF

As is, countries have to go hat in hand to be g money from the IMF. Unfortunately, a lot of loans end up in private Swiss bank accounts. Unfortunately, little of the money creates lasting, self-sustaining problem-solving systems. Consider the creation of currency from brain bees.

1. Citizen legislation ... lifehours
2. Brain bees are used for zero-cost, zero corrution primary systems in which growing numbers of people can participate in prioritizing new problem-solvers for old problems. The participation can be quantified in lifehours.
3. Community service: teaching, safety, medicine elder-care
4. National government gets to create lifehours in a percentage approved by the people to use in purchasing public needs.

With brain bees, a people can create a currency supply superior to anything formented by the Fed or the IMF. (Anyone familiar with the Fed recognizes that the above  is a description of what the Fed and IMF does without the problem-solving of better democracy.)  

With IMF loans, people's times are temporarily directed away from solving current, local problems to accept currencies that buy foreign goods and services. When the need for the goods disappear, the people have no problem-solving system and no current symbols to buy goods within their imbalanced irrelevant economy. With brain bee lifehours, an economy grows in reflection of the people's needs without an economic cliff over which currency speculators can drive them, e.g., Malaysia.

IMF loans are defective dictators of peoples' time. Timistic lifehour self-currencies are effective economizers of peoples' time. If you have money, you control other peoples' time. IMF currency is the new plantation master enslaving more of humanity. If the currency comes from the people, then it is a democratic currency r ather than a decapitalistic, despotic manacle.

Gold and silver are symbols of time. Federal Reserve Notes are symbols of time. Lifehours are symbols of time with one big difference. Lifehours quantify the quality of time in an economy. Lifehours are created in parallel to the problem-solving actuality of the economy.

If the U.S. exports and underwrites better democracy for other economies, the U.S. will be exporting better capitalism. As other countries better solve their problems, the U.S. will be importing fewer of those problems in the form of crime and terrorism.

There is only one way for the U.S., or any nation, to engage in nation-building, that is, through establishing better democracy and capitalism. Timism.com has begun the process and does not need the support of any domestic or foreign habitual politicians() to achieve this goal. Timism just needs internet connected people to sign up and participate in the brain bees that server their pre-existing concerns and interests--see snowflake index(). Impoverished countries don't need foreign investment. They can create their own wealth (lifehours). Capitalize public service to fund private enterprise.

International Monetary Fraud: Argentina

Afterthoughts:

1. While lifehours can be traded on-line(), they cannot easily end up in Swiss bank accounts.
2. Disgusting use of the Fed's control of the money supply: $380 billion for corporations after 911 to buy their stocks at depressed prices. Why didn't the Fed provide low interest loans to the basic problem solvers of the United States? Brain Bees do on a case-by-case individual basis.
3. Some people uncomfortable with idea that the value of a human being can be quantified. Actually, your absolute and relative worth() can be defined to several decimal point. ... Pools of lifehours can be lent to companies and nations. aka Freddie Mac.
4. Afghanistan and sugar daddy CIA is setting up a cancerous collapse of Afghanistan akin to the collapse of Israel's economy: A privilege class subsidized by foreign funds lives beyond its existential means which creates an existential meltdown.
5. Why did Uruquay and Brazil receive IMF funds but not Argentina? A certain son tried to shake down the Argentine oil minister for a monopoly in the 1980's.
6. Ominous: Benanke's comment on the Fed becoming dependent on international forces.