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Money by Sauron

by on January 7, 2014

It began with the forging of the Great Rings.

Three were given to the Elves – they are the central banks. Immortal, and supposedly the wisest and fairest of all beings. They should gather information, and keep out of day-to-day economics.

Seven to the Dwarf lords: great miners and craftsmen of the mountain halls. These are the goldsmiths, who nudged us a step towards paper money.

Nine rings were gifted to the race of men, who above all else desire power. This is the top 1% of humanity. With each ring goes one tenth of the world.

But they were, all of them, deceived, for another Ring was made. In the land of Mordor, in the fires of Mount Doom, the Dark Lord Sauron forged in secret a Master-Ring, to control all others.

That ring is money.

Created as debt* – and only to be destroyed by the fire in which it was created.

Sauron is greed, which every living thing knows. It’s what turns Smeagol into Gollum. And it’s what keeps testing Frodo’s resolve to do the right thing.

In order to become embodied, Sauron needs the best lawyers in Middle Earth. Then he can call himself ‘legal person‘, and wreak his havoc – even within retirement funds and other supposedly well-meaning entities.


But there is another way. Instead of the one Master-Ring, we could have many ringlets. (Or earrings if you will!)

These are alternative currencies, community-created currencies, and Plain Money or Sovereign Money.**

With many ringlets*** there is no need for an all-seeing eye. We might come closer to the famed invisible hand, by which communities can protect themselves through their individual spending decisions.

In all of this, we, the people, are the little Hobbits.

We like to eat, drink, and sometimes escape to a dream (DVD) world.


Quote from the extended version of The Fellowship of the Ring, property of New Line Cinema:

Concerning Hobbits.

Hobbits have been living and farming in the four Farthings of the Shire for many hundreds of years. Quite content to ignore and be ignored by the world of the Big Folk.
Middle-Earth being, after all, full of strange creatures beyond count, Hobbits must seem of little importance, being neither renowned as great warriors, nor counted among the very wise.

In fact, it has been remarked by some that the Hobbits’ only real passion is for food.

A rather unfair observation, as we have also developed a keen interest in the brewing of ales, and the smoking of pipe-weed. But where our hearts truly lie is in peace and quiet, and good tilled earth. For all Hobbits share a love of things that grow.

And yes, no doubt, to others our ways seem quaint. But today, of all days, it is brought home to me, it is no bad thing to celebrate a simple life.

[end quote]

* Created by balance-sheet extension, and destroyed when a loan is “repaid”, see How banks (don’t) work.

** Sovereign Money, of course being a special kind of community-created currency (ccc), created for the community as a whole in one go, as opposed ccc, which is created by humans and corporations on the spur of the moment, kind of like humidity in the air forms a cloud (the humidity is your overdraft allowance, kind of …it’s a long story… see Solutions).
The main thing we need to forget when creating our own money as individuals (ccc) or as a state, is all that propaganda about the state being something bad and tyrannical. The state is us. John Dewey said something along the lines of “As long as the state is the shadow cast by big business on government, it’s a huge waste of time to bomb government buildings, and you might as well just stay home and re-watch Lord of the Rings on BluRay.”
John Dewey is Gandalf who reluctantly sends out a bunch of little men to save the world.
Frequent flyer miles, supermarket bonus-points, etc. are alternative currencies created by corporations only.

*** Ringlets: possibly a little like all our currencies before the 70s, except not quite: they were debt-based then, too, but you get the idea.


German version of this text: Geldschöpfung a la Tolkien
First known use of analogy by
Bank need Boundaries!

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