TIME IS MONEY

Do you know the expression "time is money"? This expression perfectly illustrates our race against time in our debt-based socio-economic space.

Let's take the case of debt. When a couple borrows from a commercial bank for 25 years to buy their primary home, the necessary amount of money is created "out of thin air" in the bank's accounts. Few people are aware of this, but it's when a loan is granted that 95% of the money is created.

In return for this loan, the couple commits to repay the amount borrowed. It is this commitment that gives value to our common currency. This commitment is all the more valuable if the bank has previously checked the creditworthiness of the couple in question. But above all, social pressure combined with strong legislation in favor of the banking system makes repayment almost certain.

Our modern currency is therefore solid because it is based on the confidence that the sum of individual commitments will be honored.

But on closer examination, the commitment each of us makes when we take on debt is equivalent to pledging our future to the banking system. In a sense, the bank is lending us a sum of money in exchange for mortgaging our future - in short, our very person. This socio-economic pressure can sometimes feel like modern-day slavery to the freest among us. But few people feel this way, much to the delight of the instigators of the banking system!

Sometimes, knowing that modern money is a shell of debt, every currency we own is a fraction of a debt contracted by a couple, a corporation, or the state. In other words, every currency exchanged is a fraction of an individual's future pledged to a bank.

An even stranger consequence of this system is this. Since 95% of the money in circulation is the materialization of our debts, if each of us decided to repay our debts, the money supply would contract to such an extent that our economic model would implode.

The strength of the bankers is that they have created a currency that is, by construction, a debt. Bankers have used money as a shell for debt. In this way, the banking system has become the manager of our debt, earning the famous "interest" from this activity.

As a result, our economy is based on the following triptych: debt, consumption, then work. In our model, work no longer precedes consumption. The system has turned us into consumers in a hurry, unable to wait, but above all conditioned to borrow from bankers to satisfy our consumer impulses.

By granting us credit, the bankers realize our future work in the present. For this, they pay themselves "interest". In this way, bankers have turned time into a marketable commodity.

Is it really reasonable to have as our common currency the tool that spreads debt in our society? Our currency has become the medium for the commodification of time. When debt is public, it is the future of our future generations that we are mortgaging. Who is sounding the alarm to stop this unbridled race against time?

It usually stops itself. The exponential aspect of usurious debt creates bubbles that sooner or later burst, sometimes very violently. In the past, these financial bubbles eventually burst, giving way to economic and social crises, often leading to bloody wars.

Today, an unprecedented ecological bubble is forming in conjunction with this system. Overconsumption, fueled by a system built on debt, is taking more from our planet than it can regenerate. Yet few make the connection between ecology and our debt-based monetary system.

It's the bursting of this ecological bubble that could spell the end of the game for this financial capitalist system.

Let's hope that some individuals will come up with a different economic model and convince people of the urgency of adopting it.