The goal of monetary policy is to restructure national economies. A market can exist under Planned/Command Economies just as a command can also exist under Market/Mixed Economies. The nuances are subtle and will never be made apparent to anyone without a specific conception of Currency being pegged to a Standard in the framework of monetary policy. A central bank acts as the standard bearer of their national economy’s vexilloid banner.
In monetary policy, we find examples of this pattern in the manner in which individual coins and banknotes are created by the Central Bank. The most obvious example is how the US Dollar has George Washington ($1 USD), Thomas Jefferson ($2 USD), Abraham Lincoln ($5 USD), Alexander Hamilton ($10 USD), Andrew Jackson ($20 USD), Ulysses S. Grant ($50 USD) and Benjamin Franklin ($100 USD). The ones with ‘Green Seals’ are called “Federal Reserve Notes,” the ones with ‘Red Seals’ being “United States Notes.”
There were United States Notes with the following description:
“This Note is a Legal Tender for all Debts Public and Private except Duties on Imports and Interest on the Public Debt; and is redeemable in Payment of all Loans made to the United States.”
And there are Federal Reserve Notes with this shortened description:
“This Note is Legal tender for all Debts, Public and Private.”
The ones with the Gold Seals are “Gold Certificates” and the Blue Seals are “Silver Certificates.”
There were Gold Certificates that read:
There were special Silver Certificates issued under President Franklin Delano Roosevelt that read:
And then there were subsequent pre-1945 and later post-1945 Silver Certificates that read:
What do these descriptions have in common? All four are insisting that the US Dollar relies on Kapital as its conception of Currency pegged to Schuld (Debt/Guilt) or to a Commodity like Gold and Silver in the case of Bimetallism. It is a given by most people that all Currencies issued by Central Banks are acceptable means of paying Schuld, but those above statements are adamant about the US Dollar being Kapital. Therefore, how would the US Dollar appear if it was pegged to the Work-Standard? It would read:
“This United States Note is Legal Tender for all Works, both Personal and Federal, except for Federal Imports; all Works are Redeemable in the Amounts thereof as Payments on all Federal and Personal Debts to these United States.”
It is language such as this which informs us of the US Dollar’s configuration in the state of Total Mobilization. The description is insisting the fact that its vexilloid banner is the Work-Standard, the US Dollar’s Quality of Money (“Quality of Geld”) being pegged to the American people’s Quality of Work (“Quality of Arbeit”) as the Totality of this Union under the US Constitution.
Pay attention to the phrases “except for Federal Imports” and “all Works are Redeemable in the Amounts thereof as Payments.” The first phrase is stating that the US Dollar employs a Foreign Exchange Certificate (FEC) within international trade. The other phrase states that any conversions of Arbeit into Geld will suffice as payments on the US National Debt. This means that so long as both the Federal government and the American people are avoiding any budgetary deficits, there will be an infinite number of ways to shrink the US National Debt to $0.00 USD.
The implications are obvious: “Fiscal Conservatism” is finally free from Liberal Capitalism, now serving as an extension of Hamiltonian Federal Socialism. In American history, Thomas Jefferson, James Madison and James Monroe spent their entire presidencies, the War of 1812, the destruction of the Federalist Party, and a Bank Panic in 1819 by trying to abolish the US National Debt.
Jefferson himself had personal motives: he inherited a large sum of Schuld from a family inheritance and spent most of his adult life paying off that Schuld. It also did not help that he was notorious for his Keynesian spending habits and dinner parties, hatched a plot to sell Monticello to the Virginian Lottery, and appealed to the Virginia State Legislature to forgive him of his Schuld. Unfortunately, Jefferson died with $107,000 USD (or ~$2,000,000 USD in today’s Kapital), which means he died a “debt slave.” Most Americans have yet to understand that the Civil War was fought over the “Slavery of the Southerners” and the “Debt-Slavery of the Northerners.” Do “we the people of these United States” not realize that, in Conservatives against Capitalism, there were pro-Slavery Southerners who literally justified Slavery on grounds that Liberal Capitalism in the North is far worse than Slavery itself? Such thinking is only possible if both Northerners and Southerners of all races are enslaved in one form or another.
Personally, if I had to choose which people would be on a US Dollar pegged to the Work-Standard, it would be John Adams ($1 USD), Grover Cleveland ($2 USD), Abraham Lincoln ($5 USD), Richard Nixon ($10 USD), Theodore Roosevelt ($20 USD), George Washington, ($50 USD) and Alexander Hamilton ($100 USD and, if necessary, $500 USD, and $1,000 USD).
The choice of John Adams serves as a reminder of the fact that he was the first Federalist President of the United States. Grover Cleveland reminded us of why America is really a Council Democracy, including why American economic and financial powers are supposed to be dependent on the exercise of political power wielded by the Federal government. And Theodore Roosevelt reminded us of why American Conservatism and American Socialism share the same set of common interests, that combining them is the key to realizing Hamiltonian Federal Socialism.
As for Richard Nixon, besides opening our eyes to the truth about the Socialist Destiny of America by causing the death of Bretton Woods for the US Dollar, he is the missing link on why Hamilton himself would be on the higher denominations for US Dollar pegged to Work. Nixon once said:
I am convinced, however, that we have the vitality, I believe we have the courage, I believe we have the strength out through this heartland and across this Nation that will see to it that America not only is rich and strong, but that it is healthy in terms of moral strength and spiritual strength. I am convinced it is there. I am convinced as I talk to crowds of people. I am convinced as I see a group of young people, 500 of them, going off to Europe, as I saw them yesterday, from 50 States.
But I also know that people need to be reassured. The people that can reassure them are opinion leaders, editors, television, radio commentators, teachers, even perhaps Presidents and politicians. At the present time, I will simply say in raising these problems, I don’t raise them in any sense of defeatism; I don’t raise them in the usual sense of pointing out that the United States is a country torn by division, alienation, that this is truly an ugly country, because I don’t believe that.
I honestly believe that the United States, in its preeminent position of world leadership, has in its hands the future of peace in the world this last third of the century. I honestly believe that the United States has the destiny to play a great role, but I also know we cannot play it unless this is a healthy land, with a healthy government, a healthy citizenry, a healthy economy, and above all, the moral and spiritual health that can only come from the hearts of people and their minds, and that will only come as people are reassured from time to time, as we discuss our faults and as we correct our faults, reassured.
Keep them in balance. Don’t let the problem of the moment obscure the great things that are going on in this country and the goodness of this country. It is that that I would suggest to the editors and the other opinion makers here: that from time to time, maybe once a month, that message might come through.
It is perfectly understandable for some Americans to deem Adams, Cleveland, Nixon and Roosevelt as less-than-ideal Presidents in US history. Adams frustrated Hamilton on several policy debates (which was why Jefferson was able to seize power in 1800), Cleveland engaged in demagoguery and tried winning elections at any cost (a fate later repeated by Donald Trump between November 2020 and January 2021), Roosevelt was still uncertain about what form American Socialism should be assuming (as opposed to what it shall be), and Nixon convinced himself that true American Socialism did not exist as Dwight Eisenhower’s Vice President, continued the Vietnam War and was later implicated in the Watergate Scandal as the President of the United States. Nobody in America is perfect and the same applies for the rest of humanity. What matters is whether those proposed choices reflect the untapped “Total Productive Potential” of the American people in all times of both peace and war.
Determining the Authenticity or the Inauthenticity of any Currency is important for Intents that go beyond separating the genuine from the counterfeit. A Currency issued by a central bank is meant to inform foreigners about the Totality of the country relying on it in their everyday lives as well as the vexilloid banner carried by their central bank as part of their Financial Regime.
Furthermore, the National-Socialized Banks (NSBs) and State Banks, the Kontore (Financial Offices) and State Commissariats operate according to different rules of engagement unlike the SSE and VCS Economy. Competition may seem combative at the Kontore and State Commissariat, but the banks serve a logistical role within the Reciprocal-Reserve Banking System and the same goes for Kontore and State Commissariats within the VCS Economy.
The role of the State Banks is to process the financial records of contributed Arbeit to the Life-Energy Reserve, distribute the Geld that the Central Bank converted from that same Arbeit, facilitate the large-scale movements of Geld into the VCS Economy and the SSE, with “Work-Tenures” intended for the creation of new Vocations, Professions, Enterprises and Industries at a Mechanization Rate set by the Central Bank. That means additional Geld allocated to the deployment of automation technologies in workspaces where we can reduce the number of people involved. As for the National-Socialized Banks (NSBs), their primary role is to maintain the checking and savings accounts for all citizens and oversee the issuance of loans to any potential borrowers with a high-enough Rank. If necessary, the NSBs will pursue an auxiliary role on behalf of the State Banks.
It is realistic to expect a specific social custom to disappear among certain professions; an example includes the practice of “Tipping” in the US and other countries. People under Socialism do not tip other people because the Intent here is suggesting ‘people can be bribed so they will look the other way if a crime were to happen’. The methodology of Tipping is comparable to a “Keynesian Beauty Contest” from an SMP Compendium entry on why Chapter 12 of General Theory of Employment, Interest and Money is about as cringy as a Japanese maid café. Such behavior tells us that people are not paid enough and that they can be ‘bought’ like slaves in a ‘labor market’. The Work-Standard will see to it that all professions vulnerable to tipping will be accommodated under Socialism. These professions include, but not limited to, restaurant waiters and waitresses, taxi drivers, cashier clerks, bank tellers, office receptionists, hairdressers and barbers, manicurists and pedicurists, food deliverers, hotel housekeeping and room service, bartenders, and real maids who do actual cleaning inside somebody’s house.
Our “full-time floor traders” and “part-time day traders” of Office I at a Kontor are those same professions vulnerable to tipping. That person manning the cashier register at a local 7-Eleven at 0123 hours might be a day trader. The person flipping burgers and cleaning the bathrooms at a local McDonald’s across the street at 1200 hours on the same day could be a floor trader. If both are in good health and their doctors allow them to work at those Enterprises, their biological and genetic makeup is unimportant to us. What will deter tipping is the fact that they are investors of separate Fiefs related to their professions. The Value of their Fief is affected by the Quality of Arbeit and thus the Quality of Geld. When they decide to pursue a Vocation in a different profession, they sell the Fief, pay the Service Fee and receive a large sum of Geld to their names. An onsite “non-commissioned superior”–what was once their ‘manager’ under Liberal Capitalism–evaluates their Arbeit and those of their peers until an Inspector arrives; both the floor trader and the day trader will still report to their commissioned superiors back at Office I for their Geld.
We can expect a similar hierarchical command structure for Office II (“Work-Plans”) and Office IV (“Currency Conversion”). Somebody from the SSE, VCS Economy or State may need people on special assignments for the next four or five years, just as there needs to be people overseeing the movements of Arbeit and Geld across international borders. Meanwhile, the old Welfare Capitalist managers of hedge funds, retirement funds, mutual funds, trust funds and the social insurance companies have found different professions at the Kontore. Some are working in Office III (“Equipmentalities”) with Enterprises from the VCS Economy, some in Office V with those aforementioned banks (“Work-Tenures”). The rest are either somewhere in the country with the student government and the military in Office VI (“Priority Requisition”) or else they are working overseas as part of the State’s diplomatic consulate to other nations in Office VII (“Economic Foreignization”). The people in charge are Office VIII (“Administrative Faculty”) and depending on the geography and spatial distances between cities and countries, they may have smaller branches at different office buildings, from two-story complexes to high-rise skyscrapers.
A similar kind of economic order will also be encountered at the State Commissariats of Wages and Prices, which also appears in a manner comparable to the Kontor. State commissars are preoccupied with boardroom meetings of different Industries and Enterprises. They visit the annual conventions hosted by certain professions that are open to the Totality. They give consultation and schedule appointments with inspectors, economic planners, accountants, the student government, the military, the bankers, and the rest of the nation. It is one of the most demanding Vocations under the Work-Standard because they are the ones with the power to decide whether somebody from a given segment of the population receives such and such Wage for their Paygrade and whether something deserves this or that Price. Originally, these people were once the tax collectors, the bureaucrats of social welfare handouts, social workers, real estate realtors, stock brokers and others whose ‘jobs’ were made redundant by the Work-Standard. Like their colleagues from Office I of the Kontore, they readjusted and were retrained by the State in the live-training exercises of the “market” at our nation’s Socialist Student Economy. And none of them had to pay anything out of pocket for their own reeducation.