Third Place: Reciprocal-Reserve Banking Proposals

To begin, I just would like to inform everyone that I will be spending the next day or so compiling the rest of the SMP Compendium and having it available for download on The Fourth Estate. My plan as of late is to ensure that the First Edition of the Compendium is ready before this month is over. I say First Edition because the Compendium has a lot of places that need proofreading, but those affected entries will need to be saved for the Second Edition someday. After all, I would like to discuss about the relevant topics posed by the Compendium: the Socialist Student Economy (SSEs) and the Reciprocal-Reserve Banking System; instead of “Compendium,” they will be marked under “Third Place.”

There is far more to the concept of the Work-Tenure as a NSFI (National-Socialized Financial Instrument) than just being an Interest-free bank loan. Its peculiar characteristics suggestively indicates that it is possible for the Lender to be giving the Borrower something else besides Geld. The last Blog post, “On Hamiltonian Federalism and Friedrich Nietzsche (Pt. III of III),” had a peculiar context where it is possible for Work-Tenures to also include specific Equipmentalities:

Contrary to Jeffersonian propaganda, the Germanic Shopping Mall still has the latent potential to provide necessary infrastructure for the young people governing their SSE (Socialist Student Economy). It truly is the real Third Place in America where I can reimagine it as a Castle, a Palace, a Citadel housing Heliopolis Internet CafésOffices of the Federal KontoreFederal-State CommissariesEGOs (Extracurricular Guild Occupations); Student CouncilStudent Infirmary/Apothecary and Student Patrol and Intelligence ServicesArt, Film, Music, and Gaming Studios; the Cinemas and Theaters determined to compete with Hollywood and Broadway; the Maid Cafeteria with chandeliers and uniformed maidens playing Nietzschean music on pianos; Dormitories and Barracks to accommodate transfer students and Youth Hostels for those on Spring Break. Will there be complications? Of course, but why wouldn’t there be any to speak of?

Germanic Shopping Mall was always about providing them a city square or town square for congregating, socializing, organizing. This Germanic Shopping Mall is capable of becoming something far greater than just a city or town square, let alone some Americanized alternative to the Soviet and Eastern Bloc Palaces of Young Pioneers and Schoolchildren. It can and it shall become either a Castle, a Citadel or a Palace, revitalizing Main Street and redeeming Wall Street. The Parking Lots of Automobiles, originally the Livestock Stables of Horses, Motor Pools for MATVs and Airfields for C-Wings. Why, those surrounding suburban houses and shopping centers are even capable of being those European-like towns and villages to go with all of this infrastructure. Given the right degree of critical and creative thinking, pretty much everything described above is capable of becoming an historical reality with the Work-Standard.  

What I am now thinking about while compiling the rest of the SMP Compendium together in one .PDF file is the idea of a Vocational Civil Service Economy manufacturing bicycles and clocks, automobiles and motorcycles, trains, speedboats and merchant vessels, aircraft, houses, apartments, building tenants, furniture and appliances, home appliances, technical patents, artworks, firearms, and anything of value that is non-perishable can be earmarked in the Inventory of Strategic Resources. Unlike “Commodities” and similar to Equipmentalities, they are distinguishable enough to be differentiated and we can trace them back to their respective Industry, Enterprise and even which Profession and Vocation created them. A delicate Standardization mixed with Individuation in the Jungian sense. They can even be disassembled, mothballed and deposited to the Reciprocal-Reserve Banking System, ready to be withdrawn when needed without any Interest and no additional Service Fees.  

I have not ruled out that possibility because I can see this same scenario taking on different forms, even with the Work-Standard. Here are some historical and contemporary examples where the Reciprocal-Reserve Banking System will come in handy (and are never limited to):

  • A university student in Connecticut is interested in moving out of their parents’ house but cannot afford purchasing their own home or apartment, not to mention lacking the Geld to purchase whatever tools and instruments that they may need for their Vocation.
  • Newly-wed couple in Iowa is starting a family farm somewhere in the countryside, except they do not have the Geld because their families came from Chicago.
  • Computer software developers in the West Coast States are investing Geld into Meaningful Works on the Federalist Intranet, except they are compelled to become their own economic planners (a noble venture in itself) because of their Vocations and Ranks.
  • A Michigan mechanical engineer is creating his own automotive enterprise, except his superiors in Detroit or Flint are uninterested in turning his idea into a subsidiary.
  • Californian archivists, determined to prevent the loss of artistic creations in filmmaking, needs a Clearinghouse to deposit the originals to the US National Archives and needs sum of Geld to create copies for future generations.  
  • A North Carolinian musician is looking to contribute her Arbeit to the Bluegrass genre, except she is also interested in syndicated radio broadcasting.
  • Appalachian coal miners are looking forward to Meaningful Work at synthetic gasoline and rubber plants to fuel automobiles and keep them rolling on the Federalist Autobahn, except they need the Geld for the required retraining at the Union’s SSE, the Unified Federalist Student Economy (UFSE).
  • Medical Guilds from several States need Geld for renovations and additional equipment, prescription medication, tools and life-support machines for hospitals and clinics. They also need somebody else besides economic planners to oversee Settlements of payments.
  • Some Prussian youths had arrived in the Union to oversee the construction of Prussian armaments manufactories with their American Cousins along the Delaware River. They need somebody to wire Geld from Hamburg, Danzig and Königsberg, converting from Großdeutsche Marks to US Notes and the invoiced Service Fee paid by next month.
  • Those two American Prussian Cousins of theirs may be billionaires, war heroes of the Third World War and now government officials at the UFSE, have ambitious dreams of creating Citadels, Castles and Palaces for the UFSE. Massive construction projects are taking place and they require immense sums of Geld to oversee redevelopment of cities and towns.    

Do people really think a National-Socialized Bank (NSB) is just going to ‘lend’ all of these people Geld, if any of them were to borrow a Work-Tenure? Do people also think that we ought to have large numbers of economic planners in contexts where they are not required? Since the Work-Standard eliminates Rents and Mortgages, Student Loans, Automotive Loans and Business Loans, the Reciprocal-Reserve Banking System is also capable of overseeing the logistical movements of everything that is needed in each of those examples. Bankers are capable of lending Work-Tenures to these people and ensuring that these Work-Tenures are paid back in full. I have full confidence in their ability to ensure that our economic planners will have fewer things to deal with.  

More importantly, we are going to need to make sure that there will be no more Insurance under any conception of Socialism. Insurance payments, even without the Copays, Deductibles and Premiums, eventually devolve into another form of Rent. Unlike the Liberal International Economic Order (LIEO) of Liberal Capitalists, Rents have no place under the Work-Standard and this Socialist International Economic Order (SIEO) of Nationalists and Socialists. Great care is needed to ensure that the Totality of any nation has a portion of their Geld allocated toward ERRBs (Economic Redevelopment and Reconstruction Banknotes) and NFAKs (National Financial Autarky Kits). The Reciprocal-Reserve Banking System is capable of processing them with the World State Organization and allowing the WSO to peg them to a World Reserve Currency. Any nation in need of a very large sum of Geld for peacetime purposes will receive what they deserve vis-à-vis Reciprocal-Reserve Banking.

Everything discussed here are capable of becoming realities when Financial Engineering is applied according to Work-Standard and Socialist Finance. Eventually, I would like to explore in a more comprehensive and detailed matter the proposal for “Youth Citadels of the UFSE.” No plan or date has been set to discuss the topic, so I will have to write another Blog post in the near future.      

Categories: Third Place

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