Can We Create a New International Currency to Serve as the Global Standard?by@davidolarinoye
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Can We Create a New International Currency to Serve as the Global Standard?

by David O.October 19th, 2023
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A new global standard currency to replace the current global reserve currency is a new international currency idea I call Kash. 1 Kash is the monetary amount of energy required to melt 5 grams of silver under very specific conditions. Kash doesn't exist. All currencies are just measured in reference to it.
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This is not the first time I have had this idea. But after watching a documentary on how bad the financial system currently is, I figured I have to share what has been revealed to me. When the thought first came to me, I assumed it was special. But I didn't do anything with it. Now, I think it is time to share.

Why Gold Standard Won't Work Anymore

Before sharing my idea, I want to explore the options I have heard thus far and why they won't work. First up is gold. I still heard recently that the USA needs to go back to the gold standard.

But there is a big problem with that. How will the transition take place? The amount of money in the world already trumps the amount of gold in the world by a lot. Don't be deceived by the GDP numbers, the money circulating the globe is in multiples of that.

Banks are not going to sit there while they watch governments kill their business by going back to the gold standard. The gold standard means that banks can't do fractional reserve banking and all the other things they've been doing.

And recently (since 2020), they don't even need a reserve ratio anymore. They are dealing in trillions of dollars with the ability to create more at will. To attempt to take the US dollar back to gold is a suicide mission. Anyone in government who seriously embarks on that will likely be eliminated in some way. (Yes, it comes to that at times).

Another option is a basket of commodities. This is another problem too. Those commodities flow through trades facilitated by big banks. So, it will just be playing into the hands of big banks again.

It may take some time, but we will end up with the same problem if a basket of commodities is used. Moreover, that comes with complexity and it will be a hard sell to everyday people.

Also, the big banks love complexity. That is how they keep prying eyes out of their business. The more complex it is for the average person, the better it is for big banks. Nothing will change.

Another option is energy. The problem is that you already have a cartel with crude oil. Power will just change hands. The manipulators will change from bankers to oil producers. This may be slightly better because those are producing something useful to society (unlike banking which is just a paper service).

To use renewable energy is dead on arrival. First, renewables cannot power a significant portion of the planet. And it is expensive. It would weaken the general public and money control would still be concentrated in the hands of the few.

It can't be the Chinese yuan, Russian ruble, British pound or any other country's currency. And this is for the same reason the US dollar is not doing well as the global reserve. When one entity owns and controls the global reserve, they enrich themselves and suffocate all others.

Now, you are thinking maybe it is bitcoin. And bitcoin looks like the salvation for a while. But it has an intricate problem. It requires acceptability and its value is still in reference to the US dollar. In other words, any currency that can be traded by the financial markets MUST NOT be the global currency if we want to have prosperity with fairness.

Qualities of the International Currency Standard

There are 7 qualities that a currency that the world can adopt as the new standard must have:

  1. It must not be tradable on the financial markets
  2. It must be verifiable (by anyone independent of the big banks, corporations, and countries)
  3. It must be directly connected with something that everybody needs and uses. A good connection will be to energy
  4. It must be unprintable. Meaning that you cannot create more of it from thin air
  5. All currencies can be measured in reference to it on a fair basis
  6. The value of a country's currency to it must reflect the well-being of that country
  7. Its system of operation must be unhackable such that independent people can validate or invalidate

The New Standard

This idea came to me while thinking about the meter. How did we define the meter? And how has it stayed that way and remained unchanged?

Well, the idea is that you can't print meters. You can't simply create a program to create more meters. And just like that, the idea flashed into my mind…

What if we had a currency that can't be spent?

The big disadvantage of bitcoin was that you could spend it. And prices were still standardized in the US dollar (and in the currencies of other countries). So, you had to reference bitcoin to other currencies in the financial markets. Hence, the volatility swings.

And the volatility swings make it improper to be the new global standard. So, to eliminate the volatility swings, why not have a currency that can't be spent? A currency whose unit is fixed. Just like the meter, it remains what it is.

You can't buy it. You can't spend it. You can't save it. It is just a unit of money. And every day, the currencies of the world are measured to that unit. And business is conducted based on that arrangement.

So, let's call this currency - Kash

What Is Kash?

Kash is a unit of money designed to be the global standard in the modern era. It is pegged to energy. It cannot be bought, sold, or shorted. It is not printable. No country or bank has a monopoly over it. Anybody can verify or validate it.

1 Kash is the monetary amount of energy it takes to melt 5 grams of silver under very specific conditions with a precise instrument.

This means that if (in the USA) it costs $25 to melt 5 grams of silver under these precise conditions, then 25 usd = 1 Kash.

The day it becomes cheaper (let's say $15) to melt 5 grams of silver under those same conditions, 15 usd = 1 Kash. The Kash never changes. The currencies fluctuate with respect to the Kash.

So, every day, these experiments are carried out by private individuals and organizations across the globe for each country. And that will determine the of the country's currency to Kash.

For example, in the UK, you do the same experiment and discover 1 Kash to be £13. That is what it is. If the energy situation gets bad and the cost goes up to £23. That is what 1 Kash becomes.

1 Kash will always be 1 Kash. And that is the cost of energy required to melt 5 grams of silver under very specific conditions.

Now, you may be thinking how that will work for a whole country. In America for example, the value of 1 Kash will be determined in each state. Then the average becomes the value of the US dollar.

As the system integrates further, each town and city will be able to measure and contribute to make the average for the state. Then, all 50 states will be calculated to make the average that will be accepted as the US dollar value for Kash.

This experiment can be verified by anybody. The specific conditions for the experiment will be very simple and require tools that regular people have access to.

Independent volunteer validators across the world can verify the value of their currency to Kash at least once per week. As adoption grows, people can label their goods and services in Kash. So, when people want to pay for it, they check the value of their currency in Kash and pay the equivalent value in the accepted currency.

You cannot use Kash to buy or sell anything directly. I know the financial markets will create derivatives and ETFs for Kash, but only fools will buy them. They will only be investment products and the people who buy them will know that they are buying something that doesn't exist.

This will be a good thing for bitcoin. This is because bitcoin has a direct relationship with energy. The value of bitcoin can be directly correlated to Kash. Hence, people can trade with bitcoin while the unit of their monetary value is measured in Kash.

Kash becomes the stablecoin for bitcoin. And we render the dollar dominance useless.

So, Kash, the currency that doesn't exist can save the world. Don't worry about the big banks, governments, etc. They will sort themselves out and find ways to survive.

There. I just solved the biggest problem in global finance and modern economics. I hope I get a Nobel prize lol.

The Specific Conditions

This has to do with the process and tools used to melt this 5g of silver. And at what state of melting is deemed sufficient? This has to be fleshed out in an economic paper. Unfortunately, it is not something I can go into detail with here.

I hope I can find an economics professor that we can work on this together quietly. And then launch to the world as a massive shock to the financial world.

This is just a rough idea. And this is how we break away from the tyrannical rule of central banking. Many people are already hovering around this idea. So, it is something that is bound to happen one way or another.

I am just pleased that I have been chosen as a vessel to communicate this. If you have the resources to make this into a proper economic paper and perhaps carry some (freedom-loving) crypto organizations along, I would be happy to stretch this out.

The Aftermath

Without a doubt, this will end the dollar dominance and automatically solve many economic problems. Yes, I am aware it will create new problems too. But the problems that will be created will be insignificant to the ones we have now.

Just imagine BRICS adopts the Kash system. And let's assume other some countries do too. That will fix a lot in international trade. Governments will not be able to manipulate their own currency to mess with other countries.

And there will be a lot of validator organizations. Since the value of Kash is determined by a simple process that anyone can check, there will be lots of organizations who can have volunteers who display the value of Kash every day.

Some can track Kash to bitcoin. Some can track Kash in specific countries to their respective currencies. Some can track Kash in Asian countries. Some can track Kash in European nations. And so on like that.

So, as an example, Binance can have their own system of validators that track Kash. The IMF can have theirs. A Christian organization can create a network with theirs. People, businesses, and individual sellers can then choose which validator system they trust and will be using. Validators must be volunteers.

If a validator system is discovered to be fraudulent, people can see what other validators are saying and quickly switch away from the liars. And the liars will find it incredibly hard to build back up their damaged reputation. Governments can have their validation system, but of course, no one (in their right minds) would trust it.

There will be an unspoken allowance percentage. For example, if 3 validator system in the USA says $25.07, $25.12, $25.16 equals 1 Kash. And then one validation system says $35.89 is Kash, you know there is a problem. That is the sign that someone is lying or manipulating something. Whoever is caught lying will have to deal with the loss of reputation that follows. No one can stop them from publishing the value of Kash, only that nobody will use their numbers anymore to calculate anything.

If two parties are about to negotiate a transaction in Kash, it is important that they identify which validator system they will be using on the contract. To be safe on very large transactions, they can choose to use the average of 3 trustworthy validators.

You and a group of friends can start your own validator entity for any country and publish online. At least, once a week, the reading for each city (or state) is taken. This is then computed to make the average for the country. The experiment and reading is taken from an household unit (not industrial unit).

There is no specific date or time when a volunteer is to take the reading. If any validator system is discovered to be mandating their volunteers to take readings at a particular day and time, they get exposed online. The readings must be taken once a week, but day and time is left to the discretion of each volunteer.

The people living in a country will know the most accurate Kash validation network. Since it works on a volunteer system, if people don't know anyone around who is a volunteer validator for a network and they try to find but can't seem to meet any one in real life like that, then you can be sure that validation network is a fraud.

I recommend big organizations like OPEC, BRICS, IMF, JP Morgan, Goldman Sachs, not to have their own validation network. However, they can have 3-4 validator network that they trust. This is because if their have their own network, 95% of people won't trust them (to use them) anyway.

For the first time in the history of mankind, let us have honest money manned by the people. My job is to plant the idea in as many heads as possible until this picks up real momentum. I hope to work with an economics professor to write a paper on it (and hopefully win that Nobel prize). But if it is done without me, I am happy regardless.

So, the seed has been sown. Let's have a stable currency as a global standard that is not printable. Let’s change the world.

Dear internet, do your thing.

Also published here.