The end of the exchange system

And the transition to a cooperation-based society through “Information Money”: if we progress our thinking a little further, we see that we don’t actually need to conclude contracts with each other (out of which claims and liabilities then arise) to be able to cooperate economically. In today’s system (money as a medium of exchange) we have an abstraction of an exchange medium. We behave as if we are passing valuable (gold) pieces around in a circle, even though what is being ‘moved’ are valueless digits in bank computers. Nothing is really being passed around. Numbers are simply created and deleted. If all citizens were to conclude their (life) contracts with the whole community (the network or the “democratic central bank” responsible for creating legal tender as an abstraction of the exchange partner), prices could be established asymmetrically. In other words, a seller receives e.g. 10$ for each widget sold, an amount that is then booked/created as an accounting entry under “cash on equity (at the democratic central bank)”, e.g. via a UID such as a social security number. But his/her customers pay individual prices; one pays say 5$ for the widget, another perhaps 20$. These ‘prices’ belong to their personal life contracts (booked as “expense on equity”, but this ‘money’ remains in their individual accounting circuit from which it is also destroyed).