The Memetics of Money & the Future of Digital Currency

In my book MEMEnomics, I dedicate an entire chapter to studying the role of money in human emergence which sets the stage for the premise of the book that money has to be tied to human productive output. This is  a measure of the accountable fourth (Blue) system of values.  For over 8,000 years this catalyst for upward mobility has served that critical function in the fourth level value system, but our misguided monetary policies sought to change that history in the last 40 years.

The unhealthy expression of the Orange fifth level system (strategic manipulation) has had its run at it and has corrupted it. The result was the 2008 financial crisis and its aftermath that I, along with a few economists call the Great Contraction. European governments have used money  as an agent of the Green value system (Egalitarian and Humanitarian values)  to bring on equality, and of course, we’ve seen the results of that; a deeper and longer lasting economic contraction.

Because of the fourth level functional nature of money, measures have to be constantly put  in place to safeguard against it corruption. Money, regardless of the expression it takes (digital, paper, gold etc..), without having a visible regulator to deter the predatory nature of the 3rd (Red) and Fifth (unhealthy Orange) systems, will always be exploited. Pure and simple. No Utopian Green thinking will ever change that.

bitcoins2There was no exception to this assertion  even with money’s recent incarnation as a digital currency. For years I have warned about the many vulnerabilities inherent in Bitcoins.  The recent bankruptcy filing of Mt. Gox, the largest Bitcoin exchange  in the world proves that point.  Money has to always be safeguarded by a constantly evolving fourth level system (SmartBlue) in order to protect it as one of the oldest social contracts known to the human race; the safest store of value.

To read more about my views on the future of digital currency, Click here for an article I wrote to the Huffington Post about the subject. The piece was written just a few hours before Mt. Gox filed for a half-billion dollar bankruptcy protection from creditors.

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