Banking Fintech

A world without money

A world without money. Image by MrVoblerman, Shutterstock.com
Written by Chris Skinner

Chris Skinner ponders a future without money. If money is a myth created by governments to control the masses, what happens if we have no money?

I have no academic papers or historical research view on what I’m about to post, though I will find some, but I was reflecting on my discussions of revolutions in humanity. In particular, the second age of humankind, when we invented money as a control mechanism.

Before this seismic change, money didn’t matter. We shared beliefs that allowed us to live together in relative peace, but the creation of money changed the balance of humanity. Some of us became more powerful, while others became weaker. In fact, the biggest change between the first age and the second age is that it’s no longer muscle that wins. It’s brains.

Money is just a myth invented by the powers-that-be to control the masses. This is a truism that’s explored over and over again on Ted Talks, in the movies, in the media and in life. Think about it: Ancient tribes didn’t care about money. They cared about food, shelter and basic human needs. There’s a tribe in the Bay of Bengal that no one visits because they attack any sign of humans. I’m sure they don’t have money.

The reason I’m writing this is that I’m wondering about the future of money. If money is a myth created by governments to control the masses, then what happens if we have no money in the future?

Unfair distribution of wealth

This is an idea put out there by Gene Roddenberry, creator of Star Trek, and seems to be supported by libertarians who want money without government. What’s the point of money without government when the whole point of money is to create an unfair distribution of wealth in society? By creating an unfair distribution of wealth, you create those who are controlled and those who are controlling. Those who are controlling gradually concentrate their wealth into the smallest number of hands. This is why eight men today have half of the world’s wealth. Just eight men.

Without money, what are we? All equal? Yet, some must surely be more equal than others. That’s the point of government, wealth and the uneven distribution of wealth. It’s part of being human.

The futuristic vision of Star Trek is that the acquisition of wealth no longer drives humankind. IT is the betterment of humanity through exploration and knowledge. What’s the point of that? Without wealth, we have no leaders. Without wealth, we have no drive. Just ask the Norwegians or other countries where everyone has a basic income guaranteed. If you need not work for shelter, food and fun, then why would you work?

OK, I’m going off on a tangent, but the core of humanity is power. Power is gained through the accumulation of wealth. Yet, before money was invented, power was gained through the gravitas and muscle of the alpha males of our colonies.

Could you imagine if we stripped the world of money and wealth and tomorrow returned to a world where wisdom and muscle ruled? Where would Donald Trump, Vladimir Putin and Recep Tayyip Erdoğan be? What would happen to Africa and the suffering nations of the Sudan, Somalia, Djibouti, Ethiopia and other countries?

Stripping the world of the wealth focus and monetary controls could be an interesting future nirvana … or it could be anarchy and destruction. What’s your view?

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– This article is reproduced with kind permission. Some minor changes have been made to reflect BankNXT style considerations. Read more here.

About the author

Chris Skinner

Chris Skinner is an independent commentator on the financial markets through the Finanser, and chair of the European networking forum the Financial Services Club, which he founded in 2004. He is an author of numerous books covering everything from European regulations in banking through to the credit crisis, to the future of banking.

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