currency

pencil in sketchbook, a5, 2012

[conceptual and contemporary. as control words.]

where capitol is held in reserve credit is used however if you were to take your five pound note to the bank of england (or the queen) to exchange for the equivalent in whichever mineral is favoured as our standard, they will laugh at you, possibly have you beaten. capitol is energy, energy which can be valued; by say (for the sake of argument) gold. food is energy, the work you put into growing the food is energy, maintenance is energy – the direct application of energy is capitol but it is not worth a penny. capitol is not worth money unless it is conceptualised as product i.e. someone is willing to buy it or someone with a ‘name’ is willing to endorse it

i have not mentioned resources or technology.

resources are finite – though they fall into categories of ‘very finite’ and ‘finite / sustainable’. the first category, for example coal, will require an ever expanding and massively increasing amount of energy to claim it from – wherever it is it comes from – earth perhaps and that energy

remember the second rule of thermodynamics. the one science fiction is constantly inventing new ways of breaking, or ignoring. of energy transformed from one state to another some energy will become unavailable for work. the more energy consumed the more is ‘lost’. the more difficult it is to claim oil or coal the more energy is expended in extracting it and the higher the entropy.

whereas ‘finite / sustainable’ requires more work-as-energy than finite does resources-and-work-in-massive-quantities-as-energy. just so we are clear.

then of course you have ownership of resources which is a conceptual energy source but the only one which has value in our economy – the only thing which everyone will accept as ‘hard’ currency. paper currency is based on ‘ownership’ the value of the item is equal to the value of the paper the credit market will stretch the estimate of both paper and item until… neither have value. so coal will become more expensive to extract than it’s value on the market – the energy put in is more than the energy to be taken. but due to clever currency exchange, clever investment, clever speculation, clever brutalising of competition, there are people expecting to make vast profits from it

profits are currency and profits are power and also authority, and these are energy that have to come from somewhere. authority is the awesome actuality that the system exists – the contemporary system – the system we all contribute towards because that is currently the state we exist in i.e. these are the forces acted upon us, the forces which we must (because they are) reinforce.

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