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Lectro: a new currency based on electricity
Material posted: Publication date: 12-02-2013

A couple of weeks ago, quietly and without much fanfare has introduced a new monetary system that requires more careful consideration. This idea is so profound that it could potentially solve some of the biggest problems faced by human civilization. Increasingly the masses are horrified to learn that the current predatory monetary system is the greatest threat to human freedom, peace and harmony with the environment, and should be abolished and replaced with something new.

The pioneering proposal is the creation of a monetary system based on electricity. Popular radio announcer and former NASA scientist, Michael Rivero, guided by their knowledge and extreme dissatisfaction with the current banking system suggested "Lectro" is a universal currency based on kilowatt-hour of electricity. Rivero writes:

What is needed is a means of exchange, which increases according to population growth so it can continue to maintain stability and retain permanent value.

Thus my proposal was to use electricity as the universal basis for a new value-the monetary system. To indicate in the discussion I called this currency "Electro". It shares for one kilowatt-hour of electricity.

Lectro is a constant universal value, is decentralizing money creation, stimulate efficiency and innovation, returns the results of your work man, can't be monopolized, it cannot be manipulated, and it creates wealth instead of need in the transition from human labor to work the machines.

To innovative proposals Rivero, the debate over monetary proposals revolve around the same systems, which has generated all this financial turmoil. Someone called for a return to the gold standard, others saw as a solution free from percent of currency from the Finance Ministry without participation of Central banks. By the way, both sides are looking for a new model in completed, with its own advantages and disadvantages.

Gold advocates claim that paper currency (which is not provided) is not the money, because it has no natural value, and critics of gold argue that these raw materials are not infinite, and they also can be manipulated. Lectro solves these problems, and moreover, he has a real cost, it is decentralized, and the issue of this currency is infinite, at the same time, seamlessly adjustable.

Throughout its history, mankind has used four kinds of money: raw materials, receipts, unsecured paper currency and fractional money (prob. refers to non-cash money circulating in the banking sphere; approx. mixednews). It is obvious that centrally controlled Fiat currencies and fractional money was one of the greatest tragedies of mankind. Gold and silver coins (commodity money) and 100% exchangeable for gold deposits (receipts) are widely regarded as the only correct and honest monetary system in history. Because electricity is a commodity that cannot be touched, currency Lectra takes the form of monetary receipts, exchanged for one kilowatt-hour could be exchanged for any goods and services on the market.

Rivero explains that the issue of currency Lectro can be done by anyone who is able to produce electricity; so that the release of such money cannot be monopolized. When energy is created, Lectro start to get into circulation, and use of energy, Lectro withdrawn from circulation. This, according to him, will make runaway inflation and speculation impossible while keeping emissions under control the market demand for energy.

Because your system does not have debt or inflation, the workers and the business is not going to chase ever-increasing cost of living. This system is also likely to allow people to own their work and skills. As incentives for the conservation of energy and innovation are byproducts of the system, everyone will have the opportunity to participate and benefit.

The mechanism of the exchange for the new currency of this type does not require intermediaries such Bank or clearing house. For electronic purchases, a mechanism similar to the mechanism of bitcoin, where everyone has a private electronic wallet and electro can be forwarded from one purse to another. Therefore, no one will need a Bank account – only wallet. Also in accordance with the model of bitcoin, the entire monetary system can be opensourceway, so the creation of money will be 100% transparent.

Perhaps the most important side effect of such a system would be a benefit to the environment. Because the current monetary system is subject to inflation, it requires constant growth to stay afloat. This mechanism is responsible for the rampant destruction of the environment; but with Lectro growth is not absolutely required. Lectro will grow in mass according to the need of people to electricity.

In the future things will be smaller, but it will still be electrified. Communicators have already absorbed countless different gadgets – the telephone, radio, game, Internet, can offer only device. Imagine how many resources would be saved, so that you will not need players, phone booth, CD-DVD players, or TVs. But with the consolidation of technology many people will lose their jobs in many areas, and that is why a new monetary system must adapt to this trend.

Indeed, in the near future electricity will be used to control many if not all aspects of our civilization. The world has become much more automated, and human labor will soon be replaced by the labor of machines. Just imagine the effect in the future 3D printers that print anything from tools and toys, to food and bodies. Imagine such a printer in every home – featuring a Cup, plate or spanner when you need them, or even just lunch. Again, the usual jobs are lost forever, but allowing people to create money (electro), they would be exempt in terms of dependence on others for survival. Here's how it explains Rivero:

In the long term, the creation of an energy-based currency will smooth the transition from human labor to work the machines. At the present time, human labor is superior to capital the entire paid in the monetary system that pays primarily for human labor. When you switch to a system that pays for the electricity production based on machine production, we evolve into a society where cars are the primary creators of capital and people in the economy will shift towards demand. Instead of creating needs, the transition to automation creates more wealth.

Finally, many supporters of the new currency system is driven by an aversion to monopolistic control and currency manipulation. This leads to disgust with respect to any common world currency. However, Lectro, given its universal value, can potentially be used as a global exchange mechanism, but without centralized control. In turn, such a currency has the potential to liberate all people from the bondage of debt, and reverse the destruction of the ecology of the predatory economic system.


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