The indian statists have decided that some special paper is bad. 500 and 1000 rupees currency paper is no longer an acceptable token of exchange. Billy Gates of B.M.G.F., yes vaccine pusher Billy, agrees that digital money will solve the corruption and poverty of the unbanked. However the indians have identified a local, tangible and life sustaining alternative to e-money that needs no batteries and technology from technocrats like Billy boy Gates.
Rice. Rice as the means of exchanging value. A token of exchange.
Based on this we create an open and public repository of rice of different weights. 1kg, 2kg, 5kg, 0.5kg, 0.25kg. We can exchange rice notes of different weights knowing fully well that it is redeemable for the exact weights in rice.
The public rice repository’s records and physical rice are open to viewing by the public. If a discrepancy should occur between the records and the physical rice, the custodians will face a public penalty for fraud, incompetence and theft! All existing Rice Notes become immediately redeemable and voided for further use.
After the audit, we start again. The rice notes will make it clear to everyone the interchangeable nature of our tokens of exchange and its reliance on honour (trust).
Think the Federal Reserve, IMF, World Bank, B.I.S., Bank of England can compete with this clear as day expression of money as a token of exchange?
Nope, they can’t. The current banksters love their national and supra-national immunities from public accountability.
Everyone can comprehend Rice Notes. It requries no batteries, no e-wallets, no readers. no phones. The owner is gauranteed the denominated weight in rice, which they can always eat should the need arise.
There is one fly in the ointment though, some dodgy company by the name of Monsanto will demand that Golden rice be accepted into our public rice repository and that it should be valued higher that normal rice due to its Golden colour. We will have to resist this corporate demand even if we are seduced by the golden colour of their rice.
Note: Just in case the BBC or CNN decide this is fake news, I am declaring it is satire, a piss-take of Indian statists and Bill Gates.