{"id":66559,"date":"2024-01-22T08:15:39","date_gmt":"2024-01-22T13:15:39","guid":{"rendered":"https:\/\/olduvai.ca\/?p=66559"},"modified":"2024-01-22T08:15:39","modified_gmt":"2024-01-22T13:15:39","slug":"a-renewable-energy-future-will-collapse-the-financial-system","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=66559","title":{"rendered":"A Renewable Energy Future Will Collapse the Financial System"},"content":{"rendered":"
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A Renewable Energy Future Will Collapse the Financial System<\/span><\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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\"Energy<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Energy is the economy. That\u2019s a radical concept because most people think that the economy runs on money. It doesn\u2019t.<\/p>\n

What is energy? It is the potential or capacity to do work. The economy runs on work. That\u2019s why energy is the economy. That\u2019s simple.<\/p>\n

What is money? That\u2019s a little more complex.<\/p>\n

\u201cMoney is not the value\u00a0for which\u00a0goods are exchanged, but the value\u00a0by which\u00a0they are exchanged.\u201d<\/p>\n

John Law<\/a><\/cite><\/p><\/blockquote>\n

In other words, money has no inherent value. Economists often attempt to change the subject by pointing out that money is at least a medium of exchange, a store of value or a unit of account. The same, however, could be said for\u00a0cigarettes that were used as money<\/a>\u00a0in Communist Romania in the 1980s.<\/p>\n

\u201cSociety runs on energy and materials, but most people think it runs on money\u2026[Money] is created as debt subject to mathematical laws of compound interest\u2026Money eventually gets spent on a good or service which will contain embodied energy. Money is a claim on energy yet its creation is not tethered to energy availability or cost.\u201d<\/p>\n

N. J. Hagens<\/a><\/cite><\/p><\/blockquote>\n

In the end, money\u2013as paper, coins, gold or cigarettes\u2013is just a\u00a0financial<\/em>\u00a0claim\u00a0<\/em>on\u00a0energy<\/em>, a marker, a unit of account. For example, I may contract someone to do work for me\u2014to build a fence or to move some heavy equipment\u2014and we agree on a payment amount. I pay him dollars for his physical work (joules). He may then use those dollars to buy food (joules), gasoline for his car (joules) or contract someone else\u2019s labor to do some work for him (joules). Money is the\u00a0medium of exchange\u00a0but the\u00a0value exchanged\u00a0is energy.<\/p>\n

\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A Renewable Energy Future Will Collapse the Financial System Energy is the economy. That\u2019s a radical concept because most people think that the economy runs on money. It doesn\u2019t. What is energy? It is the potential or capacity to do work. The economy runs on work. That\u2019s why energy is the economy. That\u2019s simple. What […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[8195,195,309,317,674],"class_list":["post-66559","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-art-berman","tag-debt","tag-fiat-currency","tag-financial-system","tag-renewable-energy"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66559"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66559\/revisions"}],"predecessor-version":[{"id":66565,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66559\/revisions\/66565"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}