— Awakening to the One Mind through the Nature of Money
“Self-government, so-called, is the art of governing government. It has been slowly and painfully developed. Now, through an Open Sesame to tyranny offered by the universal ignorance of money, it is threatened with becoming a lost art. The state's modern method of deceiving the citizen with counterfeit money menaces civilization through a confusion of monetary tongues and renders society unfit for self government until its ignorance of money shall be dispelled and government of government restored by the separation of money and state. In view of the transcendency of this issue, where is there a friend of freedom who will not give its solution priority over any and all other reforms? I ask you, Earnestly, E. C. Riegel.”
1. Money Power: Awakening the One Mind
Despite the neat textbook tales—that money emerged to fix the clunky 'double coincidence of wants' in barter—history tells a different story. As anthropologist David Graeber (1961-2020) pointed out, there is zero evidence that barter ever came before money.
Paradoxically, the Science of Economics remains stubbornly silent on this matter. It effectively obscures the profound metaphysical and thermodynamic implications underlying the origin of Money. Whether orthodox or heterodox, the Titans of Economic Theory stay locked in their Ivory Towers, ignoring any perspective that challenges the narrow assumptions upon which their theories are built.
Regarding this, John Ruskin (1819-1900) offers the following biting critique:
"Among the delusions which at different periods have possessed themselves of the minds of large masses of the human race, perhaps the most curious —certainly the least creditable—is the modern soi-disant science of political economy, based on the idea that an advantageous code of social action may be determined irrespectively of the influence of social affection."
Ruskin’s concept of Social Affection is not a mere sentimental emotion; rather, it is reinterpreted here as the One Mind—the higher state of consciousness where the boundaries between ‘you’ and ‘me’ dissolve. This One Mind is the ultimate motive power of the human economy. It is the very source of Willing Relinquishment that transforms a simple Token of Gratitude into a Potent Power.
To put it bluntly, the essence of Money is Power. It is a magical alchemy that enables us to manifest our needs (demand) and summon the means to fulfill them (supply)—resources that were previously beyond our reach. This is no mere metaphor or figure of speech; Money is a functional social medium that unearths demand and orchestrates supply, acting as a conductive medium that accelerates the 'transformation and flow of energy' known as Wealth. It is a profound power granted exclusively to human beings, those who operate with the soul as their driving force.
Through this Power, humanity breaks through the physical constraints of scarcity and depletion to enter a realm of infinite abundance. It allows us not only to maintain the healthy self-reproduction of our species but also to dismantle the physical and metaphysical barriers in our path. Ultimately, it empowers individuals to transcend mere survival and achieve Presence—existing as free, distinct, and fully realized beings.
E. C. Riegel (1879-1953) designated this force as Money Power. In its truest sense, Money Power is not an isolated right, but aRelational Sovereignty—the inseparable ‘two sides of the same coin’ comprising Issuing Power and Purchasing Power that exist only within the nexus of you and me.
This is because the power to issue currency (Issuing Power) and the power to acquire wealth (Purchasing Power) are not solitary rights, but forces that manifest only within the dynamic interplay of a community. One’s capacity to Purchase is inherently predicated on a prior power to issue that is recognized and validated through the trust of another. Thus, Money Power exists only within the Relational Nexus of you and me.
In relation to this Money Power, one crucial point must be emphasized: Issuing Power can only emerge when one member of a community Willingly Relinquishes their own wealth for the sake of another. It is precisely in this moment that the source of Purchasing Power is born—rooted in the beneficiary’s profound sense of Gratitude and Beholdenness, and the solemn commitment to return the favor someday.
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[1]) The New Approach To Freedom, E. C. Riegel, 1949
[2]) Debt: The First 5000 Years, David Graeber, 2011
[3]) Unto This Last, John Ruskin, 1862. Originally published as a four-part series in Cornhill Magazine starting in August 1860, these essays faced such fierce backlash that there was intense pressure to halt the serialization. Hardly surprising, really, considering the era was ruled by the 'prodigy of gifted education' John S. Mill and his band of experts. One can easily imagine the scale of the frenzy when a mere 'nobody' of an art critic dared to stir the pot in their sacred professional domain.
[4]) Unto This Last, John Ruskin, 1862
[5]) "Ye sheep without shepherd, it is not the pasture that has been shut from you, but the presence.” - Unto This Last, John Ruskin, 1862 (Note: Here, Presence signifies the state of human sovereignty and the restoration of one's whole being, as opposed to being a mere factor of production.)
[6]) Private Enterprise Money: A Non-Political Money System, E. C. Riegel, 1944
[7]) Another name for this 'willing relinquishment' is ‘giving and re-giving’ or ‘sharing’.