Mirza Shahnawaz Agha
THE passion and ecstasy for changing regimes all over the world and the ‘democratic’ soap opera by regimes displaying compliance plus subservience is the top show on the planet! The show is called Money! Money that represents value and that value is intangible! This show is unique and unprecedented in many other ways too, because us spectators are a captive audience, and the ticket is free! I am constrained to refer to our ideology, which does not recognize money, the ‘medium of exchange’ as a commodity. In fact it is seen as a measure of labor. More. Labour by our ideology again, is non-discriminative and without disparity. This is the war on terror mother earth is plagued with. It is incumbent upon us to remedy the dilemma to save our souls. The fundamental need for money as a currency is to enable a medium of exchange that eliminates the cumbersome indulgence to barter. Else, it would be easy as was in the early stages of social evolution. The intrinsic value of this convenience called money has to have a yardstick and while it was gold under the belt at one time it is a complicated scale based on: the balance of trade; the extent of natural resources within a political territory and the level of material technology available within. Material technology essentially implies military might as that does over-rule any and all logic.
In this world of ‘might is right’ the sharing of resources and all egalitarian values demean the destiny of the human race. We seem consigned to a state of perpetual meanness where societies have to rob, pillage, grab, syphon resources by force from others and justify the act as one of security for the planet! It is like snatching a candy from a kid telling him I will eat your candy because it will ruin your teeth! The level of insanity is substantial and had an individual been inflicted one could look up to a lunatic asylum but what does one do with governments and nation states! So, where is this printed paper called money coming from and where is it going? Simply put, it is coming off printing presses and it is being circulated as a vehicle of convenience to us the users in total disregard of our extent of labor, toil or value of owned material. There is no attempt to enticing hate for the product all that is being said is to cause awareness for our economic leaders who seem to be groping way away from our ideological moorings. The level-playing field is supposed to be the question we need to address. In consonance with our ideology one can simply declare that there should be a common denominator like gold as a global value benchmark to support trade and the restricted convenience we call money of sundry domiciles must remain within their respective political boundaries. If it is not a commodity and is a convenience then let individual currencies remain within political boundaries of nation-states. Similarly, if labor cannot be discriminatory all currencies would, as a measure of labor, have to be equated one for one.
This will consign the hegemony based ‘reserve currency’ concept to the bin and present merit in trade with an actual value based exchange mechanism. Central banks would know how to manage their circulatory ceilings free from foreign dictates. Countries will evaluate their own products and services and buy in their own currencies and sell in the currencies of the importers. The possibility of making a run on currencies would end and bilateralism will flourish with the even development of the planet for all known technologies. Countries will have to come to the table to agree on uniform standards for sustenance and wars could be the indulgence of our uncivilized past. This is not about to become viral as a concept for all to follow particularly the grabbers of value for printed-paper! These present are our ideological reservations and have to be considered by the Islamic Republic of Pakistan and other countries that have Islam as their State religion. Today the economic situation in the world is structured to rob the rich and justify the heist as a deed of worthy bravado. The countries that have natural resources are being milked and countries that have labored to get out of the debt trap are being bullied. The freedom to evolve in material technology is a taboo and what is good for the goose is no good for the gander. It is a biased, racially discriminative world and we seem to have divorced justice and fair play.
To sum up this article the demand on the Ideological Council of Pakistan would be to free themselves from the rulings on marriages and divorces and focus on the lifeline of our existence. We need to give value to our national assets and holdings pegged to gold and we need to peg the rupee to gold as well. We need to sell (export) in the currency of the importers and buy (import) in our own currency in gold equivalent. We have to discard all treaties that restrict our evolution in material technology and say good-bye to debt as a factor for existence. We need to set standards for the minimum sustenance levels for humans and insure that governments legislate and enforce the ruling. In the end analysis let the debt not be a syndrome let it be our game changer!
— The writer is an entrepreneur and author based in Karachi.