NAWAPA XXII - Real Debt and Credit 

Escape From Fiction to Freedom

Credit to Extinguish Debt

 Rolf Witzsche
researcher, author, producer, and publisher

The general economic perception of debt and credit is backward focused. In this backwards focus financial credit is issued for a specific purpose whereby it becomes accounted as debt, which ideally becomes extinguished by the 'profit' derived from the purpose for which the debt is created. This monetarist perception is backwards focused. On this train the whole world has collapsed itself economically.

The real debt that society owes to itself is never financial. It is physical. If a critical need exists in civilization, the lacking fulfillment of this need is a debt that society owes to itself. This debt is choking society until society's obligation to meet its need is fulfilled. Since this debt is physical, society needs to issue itself financial credit to built the infrastructures that are required to meet the need. Once the building is completed, the debt is extinguished. No debt remains. Society is richer by what it has built, instead of being poorer as it would be seen according to the monetarist perception of debt.

Let's look at the example of satisfying America's water needs. With the increasing drought conditions that are presently resulting from the ongoing ice age transition dynamics. America owes it to itself to meet its critical and increasing water needs for agricultural irrigation. This unfulfilled debt is choking the nation with increasing food scarcity. The debt becomes extinguished when the water supply infrastructure is built. When the nation issues credit to itself to build the needed water supply system, the process of issuing credit for this purpose becomes a process of extinguishing the debt. When the water supply system is built and operating, the real debt obligation is fulfilled and the entire nation lives a richer life with more abundant food resources, and so on.

I am using this example because freshwater production is easily accomplished. The technology for Reverse Osmosis Seawater Desalination has existed for years, though it is poorly used. In commercial systems seawater is forced at high pressure against tight filters that allow water molecules to flow through while blocking the larger salt ions. For the sake of efficiency and to keep the operations small in size, commercial systems apply typically 300 psi pressure and more. It takes a lot of mechanical energy to produce this pressure, which makes desalination 'expensive.' However, this is a poor application of the principle involved. If one places the desalination filters into deep ocean facilities, at the depth of 5000 meters, which exists only 600 miles offshore from California, the 2.2% weight differential between salt water and fresh water would power the entire desalination process by itself. The weight differential would produce upwards to 150 psi operational pressure differential, enough to operate Reverse Osmosis Desalination on a large scale. The process, if it was implemented, would cause rivers of fresh water flowing out of the oceans. The volume of water produced is a function of the size of the infrastructure, and is therefore unlimited. The materials to implement the process do exist in vast amounts, most of which is laying unused on the ground. The technologies likewise exist, and the labour force to built the system exists in abundance. America owes it to itself to meet its water needs in the most efficient manner possible. It owes this obligation as a debt that will keep on choking the nation until this debt is extinguished.

The principle is rather simple. The more society builds, the richer it becomes. Once this principle is understood, society will no longer ask, what will it cost. Instead, the question will be, what can we build as human beings that enriches our existence on this planet. The greater the projects are, the greater will the benefits be. Then we will built the floating bridges across the equatorial sea to link the continents and extend floating agriculture from them that automated industrial production can easily create, produced out of basalt reshaped in high-temperature nuclear powered processes. Then we will, with the same processes, fulfill the housing needs of humanity with almost no cost and effort involved. The current debt that society owes itself to furnish high quality housing for its cultural and intellectual self-development will keep on choking society until this debt is extinguished.

Note: Money has fundamentally nothing to do with meeting this debt obligation. The technology for building hundreds of millions of new high-quality houses has existed since the 1950s when the Liquid Fluoride Thorium Nuclear Reactor was developed, tested, and the put on the shelf. The USA, all by itself, has 900,000 gigawatt-years of fuel for such application sitting unused on the ground. Likewise the USA has enough basalt sitting on the ground to cover its entire land area more than 10 feed deep with it. All the resources exist for society to cover its debt fully in unfulfilled housing needs. It only needs to muster the will to extinguish this debt, which is easily done by simply extending the financial credits to get it done. Credit isn't money in this context, but a commitment to extinguish the debt.

Until this relationship between debt and credit is understood and acknowledged the current danger of war will continue, because without this understanding the thievery system, which the modern monetary system is, will continue and nothing productive will be built. On this monetarist basis of unfulfilled debt obligations society will be unable to meet the huge physical challenge of the ice age transition that is already in progress by which most of its northern agriculture is endangered for which new infrastructures will need to be built in protected areas of the world, primarily in the tropics. To meet this challenge is probably the greatest debt obligation that society owes to itself.  If this debt is not extinguished in the near term, humanity will perish by the chokehold of its unfulfilled needs.

The ice age transition is not optional. It is imperative. It is moved by astrophysical electrodynamics processes over which humanity has no control. Thus it becomes a debt to society to free itself from the imperial chokehold on science that defines all astrophysical phenomena as gravity forced and blocks the recognition of the electrodynamics forces that operate outside the gravity domain and in conjunction with it. Without this debt becoming extinguished, which presently chokes science into dangerous impotence, the human future is gravely in doubt. It is not possible to recognize the ice age transition dynamics without the recognition of the causative processes, which are exclusively electrodynamics in nature. Without the outstanding debt in science that society owes to itself it goes on dreaming that the ice age transition is still thousands of years distance and remains unprepared for it until it is too late to react.

We, as human beings, owe all of these above mentioned debts to ourselves, and will keep dying as slaves under their chokeholds of many different types until these debts become extinguished by the needs becoming fulfilled that these debts represent. For as long as we regard debt and credit as aspects of a financial system, as we presently do under the monetarist system, we are doomed to remain impotent by this failure of perception. In real terms debt and credit are essentially spiritual concepts related to meeting the human need. They are aspects of human creativity, which is a spiritual quality of great power that no one can quantify, which gives the physical creative building its wings.

Rolf Witzsche
researcher, author, producer, and publisher

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