Strange Currencies

STRANGE CURRENCIES

By Jake Elliott

Something is apparently happening to money. Not that we will notice overnight changes in the actual cash we carry, however, for the shift is occurring in the rarefied world of abstract economics. As Professor M.B. Drapier of the London School of Economics explains, "While there have always been alterations in the form money takes these are usually so slight as to give the illusion of stability. What it is suggested we are seeing now is quite different."

The earliest money is understood to be electrum coins issued in Lydia in Asia Minor around 4,000 years ago. The practise of substituting a representational artifact for all goods and services spread as the system of bartering became impractical due to increasing complexity and population growth. Precious metals - notably gold, silver and copper - became the accepted standard for hard currency (or 'specie') because of their durability, manageability and their steady use value which maintained an equally steady exchange value. This hard money became standardised sometime in the 7th century. By the Middle Ages 'credit currency' arose to obviate the need to move large quantities of coins involved in major transactions. The system of credit currency developed into paper (or 'fiat') money initially in China before France introduced it to Europe in the 18th century.

Standardisation did not emerge without alternatives to metal and paper being tried out along the way: more diverse types of money have been recorded at various times. Primitive cultures sometimes used a system of coloured pebbles as a rudimentary currency. Similarly, marked stones have been excavated in Egypt. The 18th century radical pamphleteer Noah Mounte describes an area of Bohemia in the Middle Ages using dog’s teeth as a form of currency, although this failed after the infiltration of other animal’s teeth into the supply, in an early example of Gresham’s law which states that bad money drives out good. Possibly the strangest type of money was the ‘dhun’ circulated by a Viking tribe: this was actually made from animal dung baked into bean-sized ingots. The tribe was apparently virtually wiped out by disease. "A possible etymology of the term 'paydirt'," says Professor Drapier, smirking.

What is changing with money now is a result of two recent innovations. Firstly there is the introduction of electronics into the money supply in the form of credit and debit cards, which means that the distinction between real and nominal money is superseded by the new category of 'virtual money'. The second, and more important factor, is the move away from the gold standard. When the dollar, the dominant currency after World War 2, was severed from the gold standard under Richard Nixon’s economic policies in 1971, international currency values became linked by a system of floating exchange rates. This decoupling from a real-world equivalent is the core of the problem.

Economic deconstructionist Galia Devoto suggested recently in her essay Buy By Cash? on postmodern perceptions of money, that “the unhitching of money from even the most symbolic of ontological manifestations may bring us to a point where money itself is ultimately abstracted out of the economic exchange cycle.” Others view this extremist speculation as of little value. Canadian economist Daisy Garside, a former colleague of Devoto’s who is now one of her fiercest critics, responded to this claim with an abrasive article called Love Your Money, in which she accuses Devoto of “scaremongering with scant regard for real facts and figures.” Garside asserts “we will always need money in our hands, whatever form it takes.”

Drapier concedes that the break with the gold standard has led to some curious and unforeseen effects that have only recently come to be addressed by researchers. He likens the upheaval to the inflationary crisis caused by the Romans’ sudden circulation of cheap money, or the similar problems experienced in Europe by over-issuing when paper money first became common. “There is more to discuss than observe,” he says.

Most widely acknowledged is the ‘black hole effect’. This controversial theory, first proposed in America over 10 years ago, operates in an incredibly complex area of purely abstract economics which some, such as Garside, claim is entirely illusory. The ‘effect’ suggests that as a consequence of the floating value, exacerbated by EU attempts to draw members’ currencies together, all money is gradually moving towards parity. Writers such as Devoto have elaborated the theory, postulating that eventually the hyper-liquidity resulting from virtual money, whereby finances can be whisked around the world and pass through numerous currencies in a matter of seconds in an effect called ‘fiscal osmosis’, will have a potentially catastrophic effect. As Devoto warns, “The inherent instability of virtual money, an effect of the white heat of technology and the instantaneous nature of electronic financing, has forged a sort of persistence of vision. The global economy rests on monetary values that are simply not there.” The prediction is that all currencies will become aligned in such a way that monetary value will become subject to rampant entropy and, in effect, buy itself out.

Professor Drapier responds to the idea with a smile. “Even advocates of the theory state that it can only happen imperceptibly slowly. Even if it is accurate it will be many years before we see substantial evidence of such a phenomenon.” Could it be true though? “Personally I don’t go along with it,” Drapier says, shaking his head. “I don't buy it, you might say.”

Trees and Time

It's an obvious thought, I know. So obvious that I ought to look it up and see who's said it first before I make a prize arse of myself. But why can't we catch flies?

And how come you feel a light bulb blow just a half-second before you flick the switch? How come the cat hears the phone ring and jumps up before it actually does? How can I look at my alarm clock, drift off into an hour long dream. then wake up again to find that not just very little time has passed, but no time? That's right, not a minute, not a second, nothing?

And what the hell does all this have to do with trees? Well, time is the common factor, and the philosopher Martin Heidegger got there first, just before he started sending fan-mail to Hitler, but that's another story. And Physicists have got there last, rather recently, with a little help from Albert Einstein.

You see, the head-hurting news is that Time does not actually exist. This can be proven now in the realm of particle physics, but Heidegger reasoned it out using, well: just reason, actually. And he expressed it like this: Time has no being and therefore beings have no time.

Oh shit, did you see that last bit? Just when the time thing was looking bad enough, I've thrown something else into your mental microwave. Let's clarify, let's grab a lifebelt before we drown, I'll cut to the chase:

We can't catch a fly because to it we are moving incredibly slowly. But trees, which are also alive, also appear to be moving incredibily slowly to us. Perhaps a fly concludes about a human therefore, what we conclude about trees, namely that they are not even sentient? Oh God, scary, scary... let me re-read that. Thought so. Totally logical but entirely insane. Would we know if trees have consciousness?

Well, the fact that I can dream for 14 years inside 3 seconds of the real world, and even the cat can see into the future, rather suggests that consciousness is not bound to time therefore is not measurable or existent in any normal sense. Thoughts in the brain are conveyed by electrons and electrons are exactly the particles, along with photons, which physicists have found travelling around in time like there's no tomorrow. Ho, ho, ho.

It gets worse. If slower means smarter, then the trees are a higher consciousness than us, but what could be higher than them? We begin to move towards evolutionary and geological time, and then the planet itself. Gaia as James Lovelock named it (with some help from the ancient Greeks) becomes a candidate for consciousness. Since Gaia created us, it is by definition our God (or Goddess), but even more so if the concept of sentience is considered.

So using only science and logic and philosophy, we have just proven the existence of God, time travel, ghosts, premonitions, and sentient trees. You thought those things did not exist. But it was only time that was blinding you, and it's time that does not exist, remember?

Interestingly, this also means we cannot die. Plenty of "time" to get your ahead around this post then...

Bark odes

Forget about the so-called bible codes, feast your eyes on ring sonnets and bark odes! 

Every schoolchild knows how bees invented television, and ants conceived telepathy, but new advanced research by the Royale Botanical Association has discovered that common trees, like the easily recognisable horse chestnut (which spawned a whole human infantile subculture of conkers), or the fast-growing walnut, have secretly been composing poetry for millennia. In forest and copse, timeless wood-wordsmiths etch lyrical prose with epochal variations, often discussing nature and entropy with a matchstick profundity that mere mortals like us could never hope to equal.  

Diatribes..? Well, yes, certainly – the focus of political and social commentaries by trees is particularly fascinating. Despite the usual pacifism of trees, their virulent polemical rants about several varieties parasitical fungi are very probably more fascistically objectionable than most forms of human racism. And let’s not forget the infamous troubles of colonial ‘oppression’ between American oaks and Canadian maples (as immortalised in rock music by that Rush song), which first led curious researchers on the trail of so-called ‘vegetable panic attacks’ - detected as a subtle, almost psychically attuned, infrared mottling on bark (see picture: ‘new proverbs for old’ - translated from Aramaic), and in false colour imaging of seasonal ring patterns (pictured: ‘this is what the Romans did for us’ - abridged version).

Terror felt by trees has increased dramatically ever since humanity’s industrial revolution forever changed agricultural practices regarding forestry, so trees that once feared campfires, and felling by mankind’s primitive axes, nowadays have to contend with chainsaws and mechanical up-rooters. Dendrochronology studies, finding disturbing patterns of climate change, prompted further investigations into extraordinary upheavals in the social history of trees. Although quite immobile, the lividly roving rage of activist-poet trees is found in their classic agitprop protest anthem, ‘timber is murder’. You don’t want to know what noble pines think about humankind’s ritual barbarism of Christmastime! And yet, preliminary evidence suggests that many trees maintain a somewhat contrary respect for the supposedly civilising influence of the ‘book publishing’ industry upon homo sapiens’ typically callous banditry.

Shunned by naturally endowed trees, the forced-evolutionary leapfrog of their gene-mod vegetable cousins - the unwholesomely motile and wholly dangerous, so-called ‘triffids’; is another twig of contention between species. It’s a deep-rooted sourness (epitomised by the silent seething specificity of a standard ‘walk on by’ rejection) that resulted in triffids’ irreversible expulsion from the big society of trees, after redwood parliamentary debates, and even disbarment from regular autumnal leaf-dropping parties. Unfortunately, some of the recent ‘scientific’ discoveries concerning poetry by trees are entirely spurious, at best. There is no compelling data whatsoever that any modern trees send ‘txt’ messages.  

 Activity is very slow in this gym for trees...