Altered States of Monetary Consciousness $8 / month

Altered States of Monetary Consciousness delves into the evolving nature of money and economic systems, critically examining the shift towards cashless societies, the role of technology in our financial lives, and the implications of central bank digital currencies (CBDCs). It explores how these changes impact society, privacy, and economic inclusion, promoting a balanced approach to understanding modern capitalism and the monetary landscape.

Economic Systems Cashless Society Technology and Finance Central Bank Digital Currencies (CBDCs) Capitalism and Corporate Influence Financial Privacy and Surveillance Money and Society Digital vs Physical Currency

The hottest Substack posts of Altered States of Monetary Consciousness

And their main takeaways

Money as Addiction

864 implied HN points • 15 Mar 24
💰 Finance Monetary Systems Economic History Currency
  1. Addiction can distort our sense of agency, making us act out of instinct rather than choice.
  2. Solutionism creates a narrative that presents our dependencies as voluntary choices, leading to a cycle of justification for those dependencies.
  3. Monetary systems, like addiction, can create a state of involuntary dependence presented as a state of voluntary choice, reshaping our societies and individual lives.

The Deposit Myth

481 implied HN points • 08 Mar 24
💼 Business Banking Economics Finance Education
  1. When it comes to 'bank deposits', the traditional verb-noun pairing can be misleading. The term 'deposit' typically implies something being put in, but with banks, it refers to something issued out by the bank like digital casino chips.
  2. Comparing banks to casinos can help understand the concept better. When you 'deposit' cash in a bank, it becomes their asset, and you receive digital chips as a liability. This is opposite to the usual understanding that a deposit is something put in the bank.
  3. The language around 'bank deposits' can create misunderstandings, especially in economics. An update in how we define and understand 'bank deposits' can help clear up these misconceptions and align with the actual operations involved.

Intro to Economic Life 101

680 implied HN points • 19 Feb 24
💼 Business Economics Capitalism Global Markets
  1. Economic life can be confusing, especially for teenagers and in different societal contexts.
  2. There are common misconceptions about 'the economy' that many people unquestioningly accept.
  3. The interconnectedness of different economic scales and systems can lead to confusion and speculation in financial markets.

Intro to Economic Life 1: Creatures on a Planet

410 implied HN points • 22 Feb 24
🚌 Education Economics Philosophy History Environment Political
  1. The economy is not separate from the planet, but rather a part of it, with everything deriving from the ecological systems of Earth. This interconnectedness should be a foundational element of economic analysis.
  2. Products we see as separate entities are actually collections of human labor and resources from the planet, with objects being made up of multiple acts of labor combined with natural elements like sunlight, air, water, and food.
  3. The illusion of separation in the economy can hide exploitative practices and hinder our ability to make informed decisions, leading to disconnection, confusion, and alienation. Understanding these interconnected processes is crucial to developing a holistic view of the economy.
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The Cashless Storm

311 implied HN points • 29 Nov 23
💰 Finance Financial system Digital Payments
  1. The war on cash is driven by capitalism, not conspiracy theories.
  2. The push towards a cashless society is not a natural inevitability, but rather a narrative constructed by powerful entities.
  3. Advocacy for physical currency protection is essential for combatting the digital takeover by big finance and tech.

Zen and the Art of CBDC Analysis (Part 2)

240 implied HN points • 07 Dec 23
💰 Finance Digital Currency Monetary System Central Banking Financial Technology Global Economy
  1. Innovation trends are often blindly followed in mainstream scenes, driven by systemic forces.
  2. The CBDC debate is influenced by the inertia of the global capitalist system and the push towards automation.
  3. CBDC discussions involve various justifications like financial inclusion, cross-border payments, and adapting to the 'spirit of the times.'

The Great Migration

85 implied HN points • 01 Feb 24
🚌 Education Courses Subscribers Money Work Capitalism
  1. A new course called Economic Life 101 will be released soon in 8 installments for premium subscribers.
  2. The course is designed to cover various aspects of money and corporate surveillance capitalism.
  3. Paid subscribers will have access to the beta version of the course.

5D Money (Part 1)

226 implied HN points • 16 Oct 23
💰 Finance Money Economics Philosophy
  1. The world is primarily driven by emotions, politics, and economic situations rather than just intellectual ideas.
  2. Under large-scale capitalism, some assumptions about money are presented as self-evident and unquestioned.
  3. Money is ingrained in our minds from a young age, leading to dissociation and acceptance of certain monetary models.

Tech doesn’t make our lives easier. It makes them faster

160 HN points • 04 Oct 23
🕹 Technology Impact Automation Ethics Innovation Digitalization
  1. Tech is not designed to make our lives easier, but to make them faster and more packed with tasks.
  2. Our use of technology often leads to systemic acceleration, where we do more in the same amount of time, instead of enjoying leisure.
  3. To break free from the cycle of constantly speeding up, we need to value balance, build power structures that protect us, and question the illusion that more technology equals easier lives.

The War on Informality

59 HN points • 19 Dec 23
🎭️ Culture Society Identity Economy Technology History
  1. London's environment is becoming increasingly surveilled and formalized, with corporate and technology influences dominating the city.
  2. The push towards cashless transactions and automation in London is gradually eroding the informal economy and individual freedoms.
  3. The struggle between formal, commercialized spaces and informal, community-driven areas in London reflects broader societal shifts towards conformity and consumerism.

Zero is the Future of Money

5 HN points • 26 Jun 23
💰 Finance Crypto Decentralization Monetary Systems
  1. Mainstream money system is hierarchical and dynamic, with layers of players issuing, transferring, and redeeming money.
  2. Crypto tokens offer a rigid decentralization approach and fixed supply, but struggle to compete with the flexibility and dynamism of fiat money.
  3. A synthesis could involve blending the dynamism of credit money systems with the decentralized approach of crypto to create a more dynamic and liquid decentralization.

Designing the Moneyverse

1 HN point • 23 Nov 23
💼 Business Monetary System Monetary Policy
  1. Money is like the nervous system of the economy, influencing our actions and decisions.
  2. The monetary system can disconnect us from our actions and relationships, reducing them to numerical values.
  3. Designing an alternative monetary system requires considering purpose, paradigm, parameters, and participants.

The Luddite's Guide to Defending Cash (Part 1)

2 HN points • 08 May 23
💰 Finance Digital Payments Resilience Privacy
  1. Cash plays a crucial role in balancing the power dynamics of digital money.
  2. The narrative of a cashless society being a 'progressive upgrade' overlooks essential aspects of financial resilience and inclusion.
  3. Digital payment systems can lead to excessive centralization, loss of autonomy, and potential privacy concerns, highlighting the importance of maintaining a balance between cash and digital options.

Paymentspotting

1 HN point • 31 Aug 23
💰 Finance
  1. Money is not just a singular entity - it comes in different layers, forms, and issuers.
  2. Understanding the different types of payments can help break through common misconceptions like the One Type Of Money Illusion.
  3. Different payments, such as government money creation, loans, and cash transactions, have impacts on the overall money supply and the power dynamics between money issuers.

Zen and the Art of CBDC Analysis (Part 1)

1 HN point • 13 Feb 23
💰 Finance Central Bank Digital Currency Banking Sector Stablecoins
  1. Economies are supported by layers of money from the government, banking sector, and corporations, providing choices to citizens.
  2. The concept of a cashless society has evolved with the emergence of central bank digital currency (CBDC), sparking increasing interest and discussion.
  3. The development of CBDCs highlights a complex interplay between private sector interests, potential threats to financial stability, and the evolving role of central banks in the modern financial landscape.