| This article is a brief, non-technical presentation of | | | | finance, and IT to hammer out a credible |
| a project referred to as Transfinancial Economics, | | | | programme for controlling inflations levels.3. Some |
| or more simply TFE. It is an evolving concept | | | | Major Anti-Tax Arguments for TFE.Here, we list |
| which is now starting to be seriously accepted by | | | | the arguments for Non-Taxation.i) Everyone has a |
| enlightened academics conerned with cutting-edge | | | | basic human right to all their earnings, and these |
| knowledge.1. The Basic Concept.Transfinancial | | | | should not be compulsorily deducted by any |
| Economics, or TFE, or Non-Taxation Monetary | | | | government.ii) Taxation is no longer necessary in |
| Reform believes that new unearned money can | | | | the 2lst century as we now have the technology |
| be created to replace direct, and indirect taxation. | | | | to control inflations levels. It belongs to the past, |
| Thus, future democratic governments would no | | | | and not the future.iii) It is morally reprehensible for |
| longer have to raise funds but instead have them | | | | people to fund the mistakes, and abuses of any |
| created responsibly via a genuine independent | | | | government in power.iv) Taxation has been the |
| public authority known as a Central Treasury | | | | direct,or indirect cause of many wars, and |
| Bank. Every finance order from a government is | | | | revolutions.v) Though it is right for people to earn |
| carefully checked, and passed. The important | | | | money, and pay for most things in life they |
| point to understand here is that it makes | | | | should also be REWARDED by a policy of |
| overspending less likely as there is no existing | | | | Non-Taxation. The reason being is that they are |
| lump sum of tax money from which to drawn | | | | the creators of REAL WEALTH (ie. products, and |
| upon. It is simply created in a careful measured | | | | services). Without that money as a medium of |
| way. All this ofcourse has immense | | | | exchange would be worthless if such resources |
| social,economic, and political implications.Apart from | | | | did not exist.4. The Question of Redistribution.In |
| central government,(and indeed local government | | | | TFE there is no redistribution of existing wealth. |
| too) non-governmental organisations, or NGOs | | | | Instead, there is the massive creation via |
| would also have new unearned money created | | | | electronic transmission of new unearned money. |
| for them via Grant Generating Banks. Many of | | | | Through the programmes and reforms of |
| them will be partly, or fully funded without the | | | | democratic governments, and NGOs such funds |
| need for fund-raising. This has extraordinary | | | | could finance old, and new ways of poverty |
| humanitarian implications for various | | | | alleviation, and fairer distribution of financial wealth |
| social,economic, and political concerns. Incidently, | | | | as never before in human history. To try,and |
| the Grant Generating Banks would be independent | | | | achieve this via taxation, and other methods is old |
| of governments, and transnational corporations.In | | | | hat, and is clearly not working to the fullest |
| TFE there are two Systems. The Human Financial | | | | degree. The most effective approach is to create |
| System is what has already been discussed | | | | new unearned money where,and whenever there |
| above whilst the Economic Financial System is | | | | is a genuine need. The ultimate aim of all this is |
| where money is earned in the normal | | | | for the beneficiaries to become independent, and |
| fashion.2.Hyperinflation, and Supercomputers.With | | | | self-financing in some manner. Thus, new |
| the electronic transmission of new unearned | | | | unearned money can lead to greater productivity, |
| money as legal digits of value into our world there | | | | and economic growth as never before. The only |
| is the great possibility of hyperinflation. This, if | | | | limits to all this is ofcourse, effective planning, and |
| unchecked can lead to total devaluation of the | | | | natural resources.5. Interest Free Monetary |
| national currency. In other words,the amount of | | | | Reform.Virtually the entire money supply of the |
| money would outstrip the production of goods,and | | | | world is created by private commercial banks as |
| services. Thus, the retail prices would shoot up, | | | | a loan, or credit. Super-normal profit is created by |
| and those notably existing on a fixed income | | | | the interest paid on it by customer. Governments |
| would find that they can buy less than | | | | though create coins, and paper money as |
| before.What is the solution? The answer is the | | | | something which is spent debt-free into society. |
| development of a credible programme for | | | | Banks create the rest of it "out of thin air" |
| supercomputers which could track retail price | | | | through what is technically called fractional reserve |
| levels in banks. In the past, there have been | | | | banking. Thus, the money exists on paper, and |
| attempts to bring about price controls but these | | | | computer as an electronic transmission of digits |
| proved to be unpopular, and had mixed results. | | | | which ofcourse have legal force.Some people |
| However, in the case of TFE super-flexible pricing | | | | believe that it is possible to create money as |
| would be possible, and this would allow for | | | | loans without interest. This would have great |
| competative capitalism as we know it today. This | | | | benefits for society, and the economy. Yet, it is |
| would be "unimaginable" with the controls of the | | | | very limited compared with TFE, or Non-Taxation |
| past.3. Three Basic Electronic Controls Over | | | | Monetary Reform the social,economic, and political |
| Inflation.They are discussed as follows.a) | | | | implications of which would be totally remarkable. |
| Super-Flexible Pricing.An entrepreneur, and his | | | | As such, Interest-Free Monetary Reform should |
| company tries to sell a product, or service to the | | | | be unified with TFE, and this would arguably |
| public. It has to be priced. When this has been | | | | ensure its success.6. Green Transfinancial |
| agreed upon it has to be registered with a legally | | | | Economics.Green, or Sustainable Economics makes |
| accountable centralised, or decentralised | | | | the vital point that there is a finite amount of |
| independent public authority, and/or a bank. The | | | | natural resources on the planet. At present, they |
| business concerned then receives retail price | | | | are being used up at an unprecedented rate by |
| confirmation for the product, and/or service, and | | | | humanitys greed notably in the rich countries. |
| higher price range levels are given until the | | | | Ideally, everyone should radically reduce their |
| ultimate one is reached where it is automatically | | | | consumer wants, and live in small self-organizing |
| fined. This appears on a bank statement. | | | | communities which would respect nature, and the |
| However, the higher price range levels allow for | | | | earth. Such a development though is clearly not |
| Super-Flexible Pricing.By Law, most products, and | | | | going to happen fast enough to "save the planet" |
| services have to be registered. There are those | | | | from total resource scarcity. The only way |
| ones which have no obvious value, and can be | | | | forward is the creation en masse of various |
| exempt from the electronic controls over inflation. | | | | forms of complex, and simple sustainable |
| Anonymous cash transactions would still exist if | | | | technologies at record speed. With TFE this can |
| democratically desired. The reason being is that it | | | | happen with the massive influx of new unearned |
| makes up a near non-existent portion of the | | | | money as business grants/interest free loans, and |
| entire money supply, and hence, would have little, | | | | the financial empowerment of relevant NGOs. A |
| or indeed, no affect on inflation.The introduction of | | | | new, and advanced understanding of money is |
| such electronic controls would be be initially | | | | absolutely crucial if we are serious about a |
| unpopular with businesses. At first, they may try, | | | | sustainable (but high growth) economy as it is the |
| and cheat the supercomputer systems. Yet, they | | | | POWER WHICH CONTROLS THE USE, AND |
| will fail as a graduated system of automatic fines | | | | ABUSE OF LIMITED RESOURCES.7. The Third |
| could be temporarily brought in to make sure that | | | | World, and the Transnational Corporations, or |
| retail prices do not rise too quickly. However, such | | | | TNCs.This in itself is a complex subject. With the |
| controls would be relaxed when businesses learn | | | | financial empowerment of Third World charities, or |
| to adapt to responsible pricing of registered | | | | NGOs many many lives could be dramatically |
| products,and services but allowing at the same | | | | improved, and many deaths avoided altogether. |
| time a high degree of competition.With TFE such | | | | An "indirect" factor in all this are the transnational |
| legislation as explained would be a small | | | | corporations, or TNCs who have ripped off poor |
| inconvenience for companies compared with the | | | | workers, and destroyed much of the natural |
| imposition of Income Tax, and other taxes as | | | | enivironment in the name of profit. Those NGOs |
| these would no longer exist. Thus,their growth, | | | | concerned with corporate responsibility (or the |
| and profits would expand as never before. | | | | lack of it!) would at long last be able to challenge |
| Moreover, loans could be created interest-free. | | | | their power on a fair playing field as never before. |
| Civil, and criminal fines of one sort, or another | | | | With financial empowerment in TFE they would |
| would still exist.b)Excess Accounts.These are | | | | have a variety of business, and non-business |
| specific bank deposit accounts in which saved | | | | tactics to make them more ethical, and |
| money is indexed-linked to the inflation levels of | | | | ecologically more friendly as never before.8. A |
| an economy. When the monetary supply exceeds | | | | Final Comment.What has been presented here on |
| the production of goods, and services it is simply | | | | Transfinancial Economics, or Non-Taxation |
| saved but does not loose its value. This can be a | | | | Monetary Reform is only the tip of the iceberg. In |
| short, or long-term situation. In other words, the | | | | the right hands, it will work wonders. Furthermore, |
| money cannot be spent simply because the | | | | it could prove to be very popular with people in |
| resources are not there!! With greater economic | | | | general as it has all sorts of of social,ecnomic, and |
| growth though more products, and services | | | | political benefits. Interestingly, the basic concept of |
| become available, and thus, more of the saved | | | | Non-Taxation is not totally new but what is |
| money can be spent. In TFE such deposit | | | | presented here is its most advanced |
| accounts are said to be "in excess".c)Inflation | | | | expression.Lastly, Humanity Politics which is |
| Interest.This can be summed up with a simple | | | | associated with TFE is also in the process of |
| example. If person T buys a registered product, | | | | research, and development.Robert Searle is an |
| or service which is 10% above the national | | | | independent thinker, and researcher.Apart from |
| inflation level this same percentage can be | | | | Transfinancial Economics, and Humanity Politics he |
| created as new uneared money by the bank. | | | | is also doing another project entitled |
| Thus, the purchase for the customer has not | | | | Multi-Dimensional Science which is concerned with |
| been devalued. This is referred to as Inflation | | | | an attempt to marry science with religion,and |
| Interest, and is an essential feature of the entire | | | | mysticism.Searle was educated at the Royal Free, |
| economic system.The above constitutes the basic | | | | and had a private education at the Tutorials, |
| controls in TFE, but there are other aspects of | | | | Windsor (UK). He then went onto College. He has |
| this subject not discussed here. Indeed, it will | | | | also published a number of articles concerned with |
| ultimately require the aid of experts in economics, | | | | Indian Mysticism. |