The last time I talked about money talking was with respect to the velocity of money. Velocity is another way of saying we hold onto our money for some amount of time before we spend it. Someone who is very poor spends money within hours, days, of getting it. Someone who is rich and wealthy may hold onto it for years, decades, before putting it somewhere else. Today the government tracks this “stickiness” indirectly.
This time the talking money is speaking directly to us. Yes, in this high-tech information age of electronic funds and stateless money (go check out bitcoin) the money that you will have in your electronic wallet is going to be able to tell all about itself.
From the moment that it’s “born” into the world of commerce, that piece of money will know who owned it and what it was traded for. Did the owner buy lunch? Tasty. Did the restaurant buy food. Good choice. Did the cheese vendor pay her truck driver? Good move. Did that driver buy drugs illegally? Got you!
Talking money will do more than make our real wallets lighter. It’s going to enable an enlightened government to find and shut down operations that injure society. Not only will it be able to track the drug dealer on the corner, but find his supplier, HIS supplier, and eventually all the people who are part of the operation.
Tax dollars being wasted? Your money will be able to find that as well. If there’s a general getting a lucrative consulting fee for doing almost nothing, your money will know it. Politician spending campaign contributions on a luxury hotel room for two, while his wife is spending money at home for groceries? The money will know.
Notice that I highlighted “enlightened” above. A government that is so inefficient, so corrupt, or so focused on its own success rather than that of society in general, that kind of government can’t be considered enlightened. And that government will do everything possible to keep the money from talking. And if the money talks, the government can make sure no one asks it any embarrassing questions.
Here’s the good news. If technology continues, and if our society doesn’t succumb to some other great disaster (see tomorrow’s post), talking money will be inevitable. And if there is only one enlightened government in this world, then it’s very likely they will show the way for the rest of us.
The sad news is that we could be doing this today, if we really wanted. I want. Do you?
Thanks for reading.