Golden Age

"Golden Age" denotes a period of primordial peace, harmony, stability, and prosperity. During this age, peace and harmony prevailed in that people did not have to work to feed others as currency circulated via the simple principle of "sell before one buys". Money and food remain in abundance, as money cannot be scarce as long as it does not circulate as a debt to others.

The Coin is the foundation for the next golden age for humanity, where currency is the liability of no one, and debt is replaced by real world assets. The Coin cannot be attacked or its flow impeded by any known force on the planet today or anytime in the future.

The Coin represents the Golden Age for all humanity.

The Economics
In Marx's theory, the general formula for capital in circulation is M-C-M' (Money-Commodity-More Money), where M' represents the initial money (M) plus surplus value (m). This formula highlights the core characteristic of capital: the pursuit of self-expanding value through the process of buying commodities to sell them for a greater amount of money.

In the capitalist circuit, M-C-M', the goal is the self-expansion of value.

The key difference from simple commodity exchange (C-M-C): In C-M-C, the goal is to obtain a different use-value (consumption). In M-C-M', the goal is to increase the initial value (exchange-value).  Commodities (C) are traded for money (M) in a capitalist economy. Money may hence interrupt the succession of sales (C-M) and purchases (M-C) in the circuit C-M-C. At this point money has value due to its ability to regress  to a commodity (money-capital) or Gold, thus a payment can be deferred across space and time.

Axiom: Money functions as a means of payment when the sale of a commodity and the realization of its price are separated. 

Capitalists not only have to find appropriate demand for their produced commodities, but they have to find it within a certain period of time in order to be able to meet their payment commitments. 

The quantity of money necessary for circulation (Mc) is given by the volume of traded commodities (Yr ), the average price of these commodities (p) and the velocity of circulation of a unit of money (q): Mc = pYr/q.

Axiom: The quantity of money has therefore no direct effect on the price level. 

Hence within the Golden Age, the focus is always on the generation of surplus value via increased GDP of each Local Currency Area. This by definition self deprecates the creation of fictitious capital, that which is not a result of production but rather of speculation or finalisation or Usury).

Axiom:: The only means to store value is via an asset (commodity) used in production, money has no capability to store value. 

Economic value becomes manifest in an objectified way (as a separate "thing") only through the form of value established by the exchange of products. 

We define "value" simply as the ratio of a physical quantity of product to a quantity of economic production, which is equal to a quantity of gold-money (in other words, a scalar):
X quantity of product = Y quantity of economic production = Z quantity of gold-money

"Price" is just another word for "value", i.e., value and price are identical expressions, since the value relationship simply expresses a relationship between a quantity of money and a quantity of some economic good.

Commercial banks can, in principle, create credit without limits which will then circulate as credit-money. Central Banks cause credit-money to break out of the confines of mere commercial circulation into general circulation, and serves there as fiat-money or debt. In order to circulate, the concept of Usury is required to force its circulation from credit money to a currency in a deferred payment.

Axiom: The Golden Age of money self deprecates all forms of credit-money, usury and fictitious capital and replaces these with economic production and guaranteed redeemability into money-capital upon demand.

The Usury component (interest) is replaced via a share of surplus value, namely both the risks and reward  ( proportion of surplus) is shares between the producer and the investor, and hence usury and interest self deprecates. 

Axiom: Money is hence transitory and exist not to store value but as a means to defer a payment across space and time. Real world assets and economic production are the sole, means to store value.

The Core functions of the Golden Age:
-The Coin exists to move monetary value across space and time.
-WCU-C exists to move capital across space and time.
-XAU exists to store value across space and time

Notes
1. Credit-money or bank deposits are owned by the bank at the point of the deposit, this means banks are free to use these deposits for their own use. Bank depositors are a creditor of the bank, along with all other commercial creditors of the bank. The bank agrees to repay the deposits as long as it remains liquid. Banks can become insolvent ( SVB bank ) and hence deposits may never be repaid without Government (taxpayer funded) bailouts. The principle use of deposits by banks is to fund investments and interbank clearing (reserves). Banks do not guarantee the return of any bank deposits. No bank deposit, reserves, or capital is required to support a bank loan. There exists no economic basis for a bank to pay interest on deposits it already owns.

2. Central Bank rates only affect the rates commercial banks borrow overnight to enable clearing of interbank payments. Central Bank rates have no effect on any bank loans or any economic activity within the economy.

3. The central bank lender of last resort is simply a fraudulent public funded mechanism to underwrite commercial bank investment losses due to their holding illiquid assets, why it is often referred to as moral hazard. Central bank functions not just as the cash lender of last resort (LOLR) for some banks some of the time, but also as the cash lender of continual and only resort (LOCOR) for all banks all of the time.