TRUE DOLLAR JOURNAL

SOCIETY

• Before society there are only individuals. 
• Society is merely individuals as strangers who form association through property for mutual benefit of trade, self-interest and self-expression. 
• A society of property is the only kind of society that can arise among strangers, each who pursue self-interested goals.
• Property means right of ownership in things of matter, in things expressed from the mind and body, and in action to be done in future. Property does not mean the things owned. 
• Property is a bundle of rights  — right for possession (Jus Possidendi), right for using (Jus Utendi), right for destroying, alienating (Jus Abutendi), right for recovery when found in the wrongful possession of another (Jus Vindicandi).

TRADE

• Trade is about trading property for profit and nothing else.
• Only when property gets created, can trade arise between two persons. 
• The name for property put to making stuff is called capital.
• The name of property created by capital and yet to be sold in a purchase and sale is stock (inventory).
• The name for property put to purchase and sale for cash and credit is wealth.
• The name for property that can be sold to satisfy debts is asset.
• The name for property pledged against a debt is collateral.
• Buying power is the means by which anyone can acquire the wealth wanted after selling away wealth produced in surplus and not wanted, whether that wealth is embodied in a finished product or work through time.
• Profit is the name of sales at prices set by winning bidders less the outlay spent to acquire property for those sales.
• Profit signals potential return to increasing capitalization to gain efficiency and thus higher profit, lest competitors come to the party with better capitalization.
• Profit is the source of earned buying power.
• The Law of Prices governs prices.
• The Axiom of Profit governs producers. 
• The Law of Prices holds the winning bids of purchase and sale in the face of what is on offer sets the price.
• The Axiom of Profit holds the sum of sales on winning bids must at least equal the cost of production otherwise the producer goes to ruin.
• Trading wealth as property in cash and credit in a purchase and sale for wealth as property in things determines the extent of markets. 
• A trade is a purchase and sale for cash or credit, which can be settled by cash.
• No one has money as money is coined metal by weight and fineness and can exist without banking or government.
• Money does not exist anymore and hasn't for decades.
• In the days of money, money extinguished both cash and credit.
• Everyone trades with bank credit in purchases and sales.
• Today, because of the legal tender designation for cash, cash lets anyone settle contracts straightaway.
• Bank credits and cash constitute buying power.
• Bank credit consists of deposits and cash, which are evidences of deposits circulating in perpetuity.
• Cash is printed, circulating bank credits. 
• Cash consists of banknotes issued by a centralized authority.
• Cash stands as a money substitute.
• Cash exists as a money substitute precisely because politicians have decreed legal tender status for cash.
• Cash cannot exist without banking.
• Legal tender cash cannot exist without government.
• Gresham's Law reveals why cash has crowded out money.
• Without doubt, doing the work of money does not make something money. 
• Credit does the work of money and no one would ever say credit is money.
• Anyone who possesses cash has bearer negotiability, also said as currency.
• Bearer negotiability means the right of ownership in a thing gets passed along with honest possession in every sale or every exchange, that is, the property and the possession are inseparable.
• Inflation is a rise of bank credit beyond trade needs.
• Inflation happens first, and then deflation thereafter, always. 
• The damaging effects of inflation become revealed when the growth of credit outstrips the growth of output owing to credit being priced too cheap.
• Inflation leads to the profit squeeze when the sum of sales on extant prices set by winning bidders is below the outlay for production. When many awaken to their lacking the means to pay bills, this leads to crisis and subsequent collapse of trade. This collapse all know as recession or depression.
• Banking crises always happen at peak inflation right in the midst of prosperity.
• Labor is the working man's capital. 
• Work done is the working man's wealth, which she or he trades for wages, most often in the form of bank credits and less so for cash. 
• Wages paid is wealth traded away to hire work.
• Labor makes property. Capital makes property efficiently.
• Labor absent capital is living at bare subsistence. 
• It is to capital that profit can arise owing to efficiency of surplus output. 
• Wages and capital are interlinked.
• True wages move in lockstep with true capital spending per capita of prime age working adults (25-54).
• Only in proportion as labor becomes pricier that it becomes profitable to use cheaper methods (capital) to amplify labor.
• Increasing returns to capital arise when true wages go up. 
• There are no means by which living standards can better that do not involve the increase in wealth per capita of prime age workers.
• The reward for overcoming loss with property at-risk is profit. 
• It is a way for a people to ensure resources are being used properly and products being made that those who are efficient want.
• Price is an objective ratio that expresses a rate of trade of a trade quantity for cash or credit denominated in cash. 
• Value is an objective ratio of exchange in swap, which most know as barter. 
• Price and value arise from the same concept, except one has cash as one economic quantity for another. 
• Both are rates of trade, of exchange.
• By objective, we mean that someone not a party to a trade can observe the swap. 
• There isn't anything subjective about it. 
• Prices get set by double auctions, an English auction and Dutch auction happening at the same time.
• In an English auction, the highest bidder wins.
• In a Dutch auction, the lowest bidder wins.
• In most job markets, inter-employer competition has employers engage in English auctions (highest bidder wins) for workers, while inter-worker competition has workers engage in Dutch auctions (lowest bidder wins) for jobs.
• Where the winning bidders of employers and winning bidders of work seekers intersect, that is the clearing price, which, when it involves work, we call it a wage.
• In credit-as-capital markets, inter-lender competition has lenders engage in Dutch auctions (lowest bidder wins) for borrowers, while inter-borrower competition has borrowers engage in English auctions (highest bidder wins) for jobs.
• Where the winning bidders of lending and winning bidders of borrowing intersect, that is the clearing price, which, when it involves credit, we call it a interest.
• Both rent and interest to the capitalist are shares of profit paid in parts as a hedge against loss. 
• Trade, or commerce, or real economics has correspondence with both practical and theoretical civil jurisprudence as well as accounting.

PROGRESS

• Capitalism means living by using property that yield goods during production to produce a surplus of another product and hoping to sell that surplus for a price such that the sum of sales exceeds the cost to gain those sales.
• Said another way, Capitalism means living by using capital in pursuit of ongoing exchange of buying power.
• Poverty is the default starting status for all humans.
• Bare subsistence means consuming as fast as producing.
• Tribalists the earth over, whether in history or in contemporary times live by bare subsistence precisely because they believe in communal ownership and reject property.
• All progress, which is the moving away from bare subsistence, which is another way of saying poverty, has come from shifting away from the tribe and toward the individual and specifically through property, which is the right of ownership and never the thing owned.
• The entire progress of people from the savage state of tribalism to clans and from clans to feudalism and from feudalism to burghers / bourgeois and thus individualism has been the advent of property (right of ownership) moving from all to the individual. And once property of the individual has been established, the furtherance of progress has arisen solely from the diminution and mitigation of uncertainty in the face of risk.
• Competitive commercialism has raised all of mankind through all time above bare subsistence.
• True progress comes from enlightened self-interest.

PROSPERITY

• People escape poverty and enter into authentic prosperity through efficiency of wanted production. 
• It is through efficiency that leads to surplus and surplus that creates credit that leads to exchange, lifting others to specialize and become efficient, which sows the seed for forever ongoing prosperity.

GOVERNMENT

• Government evolves from society. 
• Government springs forth to enlarge the circle of strangers in society of property.
• Never does society evolve from government. 
• Before government there is society. 
• As a creation of strangers of a society of property, government is supposed to exist only for protection and certification of property so that men can engage in trade, which is the purchase and sale of property, rather than war among each other. 
• Government is supposed to exist to protect any individual at random and his property from a mob, whether foreign or domestic, who seek to dispossess him from his property unjustly either through the of force stealing or through rhetoric.
• Government is supposed to exist to certify claims about property to ensure truth about property. 
• The necessity of government arises because of rogues who feign willing participation in society, a society of property.
• Defensive governance, the kind whereby men come into harmony to protect property and thus echo the goodness of nature, is the only justification for governance of any kind.
• Legit government is about the administration of justice. Justice arises in maintaining right and redressing wrongs.
• Laws are unneeded for justice. 
• Law is secondary and unessential.
• Men of government through law impose duties and rights upon strangers in society of property and well as themselves acting as the government.
• Some of those duties include paying income taxes. 
• Some of those rights include fulfilling greedy desires. 
• Through liability, anyone is free to pursue right of action in civil fraud. 
• Men of government reserve to themselves right of prosecution in criminal fraud.
• Liberties and rights are not the same. 
• Right and power are not the same. 
• These words are not synonyms under law. 
• Liberties are acts of doing what one pleases, acts one can do without being prevented by law. 
• The sphere of legal liberty is that sphere of activity within which law is content to leave oneself alone.
• Liberty is when the law allows to one's will a sphere of unrestrained activity. 
• Liberty is the absence of duty imposed upon oneself. 
• Liberty is what you may do innocently.
• Right is when law limits the liberty of others on one's behalf. 
• Right is what others must do on your behalf, that is, their duty.
• Power is what you can do effectively. 
• Power is when law assists one actively in making one's will effective.
• You use your liberties without protest from the law. 
• You enjoy your rights through law by controlling the acts of others for your behalf. 
• You use your powers with active assistance from the law in making itself the instrument of your will.  
• One with disability lacks power to determine the legal relations of others (authority) or the ability to determine one's own (capacity). 
• When politicians don't establish law giving themselves authority (power) to do X and then do X against anyone, they have violated your civil liberty.
• Customary rights deals with customary law, which is any rule of action to which men voluntarily conform their action. It involves de facto observance. 
• Customary rights of customary law do not have the nature of civil law since the essence of civil law is recognition of a state in the administration of justice.
• The absence of law in the presence of government is liberty, not anarchy. 
• Anarchy means no government at all. It means without (a) an overlord (archy). 

POLITICS

• Politics is the art of using rhetoric to steal property.
• All political doctrines are doctrines of control. 
• The spectrum of political doctrine looks like this, from Left to Right:Communism ↔ Socialism ↔ Syndicalism ↔ Oligopolism ↔ Fascism
• There is no room for individualism on that spectrum.
• The debate of political doctrines is debate about which property should be impaired or stolen, who must suffer the consequences and who gets to do the the stealing and impairing.

POLITICIANS

• Politicians and bureaucrats get their property by confiscating it from others.
• Politicians can only take by implied force from the efficient and dole to the inefficient.
• Never in the history of humans have politicians lifted people from poverty. 
• When the day comes that all others rid themselves of politicians is the day that mankind shall enter into Utopia.

RETROGRESSION

• Greed is wanting property in stuff without having to trade for such fairly. 
• It is greedy for anyone to seek buying power without producing wealth in surplus that others are willing to trade to get in a purchase and sale, under condition of honest dealing.
• The picture perfect definition of greed is striving to get something for nothing from someone else, without giving up something wanted in honest exchange or in honest trade of purchase and sale. 
• Getting welfare, getting subsidy, swindling people by fraud — all accurately express the concept of greed. 
• Welfare takers, subsidy takers, fraudsters, all share one driving trait, a trait that nullifies character within them. They are all greedy to the core.
• Today, government, the creature, has superseded its creators. 
• Illegitimate government usurps power and starts shuffling people's property against their wants for the sole purpose of maintaining power over all.
• Men of government through law grant rights to fulfill greedy desires as a means to secure and enlarge their grip on power.
• Expressions of right in fulfilling greedy desires include welfare taking and subsidy taking. 
• The more who are dependent on welfare and subsidy for their livelihood, the more support they give to those holding power.
• Specific examples of the greedy include recipients of TANF, SNAP, Section 8, Medicaid, Medicare, Social Security, farm subsidies, Pell Grants, all workers of agencies engaged in doling the former as well as all workers in agencies regulating industries, which inhibit new entrants through inhibition of capital formation. Such agencies include the FDA, SEC, FAA, FCC.
• Men of government through law impose liability for those who operate outside the framework of subsidy and welfare to fulfill their greedy demands. 
• In all forms of illegitimate government you see socialistic, bureaucratic welfare, which, immorally retards man's progress as it inhibits individuals who receive such welfare from discovering who they are and what are their talents. 
• All problems arise when some usurp power through government to advance themselves by stealing or impairing the property of others, rendering government no better than rogues.
• Through the power of specific welfare Crony Politics, Crony Governance and Crony Regulatory Capture arise.
• To overcome the Axiom of Profit, politicians give subsidy to politically-connected producers or give welfare in the form of buying power to some consumers.
• Without property, the bundle of rights that include possession, use, destruction, transfer and recovery from wrongful possession, there cannot can not be liberty.
• Activist governance, the kind whereby politicians can dictate what one can do with property, reduces property to mere privilege. 
• At bedrock, activist governance is what is wrong with American life today.

IGNORING THE FOREGOING

IN THE END

• Mankind advances through individuals, property and the drive to hedge against loss and that alone. 
• Mankind falls into retrogression when reverting to neo-tribalism in whatever form, such as self-conceit, pseudo-scientific socialism or totalitarian socialism, which all know as communism.

YOU

• By accepting what others have told you as your beliefs, whether they had innocent or sinister motivation, you have lost all reign over yourself. 
• These beliefs that your imagination has inspired with power over yourself are ghosts who haunt you and control your soul, your self, your being.
• Being indoctrinated has been called the false self by many sages over time.
• When you take public opinions as your own, you let the world live within you. You stop living for yourself.
• You becomes possessed by others.
• Duty is faux virtue. 
• Conduct undertaken for show never could be virtue.
• Taking what another says is your shame if you reject doing what they claim is your duty is to enslave your free will.
• It is to stop living for yourself.
• There are many who claim they know what is your duty better than what you know for yourself to be true.
• You lack duty to fight the wrongful wars started by politicians.
• You lack duty to pay the bills of others.
• You must buck the crowd and do what others are not doing.
• Never should you imitate anyone.
• Imitation forces you to be self-conscious, fretting over whether or not you are imitating right.
• You must come to see the Bizarro Theater all around you.
• When you are dominated, when you let yourself get controlled by outside influences, you have lost the way. 
• You have become a zombie.
• An exorcism rids you of specters, shadowy tempters, ghosts of control, demons which haunt you.
• You can start over.
• You can make yourself anew.
• You can rescue yourself from errors of thought and action.
• You can trade your lesser motives for an all-encompassing motive.
• You must rise up and gain your independence.
• You gain independence by believing from your beliefs rather than trying to believe from thoughts given to you from others, their thoughts trying to masquerade as your beliefs.
• You must reject prevailing opinions, prevailing customs, conventionality. 
• You must reject the pull to adhere to the ethos. 
• You must reject conformity.
• You must become loyal to yourself.
• You must become a crypto-independent.