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UCSC Merrill College Cultural CenterCalifornia – USA
29th of November 2012Open Lecture by Dr. Armen Papazian
CEO of ISDHub
Money Mechanics For Space
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Last Words“The fact that an opinion has been widely held is no evidence whatever that it is not utterly absurd...”
Bertrand Russell
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We can't solve problems by using the same kind of thinking we used when we created them.
Albert Einstein
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DEBT CRISES AND A FISCAL CLIFF!!
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THIS NOTE IS LEGAL TENDER FORALL DEBTS, PUBLIC AND PRIVATE
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Balance Sheet of Bank of England Issue Department, 2010Source: Bank of England, Financial Statement 2009-2010
Debt Based Money Creation
Assets (£m) Liabilities (£m)Securities of, or guaranteed by, British Government
5,679 Notes issued 50,220
Other Assets, Including those acquired under reverse repurchase agreements
44,541
Deposit with Banking Department 26,655
Reverse repurchase agreements 17,886
Total Assets 50,220 Total Liabilities 50,220
Banking Department
The State
Issue Department Treasury
CentralBank
Government
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US Federal Reserve Balance Sheet 2010: Selected items Source: Federal Reserve
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Sovereign Debt Levels: A Selection of OECD Countries Source: OECD
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Notes and Coins , GDP, and Money Stock M4 2010, in Billions of ₤Source: Bank of England 08/2011
0 500 1000 1500 2000 25000
500
1000
1500
2000
2500
1392.6
54.3
2152.4
GDP
Notes and Coins
Money Stock M4
3.8%
2.5%
BANKING SYSTEM
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Money
• Digital: 0s & 1s• Banknote: 75% Cotton and 25% Linen • Debt and Credit Based• Expands via banking system• Co-Created by Central Bank and Government
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Source: Bank of England, October 2012, Trends in Lending
Bank Lending, Unemployment and Austerity: Recipe Outcome?
+ Austerity Measures
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Sovereign Debt Crises and Austerity Measures
A System Chasing Its Own Tale
The Milky Way
Andromeda
Our True Context
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Debt Based Monetary Architecture
The features of the debt Instruments with which we back the creation of money, bind the species to calendar time.
Rodent Economics
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Challenges of Financing Space Exploration
• The value pillars of current finance theory and practice are risk and time, leaving space formally unrepresented.
• The cash flow expectations of space related projects and the magnitude of the risks involved are a challenge.
• Space needs a valuation principle that goes beyond time and risk.
• We need a Space Value of Money principle to reflect the expansive nature of the universe into our financial models.
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Space Value of Money
Time Value of Money
Risk and Return
Space Value of Money
Space Value of Money is the aggregate net asset impact of cash flows, taking into account monetary as well as real socioeconomic and technological factors. Space Value of Money is a function of the nature of the assets it creates or utilizes, and the mode of utilization or creation.
Mortal Investor
Space Impact
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Ownership: A Perspective
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Our Financial Imagination and Space
We are the inventors of money, and our financial imagination is as key as our technological imagination when it comes to extending our reach into the cosmos.
We owe ourselves healthy societies and healthy economies,and we owe it debt-free.
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21st Century Economics
WEALTH
Abundance Economics Vs
Scarcity Economics
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The Future is… wherever we choose,
whenever we decide,
whatever we invent… 2.5 Billion USDSpace Value of Money!!
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A New and Parallel Product For Money Creation
PCNs can be used to inject new money through a logic of wealth creating public investments,rather than debt.
Stimulating growth and innovation, PCNs allow the channeling of funds into real industry projects, adding value while creating new activity.
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Public Capitalization Notes
Real Estate Infrastructure Commodities LandEducationHealthcare
Project OwnershipRisk and Profit Sharing
Income CreatingValue Generating
PUBLIC CAPITALIZATION
NOTESTo Finance Projects
With Real Asset Creation
IssuesSponsors
PurchasesGovernment Treasury
Federal Reserve
NASA
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Public Capitalization Notes
Engages
BANKS
Projects Managed with Commercial Rigor, Discipline, and Integrity
PUBLIC CAPITALIZATION
NOTESTo Finance Projects
With Real Asset Creation
IssuesSponsors
PurchasesGovernment Treasury
FederalReserve
PRIVATE ENTERPRISES
PEOPLE&
ASSETS
NASA
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Macro Benefits of PCN
Employment
Tax Revenues
Investment
Consumption
Deposits
Welfare
Budget
Capital Formation
Corporate Revenues
Banking Assets
Real Impact
Monetary Impact
No Additional Debt
No Reliance on Credit
Maximize Space Value
of Money
Inflation?PCNs Transform the LOGIC of Money Creation
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40 Billion A Month in MBS
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MBS vs. PCN
FederalReserve
BANKS
MBSPCN
New DebtNew Deposits
New Reserves New Reserves
Nothing prevents us, as the creators of money, from creating money via a diverse set of financial tools.
New Income Debt Payments
Assets (£m) Liabilities (£m)Securities of, or guaranteed by, British Government
5,679 Notes issued 50,220
Other Assets, Including those acquired under reverse repurchase agreements
44,541
Deposit with Banking Department 26,655
Reverse repurchase agreements 17,886
Total Assets 50,220 Total Liabilities 50,220
010101010101010101010101
SPENDING
If money can be backed by a deposit in the other branch of the same bank,it sure can be backed by Public Capitalization notes that create incomeand stimulate the economy effectively.
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40 Billion USD for NASA and the Space Industry this December!
The Federal Reserve could invent the next monthly 40 billion USD via a PCN that allocates the funding to the space exploration industry through NASA, rather than to the banks via Mortgage Backed Securities.
An ideal stimulus package that creates new projects, income, and revenues, whileAdvancing our technological and scientific reach.
StrategicallyIt is possible to allocate 2 Trillion USD through a PCN program over a 5 Year Periodto unleash a technological big bang and build space infrastructure capabilities.
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A Possible Platform for a Space PCN
A green structure
A business hub
A hot spot for innovation
A museum of the future
A collaborative platform
An outreach and education center
An investment vehicle
On the 6th of June 2012, with the Transit of Venus, ISDHub JV submitted a proposal to NASA Ames to transform HANGAR ONE from a parking space into a space platform.
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ISDHub at HANGAR ONE
• Economic Activity• Industrial Growth
• Technological Innovation• Scientific Breakthroughs• Research & Development
• Silicon Valley Momentum• California Economy• US Economy• World Economy
• World Culture• Humanism
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Space PCN Purpose and Benefits
Public Private Partnerships
International Agency Cooperation
Private Enterprises
Startups
University Networks
Research Programs
Technological Experiments
Innovations and Ideas
Education Programs
Space Anthropology
Space Economics
A Peaceful Humanity
To support, enhance, expand
To finance, plan, implement
THE TWO INTERTWINED THEMES OF
ISDHUB:
SPACE DEVELOPMENT &
PLANETARY SUSTAINABILITY
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Breakthroughs in all aspects of Human Life
Healthcare PCNEducation PCN
Climate Change PCNSolar Energy PCN
Science PCN
A NASA ISDHUB SPACE PCN would be the first experiment in a new form of public funding
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SPONSORED BYLeeward Space Foundation
www.leewardspacefoundation.org
8.8By purchasing this ebook you are
supporting the manifestation of this
vision!
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THANK YOU!
© Armen Papazian, 2012. All Rights Reserved.