why aren't you rich yet?

"Wealth is measured in nothing else but the amount of time you can spend as you wish, using resources.

Throughout our entire existence, we use our time to transform nature (theoretically common property) to create goods and services, intended for self-consumption (present/future) and exchange. Therefore, “money” can be nothing more than the equivalent and representation of surplus, savings, capital, of resources that remain after self-consumption, available to all living beings.

Implicitly, the most appropriate currency—as a tool for measurement, storage, and exchange—is precisely 'time.'

Unfortunately, 'fiat' currencies are produced in excess, at no cost, without backing, and are distributed arbitrarily, generating polarization and the constant decrease in the purchasing power of people's savings, forcing the majority of them into perpetual work and constant risk-taking, without the chance for capitalization, which is ethically and otherwise unfair.

Man (with his time) is also an end in itself of economic activity, not just a factor/means of production.

The concept of 'universal basic income,' to the extent that it is implemented within the current monetary system ('fiat,' without backing), is nothing more than an incentive for laziness, for decreased production, for inflation, leading to a decrease in productivity and an increase in prices, all to the disadvantage of hardworking and frugal citizens.

However, in the Minute Bank, the concept is implemented correctly, fairly, objectively. This 'monetary representation of time' and 'liquidization of resources' also represents the foundation of a 'complementary' or 'alternative' monetary system, one of balance, one of monetary order (not disorder). Even on a global level, not just community or national." - Octavian Bădescu

the problems of the current monetary system
what does it mean
“monetization of time”
and what is
“THE CONVERTIBLE MINUTE”?
conditions for a properly architected unconditional universal income (UBI).
how it works properly
VUN (UBI)?
the benefits
of time monetization
“The common measure of all values ​​is Man.
People will have the guarantee of the valorization of their own lives by society, only to the extent that each individual person would, by his very existence, be the exclusive generator of monetary mass, permanently and equally with other people.
Man must always be worth more to others alive than dead.”

Octavian Bădescu
what is "time monetization" and what is "convertible minute"?
The model is based on the possibility of every person interested in participating in this system, to highlight in a personal account the accumulation of monetary representation of the time in which he lives, makes "utility exchange" with other people and consists in the freedom of people to engages in economic exchanges based on the availabilities in the account, the total monetary mass of convertible minutes being determined and distributed exclusively objectively and fairly.
what is "time monetization" and what is "convertible minute"?
what is "time monetization" and what is "convertible minute"?
MM = sum of individual money supplies = ANC = wealth, representing the net wealth of the community
example of
calculation
of THE MONEY SUPPLY
A day old baby will have available in the account
1.440 MIN

A 1-year-old child could have approx.
526.000 MIN

An 80-year-old person could have approx.
42.000.000 MIN
how do you find out how much money you have?
how do you find out how much money you have?
you become a member of the community
You create your account on the website and thus you can find out daily how many "convertible minutes" you have. You can also trade goods and services with other community members.
how do you find out how much money you have?
daily update of the balance available in the account
Based on initial funds, daily automatic accumulations and exchanges with other community members, you always know how many "convertible minutes" you have.
how do you find out how much money you have?
you can trade with other members
Money is a commodity. If two parties agree to make a transaction valued in "convertible minutes", the exchange can take place.
Find out how much real money you have and trade with it!
MONETARY REPRESENTATION OF TIME: an ideal medium of exchange
the benefits of monetizing time
Justice, equity, stability, balance, all perceived as such, easing social tensions
Stimulating the birth rate, actually inhibiting it through economic constraints
Lack of the need for a mandatory system of pensions, allowances or contributions
Maximizing equal opportunities for all individuals participating in the system, regardless of the place, time and families in which they are born
Liquidation of all capital, including natural, existing on earth
Minimizing economic cycles, monetary crises
Solving the problem of debt and its negative effects
The minimization of social conflicts, generated by the perception of equity
Minimizing wars, under the conditions of minimizing the chances of their significant financing
Maximizing efficiency in the allocation of resources, according to the principle of subsidiarity
Eliminating waste, minimizing consumption of natural resources and labor time
Limiting the polarization of legal and natural persons
Real democracy, with financial resources in the possession and at the disposal of individuals
The disappearance of the natural temptation in the present system to eliminate the weakly unproductive members of society
Individual freedom and financial responsibility
Minimizing arbitrary allocations (allowances, subsidies etc.)
Increasing competition based on the criterion of utility, increasing the quality and durability of products, minimizing prices
Moving from a consumption economy to a saving economy
Decoupling the incomes of companies, communities and the state from the need for the unlimited growth of consumption according to desires, not according to needs
Direct link between wealth (the ability to consume in the future without using your time according to the will of others) and saving resources
Maximizing the time used according to your own wishes
Fairly rewarding those who produce something useful and durable, discouraging consumerism
The institutional and administrative-territorial restructuring will happen naturally, centered around the individual allocation of the currency, which expresses the will of the citizens
Preserving the purchasing power of money, the value of labor time and savings
The measure of individual and collective wealth will be proportional to the money supply (MM), with savings capitalized over time
The limitation of monetary expansion, the evolution of the monetary mass proportional to the evolution of the world stock of time and the ratio of the existing capital of the community to the total of its monetary mass
Minimizing the costs of money production
Reassessing the role of central and commercial banks, diminishing their importance
Uselessness of current resource-consuming social assistance systems
The disappearance of problems related to the "minimum wage"
Minimizing the issue of establishing and collecting taxes, making it fair and direct "from the source"
The release of significant resources of time, skills and knowledge, remaining at the disposal of employees in the public system in particular, with the possibility of reallocating them, according to their own will, without the danger of the disappearance of financial resources
The emergence of an "equilibrium" banking system, any "community aggregator" being able to form a bank, but the resources being limited to the time stock of the community and to the conditioning of the uniqueness of the CNP and its available resources
Increasing individual power and responsibility, each person having the opportunity to set both the "price of time" (together with the skills, competencies and physical capital possessed), in a free market, as well as the time, destination and price (interest) of the resources on which it makes them unavailable (postponement of consumption) and risks them, the development of new entrepreneurial projects or the development of the company's infrastructure being limited to and conditioned by them, prices going to evolve, stably, accordingly
Freeing the state, communities, small and medium natural and legal persons from dependence on the banking system and large companies, people becoming the only generators and distributors of currency, gradually and fairly, throughout their lives