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Energy Based Economy

Energy Based Economy. Transition from Rich Resource Bases to Lower Grade Resource Sources. - Managing Scarcity - . Energy Return on Energy Investment EROI ( eroei ). Resource Richness. Energy and Resources Combined. Adjustment.

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Energy Based Economy

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  1. Energy Based Economy Transition from Rich Resource Bases to Lower Grade Resource Sources. - Managing Scarcity -

  2. Energy Return on Energy InvestmentEROI (eroei)

  3. Resource Richness

  4. Energy and Resources Combined

  5. Adjustment • We have to face a future in which we will be applying harder to get energy against less rich and more scarce resources • This applies in gross terms and even more so in per capita terms for the period in which population continues to grow.

  6. Real Inflation ChartEffort per Output

  7. Currency Viability Chart

  8. Future Currency Viability

  9. Energy Reserve Currency Impacts If the international currency reserve system were based on energy certificates, it would have the following impacts: • - National currencies would not cross borders nor would any bond or certificate based on them. • - speculation would disappear from international finance. • - Effectively, energy based reserve certificates would remove the parasitic overhead from international transactions and would leave them without hidden and long lasting obligations. They would be clear cut and short lived. • - competitive devaluation of currencies would be eliminated • - Dutch disease, wherein one strong sector of a nation’s economy damages other sectors by inflating the value of its currency, would be eliminated • - the disconnect between the consumption and real goods production level of nations fostered by fiat currency valuation illusions would be eliminated. Nations would have to produce as much as they consume. • - the problem of distorted exchange rates causing a competitive mismatch would be eliminated ie a producer with high material inputs and lower labour efficiency underselling another producer in another country because of exchange rate anomalies would no longer be possible.

  10. Trend of Currency Systems • Barter – (pre-history to current) • Commodity based exchange (pre-history to 1800s) • Wheat currency (2000bc – 100bc) • Rare and precious artifacts – gold, cowrie shells (4000bc – 1974) • Coinage - based usually on precious metals (3000bc – current) • Commodity based certificates (6000bc - current) • Printed money (1000ad – current) • Energy Certificate based International Reserve Currency • Energy based national currencies • Direct energy exchange

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