I OWE YOU system

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Another option was created that can also work to solve the money problems of the world or an economy. More concisely, the lack of money, no access to loan, stagnation just to mention a few. Supposing that the government reserve or the banking system is blocked or unable to be set up. Starting from the absolute beginning of a value system is an option to explore.

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The point of absolution

The point of absolution in this case is a thing, a product, a service, or the willingness of a person to do work. Work is the core one of things. Everyone can do work with the exception of disability barriers from health. I want to do work for money or value. Value is the beginning core. It does not have to be represented by a $50 note or $100 note.

Joh does not have a house but is a great fisherman. Let's go and build him a house for some fish over the next 2 years or 8 months for the value of the work that do to build his house. 

After building the house, then we say to Joh that he owes us the value of 20000 fish. Joh will then say I OWE YOU refers too in economics i.o.u or IOU. It does not have to be written. It starts from an understanding. Lets say that along the way, Pecker from next door gave us a cake. We then say to Pecker. Joh owe us 20000 fish. You can go and tell him that we said you can get 10 fish because you gave us a cake. The I.O.U can have unlimited value. It can be worth 100,000,000,000,000,000,000,000,000,000,000+. Enough to represent every work we do, every product we make or stock value that we have.

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Why is this little story important?

It is important because no one can stop us from building our IOU system. We can speak. We can read. We can write. These three things enable us to write our value into a plark or note or inside a cave. Now, how can we turn this IOU, or willingness to work into a structured system that is easy to use. Below are some things I came up with at the time:

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1. We can write the value onto a piece of paper

2. We know that someone out there wants that type of work

You could be a person who can fly a plane. The system will then give you a note that says IOU $10,000 because you have flown my plane. They system is now a working system. People will do work for each other. And the IOU exchange will give that person a value note or IOU note that represents the negotiated price value of the work done. From this point, people will say, what if I write an IOU for 1 million just for flying the plane once. Another person will only value that service at 4000 or 3500 or 800. The answer at this point is, this situation is common out there in the trading world. The exchange can now put a valuation system that can put a ceiling value to a particular work done. The work is submitted, then the IOU exchange will then either accept the value or decline the value. If this value is declined, then the person that has done work for another person will still have the IOU but will not be part of the IOU value system which has IOU notes and or electronic recording facility ie, online account balance, or online work done balance, or online wealth balance. I will choose online wealth since once you have done work. The work that has been done becomes your wealth.

3. IOU system done.

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Strengths

It solves the problem of economic stagnation. A huge problem with the current economics.

Your ability to create wealth is up to you, your capacity to do work and the value of your talents or capabilities

There can be many more strengths and weakness that people or students will come up with over the years to come. For my part, these are the two core important things that is central to us understanding what is most important to an IOU system.

Weaknesses

You will still have to find people that wants to use you as a person to do work. Similar to job seeking. You have a qualification. There are things you can do as work but you need someone that needs or wants your service. This takes us to the next point, self work value. Self work value is when you do work that has value on your own for yourself or for others(simili of charity).

Working for yourself: You build a home. You now own a home. You want some fish or a car but you cannot build a car and you don't know how to catch the fish. This presents a problem because I want the system to be able to have the capability of creating wealth that is not dependent on another person wanting you to do work.

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So so so,

You know how to build a boat. You built your boat. Then you tell the exchange that you want IOU notes for that boat. The exchange will then given you a fair value for your boat whether it is 5000 or 50,000. You now have 50,000. You can use this 50,000 to buy a 2.00 loaf of bread or a 2000.00 second hand car. Economic fairness have been achieved. The economic model is written and implemented this way to solve all of the fundamental economic problems that we have. You can self employ yourself. You can create wealth out of thin air through work. This system is a little different from the government reserve. Nevertheless, more capable in creating wealth than the banking loan gold system.

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Here is another example

I want to work as a singer but most people don't like my singing because my voice has a very nice tone but it is a little heavy. The IOU-work system says, you can sing to yourself at the value of $40 or $100 per hour if that is what you want to do. This provision or part of the formula, the value must be fairly represented in its relative importance to other work paid by the IOU system. What if everyone in the world chooses to sing for 1 hour and make $100 dollars or 3 hours. There could no people to work in the farm and the retail shops because singing is much easier. So, we as the IOU exchange may choose to value singing to yourself at 
$15 dollars because singing to others is worth $25.00 per hour as a busker, versus singing to others at a cruise ship is worth $100 per hour, versus singing at a festival is worth $10,000, versus singing as a start is worth 2 million or 4 million per show.

The system is now complete for the purpose of being a wealth system. For as long as you do work, it has value. That value is paid by the IOU-work exchange. This is how I write the economics. It starts with a problem. A probable solution is investigated and the knowledge base grow from that point and 1 hour or 2 hours after. An impossible problem has a trillion dollar solution or quadrillion dollar solution that solves the impossible problem we started with.

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This is a scholar discovery invented system

S.c Siuta 'Ekoti Uaisele

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A little history

I first wrote this system for the United States, probably Europe as well after knowing that many sanctions and intellectual ownership barriers can block the other economic systems I was working on and have founded to solve the economic poverty of the people, about 20 years ago or 15 years ago from 2037(Siuta 'ekoti Uaisele bubble year is 2025).

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