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ISRAEL - A Biblical Essay

By: Jim Homyak

The term "Israel" appears hundreds of times throughout the Bible, referring to Jacob's new name, the nation of his descendants, and the spiritual people of God. The following are significant verses related to Israel, grouped by theme.

The origin of the name:

  • Genesis 32:28 (NIV): "Then the man said, 'Your name will no longer be Jacob, but Israel, because you have struggled with God and with humans and have overcome.'" 
God's covenant and promises:

  • Genesis 12:2–3 (ESV): God's promise to Abram included making him a great nation, blessing him, and making his name great so that he would be a blessing to all families on earth.

  • Deuteronomy 7:6 (NIV): Israel is described as a people holy to the LORD, chosen out of all nations to be His treasured possession.

  • Deuteronomy 10:12–13 (NIV): The LORD asks Israel to fear and obey Him, to love and serve Him with all their heart and soul, and to follow His commands and decrees for their own good.

  • Jeremiah 31:3 (NLT): The LORD declares His everlasting and unfailing love for Israel.

  • Ezekiel 36:24 (NIV): God promises to gather Israel from all nations and bring them back to their own land. 
Promises fulfilled in Christ:

  • Matthew 2:6 (NIV): This verse quotes the prophecy from Micah 5:2, identifying Bethlehem as the place from which a ruler will come to shepherd God's people Israel.

  • John 1:49 (NIV): Nathanael recognizes Jesus as the Son of God and the King of Israel.

  • Acts 3:26 (NIV): God sent His servant first to Israel to bless them by turning them from their wicked ways. 
The spiritual meaning of "Israel":

  • Romans 9:6 (NIV): This verse explains that not all who are descended from Israel are truly Israel in a spiritual sense.

  • Romans 11:25–26 (NIV): A mystery is revealed: partial hardening has come upon Israel until the full number of Gentiles enter in, and in this way, all Israel will be saved.

  • Galatians 6:16 (NIV): This verse refers to "the Israel of God". 
The restoration of Israel:

  • Isaiah 11:12 (NIV): God will gather the exiles and scattered people of Israel and Judah from the earth's four corners.

  • Amos 9:14 (NIV): God promises to restore the captivity of His people Israel and they will rebuild desolate cities and settle them.

  • Revelation 7:4 (NIV): The number of those sealed is 144,000 from all the tribes of Israel.

Was Israel a man or woman or something else?


"Israel" is not a single person but a name that can refer to different things depending on the context.
 
In the Holy Bible, it first appears as a new name given to a man named Jacob, but it can also refer to his descendants, the Israelite people, or the land and nation they inhabited. 

Israel as a man:

In the Book of Genesis, Israel was the new, spiritual name given to the patriarch Jacob, a male. 

  • The name change occurred after Jacob wrestled with an angel and prevailed, an event that marked a significant transformation in his life.

  • In this context, the name Israel means "He struggles with God" or "God perseveres".

  • Even after receiving the new name, the Bible often continues to refer to him as Jacob, with "Israel" being used to highlight his spiritual nature or his role as the forefather of the nation. 

Israel as a people and a nation:

After the man Jacob died, the name "Israel" was carried on by his 12 sons, who became the patriarchs of the Twelve Tribes of Israel. 

  • The people: The term "Israel" came to refer collectively to the descendants of Jacob and is used throughout the Old Testament to describe God's chosen people.

  • The nation: Later, the name designated the geographical land granted to Jacob's descendants and the kingdom they established. After the kingdom split, "Israel" referred specifically to the northern kingdom, while "Judah" was the southern kingdom. 
Israel in a spiritual sense

In some biblical contexts, particularly in the New Testament, "Israel" takes on a deeper, spiritual meaning. The Apostle Paul explains that "not all who are descended from Israel are truly Israel" (Romans 9:6), distinguishing between the physical descendants and the spiritual "Israel of God"—those who have faith. 
 

Given what is said above concerning a man named Jacob, later named Israel -- and a name which also was applied to his descendants, then what should be made of a 1948 country created under the Balfour Declaration to thus create an entire middle-east nation under the same name, which masquerades as God's chosen people? Why so much mischaracterization and twisting of the facts?

 
The creation of the modern State of Israel in 1948 and its naming after the biblical figure and people of Israel is a complex topic with historical, political, and theological dimensions. Accusations of mischaracterization and twisting facts arise from the differing ways people interpret these connections. 

Different perspectives on the connection

The modern State of Israel is fundamentally a political entity, created through the process of modern nation-state formation, rather than a direct, theological extension of the biblical entity.
 
However, the Zionist movement, which led to the creation of the state, was inspired by and deliberately referenced the biblical history of the Jewish people and their ancestral connection to the land. 
 
Here's how different groups interpret the relationship between biblical Israel and the modern state:
 
  • For many Jews and supporters of Israel: The name "Israel" represents a powerful reclaiming of a historic and spiritual identity after centuries of exile and persecution, culminating in the Holocaust. The state is seen as the fulfillment of a long-held national dream, using a name that connects modern citizens to their deep historical roots.

  • For critics and many Palestinians: The use of the biblical name is viewed as a calculated act to legitimize a political project with religious and historical claims, overshadowing the rights and existence of the indigenous non-Jewish population of the land. This perspective views the modern state's actions through a political lens, arguing that religious language is used to mask political motivations and historical injustices.

  • For some religious observers: There is a theological distinction drawn between the ancient covenantal nation of Israel and the modern secular state. Some Christians and Orthodox Jews believe that the biblical prophecies of restoration relate to a spiritual return or a messianic age, not to a secular, politically founded state. 
The Balfour Declaration and the creation of a Modern State, Israel

The Balfour Declaration of 1917, which supported the establishment of a "national home for the Jewish people" in Palestine, was an important precursor but did not, in itself, create the state. 

The process that led to Israel's establishment included several key events:

  • Zionist activism: The Zionist movement, organized in the late 19th century, lobbied for a Jewish homeland in response to increasing antisemitism in Europe.

  • British Mandate: After World War I, the League of Nations granted Britain a mandate over Palestine, incorporating the Balfour Declaration into its terms.

  • Holocaust and UN partition: The horrors of the Holocaust galvanized international support for a Jewish state. In 1947, the United Nations voted to partition Palestine into separate Arab and Jewish states.

  • 1948 Declaration: The State of Israel was formally declared by Jewish leaders in May 1948, following the end of the British Mandate. 
The heart of the debate

Accusations of mischaracterization stem from the fundamental conflict between these different interpretations of history. One person's fulfillment of a 2,000-year-old dream is another's dispossession. The "twisting of facts" is, in this context, a matter of disputed historical narratives and political motivations:

  • Nationalist claims vs. indigenous rights: Was the creation of Israel the triumphant return of an exiled people, or a colonial project that displaced the local Arab population?

  • Religious narrative vs. political reality: To what extent does the modern state rely on a biblical narrative to sanctify a political and military campaign?

  • Legitimacy: How does the international legal process (the UN vote) and the political motives of external powers (Britain) relate to the Zionist movement's ideological claims and the self-determination of the Jewish people?

Ultimately, what one makes of the modern state's name and origins depends on which historical narrative one accepts and prioritizes. For some, it is a glorious resurrection; for others, it is a historical injustice founded on a politically opportunistic use of a powerful, ancient name.


Given world history and events associated to ISRAEL, that why does such people go on to believe Palestine is not in the Bible as well?

 

The idea that "Palestine" is not in the Bible is a point of contention with complex historical, linguistic, and political roots. While the modern political term "Palestinians" is a recent phenomenon, the ancient Philistines, from whom the name "Palestine" is derived, are mentioned throughout the Hebrew Bible. The debate stems from different interpretations of these biblical references and the evolution of the term "Palestine" over time. 

Biblical references and linguistic origin

  • The Philistines: The Hebrew word Pelesheth (meaning "land of the Philistines") appears multiple times in the Old Testament, and in the King James Version of the Bible, this was sometimes translated as "Palestina" or "Palestine".

  • Geographical distinction: In the ancient context, Pelesheth or Philistia was a specific, limited region on the southern coastal plain of Canaan. It did not refer to the entire land that would later become known as Palestine. The Bible itself uses terms like "Canaan," "Israel," and "Judea" to refer to the broader land. 
The Roman renaming

  • Emperor Hadrian's decree: The major historical development that gave the name "Palestine" its wider use occurred in the 2nd century AD. After crushing the Jewish Bar Kokhba revolt in 135 AD, the Roman Emperor Hadrian renamed the Roman province of Judaea to Syria Palaestina.

  • Motivation for the name change: According to the prevailing scholarly view, this act was a deliberate attempt to erase the Jewish connection to the land. By naming the province after the ancient enemies of Israel, the Romans sought to humiliate the Jewish population.

  • Perpetuation of the name: Following this Roman change, the name "Palestine" was adopted into the general lexicon and continued to be used for centuries, including during the British Mandate in the 20th century. 
The rise of the modern political interpretation

For many religious interpreters, especially those who emphasize a biblically literal or Christian Zionist view, the Roman renaming of the land is a crucial event.

  • "Biblically inaccurate": They see the name "Palestine" as biblically inaccurate for the entire Holy Land and believe that using it denies the land's biblical name of Israel.

  • Theological argument: Some argue that the use of the term today plays into a "propaganda war" against the modern state of Israel, a state whose name is seen as biblically and historically justified.

  • Historical context vs. religious authority: This perspective places the authority of the biblical narrative above the subsequent political history of the region. 
Counterarguments from other perspectives

From a secular or a different religious viewpoint, the claim that Palestine is not biblical is a simplified interpretation of history that ignores significant context.

  • The name's long history: While the term "Palestine" wasn't used in the Bible to describe the entire land, it has been used for nearly 2,000 years, establishing a historical and geographic tradition for the name.

  • Identity and indigeneity: The term "Palestinian" was used to describe Arabs, Jews, and Christians who lived in the region during the British Mandate. The modern Palestinian national identity, which emerged in the 20th century, is rooted in the indigenous Arab population's connection to the land and their opposition to Zionist colonization.

  • Biblical vs. political legitimacy: Critics argue that using a religious text to invalidate the modern Palestinian claim to the land is a distortion of history. A national identity is a political phenomenon, not a purely theological one, and it evolves over time. 
In conclusion, those who believe Palestine is not in the Bible are focusing on a particular theological and linguistic reading of the ancient text, often while deliberately discounting later historical and political developments. Those who recognize Palestine's biblical roots often do so by acknowledging the ancient Philistines, the Roman renaming, and the subsequent centuries of usage that gave rise to the modern political identity.
 

Should the Palestinian State also be one that could potentially have citizens who love God and honor God's word and their relationship with God?

 
Based on reporting by human rights organizations and governmental bodies like the U.S. Department of State, a future Palestinian state could potentially have citizens who love God and honor God's word and their relationship with God.
 
However, the reality of religious freedom in the Palestinian territories is complex and affected by many factors, including the governance of different regions and the actions of various groups. 

Religious diversity in the Palestinian territories

Palestinians are predominantly Sunni Muslims, but there is an indigenous Christian community and smaller religious groups. 

  • Christians: Palestinian Christians, one of the world's oldest Christian communities, live primarily in the West Bank (concentrated in cities like Bethlehem, Ramallah, and Jerusalem), with a much smaller number residing in Gaza.

  • Other minorities: Small communities of Samaritans and Ahmadi Muslims also exist in the West Bank. 
Religious freedom under current Palestinian rule

Religious freedom in the Palestinian territories is shaped by the Palestinian Authority (PA) in the West Bank and Hamas's control in Gaza.

  • Palestinian Authority (West Bank): The PA's Basic Law declares Islam as the official religion but also states that "respect and sanctity of all other divine religions shall be maintained".
    • Mixed record: The PA's record on religious freedom is mixed. While it generally respects the traditional Christian communities, particularly in areas like Bethlehem, there have been documented instances of harassment and discrimination against converts to Christianity.
    • Societal pressures: Conversion from Islam is heavily discouraged and can lead to intense societal pressure, ostracism, or harassment from families and communities.

  • Hamas-controlled Gaza: In the Gaza Strip, Hamas has imposed a stricter interpretation of Islamic law, significantly restricting religious freedom.
    • Increased persecution: Following the Hamas takeover in 2007, the Christian population has faced increased persecution and harassment from extremist elements, contributing to a mass exodus from the territory.
    • Forced conversion allegations: There have been allegations of forced conversions, and while Hamas largely tolerates the small remaining Christian population, it does little to protect them from harassment. 
A future Palestinian state's potential for religious freedom

Whether a future Palestinian state would protect religious freedom and allow for citizens who "love and honor God's word" depends heavily on its political character and legal framework.

  • Two-state solution perspective: In a hypothetical two-state solution, international support for a democratic, secular Palestinian state with enshrined religious freedom protections could help ensure the rights of all citizens, including Christians and other minorities. The Palestinian Basic Law already includes provisions for religious freedom, but they would need to be strongly enforced.

  • Islamic-leaning state: If a future state were to lean more heavily on Islamic Shari'a law, particularly in areas like Gaza, the situation for non-Muslims and converts could remain challenging or worsen due to societal and legal pressures.

  • Christian concerns: The dwindling Christian population under current Palestinian rule, fueled by economic hardship, political instability, and—in some cases—discrimination, raises significant concerns about the future of religious minorities. For a future state to honor its citizens' faith, regardless of their specific religion, it would need to address these issues head-on. 

Does the Bible discuss all of these situations?

The Bible discusses many situations similar to those seen in Gaza, such as war, famine, displacement, and disease. However, it does not describe the specific contemporary events occurring in the modern State of Israel. Biblical texts are interpreted in different ways by theologians, historians, and adherents to various faith traditions. 

War and violence

  • Widespread accounts: The Bible, especially the Old Testament, contains many accounts of warfare, military campaigns, sieges, and battles. These narratives often describe high casualties, the destruction of cities, and the immense suffering caused by conflict.

  • Divine commands for war: In some Old Testament passages, God is depicted as commanding his people to wage war against their enemies, resulting in the destruction of enemy forces and cities.

  • Hyperbole: Some scholars argue that certain biblical descriptions of violence and total annihilation should be understood as hyperbolic ancient Near Eastern literary conventions, not necessarily as literal, historical events.

  • Condemnation of violence: The Bible also condemns violence and calls for peace. In the New Testament, Jesus emphasizes loving one's enemies, praying for those who persecute you, and seeking peace. 
Displacement and exile

  • Repeated narratives: The Bible is full of narratives involving displacement, exile, and forced migration.

  • Abraham and Joseph: Early narratives describe Abraham leaving his home for a new land and Joseph being sold into slavery and taken to Egypt.

  • Exodus: The enslavement of the Israelites in Egypt and their journey out of exile is a central narrative of the Hebrew Bible.

  • Babylonian exile: Later, the people of Israel were exiled to Babylon after the destruction of Jerusalem, a traumatic event for the Jewish people.

  • Jesus and refugees: Jesus's own family was displaced as refugees to Egypt to escape King Herod. 
Famine and disease

  • Famines as judgment: The Bible describes many instances of famine, sometimes interpreted as a divine punishment for the sins of the people.

  • Siege conditions: Famines were also a common consequence of prolonged sieges, such as in Samaria (2 Kings 6:25) and Jerusalem (2 Kings 25:3).

  • Plagues and pestilence: Plagues and pestilence are described throughout the Bible, including the plagues sent upon Egypt in the book of Exodus.

  • Terminal illness: The Bible also addresses sickness and terminal illness as part of the human condition in a fallen world. 
Allegations of genocide

  • Biblical accounts of violence: Some biblical narratives, particularly those involving the complete destruction of certain groups, have been cited as examples of genocidal acts.

  • Scholarly debate: This interpretation is highly debated, with some scholars arguing that applying a modern understanding of genocide to ancient texts is anachronistic, while others point to the hyperbolic nature of the texts.

  • Differing interpretations: Theologically, these passages are viewed in many ways, with some justifying them as divine commands and others grappling with the ethical problems they present. 
In summary, while the Bible addresses the themes of war, displacement, famine, and disease, it does not explicitly discuss the current conflict in Gaza. The connection between biblical passages and modern events is a matter of interpretation, which is often influenced by a reader's theological and political perspective.

In conclusion, a future Palestinian state could potentially have citizens who love and honor God, but achieving genuine religious freedom would require a concerted effort to ensure equal rights and protections for all, overcoming current challenges posed by extremist groups and societal intolerance brought to bear against Palestine by Israel.
 

THIS IS THE TRUE ISRAEL!

https://rumble.com/v704c4y-this-is-the-true-israel.html
 
Israel and Palestine Food For Thought >Here<
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    THE ABUNDANCE PARADIGM: WHY AI FORCES A RETHINKING OF MONEY ITSELF — PART 1

    By Ellen Brown on May 11, 2026

    A Universal Basic Income (UBI) has long been proposed as a way to cushion the blow of jobs lost to automation. Under that model, everyone receives a modest monthly payment – enough to cover basic needs and prevent extreme poverty. 

    But Elon Musk has gone further. On April 16, he posted on X:

    Universal HIGH INCOME via checks issued by the Federal government is the best way to deal with unemployment caused by AI.

    Rather than a subsistence stipend, Universal High Income (UHI) would be a level of income allowing ordinary people to live well in a world where machines do most of the work. Musk has also said that AI and robotics are the only things that can solve the massive U.S. debt crisis. 

    That sounds promising, but where will the government get the money to pay the UHI? Critics say any government that tried it would go bankrupt. There are also other concerns, which will be addressed in Part 2 of this article. Here we will look at the financial underpinnings: why UHI is even thinkable, why AI forces a reexamination of how money enters the economy, why the current system cannot scale to meet what is coming, and the implicit transition needed to meet that challenge.

    Why the Current Money System Cannot Scale

    The national debt of the U.S. government just topped $39 trillion. China’s is $18.7 trillion. Japan’s is $8.6 trillion. Those of the UK, France, Germany, Italy and Spain are each in the multi-trillion-dollar range. Collective global debt now stands at $353 trillion, 305% of the world’s annual economic output. So even if, hypothetically, everything produced in the world in a year were applied toward liquidating the debt, it still would not be enough to pay it all off. 

    In fact the debt can never be repaid, because of the way money currently enters the system. Nearly all of the money supply today is created by banks when they make loans. Banks do not lend their existing capital. The loan itself creates the money. The bank adds the loan amount to the asset side of its balance sheet and balances that sum with the same amount on the liability side. When the borrower withdraws or transfers the funds, either the bank takes them from its reserves in “vault cash” or the Federal Reserve debits the bank’s digital reserve account at the central bank. But the lending bank typically has funds coming into its reserve account at about the same rate as they are going out, so its reserves are continually replenished. Thus a very small reserve account can support a much larger money creation engine. For decades before the Fed discontinued the reserve requirement in 2020, it hovered at around 10%.

    The chief problem with this debt-based system is the interest, which the bank does not create in its original loan. For a typical long-term loan, interest can double the total tab or more. Where is the money to come from to pay this added liability? Across the system as a whole, it must either come from more borrowing or from existing funds. In the case of governments, that means issuing interest-bearing bonds or tapping taxes and other revenues. The interest on the debt compounds, meaning the government is paying interest on interest. This makes the debt increase exponentially, until it is mathematically unsustainable. Then bankruptcies occur, of banks or even whole governments. Booms turn into busts, and the cycle begins again.

    Today, interest on the federal debt is the second largest budget line item after Social Security, exceeding $1 trillion. Meanwhile, workers are losing jobs to AI/robotics, shrinking the income tax base. The system is clearly unsustainable.

    How to Raise Demand to Scale to the Upcoming Supply

    A Universal High Income would replenish the shrinking tax base by replacing the lost wages of unemployed workers. But where will the money come from to pay the UHI? The only sustainable solution is for the government to issue it interest-free. That does not mean through the Federal Reserve, which creates money in the same way banks do: it buys federal interest-bearing securities with accounting entries. The Fed collects the interest, which it is supposed to return to the Treasury after deducting its costs. But since 2008, its costs include paying interest on the reserves of its participating banks, which consumes its profits. (See my earlier article here.) 

    The only interest-free, debt-free solution that will actually increase the money supply sufficiently to match the projected productivity of AI/robotics is for the money to be issued directly by the Treasury.

    This is not a radical new idea. It is authorized in the U.S. Constitution, which provides in Article 1, Sec. 8, that “The Congress shall have Power To … coin Money [and] regulate the Value thereof .…” Abraham Lincoln used government-issued “Greenbacks” to avoid a crippling debt to British-backed bankers. Debt-free government-issued money was also the funding mechanism by which the American colonists succeeded in creating a thriving economy and liberating themselves from the oppressive yoke of the British Empire.

    In his 1729 pamphlet “A Modest Inquiry into the Nature and Necessity of a Paper-Currency,” Benjamin Franklin argued that a lack of currency was a tax on industrious farmers and producers, and that a reliable, locally issued paper currency was the “oil” for the gears of trade. The “Nature and Necessity” of this currency was to facilitate the movement of goods between neighbors. Franklin observed that the British strategy of keeping the colonies short of cash was a method of economic suppression. By forcing the colonies to use gold and silver, which were constantly drained back to London to pay for imports, the Crown kept the colonies in a state of permanent debt and low productivity. When the money supply matched the productive capacity of the people, universal prosperity resulted without inflation. 

    This logic evolved into the “American System of Political Economy” championed by Henry Carey, economic advisor to Abraham Lincoln. He wrote:

    Two systems are before the world… One looks to pauperism, ignorance, depopulation, and barbarism; the other in increasing wealth, comfort, intelligence, combination of action, and civilization. … One is the English system; the other we may be proud to call the American system, for it is the only one ever devised the tendency of which was that of elevating while equalizing the condition of man throughout the world.

    In the context of the 21st century, the “oil” that best lowers the friction of trade is debt-free government-issued money similar to Lincoln’s Greenbacks and colonial scrip. Rather than implementing a radical financial innovation, we would be returning to our roots.

    Inflation or Deflation?

    The chief objection to the colonies’ paper “scrip” was that they tended to over-print, so that “demand” (money) outstripped supply. Too much money chasing too few goods produced price inflation. But in the 21st century, we will soon have the opposite problem: too little money chasing too many goods. Machines don’t need food, clothing, shelter, transportation, medical treatment or other services. So who will buy those goods and services? 

    Money needs to be issued to human consumers, and not just to a few wealthy human consumers serving as debt brokers thriving on interest. To create sufficient demand for the voluminous output of AI/robotics, it needs to go to the whole national population, evenly distributed. Not only can UHI work in that sort of abundant supply without producing price inflation; it is actually essential to prevent deflation.

    In a conversation on X, Musk wrote:

    In a normal economy, issuing more money simply increases the dollar price of the existing output of goods & services, meaning people do NOT get more stuff. If AI/robotics massively increase goods & services output, then you actually MUST issue dollars to people or there will be massive disinflation. 

    As paraphrased on Yahoo Finance (reposted from Benzinga), Musk wrote that handing out more dollars becomes a problem only when the economy’s supply of goods and services fails to surge alongside the money supply. His claim is that AI and robotics could lift production so sharply that the bigger risk would be falling prices, not rising ones.

    But aren’t falling prices a good thing? In this case, no. Prices would be falling due to a lack of demand, meaning producers can’t find customers for their products. They wind up laying off workers and eventually going bankrupt. When spread across the whole economy, the result is a deflationary spiral: prices fall, businesses lose revenue, and the economy contracts, not because production is inadequate but because purchasing power is insufficient. The result is recession or depression. In the Great Depression of the 1930s, food was rotting in the fields while people were starving, because they were out of work and had no money to spend. 

    Job cuts from AI are already happening. According to the same Benzinga article:

    Evidence of near-term strain is showing up in corporate announcements: employers disclosed more than 27,000 job cuts linked to AI in the first quarter of 2026, according to Challenger, Gray & Christmas. The outplacement firm said that figure was up 40% from the same period a year earlier. 

    Robert Reich reports that wages are around two-thirds of the typical corporation’s total cost, and that in the first four months of 2026, big U.S. corporations cut over 128,000 jobs. 

    How Soon Will All This Happen?

    Another Benzinga article, reposted on Yahoo Finance on March 16, detailed Musk’s projected time frame:

    Speaking remotely to the Abundance Summit last week, Musk told XPRIZE founder Peter Diamandis that the global economy is on the verge of an explosion so massive it defies historical precedent.

    “I’d say the economy is 10 times its current size in 10 years,” Musk said, before quickly clarifying that the growth could be even more explosive. “Greater than,” he added, framing the projected shift in economic output as a “fairly comfortable prediction.” …

    Ray Kurzweil, author of The Singularity Is Near, sees AI reaching Artificial General Intelligence (human-level intelligence across virtually all domains) by 2029, and full transformative abundance by 2045.

    Other experts question these time projections, but a radical transformation of traditional manufacturing and trade is likely to happen sometime in the reasonably near future. The question is, will the money system transition soon enough to rescue all the laid-off workers from homelessness and famine?

    The Sovereign Wealth Fund Alternative

    There is another model for distributing the gains of automation, one that can be phased in gradually as the AI workforce expands. It comes from Sam Altman, CEO of OpenAI. In an ironic twist, Altman and Musk, who jointly founded OpenAI in 2015, are now locked in a high-profile legal battle over whether Altman diverted Musk’s $44 million investment to transform what was conceived as a nonprofit “for the benefit of humanity” into a highly lucrative for-profit enterprise.

    That dispute aside, Altman’s alternative model for sharing AI-generated wealth is a national sovereign wealth fund seeded by the profits of AI and robotics. His proposed American Equity Fund would take public stakes in the companies and technologies driving automation, capture a portion of the resulting productivity gains, and distribute them as universal dividends. The Fund would not replace a Universal High Income but would complement it.

    This approach has several advantages. It ties payments directly to real output, scales automatically with productivity, and can be introduced gradually, avoiding the shock of issuing large payments before the supply side has fully expanded. It would resemble the Alaska Permanent Fund, which distributes oil revenues to residents, except that here the resource would be the most powerful general-purpose technology since electricity.

    Conclusion: A New Monetary Logic for a New Productive Era

    For centuries, money has been issued as a claim against the future productivity of human labor, repaid from the income that labor generates. The logic of this debt-based system collapses when machines become the primary producers of goods and services. Then the limiting factor becomes purchasing power — the ability of human beings to access the abundance their own technologies create. That requires a monetary architecture that expands with output rather than debt, and distributes income not through wages alone but through mechanisms tied to the productive capacity of the whole system.

    Universal High Income and a sovereign wealth fund are two ways of doing that. One ensures a stable floor of demand; the other ensures that the public shares in the gains of automation. Both would be grounded in real production. But for the public to have access to those gains, the money supply needs to expand in proportion to the expanding pool of goods and services. This can be done by restoring the innovation our forefathers baked into the Constitution: debt-free money issued by the government itself.

    How to fund a UHI without triggering inflation or driving the government into bankruptcy is the first objection critics raise, but there are others. They argue that people would stop working or stop learning, that society would collapse into idleness or chaos, that life would lose meaning without jobs, that the government would have the power to control how people spend their money.  Will a UHI ring in the promised utopia or lock us into a state-controlled digital prison? Part 2 of this article will address those concerns. 

    _______________

    This article was first posted as an original to ScheerPost.com. Ellen Brown is an attorney, founder of the Public Banking Institute, and author of thirteen books including Web of DebtThe Public Bank Solution, and Banking on the People: Democratizing Money in the Digital Age. Her 400+ blog articles are posted at EllenBrown.com.tom of Form

     

     

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    WAY TO GO MR PUTIN - RUSSIA FINALIZES 'LBGTQ PROPAGANDA' BAN

    Posted By: The_Fox [Send E-Mail]
    Date: Thursday, 1-Dec-2022 05:31:08
    www.rumormill.news/212414

     

    Many a time I often think about moving to Russia, so sick and tired of living here in the West.

    Over there things get done and child molesters etc don't just get away with a slapped wrist, free to again prey on the innocent.

    Those promoting society's moral decay will now have to answer for their actions also.

    Way to go Mr Putin.

    Read more: 'LBGTQ PROPAGANDA' BAN