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P'D'Q'Banking *nterClam


by Mr. Raymond Kenneth Petry

The economies of nations and states hang in a balance of understanding the meaning and worth of money. [RE: "Investment-Debt Structure: a mathematical view of money"] PDQBanking is being approached on every side by the electronic banking industries, but until it is reached there may be no great and true benefit seen outside the mere convenience of pushing buttons in the grocery store. When it is reached, we may estimate the world will change in the twinkling of a eye: the capacity to bargain for the future without loss of the past will return business to its most active state: the reasoning for good. A future that is no mere extrapolation by pedants of the past, is what America looks-for: alone, in lead, or along with Japan, Europe, Asia. The current state of the art in banking and market-netting (inter-net) finances can accommodate and acquire this new world-order at realistic cost and process. It can be accomplished by the people: it needs responsible regulation - so does inter-net - and it is most responsible for the government itself to prepare the way of the people: call it, manifest destiny, and send in the legislative troops....

CONSIDER the loose change in your pocket: it represents the sum-by-denomination of all the coins and bills you've ever put-into and taken-out-from that pocket, since you acquired the pocket. Now, what do you have in your pocket that represents all that you will ever put-in or take-out? Well, pedantically you've got the coins in your pocket; but you might wash and donate your pocket with money left in it: so there is no real indicator of what you must do in the future in that pocket, save by imposition of your belief of equality-by-negating what you do: and that's half of all history!

NOW CONSIDER the vantage of the USA Congress when it designates new money that shall be added to our economy: The Treasury mints and prints the money, and loans it to commercial banks at small interest (right there is some inflation). Then Congress looks at that newly created money as an asset: worth its full value in future returns from the banks, plus interest; so, Congress then borrows on that asset, and we have not just the legal tender passing around, but as well, secured loan-notes passing the other directions: we've got twice the flow rate of documented money. (Of course loans are slower because they are more regulated, and must be secured, which takes time, but they are usually very much larger, which takes less time, and they invoke more interest, which increases inflation more). So we have a system that is very paperwork intense, and the legal tender we see daily is less than half of what is going around.

IT IS ONLY by regulation - and regulations have each their own scope and operation - that money moves and accumulates among banks and businesses: the people may only stall this, by stuffing their money in mattresses, or not otherwise utilizing assets as rapidly as they come upon them. Depositing money in checking accounts improves the flow rate of legal tender. And governments, notoriously political aspirants, attempt to control even that, by, spending, bonding, taxations, and penalties, all for not keeping the money flowing as fast as the system can bear: they believe they can do us better: and that's why we elected them ... (chuckles deregulated).

BUT WE CAN, do better: Congress does not have to inspire inflation, nor refresh it. And we can all handle our economic futures in some reasonable estimate of money: we generally do so, investing in businesses, borrowing capital for buying houses and cars, scheduling auto-teller bank payments for leases, utilities, and appraised taxes; We almost don't use the legal cash tender any more (often paying by check/draft) save for the children's school lunches, and in ticket lines at box-office windows. What cash does today, is, avoid the electricity of remote instantaneous funds transfer.

BY INSTEAD advantaging ourselves of the rapidity and regulatory flexibility of computer-based banking we can diminish inflation and better control our markets. "pdqb" is the target of the future of banking - "Preference/Deference=Quotient Banking" offers individual self-adjustment to the balance of past gains and future expectancies, and release of inflation inherent with intransigent cash. We let our Congress retain greater responsibility for regulation of the whole sum of moneys; and we let people decide their own suffrage and sufferance for this fully accounted discounting: it's all on computer, and it's all accountable this way. No longer is the dollar bill a thing of value by itself, but because it is an element accounted-for (and that's not as easy to counterfeit or steal). We take the whip of inflation off the back side of the people, out of the hands of bureaucrats and people's deputies, and hold it over the bankers themselves, whose service must be worth inflation's every accounted penny, because the government isn't their precedent example any more.

PDQBanking - "Preference/Deference=Quotient Banking" - is the accounting capacity for discounting, distinguishing preference and deference moneys: that which is already received; and that which may be owed, not to any person but to the system (without time and without interest). In proportion as you hold deference-owed, you must receive it, whether from clients or employers: this is its line-of-honesty (a curvilinear function of past, and due). More (deference) you may accept, as inducement to sales, bargaining for the future worth of products and services, but dollar-for-dollar, the sale price of an item is its worth. Check, card, or computer-controlled payment may involve both preference, as cash, and deference, as specified or as a percentage (quotient) of the total cost. Congress, through the Treasury, puts preference money into the system, and receives deference equally, to it, balancing it: the net sum of money in the system is, zero; and the government Treasury is characterized by this surplus of deference. Individuals may also operate at zero-balance, owing nothing, to no-one, yet having ample available funds to conduct their businesses: preference-owned balancing deference-owed. The distributed banking computer net is responsible for maintaining records of all transactions in pdqb. And loan type operations may be regulated in two kinds: the new fast style of preference-for-deference, and those, styled old, of interest on principals (whence comes much inflation). Since the pdqb system is introduced by regional banks, the social impact is minimized among local businesses and cities; no one is required to accept deference exceeding (his) own present proportional use of it; and Congress may set present and reasonable limits on the depth of the pdquotient used in open business transactions, till the system is fully installed across the nation. Preference money is most like common money: positive, cash, preferred, legal tender; Deference money is the computer extension of money: negative or positive, deferred, fully accounted.

SAFECARD is an added feature for securing and sealing point-of-sale transactions: the SAFECARD is your carry-around electronic smart-card provided by your bank for making purchases and conducting personal funds transfers from remote terminals. Each financial transaction requires the vendor's tally and documentation short-summary transferred directly (electronically) to your SAFECARD for approval upon your digitally entered signature-passcode only then keyed-in upon the card itself: the SAFECARD then returns an encrypted version of the transaction to the vendor's terminal, which transfers it to your bank via (his) bank, with (his) approval and additional encryption layers. Your bank records the transaction as a direct electronic funds transfer, and returns acknowledgment to (his) bank, and finally to the vendor. Your digital signature-passcode and encryption schema never leave your SAFECARD; and your account is as safe as your own buying decisions. Don't reveal your passcode!

TOGETHER, pdqbanking and SAFECARD operate as a simple quick controlled-access to your banking accounts: It's like having your tellers' manager on hand to oversee your every daily business transactions. It augments the usual automated electronic teller functions by putting your own keys to your account at hand wherever you go. And it opens the door to better understood financing, balancing assets and liabilities, opening windows of opportunity to comprehend, command, control, communicate, and computerize your own credit capacity. Your kids'll never leave home without it.

"pdqbanking" is the future of banking - it's the future of money

INTERNET FACILITATES implementing pdqbanking's central definition and global distribution. Presently, ca. July 1995, there appears but one aspirant for banking on the Internet, or its graphics empowered World Wide Web: Seeded with a few hundred million pounds (£), they have developed and tested their public key encrypted security workhorse for accessibility on WWWeb, and already have market connections local to England: flowers, chocolates, sheet music, investments, .... exchanges pounds and dollars at 2% fee - not much different than visiting a foreign country as a bank tourist - but Internet itself is global, and American buyers will want local markets accessible in dollars.

BUT THE POSSIBILITY does exist for full true global banking in Internet currency: Local banks as in foreign countries may continue in their local currency, keeping local businesses quiescently participating in their own recognized money. And above the local banks will loom a global surrogate "mergor" bank* attaching all local banks, and operating in "stars" (*) rather than in dollars ($), pounds (£), franks, marks, yen (´), lira, krona, etc. Any personal or business account will transfer money from its local balance into its global page at current rate(s) with no initial charge for participation: but the "star" rate will be a compound-average of all currencies held in the global bank, and as each local currency weighs within the global bank's total assets, the "star" rate adjusts (incrementally) to the weighted average value. And as long as transactions remain within the global bank's asset domain there will be no additional fees for transactions, even though local currency rates will ebb and flow. Moneys taken in excess of *100 weekly from global accounts, to their local or to cash, may incur a 3.5% charge as inducement and hedge against exchange losses (and as a bank profit for the stock holders). But, so long as local currencies maintain relatively strong and cooperative responsibilities, the globally direct accounting advantage on the Internet may satisfy the Europeans' desire for a single, common currency.

FULLY ACCOUNTED DISCOUNTING, pdqbanking, neatly fits this scheme, expanding controls, and offering advanced savings in both local and global assets. Americans will enjoy the advantage of the world market, established in the Internet technology, naturally tariffed by its inclusiveness, and by pdqbanking's exclusiveness, and for its strong American dollar representation.

*nterStar promises to be the one world currency
let's keep this promise, ourselves

* suggested name, *nterStar, *nterClam
- the value of the "star" will be about a dollar or a pound

© 1992-97 Mr. Raymond Kenneth Petry

The teachings herein are not secularized nor classified: Sunday School pupils, Primary Class students, Normal Class graduates, scholars, researchers, astronomers, scientists, and governments, will find this coursework timely, modern, global, historical, and democratic. The syllabus is the ALMS Program: astronomics, linguistics, mathematics, systematics ... scientific inferentiation on Law and Technology: 'what actually happens'.
FUNDAMENTAL CONTROVERSES: Christian Science Class Instruction * RKPetry

The theory of measurement propounded in this work is not to be cited (as) considering contraband or corpses; Nor are the intellectual appurtenances herein to be used for or in the commission of crimes against persons, peoples, properties, or powers (states). May your tabernacle measure true.
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