Local TEA Dollars
To presume that our lifetime has no value is to presume the legitimacy of slavery. Issuing citizens dividends directly from local treasuries is the most efficient, stable and democratic way to provide equal rights and equal responsibilities....
LOCAL TEA DOLLARS
by Jonathan P. Chance
19 August 2002
The spreadsheet called "Local TEA Dollars" (updated 8/19/02) demonstrates how local treasuries issue TEA dollars.
It is interactive and scalable, so you can insert appropriate (or inappropriate) values to estimate or record your individual, local, state, national or international time-energy income.
The first section (spreadsheet cells A1-E5) displays the time dividends (citizens dividends) derived from the unit of one TEA dollar per living hour.
A citizen in a healthy society can be expected to live approximately 100 years, or 876,000 hours. This provides a trust fund of $876,000 per citizen. Issued from age 16 to 116, every participating citizen is eligible for a citizens income of $730 per month.
The second section (cells A7-E19) displays the energy dividends potentially derived from the unit of one TEA dollar per renewable kilowatt-hour (kWh).
The total RE dividends include sources such as benign (minimum ecological impact) solar-electric, windpower, solar-thermal, biodiesel, biogas, ethanol, geothermal, hydropower, and ocean power. Fossil fuels, uranium, new mega-hydropower and other entropic energy sources are absolutely prohibited from the TEA system.
The largest potential source of energy is solar-electricity. A net photovoltaic (PV) efficiency (cell B13) of only two percent (2%) in a land area of one hundred (100) square miles with a population of one hundred thousand (100,000) in a region with an average annual solar radiation of 1277.5 kWh per square meter potentially produces 6,617,419,340 kWh / energy dividends / TEA dollars per year.
Windpower, solar-thermal, biodiesel, biogas, ethanol and hydropower are currently the lowest-cost / highest-profit renewable energy (RE) source in most regions. With the accelerated implementation of the TEA system, annual RE growth (cell B19) could be approximately ten percent (10%) per month and 1261% per year.
The third section of the spreadsheet (cells A21-E37) displays monthly, quarterly and annual energy dividends (cell B21). With 10% monthly RE growth, quarterly growth accelerates from 121% to 196% in the first year, resulting in an annual RE growth of 1261%.
The fourth section (A39-E55) displays total annual dividends, including time and energy.
The fifth section (A57-E73) displays monthly, quarterly and annual printed TEA dollars (certificates).
The sixth section (A75-E91) displays monthly, quarterly and annual un-printed TEA dollars (eDollars). This is simply the total audited TEA dollars minus the total printed TEA dollars.
The seventh, eighth, ninth, tenth, eleventh and twelfth sections (A94-E200) display printed TEA dollars in denominations of $100, $50, $20, $10, $5 and $1, respectively. Column B displays the number of certificates, column C displays the value of the certificates, and column D displays the serial numbers of the monthly certificates.
With or without the TEA system, renewable energy harvesting such as windpower is among the most prosperous investments one can make. However, the TEA system accelerates the transition from a non-renewable and inefficient "economy" to a renewable and efficient economy.
Furthermore, the TEA system provides equal rights and equal responsibilities for everyone in accord with The Treasury Network's thirteen-point charter.
To presume that our lifetime has no value is to presume the legitimacy of slavery. Issuing citizens dividends directly from local treasuries is the most efficient, stable and democratic way to provide equal rights and opportunities.
Issuing renewable energy dividends directly from local treasuries is the most efficient, stable and democratic way to provide equal responsibilities, because those who invest their time dividends into renewable energy harvesting accelerate the transition from a scarcity-based and inefficient "economy" to an efficient economy with bountiful renewable energy.
The Time-Energy Accounting (TEA) currency supply expands as citizens' invest in renewable-energy harvesting. For example, a citizen who invests $17 in a windfarm may receive a 438% annual return in TEA dollars, plus energy earnings. Within several decades, the population will stabilize and humans will consume no more energy and purified water than we and our increasingly automated infrastructure produce.
Federal Reserve dollars (FRD) are backed by the negative "value" of unsustainable bank debt. United States silver dollars and TEA dollars, however, are backed by useful commodities for manufacturing durable goods and efficient infrastructure.
An alternative to accelerated implementation of the TEA system is to continue the dysfunctional fractional-reserve and usurious (charging interest on non-renewable commodities, including debt) banking system which imperils peace, prosperity and human civilization.
The choice is ours, and the time is now.
Time + Energy = Wealth. What's Your Share?
address: 72 Peterborough Street, Boston MA 02215 USA
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