Questioner: Cindy, what's collateral?
Me: It's something pledged to a lender, that you agree to give them, in the event you fail to repay a loan as agreed.
Questioner: "Then why does the Heirship Economy offer the opportunity for putting ourselves up as collateral?"
I thought those were excellent questions. And to be honest, they made me scratch my head a little. But the answers are simple. The Heirship Economy is a transitional economic plan. And in any transition, we always start with where we are. Fortunately, concepts of debt and usury are completely absent from the Heirship Economy so currency backing, or collateral, is purely cosmetic and for transitional purposes only.
Documented example—the insanity of collateral
Humanity is caught in a pattern of thinking in terms of "value" and backing for value. In reality, value is a meaningless concept because all living systems are of equal worth. Every element of life is interconnected and interdependent. So the idea that something’s intrinsic value can change according to market whims is utter nonsense. But collateral is based on that concept.
We, as Americans, were put up as collateral a long time ago. Not only that, but as documented in the Emergency Banking Acts of 1933, the United States defaulted; and along with its people, was dissolved and turned over to its creditors. The entire notion of this would be laughable if it weren't so sad—and if so many weren't harmed by it. Americans unknowingly consent when they pay federal taxes, apply for driver's licenses, register their vehicles, and so on. We make no compunction about it. It feels NORMAL to most people.