Money is Water (and The Fluid Nature of our Economic Transactions)
Think of 'LAW' as an acronym for:
Land
Air
Water
Going back in history, the British, with their extensive naval prowess, essentially ruled the seas. They took the language of the sea, brought it into commerce, and crafted what we know as Admiralty Maritime Law, or the 'law of the water.'
Let me explain why this metaphor is so intriguing.
Ever wondered why ships are always referred to as female? It's because a ship is a 'vessel,' and just like a woman, she carries and delivers a 'product' (cargo). When a ship docks, it berths. Similar to this, your mother, the vessel, delivered you (the product) at birth to the 'dock' (doctor). When your mother's water broke, it's as if the ship (your mother) delivered its cargo (you) to the shore through a channel, in this case, the birth canal.The act of recording your birth with a birth certificate mirrors the way a ship registers its delivered cargo upon reaching the dock, traditionally done through a manifest. When the product (you) is delivered by the vessel (your mother), the ship registers the delivery and the product with what’s called a manifest (birth certificate).
Which essentially means, you are a product.
Sidebar: The court’s validate this.It’s why you're treated as a product in court - maritime law sees you as cargo. In legal contexts, people are referred to as "persons". While the term "person" is a noun, like objects (things) and places, it's essential to remember that in reality, you are not a mere object. Instead, you're a living, breathing entity, constantly changing and growing – more like a verb in action, always in a state of "being" or "living". We are human beings, not human persons. The essence here is the parallels drawn between maritime practices and how our legal systems and procedures have evolved.
Remember the British and how they took the language of the law, and the language of the sea to create the law of water? They brought it back into commerce, and then they manipulated the courts and the bankings language into what we call Admiralty maritime law or the law of the water.
But I digress.
At its heart, admiralty law has always been deeply connected to trade and commerce. It was established to manage disputes and issues related to the sea and navigation, including the transport of goods. Thus, its roots are inherently linked to economic transactions - to money - and all of this happens over water. Now, how does this link to the "money is water" analogy?
Flow of trade and money: Just like water, trade flows. The sea has been a major medium of trade and transportation since ancient times, allowing goods, and thereby money, to flow between nations. Thus, maritime law is responsible for governing this flow, much like a riverbank guides the course of a river.
Fluidity and adaptability: Money, like water, adapts to its container. It changes form - cash, checks, electronic transfers - much like water changes states. Admiralty law also needed to be fluid and adaptable to accommodate the various issues that arose from maritime commerce, whether it was a dispute over goods, piracy, or salvage rights.
Currents and currency: The term "currency" comes from the Latin 'currens', meaning 'running' or 'to flow'. Just like a sea current, currency moves around the world, and maritime trade has been a crucial part of this movement.
Liquidation: In financial terms, to 'liquidate' something means to convert it into cash. This term borrows from the fluid nature of water to describe the process of turning assets into a more liquid (cash) form. In maritime law, the process of liquidation can occur when a maritime company goes bankrupt, and its assets are sold off (liquidated) to pay creditors.
The "money is water” analogy depicts the fluid nature of money, the manner in which it flows, and the legal framework that guides and governs this flow, especially in the context of maritime activities. It's a philosophical perspective that weaves language, law, and economics together to deepen our understanding of these interconnected systems.
Both money and water are resources that are vital to life and society. They move in cycles, they can be stored and channeled, and they can bring life or destruction depending on how they are managed.The way that water systems are managed has profound impacts on the landscape and the life it supports, and the same is true for monetary systems and the economies they underpin.Understanding the interconnectedness of money and water can also open up new possibilities for thinking about money in terms of sustainability, as well as potential for considering new financial models.
Just as there are cycles and systems for conserving, purifying, and distributing water, so too could there be financial systems that recycle money in sustainable ways, reducing waste and inequity. Overall, the interconnectedness of money and water, and their impact on society, is an intriguing concept to consider and has potential implications for how we understand and manage our economies.
This metaphorical framework encourages us to explore different perspectives on commerce and legal systems, and could possibly inspire new ways of thinking about how money flows within society.
Bitcoin, anyone?