VALUE BANKS SYSTEM AND TECHNIQUE USING COMPLEMENTARY CURRENCY VALUE

专利摘要:
A new physical currency and any electronic evidence thereof is exchangeable for tangible goods or intangible services and has a value that is stabilized by an underlying equity portfolio or other asset that has an intrinsic value, the short-term market value of which is directly or indirectly controlled by a central value bank.
公开号:BE1021460B1
申请号:E2012/0408
申请日:2012-06-18
公开日:2015-11-26
发明作者:Bart Vancoppenolle；Philip Vandormael
申请人:Holybrain Bvba；
IPC主号:

专利说明:

VALUE BANKS SYSTEM AND TECHNIQUE USING COMPLEMENTARY CURRENCY VALUE
FIELD OF THE INVENTION
This invention relates to banking systems, and in particular, to a free-market banking system and a currency for exchanging goods and services in which the monetary value is directly linked to the underlying assets.
BACKGROUND OF THE INVENTION
The processing of physical goods or intangible services in an economy requires the exchange of these goods against each other or against intermediate physical (material) or intangible means of exchange, while at the same time ensuring that the value of the object being exchanged is essentially the same or comparable value. has. If a good is traded against an intermediate means of exchange, ie money, then not only must the first price reflect the value of the first good, and the other price (s) the value of the other good (goods) exchanged, but also - and this is the biggest problem - the value of the money itself may not be volatile in the short term or falling in the long term, so as to allow the effective exchange of goods. If the value of the money is too volatile or if a loss of value occurs in the long term, the goods and services are processed less efficiently or not processed at all. Periods in which the goods are processed less efficiently or not at all result in economic bubbles, crashes, recessions or depressions, and, in extreme circumstances, major depressions and hyperinflation periods, commonly referred to as economic crises,
Summary of the preceding problem.
The current state of the art is flatgeid with fractional reserve. The objective value of this currency is determined by law, giving preference to fiat money. Only a fraction of the intrinsic objective value of fiat money is determined by gold, the rest is supported by government and private debts and other assets, which usually have no objective, intrinsic value, making the subjective market value of the current fiat money void and can fluctuate non-consistently within different branches of the economy. This is the main cause of monetary instability, such as inflation and deflation or disinflation, causing economic crises. The past and present solutions for such situations lie with having central banks that provide liquidity, as a lender in the last resort, to banks that are no longer trusted, or suffer from a bank run. However, restoring confidence in the value of money is not necessarily achieved by providing liquidity to ailing banks.
Growth promotion is also used in the economy as a way to gain confidence in the value of fiat money, but this stimulation is not always possible or effective. As such, the problems of the current state of the art of fiat money are: 1. Monetary instability, 2. Economic crises, and 3. Inability to stabilize the value of money and to place unconditional confidence in the value of money.
Summary of the invention
Described is a new physical currency (and any electronic proof thereof), as well as its use in the exchange of goods and a method for stabilizing its value by selecting the underlying stock portfolio (generally an asset or asset with intrinsic value) and with a central value bank that settles the short-term market value directly or indirectly.
In particular, a new and improved process for exchanging physical, tangible goods and intangible services is proposed, based on a new form of money and a new banking system, with complementary central banking and banking associated with saving and lending the new currency . The new currency is a supplement, meaning that it would not replace the existing fiat money, but that it could be used in addition to it, to stabilize the flat currency and its host currency, and to prevent monetary instability in its host flat money. As such, the complementary new currency solves the problem of monetary instability of both the complementary new currency but also in the host-fiat currency, avoiding economic crises and restoring subjective confidence in the value of money, and therefore also in the monetary system. The new complementary currency can be executed in any of the physical, material and / or intangible electronic currency forms, as described herein.
Figure 1 illustrates conceptually the relationship between physical goods and / or intangible services, the new complementary currency described herein and the equity portfolio that underpins such new complementary currency. In the Illustrative embodiment, the new complementary currency can be issued in the form of a certificate for value shares. A central value bank issues the complementary currency as publicly listed depository receipts for shares of its own equity investment fund. These depositary receipts for shares of the complementary central value bank can be forwarded or exchanged as paper or coins (possibly with an electronic chip) and are then used as a currency, free of charge, without payment means for an obligation of acceptance thereof.
The equity investment fund of the complementary central value bank comprises, in one embodiment, a equity portfolio guaranteeing the long-term value because of a safety margin between objective, intrinsic share value and subjective market value. The equity portfolio that underpins the value of the complementary new currency is a value equity portfolio, which means that it is included or selected and re-selected by selecting stocks that have relatively the best safety margin between the objective, intrinsic value and the subjective market value. The select algorithms and their computer execution are described herein.
In addition, foreign currency allocation in the equity portfolio is chosen for the purpose of hedging the exchange rate risk and the risk of Importing monetary instability of foreign currency, as well as of the host fiat-vaiuta, and by choosing the currency allocation so that it reflects the currency distribution of the trade, expressed in other currencies, as traded by the community using the new complementary value currency.
The short-term risk of loss of value is hedged by the central value bank that settles directly or indirectly through its partner market makers between the market price of the new value currency (being the listed depository receipts for shares) and the net asset value of the equity value currency. The net asset value of the value currency is modeled based on the market price of the underlying share (s) in its equity portfolio or based on the net asset value of this equity portfolio. Arbitration between the new market value valuables and the net asset value based on the market value of the underlying shares makes the realization of arbitrage profit possible, which is shared between partner banks (where their balance sheets are restored) and the social non-profit organizations (as a free tax) for their social purposes). In any case, the arbitrage hedges the short-term risk of the currency and stabilizes the value of the currency by sending it to its net asset value. The information about the market value, the net asset value based on the market value and / or the net asset value of the underlying equity portfolio can be continuously communicated via electronic means, such as a smart chip embedded in physical, tangible money, so that trust is optimally built up by the continuous transparency.
Collaborative loans and savings are obtained directly from the complementary central value bank. To guarantee a 100% fraction and to guarantee value that underpins money, savings are accepted by the bank partners, but converted into value currency and put directly on the balance sheet of the central value bank, from which loans are also initiated.
The design rules, specifications for loans, savings and balance sheet structure of the central value bank, but also the arbitrage and stabilization methods and stock selection methods, can all be executed with a number of software algorithms that are executed in combination with a decision engine and a multitude of advance defined rules that define models for the new currency and the central value banking system as described herein.
The method and the system described above processes physical and material goods more efficiently and effectively. The idea of using a volatile asset class, such as a stock of shares, to support the Net Asset Value of a new complementary currency is not self-evident and new. While the systems and methods described herein can be implemented on a computer, the techniques also require skill and expert understanding of neuropsychology, history, and economics. The integration of software, electronics, mechanics, economics, neuropsychology and history makes it possible to solve this technical problem of the inefficient (and sometimes even ineffective) processing of physical material goods in a practical way.
In accordance with the foregoing, a system and technique are disclosed for establishing a Complementary Value Currency and a free-market banking system. In accordance with the description, complementary value banking employs a set of objective rules and processes, implementable as executable software embedded in a computer system, that define the Complementary Value Banking. The Complementary Value Banking System includes a Central Value Bank, Bank Partners - also called Value Banks - and a Community that uses the Value Certificates as Currency.
The central value bank is a listed value fund, a fund that holds and trades a stock of shares, thereby optimizing its portfolio for a maximum safety margin between the net asset value and the market value. The public stock of the central value bank functions as money to be used by the Community as a complementary value currency. Value banks are commercial banks that, in cooperation with the central value bank, trade in value currencies, bonds and loans granted directly from the balance sheet of the central value bank.
The exchange rate of the value currency is the market price of the central value bank. A stabilization procedure is described that stabilizes the market value of the Complementary Value Currency through settlement of the net asset value and market value through partner-value banks. The stabilization procedure also stabilizes the legal tender and ensures a stable restructuring of distressed commercial banks.
The fraction of the selected value reserve varies across Currency regions to cover the risk of monetary confusion created by other currencies while protecting the competitiveness of Community members.
The Complementary Value Banking System is implemented by using computer systems and program products and methods where the value of money is objectified, secured and stabilized by the intrinsic value of the underlying assets of the certificates used as money by the complementary value banking system .
According to an aspect of the invention, a production item for use as a currency comprises: A) a proof of value of a value quantity as a currency quantity hero; B) an underlying asset with an intrinsic value associated with the currency amount; and C) a mechanism for substantiating the value of the currency with the underlying asset. In embodiments, the substantiation mechanism includes any of: a smart chip associated with the currency, a traceable computer address embedded in the currency representation certificate, or a warning mechanism to indicate as the intrinsic value of the asset associated with the currency amount exceeds a predetermined limit value range.
According to another aspect of the invention, a method for handling exchange of goods / services comprises: A) providing a quantity of goods or services with which a value is associated, B) providing a vafuta quantity with which an assigned value is associated , the currency further comprising a mechanism for substantiating the currency value with an asset base with an intrinsic value associated with the currency amount, and C) exchanging the amount of goods or services for the substantiated currency amount. In one embodiment, the method further: D) verifying whether the traded value of the currency is substantially similar to the Net Asset Value associated with the asset base of the currency. In another embodiment, the method comprises: D1) confirming that a portfolio of at least one asset associated with the proof of representation of the currency has an intrinsic value that is at least substantially equal to the assigned value of the currency amount.
According to yet another invention, a method to prevent fluctuations in the value of currency comprises: A) providing a representation of a currency amount having a numerical or nominal value; B) supporting the value of the currency quantity with a portfolio of equity instruments, the currency quantity being a certificate of the net asset value of the portfolio of equity instruments; and C) using a mode of the net asset value of the currency amount or a model of the net asset value of the portfolio of equity instruments to hedge the risks of decreasing value of currency amount.
According to yet another aspect of the invention, a method for creating a stock portfolio feature comprises: A) calculating for each stock instrument from data stored in a network-accessible memory, the data representing a plurality of stock instruments, each stock instrument is linked to an entity that issues the equity instrument of: i) an objective fundamental criterion, and ii) a subjective market criterion; B) eliminating the equity instrument associated with any entity that has an associated value for the objective fundamental criterion and the subjective market criterion that is outside of a predefined range of values; C) for each of the plurality of equity instruments, scaling a ratio of the calculated value of the objective fundamental criterion to the calculated value of the subjective market criterion using at least one assessment criterion to minimize the risk; and D) retaining within the equity portfolio only those equity instruments that result in positive consideration values in C) above.
According to yet another aspect of the invention, a free market banking system comprises: A) at least one network-accessible central bank system comprising: i) a network interface; ii) at least one processor; lii) a memory for storing an executable mode! of a stock portfolio and a plurality of predefined rules relating to selection between or trade in stock instruments and the issue of currency, the currency; and B) a plurality of participating banking systems coupled via a network to the central banking system, each of the participating banking systems comprising a user interface for enabling automatic and semi-automatic Interaction with the central banking system via a network.
Description of the drawings
Figure 1 theoretically illustrates the relationship between physical goods and / or intangible services, the new complementary currency described herein and the share portfolio that supports such new complementary currency;
Figure 2 shows conceptually a network environment in which the value bank system can be implemented;
Figure 3 illustrates theoretically a system architecture, respectively where the system described herein can be implemented;
Figure 4A-B illustrates conceptual data structures that are useful in implementing the new complementary currency and the free market banking system In accordance with the invention;
Figure 5 is a conceptual graph illustrating the transitional behavior of the subjective market price, which converges over time to net asset value;
Figure 6 is a conceptual graph illustrating the money price stabilization procedure, making use of its intrinsic value to settle the market price of money and aligning the offerings with demand;
Figure 7 is a conceptual diagram for illustrating the transactional flow between money and value of the balance of the central value bank of the value bank system in accordance with the invention;
Figure 8 shows a flow chart of a safety margin algorithm where the selection of Value inventory by the central value Bank in the value banking system described herein can be applied, and Figures 9 illustrates a chart of an efficient stock market where the market-priced profit equals the objective Profit such as described herein.
Detailed description
Definitions and concepts
The following terms and expressions as used herein have the definitions described below, in addition to other relevant interpretation thereof.
Financial Crisis - A crisis caused by the financial system or the banking system, such as a recession or depression. The Great Depression of the 1930s, as well as the current financial crisis, are constitutive or inductive examples that shape the concept of a financial crisis. Monetary Confusion - The confusion between the variation of the value of a good and the variation of the value of money used to express the value of the good, as its price.
Free Market Banking System - a free market Banking System is a banking system in which interest on savings and loans are freely determined by the market without government intervention and where money can compete freely to become the (most popular or most common) currency.
Money and Currency - Money is a means of storing and exchanging value, making exchange possible within a community in the absence of the actual goods involved in the exchange. Money that is used actively and smoothly in a community becomes a Currency. Money is used individually by people to hold value over time and is used together by a community, as a Currency, to exchange Value.
Value Certificate - Value Certificates consist of electronic, paper, metal or other evidence of the right to value, usually the right to participate in the partial or full liquidation of the assets held on the active side of a balance sheet, with the liabilities of that balance sheet consist of those value Certificates.
Certificate Money - Certificate Money consists of value certificates that are used individually as money to store value over time and are used together by a community, such as Currency, to exchange value.
Value Banking System - A Value Banking System is a banking system in which the money consists of securities backed by the value reserve.
The value inventory - The value inventory is the equity stock in an enterprise (an entrepreneurship activity with the aim of creating value) that has the maximum safety margin between the objective net asset value and the subjective market price.
Metal Money - Metal Money is made of metal. The metal can actively deliver the real value to the monetary value or can simply be proof of it, such as Money Certificate.
Physical gold money - Non-certificate Metal Money, where the metal is gold.
Gold Certificate money - Certificate Money, where gold is the asset on the active side of the balance sheet, of which the Value Certificates represent the passive side.
Complementary Currency - A Complementary Currency consists of Certificate Money that is freely used by a community or part of a community, as a currency that runs parallel to the existing Legal Tender.
Legal Means of Payment or Flat Money - legal means of payment is the dominant currency of a jurisdiction imposed by law. The law determines the face value of Fiat Money, with the historical consequence that it is the currency of the community dominated by that jurisdiction.
Nominal value - The Nominal Value of the Certificate Geid is the objective value determined by the name (In words) and the quantity (in numbers) shown on Certificate Money. The name and number can also be united in a figure, as the face of the publisher (or someone else chosen by the publisher).
Complementary Value Currency - a complementary value Currency is a complementary currency that consists of Value Money.
Value Money or Currency - Value Money or a value Currency consists of Certificate Money that is proof of participation in assets with an intrinsic value that have been obtained by applying a safety margin.
Intrinsic Value - intrinsic value of an object Is the objective value of that object that is logically derived as a necessary characteristic of that language Object, as a result of the definition of that object and a formally and logically correct deductive reasoning.
Safety Margin - A safety margin is the safety margin that exists between the higher Objective Net Asset Value of a good and the lower Subjective Market Price for which that good is acquired.
Object - An object is a mental projection that results in networked neural impulses that is logically and / or numerically consistent interpretable by a subject other than the subject who expressed it in language and / or numbers. Most mental projections are not entirely objective. People tend to believe that there is a residual non-consistency between mental projections in different subjects. The object is therefore a reduction in mental projection, called notion, concept or idea.
Left Brain Consciousness - the left brain consciousness is the consciousness that springs from the entire brain, led by the left prefrontal cortex. Because language (in the vast majority of the human brain) comes from the same left prefrontal cortex, the left hemisphere Consciousness is also defined as Language consciousness or objective consciousness. In language consciousness, the law of non-contradiction is tautologically valid, creating a one-dimensional awareness between a positive affirmation of a language statement and denying it, expressed in the logical formulation of the law of non-contradiction as (+ p) + ( -p) = 0,
Subject - A subject is a mental projection that is not (yet) completely logical and / or numerically reducible in objects, without permanent non-consistency or Bivalence. A rough or total Subject contains both conscious and sub-or pre-conscious information about phenomena and therefore also all known objective dimensions. A pure or remaining Subject only contains the remaining non-consistency that is not yet logical and / or numerically Translated into objects. Humans, but also animals, are classical constitutive or inductive examples that shape the concept of a subject, also referred to as a mind or psyche. The word Subject not only means a person or other living entity, it also means the subject of a sense, but also the subject of a theme of writing or conversation, as in the subject or theme of a scientific discipline, which means the total area of knowledge of certain phenomena.
Right Brain Awareness - The Right Brain Awareness is the consciousness that springs from the entire brain, led by the right prefrontal cortex. The Right Brain Consciousness integrates empathic phenomena in images and subjects, to induce concepts, to invent ideas or to intuitively visualize meaning as a concept. While the left hemisphere consciousness analytically reduces and differentiates phenomena from all parts of the brain into objects, The Right Hemisphere consciousness intuitively integrates phenomena across the brain into subjects, meaning and meaning.
Value - a subjective image in The Right Brain Consciousness that intuitively shows how much appreciation a subject or person would feel for an action taken (such as a good or favor delivered) by another subject or person.
Knowledge - Knowledge is the name of subjective and / or objective representations of conscious and sub-or pre-conscious information about phenomena.
Science - Science is the collective human effort to analyze or reduce the abstract subject from certain phenomena to differentiated Objects. Individually this mainly comes from the left brain consciousness, but science is the result of a combined, but not necessarily simultaneous, activity of the left and right brain consciousness. Science is made when subjects in the right hemisphere consciousness are reduced to objects in the left hemisphere consciousness, allowing the left hemisphere consciousness to detect contradiction with existing (formal) mementos of the phenomena and new (empirical) phenomena for false knowledge and to further reduce the subject in objects.
Bivalence - Bivalence is the objective name I gave to the Subjective concept, understanding or idea of the phenomena that are both subject and object at the same time, because the right brain consciousness and the left brain consciousness exist simultaneously when people are aware of phenomena . Being is basically Bivalent because human consciousness is bivalent because the brain is bilateral. The equivalence of matter and energy in physics is only one, albeit a very convincing example of my subject-object and Unks-Right Consciousness Bivalence concept or hypothesis. Transcendence - Transcendence is the objective name given to the Subjective concept, understanding or idea of phenomena that cannot be traced back to objects alone, unless the phenomenon is a purely tautological mental projection or a pure object. A pure suject is irreducible to nothing (unless it is a pure object, but then it is not a subject), that is how it remains its Transcendent for language (and numbers). Remaining measurement inaccuracy is an example of transcendence.
Cult of Symbolic Religion - A cult or symbolic religion is a collective human endeavor to intuitively synthesize phenomena in a (and possibly the) total subject. Individual it stems from the activity of the right hemisphere Consciousness.
Culture - Human culture is the combination of Cuit and Science in their pure and mixed forms.
Free Will - Free Will is the objective name given to the Subjective understanding of Transcendence in understanding human behavior. Free Will is defined as the remaining non-consistency, which remains after neurological, psychological, sociological and other objective reductions of the scientific subject of free human behavior.
Free Human Acting - Free Human Acting is the personal result of human free will.
Free Human Action (and free Animal Action) is the pure Subjective source of real change. It is not (yet) deterministly traceable to objective causes of the change, such as heat, mechanical strength, postnatal depression or a lack of dopamine.
Free human action is defined as free human behavior outside the family and between families. One Personal family is eligible as a family.
Economics - Economics is the scientific discipline that seeks to reduce Bivalence in Free Human Action. The subject of economy is free human action, as a result of Free Will. Unlike psychology, economics does not object Free Will, but only acts fairly humanly.
Psychology - Psychology is the scientific discipline that focuses on the further reduction of Bivalence in the human subject or psyche itself. The Subject of Psychology is the psyche. The aim is to further objectify and thus reduce the psyche in objects, such as motivation, emotion, sub-conscious and pre-conscious projections and representations, to finally name the remaining subject as free will. That is why free will, in psychology and in economics, remains the remaining Inconsistent, non-reducible and therefore Transcendent subject.
Motivation - Motivation is the subjective source of immediate action.
Emotion Emotion is the subjective source of future actions.
Anxiety - Anxiety is the objective name for the generalized subjective emotion with a negative valence. Fear is the subjective force against objective change.
Risk - A risk is an Objectified Anxiety, based on objective reality and expressed in tough and / or numbers.
Desire - Desire is the objective name for the generalized subjective emotion with a positive valence. Desire is the subjective force for creating change and exposing it to change. Also this word subject, in 'subjects', is the same word Subject or Subject as in the described concept and the definition of Subject and it has the reverse meaning of the word Appeal in 'appeal'.
Good - The adjective Good is used in a certain sense, not as a subjective assessment of value, but as an objective adjective that indicates which specific character of the noun contributes to an evolutionary fitness of the human species to survive. Complementary Value Money - has an objective structure that has the same structure that has contributed to humanity's ability to survive: objectively dealing with fear. Therefore, it will probably also contribute to the further suitability of humanity for survival. That is why it is called Value Money, instead of good money.
System Implementation
As noted earlier, Figure 1 Conceptually illustrates the relationship between physical goods / Intangible Services 3 (hereafter goods), the new complementary currency 5 described herein, and a stock portfolio 15 that underpins such new complementary currency. In particular, goods 3 can include all tangible items or services that have value and can be exchanged or processed for a form of the new complementary currency 5 whose value is maintained by the stable equity portfolio 15 in accordance with the new value banking system described herein. New complementary currency 5 can take the form of physical notes and coins 5A, a physical device 5B, or a physical or electronic certificate 5C. The currency 5 in the form of physical device 5B is embodied as a currency proof which in one embodiment comprises a smart card provided with one or both of a magnetic strip 2 or smart chip 4 enclosed therein for communication with each of the systems 10 in the new value banking system. Certificate 5C can be stored in the form of a physical certificate such as traditional share certificate or electronic certificate in a memory of the computer and a data structure connected to it as described in Figure 4A herein. Equity portfolio 15, as described elsewhere, can consist of a number of separate equity instruments 9A-N. As explained elsewhere in this document, equity portfolio 15 and the constituent signet instruments are selected based on a model and one or more associated rules that are used to jointly implement the new value central bank regulation in an automated manner. The equity portfolio 15 is the underlying asset base for the amount of the value of the currency as issued.
Figure 2 shows a network environment in which a free market banking system according to the invention can be implemented. As illustrated in Figure, banking systems 10A-B, users 16A-B representing savers, the user 17 proposing a debtor, as well as the exchange 19 are all interconnected via a computer network topology 29, usually a combination of LAN and WAN networks , ie the Internet, to facilitate electronic financial transactions. Note that at least one of bank 10A or bank 10B is part of the free market banking system described herein, which is in accordance with the statutes of the free market banking protocol. Such a protocol can be executed with a series of computer algorithms and threshold values that are stored by the bank in the form of a set of rules that can be handled by a control engine where appropriate and used in combination with the banks for various day-to-day procedures and decision-making processes when it carries out transactions. Figure 2 further illustrates that each of the bank systems 10A-B can include one or more additional computer systems 27 databases and servers 37 and / or dashboard 23. Figure 3 shows conceptually a computer architecture 10 that can be implemented with any of the systems in Figure 2 to perform the methods described. As illustrated in Figure 3, computer architecture 10 includes a central processing unit 12 (CPU), a system memory 30, one or both of a random access memory 32 (RAM) and a read memory 34 (ROM) and a system bus 11 that stores the system memory 30 connects to the CPU 12. An input / output system with the basic routines with which information between the elements in the computer architecture 10, such as during start-up, can be stored in the ROM 34. The computer architecture 10 can be a mass storage device 20 furthermore also for storing an operating system 22, data and various program modules, such as the decision engine 24, rules 21 and portfolio models 13.
The mass storage device 20 can be connected to the CPU 12 via a mass memory controller (not shown) connected to the bus 11. The mass storage device 20 and the associated computer-readable media can provide non-volatile storage for the computer architecture 10. Although the description of the computer-readable media herein refers to a mass storage device, such as a hard disk or CD-ROM drive, should be appreciated by those skilled in the art that the computer-readable media can be any available digital storage media that can be accessed by computer architecture 10.
By way of example and not limitation, the computer may include readable medium volatile and non-volatile, removable and non-removable media used in a method or technology for the non-transient storage of Information such as computer readable instructions, data structures, program modules or other data. For example, the computer readable media includes, but is not limited to, RAM, ROM, EPROM, EEPROM, flash memory or other solid state memory technology, CD-ROM, digital versatile discs (DVD), HD-DVD, Blu-ray or other optical storage, magnetic cassettes, magnetic tape, magnetic disk memory technology, other magnetic storage devices or other medium that can be used to store the desired information and that is accessible to the computer architecture 10.
According to various embodiments, the computer architecture of 10 may operate in a networked environment using logical connections to external physical or virtual entities via a network such as the network 29. The computer architecture 10 may connect to the network 29 via a network interface 14 connected to the bus 11. It will be clear that the network interface 14 can also be used for connection to other types of networks and external computer systems. In one embodiment, network interface 14 includes the necessary transmitter / receiver hardware (not shown) for wireless communication with other network devices or processes. The computer architecture 10 can also be an input / output controller for receiving and processing input from a number of other equipment, such as a keyboard, mouse or electronic pen (not shown). Similarly, an input / output controller can provide output with a display 16, a printer, or other type of output device. A special graphic processor 25 can also be connected to the bus 10.
As stated briefly above, a number of program modules comprising sequences of executable Instructions and data files can be stored in the storage medium 20 and RAM 32 of the computer architecture 10, including an operating system 22 suitable for controlling a network desktop, laptop, server computer, or another computing environment, The mass storage device 20, ROM 34, and RAM 32 can also store one or more program modules. In particular, storage device 20 optionally in combination with RAM 32 can store executable instructions that program modules that include decision engine 24 for execution. by the CPU 12. The decision engine 24 may include software components for carrying out parts of the processes discussed in detail with respect to Figure 8 and the other arithmetic communication properties described 10. According to embodiments, the decision engine 24 may be stored in the network 29 and opened by a computer in the network 29. Patent database 37 and the associated server method can also be directly linked to the bus 11 of system 10 or remotely via network 29.
The software modules can include software instructions that, when loaded into the CPU and executed, convert a general-purpose computing system into a special-purpose computing system tailored to all, or part of, the volatility index generation techniques. described herein. As described in this description, program modules provide various means or techniques that the device or computer architecture can share in the overall system or control environment, using the components, logic flows, and / or data structures described herein.
The CPU 12 can be composed of any number of transistors or other switching elements, which can assume any number of states individually or collectively. More specifically, the CPU 12 can function as a state machine or finite state machine. Such a machine can be converted into a second machine, or specific machine by loading executable instructions within the program modules. These computer-executable instructions can change the CPU 12 by indicating how the CPU 12 transitions between states, thereby transforming the transistors or other switching elements of the CPU 12 from a first machine to a second machine, the second machine being specifically configured for managing the generation of portfolios and / or decisions. The states of each machine can also be converted by receiving the input from one or more user input devices connected to the input / output controller, the network interface unit 14, other peripherals, other interfaces, or one or more users or other actors. Either machine can also transform states, or different physical characteristics of different output devices such as printers, speakers, video displays, or otherwise.
Coding of executable computer program code modules can also transform the physical structure of the storage medium. The specific transformation of physical structure can depend on various factors, in different implementations of this description. Such factors include, but are not limited to: the technology for the storage medium, or the storage medium are characterized as primary or secondary storage and the like. For example, if the storage medium is configured as semiconductor-based memory, the program modules may form the physical state of the system memory when the software is encoded therein. For example, the software can transform the state of transistors, capacitors, or discrete switching elements that are system memory. As another example, the storage medium can be made with a magnetic or optical technique. In such implementations, the program modules can transform the physical state of magnetic or optical media when the software is encoded therein. These transformations can, among other things, change the magnetic properties of certain locations within a certain magnetic media. These conversions can also change the physical properties or properties of certain places within certain optical media, altering the optical properties of these locations. It will be appreciated that various other changes of physical medium are possible without departing from the scope and spirit of the present disclosure.
Figure 4A conceptually shows a data structure 33 that can be stored by the Central value Bank 10B in association with a certain value share certificate that represents the new value currency in accordance with the invention. In particular, data structure 33 can be executed as an object, record, file or other storage medium maintainable in an accessible memory and can include one or more fields or parameters that help identify the specific implementation of the new currency. These fields or parameters can be used to determine one or more of the following self-explanatory parameters:
Bank Identifier Certificate Identifier Number of shares Type of shares Identifier
Portfolio Model Identifier Currency Descriptor / Format Date of the certificate issue Date last Net asset value Verification Network address (optional)
Certificate holder More identifiable
A number of data structures 33, each in association with a certificate of shares of new currency, are stored in the database 37 or other memory of a new value Bank system 10 according to the invention.
Similarly, Figure 4B conceptually shows a data structure 35 that can be stored by the central value Bank 10B in combination with a loan or order note according to the invention. In particular, data structure 35 can be implemented as an object, record, file or other storage medium maintainable in the computer memory and can include one or more fields or parameters that help identify the specific implementation of the new currency. These fields or parameters can be used to determine one or more of the following self-explanatory parameters:
Bank More identifiable
Loan More identifiable
Number of shares
Type of shares More identifiable
Portfolio Model More identifiable
Currency Descriptor / Format
Date of the loan origin
Interest
Debit balance
Network Address Optional
Borrower Name
Borrower Address
Additional loan data
Link to related files
A plurality of data structures 33, each in association with a certificate of shares in new currency, become in the database 37 or in another memory of a new value Bank System 10 according to the invention.
Economics theory based on evolutionary neuropsychology and cultural history
Subjective and objective value
Value, whether moral or economic, is a subjective Right Brain projection that remains transcendent on objective reduction of language and numbers. While fundamentally subjective, value can also be objective when it is expressed in language and / or numbers.
Value is, like any other Right Brain projection, relative. Something is judged by a subject worth more than anything else. However, intrinsic value is value that is not assessed by a subject and therefore entirely objective. Intrinsic value is a property of the object itself. Few objects have an intrinsic value. Intrinsic value exists only if the value is a logical property of the language object itself.
Intrinsic value can be expressed in language only when the value is tautologically inherent in the definition of the object, or when it can be logically consistently deduced from this definition. As in: "the intrinsic value of a value-creating entity (an enterprise, or entrepreneurial activity) is the value that it creates" or: "the intrinsic value of a Value certificate is the value of the assets it represents" or, as In: "the value of a dollar bill is a dollar."
When a non-intrinsic value cannot be measured exactly, without measuring uncertainty. This applies not only to the economic value, but to the value of a non-tautological object in every dimension.
Market value and price
The market value is the current subjective value attributed to an object, when it is traded on a market, by the persons participating in this market.
The market price is the objective expression of this subjective market value. It is expressed in a currency and thus that the market value of that currency also contributes to the market price, if the market value of the good does.
The market value is subjective, but can take Objective sharing, when a certain factor or rationale influencing the price can be determined deterministically.
The Net Asset Value of Shares or Certificate Currency constitutes the objective part of their subjective market value, the remainder being the purely subjective part. It is determined by fear and desire interaction with the free will of the participating members of the market. Given the fluctuations of desire and anxiety, the pure subjective part of the market value fluctuates the most. The fluctuation of the subjective market value of the currency, in which the market value of the good is expressed, is also an equally important contribution to any price volatility.
The market value, as something else, therefore consists of an objective part and a purely subjective part. The purpose of science is to invest, as of any other science, to reduce the subjective part in objective parts.
The market mechanism tests Objective knowledge of the value in market prices
An important insight of Popper on the scientific method is that objective knowledge grows on a certain scientific topic and becomes more accurate when more empirical tests prove the current objective knowledge to be false and when the current hypotheses are replaced by new assumptions that are objectively formulated and against falsification in new experiments, which means that they are confirmed by empirical experiments. Similarly, it is an important understanding of the market mechanism that objective knowledge of the subjective value of a good grows and becomes more accurate as more market tests prove the current objective to be false and when the current price is replaced by newer prices which are more resistant to counterfeiting in the new market tests, which means that the price is confirmed in the market. This growth in knowledge of the value of a good, converges to the intrinsic value objective of that good, when 1) such as Intrinsic Value exists and 2) the variation of this intrinsic value over the life of the changing behavior is considerably smaller than the achieve such transitional behavior, as in figure 5. The range and duration of the changing behavior Is a function of purely subjective factors and can therefore not be fully traced to objective knowledge. Meaning, for example, that the duration of the "long term" in Keynes' infamous "In the long term we are all dead" is unknown. In summary, this means that the market value converges to the intrinsic value in the long term, if this intrinsic value exists and does not vary substantially over the same long term.
Money
Money is the object that is culturally developed to cover the fear of losing value over time, whether the money is turned up or exchanged. The more objective Money is, the better it protects against loss of value, the more successful it supports a community. That is why Good Money Objectively hedges the risk of losing subjective value over time. When members of a community trust Subjective Money to be good, this money becomes a community currency.
Variability and stability of the Market Value of Money
The Market value of each good, as well as Money, is variable based on supply and demand in the market, is itself determined by the relative Subjective valuation of goods and Money, depending on the Fear of not owning the good (for example food), the Desire for the good (for example an iPad) and the expected future Value of the good (eg fish) and Money (see Monetary inflation).
The Value of Physical Gold Money was relatively stable thanks to people who initially had no fear of a lack of gold, but sufficient cravings for gold (it makes great art), make the subjective factors that determine the value of gold fairly stable objective. That is why Physical Gold Money delivered fairly stable Value as a currency, without gold having intrinsic value. However, Physical Gold Money would vary a subjective value based on the supply and demand of Money and goods in the market. Saving or resuming currencies stabilized these subjective value fluctuations and Physical Gold Money became the best money of the prior art, until now. Non-Physical Gold Certificate Money was repeatedly raised for fraud. The stable value of gold did not cover the risk of the gold not actually present to support the certificate. As King Charles I of England and the subsequent goldsmiths proved.
The continuously changing Value of the Money Certificate is stabilized by the stability of the market value of the assets that the Money Certificate represents. At least as Subjective Trust In their ability to exchange the currency for the underlying asset. Transparent controllability of a balance sheet is a condition for Subjective trust in that balance sheet, also the balance sheet of a Value Certificate, such as the Money Certificate. The actual presence of the underlying assets of the Value Certificate, used as money, would be reliably verifiable, in order to enable subjective trust between Community members that their Money system is not fraudulent.
Monetary inflation and hyperinfiation
When the Market Value of Money fluctuates and cannot be stabilized by the more stable Market Value of the underlying assets of the Certificate, the Value of Money becomes unstable.
E.g. when more Money is put into circulation without the Value being exchanged in this rising currency, the Subjective Market Value of the money decreases. The Value of Money can be stabilized by reducing the amount of Money by exchanging it for the stable valued assets underlying the Currency, for example by melting gold (or other precious metal) coins for different uses, or again save in a different Currency. When the value of money is not stabilized by exchanging the underlying assets, reducing the amount of money, the value of money continues to decrease and monetary inflation occurs.
When the relatively subjective value of the underlying assets falls, as is the case when large amounts of gold are mined or discovered, monetary inflation also comes, as Friedman has shown in history. If the fall in value of the currency happens suddenly, monetary inflation is called monetary hyperinfiation.
Monetary Confusion, Recessions and Major Depressions
When the market value of Money changes continuously, because it cannot be stabilized by the underlying assets of the Certificates used as a means of payment, the changing value of the goods becomes confusing for entrepreneurs and for any other market participant.
A market participant uses the price signals to sell more and produce or buy more and may consume or invest more. Price signals are confused by the instability of the value of money. This phenomenon is referred to as monetary confusion, namely the confusion between a change in the value of a good and a change in value of the money used to trade the good.
If interest rates are artificially manipulated by the central banks, the expected value of money in the future becomes very uncertain and market parties are confused, interpreting price signals, resulting in more or less investment, production and consumption. The economic cycles with bubbles or booms and crashes or recessions are a direct consequence of the monetary confusion. Extreme cases of Monetary Confusion paralyze investments and dramatically reduce consumption that lead to major depression.
Good money
Money Is the object that covers the fear of losing value over a longer period of time in savings and shorter time as a means of payment. Good Money does that well. Objects are neuropsychological, evolutionary developed to deal with fear. Therefore, for money to be good money, it must have objective value. Government and private debts have no objective intrinsic value, but only an unstable Subjective Market value. Fiat money backed by debt is therefore not sure the value over a longer period of time. The subjective Market Value of fiat money-based debt without intrinsic value, is not stabilized value in the short term, for example by saving or saving, not even. That is why today's Fiat Money does not insure Value over a shorter or longer period of time and it is really bad money. It causes Monetary Confusion, economic cycles, recessions and depression.
Physical gold money has worked very well as money, because the subjective value of gold is relatively stable and it is further stabilized by its property that infinitely meltable without loss, but gold has no objective value. Physical gold Money is the best money in the art, but still not good money. The Spanish inflation in the 16th century, as a result of a massive foreign influx of precious metals, proves it.
Non-physical gold money has the problem of lack of continuous and transparent verifiability and is therefore subject to fraud. That's why it's not good money either.
The invention described is good money. To be good, money must have objective value, and to be a good currency, subjective trust must be enjoyed by members of the community. The objective value of the money as described here results from the net asset value of a Value Stock Portfolio used when the asset underlies the Certificate used as money. The continuous and transparent controllability of a public equity portfolio is objectively reliable and therefore offers the opportunity to build subjective trust between the members of the community who use money as a currency.
Value Bank system
The aforementioned is a method and procedure for an additional value banking system, embedded in software, to securely exchange and store stored value over time in cash and cash receipts allowing reliable exchange of value through its community currency.
Complementary Community Currency
Released is also a method to allow subjective confidence in the banking system and the currency to grow among the members of the Mint Community. This community currency is freely and voluntarily chosen by the members of the community and is a supplement to the legal currency.
Value Certificate as Money
The central value bank is a listed investment fund. The listed shares of the fund are the certificates that are Good Money and are therefore used as the Community currency.
The quoted shares of the fund are the value Certificates or the money, the stock price is the exchange rate. The continuous public trading of the money ensures the continuous exchange for other currencies, allowing the Subjective confidence to grow and the objective stabilization mechanism to be implemented, led by the Central Value Bank.
Value Money offer, Money stabilization of prices and Bank Partner arbitrage
Capital or value is brought into the central value Bank by community members or savers looking for reliable money when purchasing his money and use it as a Value Currency or Save Value Bonds.
Bank Partners, also called Value Banks, Broker the Value Currency to Community Members by Arbitrating the Value Currency in the Market. Therefore, Value Banks are allowed, from time to time, at discrete moments in time determined at the judgment of the central value Bank, to purchase its money from the central value Bank, at a premium to the Intrinsic Money value (determined by the market value of the Value Stock Portfolio), only when the market value of the Currency Value is above the net asset value and then selling it at the higher market price, reducing the money market price. And so to sell his money at a discount relative to its net asset value, only when the market value is below its net asset value, while buying it at an even lower market price, reducing the money market price. The continuous swing the market price around the intrinsic value is stabilized by the stabilization procedure, as indicated in Figure 6.
The profits from the sale are cash on a premium on the net asset value to Value banks flowing back to the Currency Community as described further below. The profit Bank Partners make by buying his money with a discount to market value and selling at market value is used by Bank Partners to repair their balance sheets, which are typically damaged by government debt or other toxic assets. Also with the profit from Bank Partners Value Buy money at market value, below its net asset value and sell it to the central value Bank with a discount Net asset value that is still higher than the market value. This arbitration by Banking Partners brings the amount of money to the demand for money, the use of the free-market pricing mechanism.
Covering the risk of long value loss
Securing value over a longer period of time is achieved by objectively modeling the intrinsic value of stocks and selecting stocks that have the smallest (and even negative) purely subjective component in their market value.
Stocks have an intrinsic value objective. The decrease of the subjective component in the market value of the Currency is hedged by selecting the share portfolio to maximize the safety margin. The safety margin is the margin between the target net asset value of the stock and the Subjective Market Value, as simply expressed in the price / earnings ratio. Selecting a portfolio with maximum safety margin minimizes the risk of losing value in the longer term, as has been successfully proven by Graham and Buffet.
Covering the short risk of loss of value.
The arbitrating between objective intrinsic and subjective market value, regularly done by Bank Partners to manage the money requirement is one of the stabilization procedure a currency must stabilize fluctuating Subjective Market Value (such as saving and reminting were in history). The short-term fluctuating Subjective Market Value has been stabilized around the Intrinsic Value objective that sets the value in the longer term. This covers the short-term risk of loss of value.
Covering the monetary risk of other currencies.
An important contribution to the volatility of stock prices is the volatility of the value of money. When the value of the currency in which the market value of the shares is expressed decreases, the price of the share will increase, as is the case with the price of another good. The geographical selection of the Value Stock Portfolio is done in such a way that it reflects the interest of the trading partners. When trading with a specific foreign currency is x%, then x% of the value Stock Portfolio is selected in that foreign currency. If that foreign currency value falls, the foreign capital will expand in the price and the currency value will remain constant in value, because the price increase compensates for the decrease in the value of the foreign currency, reflected in the exchange rate. A product bought or sold in that foreign currency that decreases the value will increase the price, the falling exchange rate to compensate for this increase. The average competitiveness of the community economy is naturally covered by this simple procedure and monetary confusion is not imported, nor are the five associated disadvantages.
Hedging risk of government and private market manipulation.
Contemporary governments have the power, through their (loosely) controlled central banks, to increase the money supply of their Fiat currencies. Private speculators can also borrow Rat Money. Short-circuiting this loaned Currency destabilizes the value of that Fiat Money, which Market Value will then together move closer to the intrinsic value, as, for example, 1992's Soros speculation against the British proved. The risk of the government or private short circuit with borrowed money value, against the Complementary Value Currency is hedged by making the Value Currency a full reserve currency, When the value Money is borrowed, its money Supply cannot be increased. Any down market manipulation, per se must first have an upward influence on the market value, because the full reserve currency must be purchased before it can be sold, it cannot be made in any other way by the manipulator. Any manipulation of the market value of the Value Currency can be settled by the Central Value Bank, through its Bank Partners, the transfer of value from the Community manipulator and the Partner Banks.
Covering the risk of loss of value protects against financial crises.
All risks of the absolute value losses are covered. Relatively, the value of the Value Currency can still depend on the expected economic outlook for the communities trading in the Value Currency, but this is a relative variation, which is a property of value itself. The value is relative. It is the share within the future production as a tip for the contribution to the previous production. That is why money is objectively hedging against all loss of value and is therefore good money. Good Money does not cause monetary confusion, because the value is stable. Crises are the result of monetary confusion. The Currency value also protects against entered Monetary Confusion. That is why the Complementary Value Currency is an objective of protection against financial crises.
The structure of the central bank value balance
Guaranteeing the full reserve character of the Value money is done by placing Savings and loans directly on the balance of the central value Bank. Money is only made when the Bank Partners wire other currencies to the central value Bank which then purchases the stock with these other currencies and creates full reserve Money in exchange, connected to the value Bank. This is indicated by the upper part arrow in the balance shown in Figure 7. Value Currency (as well as a number of other currencies) is held in reserve on the active side of the upper (and lower) balance, for trading purposes. The profit from the sale or purchase of his money on a premium or discount on the net asset value flows to the Community. This gain is added to a separate balance sheet that is not represented in Figure 3, the Community balance sheet, which entity, discussed further. The gain or loss that flows from the increase or decrease in the market value of the Value Stock to the net asset value of the Value Sock Portfolio and as such directly to the holders of certificates of the assets on the upper balance sheet. These are the holders of the Money, so also the members of the Mint Community. The increase in the value of a Value Stock Portfolio over a longer period of time, as shown by Graham and Buffet, sets the value of the Complementary Value Currency in the long term, as arbitration by the Banking Partners sets the value in the short term.
Loans and savings
Value Bank loans are provided in Value Currency. These value loans are granted directly from the second the central value Bank balance sheet, the lower balance sheet In Figure 3. The Bank Partners act as a broker in the sale of these loans to the Currency Community. These earned commissions vest at the time of the loan payment. This has the additional advantages that the Income for distressed commercial banks, together with the central value Bank is accelerated. This accelerated profit restores the balance sheets of these banks, which are typically saddened by impairments on government bonds and other toxic assets. The Central Value Bank finances the Value loans, expressed in its own value Currency, through the issue of Bonds store in the market, mediated by the Banking Partners, the Value Banks. The risk of impairment on loans is covered by the issuance of Perpétuai Saving Bonds, also under the auspices of the value Banks. As part of this invention, the rule is applied (and communicated transparently to the public) the establishment of a minimum condition of the percentage of outstanding value loans provided by Perpétuai Saving Bonds. A fraction of savings bonds may be held in cash for practical and reason trading. Save the amount of Perpétuai Bonds is the maximum condition for Private equity value Stock, as shown in Figure 3. The profit or loss generated by the value loans and the Private Equity Value Stock assets on the lower balance sheet of Figure 3 are allocated to the holders. of the Perpétuai Saving Bonds. The interest rate of the Value Saving Bonds is determined by the market price, upon issue. A liquidity rule under the value banking system is that saving Bonds redemption clauses should always be pro rate more mature than the value Loans redemption terms . Paying the interest on Value loans Is that the same interest rate, plus the commission for Value banks and a margin as a result of the average value reductions on credit percentage, which is determined periodically and communicates transparently to the public.
Enforcement of the rules of free market banking
The value Banking System rules are applied freely and voluntarily when licensed for this invention as a central value Bank, Bank Partner, Currency Community member or Currency Community representative organization. E.g. 1) the central value Bank assets and liabilities can only consist of those shown in Figure 3 with due observance of the boundary conditions, as indicated in this to be made public, or 2) the valid tender of the Value Currency as a means of settling debts , is freely and voluntarily agreed between the Mint Community members when purchasing the Value currency or 3) the redistribution of profits (as a free and voluntary tax, as their distribution in the currency community) is freely and voluntarily agreed upon at Buying Value Currency or Value Rise Bonds. No new legislation is needed to apply this invention.
Value investment rules
Public, but also Private Equity, Value shares are selected on the basis of maximum relative safety Margin or safety margin between subjective Market price and objective Net asset value, taking into account different preconditions. This safety margin optimization criterion can be the price / earnings ratio or method disclosed or any other criterion that objectively expresses fear of losing the net asset value of the Value share. According to the rules of the Value banking system the central value Bank is not allowed to include purely subjective criteria, desire for profit from market value. Therefore, the optimization criterion expresses an objective safety margin and not subjective expected or thought gain. A Value Certificate can only be successful or Good money, if Fear is objectively covered, because evolution has taught us that the successful way to deal with Fear is to objectify. Preconditions only take into account objective real risk, such as the available liquidity at the market, illiquidity risks, hedging of currency regions to hedge pollution caused by Monetary Confusion in other currency regions, to cover the balance sheet with financial risks, etc. The safety margin can be calculated as Graham and / or buffet to do, but not mandatory. According to the rules of the Vaiue banking system the Value Investing rules issued by the Central Value Bank must be objective and transparent to the public, while the equity portfolio itself is not published unless, from time to time, as required by law and other regulations, the central value Bank is bound to.
Co-laboratory or cooperative
A good banking relationship should be an Objective left brain activity that is not Subjectively speculating and therefore not Desire profit or value, it only covers fear of losing money value and not being reliable. A good banking relationship is therefore not entrepreneurial, but is a joint effort of Objectively securing value in money. The desired implementation of the central value Bank is therefore a cooperative bank and not a private company. Also the redistribution of the Free Tax, the profit to represent the Community Organization and realized by the central value Bank on the arbitration, carried out by cooperating Banks is a cooperative attitude or structure. According to the rules of this revelation holders of Saving Bonds can allocate their share in the future free tax profits, to specific social projects. Their share corresponds to the percentage share they own, at that time in the future in the time when the profits are redistributed, in the total savings Bonds on the passive of the lower, the second balance of the central value Bank. Representing the Community Organization organizes the selection of projects that the candidate as beneficiaries of this profit redistribution, purely on objective grounds, without Subjective (political) preferences. Representing the Community Organization also organizes the control and disbursement of funds to these projects, actually more a redistribution body of Free Tax.
Excluded activities and related activities.
Certain financial activities may be organized under the same brand as that of the Community, that organization and / or the central value Bank, but with a different and completely separate balance sheet means that no obligations or risks can be shared between these activities and the central value Bank. Such activities are called excluded activities because they are excluded from the central value Bank balance sheet and related activities because they can be conducted under the same brand as that of the Community, that organization and / or the central value Bank. Insurance activity is such an activity. It becomes Vaiue insurance activity when insurance risks are objectified and insurance premium investment is made with the help of Vaiue Investing. A Left Brain Interface should preferably be used to guide the investment and insurance process. A potential pay under a Value Insurance claim must be limited in time and scope. Life insurance and annuity are activities that must be separated from Value insurance activity, because the life and duration thereof cannot be objectified, with a sufficiently high accuracy or the low remaining pure subjectivity. After all life, the objective name of the Subjective transcendence in nature is more than material reality.
Dashboard Interfaclng
According to the description in the systems described herein, all banking processes can be automated software, and regardless of software automation, up to the left half can be comparable to other computer traditional interfaces. The right half processes can be linked by a dashboard 23, as illustrated. In Figure 2 as a function, an interface between bank policy decision engine 24 and the system 27 or another system 10. In the illustrative embodiment, the dashboard 23 is 1) defining new or additional rules, 2) changing existing rules to cover new perceived or otherwise perceived risks to the value safety margin of the stock, or 3) changing providing credit rules or general rules or parameters and variables used. In addition to modifying these active system parameters, the dashboard interface allows for the analysis of system performance and general functioning of automatic and non-automated modes. The dashboard 27 comprises a first or right-hand half interface display 80 mainly used for displaying video images that can be implemented in the illustrative embodiment with television image and an associated remote control. A second or left hemisphere user interface In the system of 27 uses mainly and / or stimulates the activity in the left hemisphere of the human brain, and also, to a limited extent, the right hemisphere of the human brain. System 27 can be implemented with a traditional personal computer, such as a computer or laptop system as well as other systems. In an exemplary embodiment, dashboard 33 presents visual, non-textual information, while computer 27 provides textual and / or numerical information and images.
Semi-automatic Trading system with Left Brain Interface
In order to minimize the level of Desire and the activity of Right Brain Consciousness, the trading system used by the Central Value Bank must be semi - automated and objectively structured.
This automatic trading is based on a mathematical software model that models the safety margin between the current price and the value of the stock or bond. Such a model is equipped with an optimization function for the safety margin between the price and the value of a collateral and total historical and / or expected income and / or distributed dividends and / or other value indicators and preconditions consisting of balance sheet risks and other risks such as geopolitical risks, monetary inflation risks, perceptual and absolute risk of exposure and other risks. The risk is defined as an objectively defined fear of loss, not subjectively determined and not as a loss of opportunity. Exceptionally, if such a trading system is not implemented fully automatically, manual intervention may be permitted. Non-exceptional manual intervention can be done through the Left Brain software interface. That Left Brain software interface can be designed to limit the available actions to actions related to objectively modeled fears or risks. For example, a manual labor or new automatic trading rule to optimize returns may be blocked in the interface, however, in a new precondition that models a new or changed risk allowed and supported in the interface.
Dashboard with Right Brain Interface
In exceptional periods in a new precondition that models allow and support a new or changed risk in the interface. Exceptional periods are periods in which new target risks are detected in the environment, not periods in which new Subjective possibilities are experienced. All processes related to minimizing known risks can be maximally automated under the value banking system In software and, regardless of software automation, should be maximal left hemisphere.However, detecting unknown threats and designing hedging strategies is an activity of right hemisphere consciousness. The right half processes are linked via a dashboard, as illustrated in Figure 2 as a function, an interface between the central value Bank policy decision engine and Bank participating system. In the illustrative embodiment, the dashboard is 1) graphically analyzing phenomena, 2) defining new or additional rules and performing simulations on data from the past, 3) changing existing rules to address new perceived or otherwise perceived risks cover to change the value safety margin of Value inventory and run simulations, or 4) provide credit rules or general rules or parameters and variables that are used and simulations to be performed. In addition to actively changing the parameters of the system, it Dashboard interface also makes it possible to simulate the newly proposed hedging strategies and graphical analysis / synthesis of performance and overall operation of the system in automated and non-automated modes.
Semi-automatic Trading system with Left Brain Interface
In order to minimize the level of desire and the associated right brain awareness activity, the trade necessary for deposits and the associated value of investments and for deposit and the associated value divestment should be automated to the maximum. This automatic trading is based on A mathematical software model that models the safety margin between the current price and the value of the stock or bond. Such a model is equipped with an optimization function for the safety margin between the price and the value of a security and weighs in total historical and / or expected Income and / or distributed dividends and / or other value indicators and preconditions consisting of balance sheet risks and other risks such as geopolitical risks, monetary inflation risks, perceptual and absolute risk of exposure and other risks. The risk is defined as an objectively defined fear of loss, not subjectively determined and not as a loss of opportunity. If such a system is not implemented fully automatically for trade, manual intervention may exceptionally be permitted. Non-exceptional manual intervention can be done through a left brain software interface. That left brain software interface can be designed to limit the available actions to actions related to objectively modeled fears or risks. For example, a manual labor or new automatic trading rule to optimize returns may be blocked in the interface, however, in a new precondition that models a new or changed risk allowed and supported in the interface.
Management costs
The operational costs of the central value Bank cannot exceed a predetermined and transparently communicated percentage of the money of the outstanding bank and savings certificates.
Transparency
The Central Value Banks standards and rules, including choices of variables (such as the numerical value of the percentages mentioned) to the public in a transparent manner and strictly applied and enforced. The Central Value Banks statutes reflect this revelation of the rules. Management is liable in case of intentional violation. Rules of Procedure can be changed to one of the central, non-Value Bank, if the majority of the votes of holders of depositary receipts so wish, but only if the Central Value Banks pays the non-voters who so wish.
Software implementation of a safety margin algorithm.
The objective Profit of a company is defined as the ex-post realized profit. The Subjective Profit price is the profit expected by all investors participating in the stock market. An efficient stock market is one where the market-priced profit equals the Profit objective. This is illustrated in Figure 6. In an efficient market, all stocks are placed on the 45-degree line. The safety margin is the distance above the 45-degree line. For those companies the target profit is greater than the subjective profit expected by investors. The maximum safety margin in the graph is the upper left part, where the target Profit is very positive and the Subjective Profit price is strongly negative.
Figure 5 illustrates the method of the algorithmic 800 developing value stock portfolio with one or more of the computer and software described. In particular, the process of creating a stock portfolio by computer for each stock instrument (i) an objective fundamental criteria, and (ii) a subjective market criteria, as evidenced by process blocks 802 and 803. In the illustrative embodiment, the objective fundamental criteria may exist from a number of criteria, such as valuation multiples, profitability criteria, solvency and liquidity criteria with regard to the most recent fiscal year available. Subjective market criteria can also consist of criteria such as market capitalization and average daily turnover. In the Illustrative embodiment, network-accessible memory 30 and 20 of the system 10 is used to store data on a plurality of equity instruments, each of which is associated with an entity that owns the equity instrument, for example, a sovereign tea, government institution, corporation. The type of the security is selected from a large number of different eigen-types.
In one embodiment, the underlying equity instrument consists of the asset that underpins the currency and comprises at least: a share, a commodity; a future contract, a bond, an investment fund, a hedge fund, a fund of a fund; an exchange traded fund (ETF), a derivative and / or a negative weighting on an asset. Such equity instruments may also consist of one of a debt instrument; at least one unit of interest: an asset, a liability, a tracking portfolio; a financial instrument and / or a security, where the financial Instrument and / or security represents a debt, an equity interest and / or a hybrid, a derivative contract, including at least one of: a future, a future, a put, a call, an option, a swap and / or any other transaction with regard to a fluctuation of an underlying asset, in deviation from the current value of the contract, and despite whether such a contract is considered for accounting purposes as an asset or liability, a fund, and / or an investment entity or for account of any kind, including an interest in, or rights related to: a hedge fund, traded an Exchange Fund (ETF), a fund of fund , an investment fund, a closed-end fund, an investment vehicle, and / or any other combined and / or separately managed investments.
In another embodiment, an objective metric of the intrinsic value of a proprietary instrument, which serves to substantiate the underlying value of the currency, can be at least one of: sales, profitability, sales, total sales, sales abroad, domestic sales, sales; gross sales, profit margin, operating margin, retained earnings, earnings per share; book value, the book value adjusted to inflation; carrying amount corrected for the replacement value; book value adjusted for the liquidation value, dividends; assets; tangible fixed assets, intangible assets, fixed assets; property, plant; equipment; goodwill, replacement of the value of assets; Adjustment value of the assets, liabilities, long-term debts, short-term debts, equity, research and development costs, debtors, profit before interest and taxes (EBIT); profit before interest, taxes, dividends, and amortization (EBITDA), payable accounts; costs of goods sold (CGS), debt ratio; budget; capital budget; money budget; direct labor budget; factory overhead budget; operating budget; sales budget; inventory system; type of shares offered; liquidity; book income, taxes, capitalization of profit, capitalization of goodwill, capitalization of interest, capitalization of sales, investments, cash, compensation, staff turnover, overhead costs; credit rating; growth; tax rate, liquidation value of entity, capitalization of cash, capitalization of profit, capitalization of sales; cash flow, and / or future value of the expected cash flow.
In another embodiment, the world of units which may be associated with an instrument of its own may include at least one of: a sector, a market, a market sector, an industry, geographic sector, an international sector, a subIndustry, a government issue and / or a tax-exempt financial object, agriculture, forestry, fishing and / or hunting in the industrial sector; mining sector; utilities sector; construction sector; industry sector; wholesale industry, retail sector, transport and / or storage industry sector, information industry, finance and / or insurance sector, real estate and / or rental and / or leasing industry, professional, scientific and / or technical services industry sector, management of companies and / or industrial sector companies, administrative and / or support and / or waste management and / or remediation services sector; education industry sector, healthcare and / or social assistance industry, arts, entertainment and / or recreation industry, lodging and / or food service industry, other services (excluding public administration) industry, and / or public administration industry.
In another embodiment of the underlying asset based on substantiation of an amount of currency includes instruments other than government debt instruments or sovereignty. Subsequently, an equity instrument with an associated value for the objective fundamental criteria and the subjective criteria market outside of a predefined set of values, for example outliers, is eliminated from equity instrument data set, as appears from process block 804.
A linear comparison is then made with the form: minus [valuation of multiple i * portfolio weights] resolved with any number of own, whereby the value for the objective fundamental criteria and the subjective market associated with the security and at least one predetermined criteria, as appears from method block 806. The predefined criteria can be stored in the memory 20 of system 10 as one or more rules 21 interoperable with the decision of the motor 24. Such rules may, for example, take the form of one of the following: Rule 1 - No more than x% (of the total value of the equity portfolio) are invested in one
Rule 2 - No more than 1% can be invested in a country;
Rule 3 - No less than y2% can be invested in a currency region;
RULE 4 - The portfolio's profitability criteria must be in the upper ath percentile;
Rule 5 - The portfolio's solvency criteria must be in the upper ßth percentile;
RULE 6 - The portfolio's liquidity criteria must be in the top y th percentile;
Rule 7 - The portfolio of valuation multiples (except for the multiple I valuation) must be in the lower 2TH percentile.
In one embodiment, usually! 1 of the value of x can be between 0% - 5% and more preferably between 0% - 2%, but even more preferably of less than 1%. In complementary value of x, dynamic y can be determined or calculated in advance by a separate risk model.
In one embodiment, in line 2 and line 3, yl and y2, respectively, may fall depending on matching the ratio of foreign trade currencies In the foreign trade of the community in the currency, the ratio of selected stock expressed in these foreign currencies.
In one embodiment, lines 4, 5 and 6, alpha, beta and gamma, respectively, typically higher best quarter selections and may have values between 1% - 100%, but preferably between 50% and 100% but still preferably between 75% and 100 %.
In one embodiment, rule 7, z may have a value that is lower than quarter selection, and may have values between 0% - 100%, but preferably between 0% - 50% and even more preferably between 0% and 25%.
Thereafter, only the equity instruments that result in a positive weight are stored in the share portfolio in step 808, as is apparent from process block 810. The exemplary embodiments of the above-described safety margin described herein are for illustrative purposes and not intended as limitation.
Although the various embodiments of the system and techniques described herein with reference to interests in the form of images, the system described herein, especially the portfolio assets, can also be used with other types of equity instruments with substantially the same disclosed system and techniques as would be understood by the reasonably experienced in the relevant art, given the disclosures as set forth herein.
It will be appreciated that the changes to the systems and processes described herein may occur without departing from the spirit and scope of the communication. For example, two elements using a network or directly using either a push or pull technique may be described in addition to a specific communication protocol or technique. Furthermore, in deviation from the network implementation described, an existing or future network or communication infrastructure technologies may be used, including a combination of public and private networks. In addition, although certain algorithmic flow charts or data structures may be illustrated for example purposes, other processes that achieve the same functions or different data structures or formats are considered within the scope of the concepts described. As such, the exemplary embodiments are described for illustrative purposes and are not intended as a limitation.

权利要求:
Claims (41)
[1]
CONCLUSIONS
1. A production item for use as a currency consisting of: A) a proof of representation of a value quantity as a currency quantity; B) an underlying asset with an intrinsic value that is linked to the currency quantity; and C) a mechanism for substantiating the value of the currency with the underlying assets.
[2]
The production article of claim 1, wherein the substantiation mechanism comprises a smart chip associated with the currency.
[3]
The production article of claim 1, wherein the substantiation mechanism comprises a traceable computer address that is embedded in the proof of representation of the currency.
[4]
The production article of claim 1, wherein the substantiation mechanism comprises a warning mechanism to indicate whether the net asset value of the assets associated with the currency amount has exceeded a predetermined limit value range of values.
[5]
5. A method for handling the exchange of goods / services, consisting of: A) providing a quantity of goods or services to which a value is attached; B) providing a currency amount to which an assigned value is associated, the currency further comprising a mechanism for substantiating the currency value with an asset base with an intrinsic value associated with the currency amount; and C) exchanging the quantity of goods or services for the verified and substantiated currency quantity.
[6]
The method of claim 5 further comprising: D) verifying whether the traded value of the currency is substantially similar to the net asset value associated with the asset base of the currency.
[7]
The method of claim 6, wherein D) comprises: D1) confirming that a portfolio of at least one equity asset associated with the currency representation certificate has an Net Asset Value that is at least substantially equal to the assigned value of the currency amount.
[8]
The method of claim 5, wherein the asset base comprises a equity instrument portfolio made with the method of claim 28.
[9]
The method of claim 5, wherein the asset base is provided with other currency instruments.
[10]
The method of claim 5, wherein the asset base is provided with a combination of equity instruments and other currency instruments.
[11]
The method of claim 5, wherein the asset base is provided with a equity instrument different from Debt Instruments of a government or sovereignty.
[12]
12. A method of avoiding fluctuations in the value of material currency or an intangible proof of such material currency or of intangible currency, the method comprising: A) providing a quantity of material currency or of an intangible proof of such material currency currencies or intangible currencies, as material or intangible evidence representing a value amount, where the currency quantity has a numerical nominal value; B) supporting the intrinsic value of the currency amount with a portfolio of equity instruments by turning the currency amount into a certificate representing ownership or profit rights in the portfolio of equity instruments; and C) using a model of the net asset value of the currency amount and / or a model of the net asset value of the portfolio of equity instruments to hedge the risks of a falling value of the currency amount.
[13]
The method of claim 12, wherein B) comprises: BI) modeling an absolute or relative safety margin between the modeled Net Asset Value of a stock instrument and a market price of the stock instrument to select the portfolio of stock instruments that underpin the currency harness / or reselect.
[14]
The method of claim 13, wherein B) further comprises: B2) selecting equity instruments as part of the portfolio to hedge either currency risks or import risks in the event of monetary instability of other currencies for users of the currency amount.
[15]
The method of claim 14, wherein B) further comprises: B3) equalizing the ratio of foreign trade currency to the foreign trade of the community using the currency, with the ratio of a selected stock expressed in said foreign currency.
[16]
The method of claim 13, wherein C) comprises: Cl) hedging long-term risks to the currency value, by using a price-to-value safety margin model,
[17]
The method of claim 16, wherein C) further comprises: C2) hedging short-term risks to the currency value through arbitrage of subjective currency value against an objective currency value, the arbitrage directly or indirectly through market makers .
[18]
The method of claim 16, wherein C) further comprises: C2) hedging short-term risk of the currency value by arbitrage of the market value of the currency against the Net Asset Value of the currency, the arbitrage directly or indirectly via market makers.
[19]
The method of claim 18, wherein C) further comprises: C3) modeling the net asset value based on the market value of the underlying equity instrument portfolio and / or based on the net asset value of the underlying equity instrument portfolio.
[20]
The method of claim 19, wherein C) further comprises: C4) determining the net asset value of the underlying equity portfolio based on a model such as In BI).
[21]
The method of claim 12 further comprising: D) exchanging an amount of goods or services with a value that is substantially equal to the value of a currency amount, said currency amount being used as an exchange means.
[22]
The method of claim 12, wherein the currency amount is in the form of coins, paper or plastic currency, or electronic certificates.
[23]
The method of claim 12, wherein selection of the equity instruments in the portfolio of equity instruments is based on at least one predetermined rule for covering long-term risk.
[24]
The method of claim 14, wherein the arbitrage of the price relative to the Net Asset Value of the equity instrument is performed in accordance with at least one predetermined rule for hedging short-term risks.
[25]
The method of claim 12, wherein the tangible or intangible currency or the electronic proof thereof has a verification mechanism associated with the representation of the currency amount to allow for confirmation or verification of the Net Asset Value associated with the currency amount.
[26]
The method of claim 25, wherein the value verification mechanism comprises a traceable computer address that is embedded in a representation of the currency.
[27]
The method of claim 25, wherein the value verification mechanism comprises a warning mechanism to indicate whether the instantaneous intrinsic value of the currency amount exceeds a predetermined maximum limit value or plunges below a predetermined minimum limit value.
[28]
28. A method for creating a equity instrument portfolio that substantiates a tangible or intangible currency, comprising: A) calculating for each equity instrument from data stored in a network-accessible memory, the data representing a plurality of equity instrument, wherein each equity instrument is connected to an entity that issues the equity instrument of: (i) an objective fundamental criterion, and (ii) a subjective market criterion; B) eliminating the equity instrument associated with any entity that has an associated value for the objective fundamental criterion and the subjective market criteria that is outside of a predefined interval of values; C) for each of the plurality of equity instruments, scaling a ratio of the calculated value of the objective fundamental criterion to the calculated value of the subjective market criterion using at least one assessment criterion to minimize the risk; and D) retaining within the equity portfolio only those equity instruments that result in positive consideration values in C) above.
[29]
The method of claim 28 wherein the at least one predetermined consideration criterion requires that less than 1% be invested in one business entity.
[30]
The method of claim 28 further comprising: E) Associating the equity instrument portfolio with a currency amount that has a value depending on the net asset value of the equity instrument portfolio,
[31]
The method of claim 30, wherein the equity instrument portfolio is associated with a currency as defined in claim 1.
[32]
The method of claim 28 wherein the at least one predetermined weighting criterion requires that the profitability criteria of the portfolio be in the highest 75% to 100% percentile.
[33]
The method of claim 28 wherein the at least one predetermined weighting criterion requires that the solvency criteria of the portfolio be in the highest 75% to 100% percentile.
[34]
The method of claim 28 wherein the at least one predetermined weighting criterion requires the portfolio liquidity criteria in the upper 75% to 100% percentile.
[35]
The method of claim 28 wherein the at least one predetermined weighting criterion requires the valuation multiples of the wallet to be located from 0% to 25% percentile, except for the valuation multiples i.
[36]
The method of claim 28, wherein the objective fundamental criterion comprises any of the valuation multiples, profitability criteria, solvency criteria and liquidity criteria with respect to the most recent fiscal year that is available.
[37]
The method of claim 28, wherein the subjective market criterion consists of any of market capitalization and the average daily turnover.
[38]
38. An automated banking system comprising: A) at least one network-accessible central banking system comprising: i) a network interface; ii) at least one processor; (iil) a memory for storing an executable model of a stock portfolio and a plurality of predefined rules related to selection between or trade in equity instruments and the issue of currency, the currency; and B) a plurality of participating banking systems coupled via a network to the central banking system, each of the participating banking systems comprising a user interface for enabling automatic and semi-automatic interaction with the central banking system across a network.
[39]
The system of claim 38, wherein the memory of the central bank further stores an executable model of a stock portfolio that incorporates an optimization function for maintaining a relationship between a current trading price and a current net asset value of a traded equity instrument and / or a traded currency from that central bank and / or other currencies.
[40]
The system according to claim 39, wherein the relationship between the current trading price and the current net asset value of the traded equity instrument and / or the currency it supports is calculated by dividing the price by the total perceptual weighted historical income and / or the dividends paid and / or other value indicators.
[41]
The system of claim 38, wherein the participating banking systems can perform one or more of the following steps: i) graphically analyzing phenomena; ii) defining new or additional rules and performing simulations on past data; iii) modifying existing rules to cover newly discovered or differently perceived risks or to remodel the value-value margin of the share value and to perform simulations; or iv) changing lending requirements or general rules or parameters and variables used and performing simulations.

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同族专利:

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公开号 | 公开日

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引用文献:

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公开号 | 申请日 | 公开日 | 申请人 | 专利标题

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US20090265260A1|2008-04-22|2009-10-22|Christian Aabye|Prepaid chip card exception processing|

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法律状态:
2019-03-06| FG| Patent granted|Effective date: 20151126 |

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2019-03-06| MM| Lapsed because of non-payment of the annual fee|Effective date: 20180630 |

优先权:

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申请号 | 申请日 | 专利标题

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US201161497752P| true| 2011-06-16|2011-06-16|

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US61/497752|2011-07-16|

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US201161510803P| true| 2011-07-22|2011-07-22|

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US201161536857P| true| 2011-09-20|2011-09-20|

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US201161563982P| true| 2011-11-28|2011-11-28|

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US201261646409P| true| 2012-05-14|2012-05-14|

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