(June 4 2020) It occurred to me that I have been so immersed in this for so many years that I may have failed to give a proper comprehensive and understandable explanation of WEREX and its potential.
WEREX is, or will be when fully operational, an essential marriage between a suite of generic social-media sites like Faceb**k, YouT*be, and Tw*tter, etc. on the one side, and a financial exchange mechanism like Bitco*n on the other.
Conspiracy theories notwithstanding, almost all of these nominal social-media sites appear to have some real and actual connection to national intelligence agencies. And they all offer nominally free membership and services but you have to agree that the site becomes the legal owner of anything that you post on it.
You also have to agree that the owners of the site have an unconditional right to ban anything that they don’t like, and to de-platform anyone who writes or produces anything that they don’t like.
So why is there no competitor to Faceb**k where everyone gets to keep the legal-title or exclusive rights to their own writings and postings (or videos, etc)?
No rational man or woman would choose the actual Faceb**k over its theoretical uncensored open-competitor, and yet these obviously more attractive competitors are seemingly never allowed to even get started.
It would appear that in order to get established a potential competitor would have to be really big right out of the starting-gate. And that is where the Bitco*n-like side comes in.
We know from observation that a Bitco*n-like financial exchange mechanism can work by the simple fact of Bitco*n. It represents some 67 million people who all agree that the coins are currently worth about USD-$8,800 each by reason of the means and limitations under which they are created.
What we want to do with WEREX is to get 300 million people (mortgage-equity-holders) worldwide to agree among themselves that BEEC’s are worth $1 each and then or concurrently disburse them pro rata according to how much they have ever paid into a registered mortgage transaction (Principal plus Interest).
First, note that it is perfectly legitimate even if there were nothing unlawful or illegal about what the bankers have been doing.
It is just a limiting mechanism that transfers value to the coins (BEEC’s) because no one can effectively cheat against the total because the total is fixed by the total amount of registered mortgage equity, and can only be increased in direct proportion to the amount of new gold that is mined from the ground. If the total supply of mined gold increases at the rate of 1% per year, then the total supply of new BEEC’s (over and above the amount already defined by the total mortgage equity) will be limited to an increase of 1% per year.
Just as Bitco*n is limited by a computer-based mining algorithm that gets exponentially more difficult with every successive Bitco*n that gets mined.
It is the same principle that gives gold its value. There is a limited supply of it and it is impossible to fake-it or cheat against it in fact (or at least not for long).
But the most valuable aspect is the fixed existing supply of about $150 trillion USD-equivalent as defined by all the mortgages in the world. Averaged across a world population of 7.5 billion people it is $20,000 per capita. Averaged across the one billion or so people who live in the (past or present) mortgaged households it works out to about $160,000 per capita.
At its full potential and fully disbursed it will represent less than 10% of the existing global money supply.
Based on its design elements the maximum likely value is only about $5 per BEEC and not $8,800 or $10,000 or $20,000, because it reflects real equity and stable purchasing power and not speculation. (That is, at a $1 imputed exchange value you would be able to buy a $500,000 house for 500,000 BEEC’s – but if the entire system were to go down the tubes leaving BEEC’s as the sole world currency, then that same house might cost only 100,000 BEEC’s which would represent a five-times increase from $1 to $5 in the relative value of a BEEC).
Many people seem to be interpreting it as a kind of legal-action against the banks but that is not at all what it is. It is not necessary to involve any courts or any lawyers nor to accuse your bank of anything at all.
Assume, for example, that you wanted to create a new worldwide credit card that would compete with visa and mastercard. A valid marketing strategy would be to simply give one of your new cards to everyone in the world who already has a visa or mastercard and with the same credit-limit.
The visa and mastercard banks are not what the public thinks they are, but they do in fact invest a great deal of resources into evaluating and verifying the nominal credit-worthiness of the people they rob.
Likewise the people who work for all of the world’s private nominal banks invest a great deal of time and effort to verify and qualify the people from whom they receive (and then re-insure) mortgage-secured-credit even if they do also deceive themselves into believing that they are making mortgage-loans to them.
All WEREX is doing is taking the constructive or actual equity-titles (in the form of the official registered record of the transaction) to the USD-equivalent of $150 trillion of mortgage equity worldwide and then disbursing it via a new crypto-currency called BEEC’s pro rata to the 300 million people worldwide who created the value when they qualified-for and issued their mortgages, but did not receive the underwriting credit for it at that time. If you issued and registered a $500,000 mortgage, then you are entitled to 500,000 BEEC’s.
The basic rule is that an equity-trust is created every time someone receives something-for-nothing, and the entire banking system is designed to transfer all of the wealth to the banks for nothing.
Everything of substantial value has two titles to it – a legal-title (which almost everyone is familiar with), and an equity-title or use-title. Most people don’t realise it because the use-title is normally constructive by possession of the thing. A good example is a rental car where the rental company owns the legal-title to the car but the renter has the use-title while the car is in their possession.
For our purposes, the most important aspect is that you can illegally and unlawfully deprive someone of the use of a thing (e.g., by stealing their rental car from them), but you cannot steal the use-title from them. That is why the use-title or equity-title to a mortgage is constructively lost or abandoned as and when the mortgage is delivered to the bank. Because of all the legal defects on the face of the mortgage, the bank cannot and does not obtain the use-title even though it may obtain the physical mortgage and convert its use in fact.
In the same way that a thief who steals your rental car may obtain possession and the use of it, but they do not and cannot obtain the use-title or equitable right to use it precisely because of the fact that they stole it.
The most essential point is that it does not matter-in-fact. The WEREX model is perfectly solid and legitimate even if I were to be wrong with respect to the alleged mortgage defects. It is just as legitimate as Bitco*n even if there were no such defects. In fact it is vastly superior to Bitco*n because the equity is real and not artificial.
On the financial side, I am trying to distribute $200 billion worth (200 billion BEEC coins) of my 1% salvage commission (1.5 trillion BEECs in respect of the mortgage equity component) among the first one million people to join as if they were early investors in Faceb**k (or any of the other major successful social-media sites), and notwithstanding that joining is free.
Faceb**k has a market cap of about $650 billion, which is the total current market price of a share, times the number of shares outstanding.
So if Faceb**k had one billion members or accounts, then the market would be evaluating or assessing each account as having a value of $650. Because it allegedly has some two billion accounts that translates to about $325 per account.
But all that wealth was (and is) in fact channelled to a relative handful of insider-early-investors to create a relative handful of multi-billionaires.
I want to do the same thing by giving the same approximate rate of return to a total of one million people (the first one million to join) and based on an imputed value of about $100 for joining (instead of $325 as with Faceb**k).
That is, everyone who joins Faceb**k is contributing an average of $325 of capitalized value, but they don’t get any of it because it is channeled instead to the shareholders. (e.g., one the really early investors reportedly made $40 million on a $5,000 investment).
With WEREX the first one million to join get 100,000 BEEC’s for joining as if they had made a $100 cash investment as an insider or early investor in Faceb**k and made 1000-times their investment back when it went public and global.
Plus another 100,000 BEEC’s for getting two other people to join (at 50,000 each).
So if one million people join who each bring in two more people, then each of them will get 200,000 BEEC’s as a total bonus, in addition to the value of their registered mortgage Principal Amount (plus interest).
The total to be disbursed as bonuses to get to the one million member mark is 200 billion BEEC’s.
But any one member can bring in up to 100 others to get a total bonus of up to 5 million BEEC’s (but only until we hit the same total one million members).
I hope that all of this makes sense. I am just trying to achieve the same results as the major social-media sites by anticipating the market value of the BEEC’s (We only need to maintain an exchange value of $1 (versus $8,800 for Bitco*n) and we have a fair and equitable limiting algorithm because it is all based on equitable contributions already made and registered.
The total pool of assets / coins is already fixed and cannot be changed ($150 trillion owned by 300 million people (in respect of registered mortgage equity) and it can then only be increased in the future by exactly the same rate as new gold is mined from the ground so that the value of a BEEC cannot be debased by overproduction (the equivalent of printing money).
In a sense the exiting system cannot compete against it because it is impossible to give the people a better deal. Faceb**k and the others have been designed to channel all the value to the people at the top who are manipulating the system, while WEREX is designed to give 300 million people who for the most part are the world’s responsible homeowners exactly the amount that they were cheated out of by this same system. That’s equity.
When we hit the one-million activated-seat-mark, we will put out the actual crypto-currency production contract for tender. The requirements are relatively simple and there are hundreds of crypto-currency developers in the world who can bid on the supply-contract.
In the 1960’s Marshall McLuhan famously wrote: The medium is the message, as the world adopted the mantra of form over substance.
But that has run its course, and we are now forced to return to equity – meaning substance over form. The thing of real value is the $150 trillion of prepaid equity as latent in the registered mortgages. The crypto-currency (BEEC’s) is merely the delivery mechanism by which to access that value.
Bitco*n is form over substance.
BEEC’s are substance over form.
Any feedback or questions are most welcome! Thanks. Tim.