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I realized how ignorant I was when discovering that, my parents, after winning the lottery in 1998 and becoming instantly rich, only to become bankrupt 4 years later, were part of a statistic which said that 19 out of 20 lottery winners will not only lose all their winnings, but will actually lose more than what they won.

As shocking as this statistic was for me, it only became more shocking and revealing when I then discovered that the same statistics hold true for the number of people who will retire with insufficient funds, and the number of businesses that will ultimately fail. It was obvious to me that these statistics were not a co-incidence and so from that moment my whole perspective on life changed and I was determined to seek out not only the reasons for this shocking fact about money, but if there was a way to become one of the 5%

This led me down a path of learning anything and everything I could about business, finance, economics, success etc, which inevitably led me down a path of psychology, emotional intelligence and so forth. However, after a while, and with mixed successes something changed me completely, and it was when I posed a quesiton to myself 'what would all those volunteers, charity workers, religious preachers etc of this world do if all of a sudden everyone in the world had all their needs met?'

This was a naive question but it shattered almost everything I had worked on up to that point. Immeditaley my focus became seeking a deeper truth about life and what my purpose really was and I ended up formulating my purpose into one goal 'to rebut the often parroted term that it is a fact of life we need money'. I do not know if people who make this comment mean it to be a fact of life that money must always exist, or that it is a fact of life that every person in the world will have to accept that their only means of survival is to deal in money and accept all the principles it rests on, and that if they choose not to do so they will starve.

This led me down a path of religion, philosophy, law, politics, history, and just about anything and everything I could get my hands on, and it has been both extremely and emotionally painful and disturbing on the one hand, and liberating on the other, as the layers of the onion have been slowly peeled away day by day.

Although I do not at this point live 'without' money, I do see a light at the end of the tunnel, at least I hope I do, which suggests that there is a way for an individual or family to co-exist alongside everyone else and lead a very fruitful and productive life that does not involve money at least not on their part, but which still contributes to society, but more importanlty, does not come at the expense of basic human needs (or rights). I cannot explain the model in detail very well because it always seems to challenge core beliefs and become unimaginable to the person I am explaining it to (I have attempted to explain it to economists, religious leaders, lawyers, aboriginal activists, politicians, around the world who all shared one thing in common, a strong desire for change in the world due to their perception that the world suffers from too much inequality, and with the exception of one barrister who finally understood my model and could see no legal, economic, religiuous or moral reason against it, none of these other people have understood it because at some point their beleif system did not allow it to penetrate any further); but what I can offer is an answer to your question from another article on this website which was 'What is your definition of rich?'

To this I answer, my defintion of rich is to be able to hold every present and future resource, both internal and external, whether that be the fruits of my labours or mind, or tangible resources, in trust for the community as a whole, so that whilst I occupy or possess the resource merely as a utility, the community as a whole owns all beneficial interest in these resources, and upon my death all possession will revert back to the government (the community). This means, I possess a house, land, wheelbarrow, chickens, hammer, clothing, and any other resource for which would be required to meet basic human needs of my family, including education, energy, and food until such time as I can become self-sufficent, as a trustee, and the beneficiary is the community as a whole. It is holding resources in trust so that no exploitation for monetary gains is possible, but rather to make those resources productive purely on the basis for what they were designed for, for example, a house for privacy, shelter, educaiton, worship (if your religiously inclined) etc, and not for the purpose of capital appreciation or income - chickens to produce eggs for consumption, and not for commercial means. Under such a trust, it would be a breach of both trust law and the commandments, if I then took any of those resources, including my labours, and sold, leased, or otherwise dealt in money or engaged in the formation of any legal relations, contracts, or agreements that created choses in action. In fact, by operation of law, it would be impossible to even convert any resource into money for the community would then become both debtor and creditor of the same item, i.e. the money. An ability to live, not under the legal relations of debtor/creditor which require private property ownership and which burden government, but under a mutual trust with the government as the representative of the community (the beneficiaries) where property ownership (i.e. the right to exploit for monetary gain) is not essential to my well-being. It is hoped my children will follow in my footsteps by way of knowledge, and as such, there will be no need to pass down property - hence, what reason do I have to own property. That is my definition of rich.

Kent Thune


Thanks for the thoughtful comment! I will reply when I have more time to read it, reflect, and respond in kind.


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About Kent Thune

  • Kent Thune is a wealth manager, a writer and a philosopher... Read More


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