1- THE UNIT OF ACCOUNT

The use of a monetary standard:

More than 4000 years ago silver was the first metal used as money.

Since then, the world has not stopped adopting and abandoning its monetary standards: copper, silver, gold, dollars ... depending on the necessities: wars, devaluations, hyper- inflations, scarcity of gold.

Disadvantages of the last gold standard (1971):

Due to an uneven distribution of gold on land, the gold standard benefits gold-producing countries.

The amount of money in circulation is constrained by the amount of gold available to the country.

The price of gold varies with demand, scarcity and ease of extraction.

As the available amount of gold on Earth is limited and subject to random deposit discovery, it is unlikely that its price will stabilize one day.

Ensuring the stability, safe transportation and storage of gold has always been a critical issue.

The search for a new monetary standard:

On the strength of these historical observations and the abandonment of the gold standard in 1971 by the USA, we looked for a universal and invariable monetary standard:

"hours of work without qualification"

appeared to us as an interesting solution:

1 - The measurement of time is accessible to all.

2 - The time is invariable 24h / day & 3600 seconds.

3 - The notion of work is universal.

4 - Qualifications are recognized worldwide.

5 - The hour of work without qualification is therefore universal and invariable in time and space.

We will call this new monetary standard:

the WAT$

The WAT$ measures the power of human work

as well as

The Watt measures the electrical power.

- - - - - - - - -

The WAT$ is also the abbreviation of

" Work and Time"  

the " $ " symbolizing the currency.

Advantages of WAT$ as a monetary standard:

The WAT$ being dematerialized it is easy to:

- store,

- transfer,

- secure.

The WAT$ are produced by the work of each individual or establishment in finite but unlimited quantity.

His course will remain invariable:

1 hour of handling = 1 WAT$,

1 hour of mechanic = 2 to 6 ... WAT$,

1 hour of robot ... = 0.01 to x ... WAT$,

1 baguette tradition = 0,10 to 0,14 ... WAT$.

It is easily quantifiable and divisible into centimes.

In 2018 in France, it is enough to divide by 10 a price in Euros to obtain its value in WAT$.

(Smic schedule 2018 ~ 10 €).

The WAT$ has the same value in every country at any time:

10 WAT$

earned in 2017 in Geneva  

will give the same purchasing power  

in 2032 in Bombay.