Who knows the difference between money and currency?
Who knows what money is?
Who knows what currency is?
Before diving into the timeshare swamp, points systems are described by many in the timeshare industry as a currency and are issued once you become a member of a purported select club. The alleged currency is points. The name “points” is just that, a point, like calling something a pound, a euro of a doddle bop.
“Points” is just a name for a factious unit; we commonly refer to that factious thing as money. Money is imaginary and an illusion.
“It is absolutely imperative that you understand that money exists only in the human mind. You cannot hold money in your hand, not you, not anyone. Money exists as an unreal concept to enable us to run our economy easier. Money must only represent the value of human labour (including services) and the natural resources labour touches. Being unreal, money can NOT be printed”.
So points, like the pound does not, in truth exist.
Money however is NOT currency and likewise Currency is NOT money.
Since money is unreal, it would be convenient to have something real to represent it.
We need something we can get our hands on to use in our daily lives. So, we used our human mind and invented “currency” to represent money.
Now we have something real that we can hold in our hands and use to exchange value. But beware of a pitfall. It is much too easy to start calling currency money, and that is where we get into a heap of economic trouble. People get to thinking that currency is printing money, but that is far from the truth. Printing currency is and always has been ink on paper.
What’s currency; it’s a level of want and economical value. That level of want determines the value of the offer you make in the batter you are about to perform.
If you what to sell a kettle and someone offer you £1.00 you may sell it. You have two bidders and the 2nd bidder offers you 3 goats, you will value that trade as well. If you prefer the £1.00 over the goats then you will choose which one to accept. Each offer is a “currency”.
Currency Merely Represents Money.
Since money is unreal, it would be convenient to have something real to represent it. We need something we can get our hands on to use in our daily lives instead of carrying around a wallet full of goats. So, we used our human minds and invented currency to represent money.
Back to points;
Currency comes in many forms, however in timeshare it comes in the form of points, those points can be one of two types, Paper and/or electronic.
To my knowledge the only one offered is electronic and in this situation you pay sovereign currency in exchange for an electronic stored currency, called points.
Those points are not accepted by anyone other than the seller of the points or someone associated with them. This being the case it is a “closed loop currency”.
Closed loop currencies are not regulated. They are not evaluated by market forces and are subject to the sellers own determination as to their exchange value.
They are exchanged for holiday accommodation only. Pondering that, if you invested in their own manufactured currency, Why would you accept their currency for any purchase you made with them. For instance if you acquired say 5,000 points and paid £500.00 for them, can you take those unused points and pay next year’s maintenance fees with them? The clear answer would be no.
So imaginary money is issued via a currency which no one will accept (other than the issuer) who will only accept it for the sale of a single product. The currency attracts no meaningful external value, is unregulated and appears to not be subjected to any market test. How are those currencies lawful?
The test of a currencies worth is its value to others, and in this situation where the issuer or they associates will not accept it to buy other products like drinks at the bar, meals in the restaurants and forward years maintenance they attribute little value to their own currency.
The story does not end there. Assume you become a member of the club and the club accepts English pounds, say £500.00 and that price pays the yearly fees. It can therefore be said that the club accepts UK pounds and will pay its fees with those pounds. So, why do you need points? The developers are profiteers and profiteers want to make as much as they can, to exploit that quest they cut costs and increase sales. If you visit cutting costs why would you invent a points system when £ are good enough? Why pay all that money to regulate a currency which is not universally accepted, not accepted globally and costly to run.
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For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk