The purpose of this article, is share to the common citizen, a summary of knowledge about what is the money, the economy and finance. Employing a simple and clear language.
Before come in this revealing topic, we recommending to the dear reader, get prepared reading or seeing, to the greatest geniuses of our times, in the economic field: Robert Kiyosaki, Mike Maloney, Paul Grignon, Christ Martenson, Steve Keen y Charles Hugh Smith. (The majority are economists’ autodidacts)
It pass unnoticed, that in all the societies of the world, be of the first or third world, it don´t teaching nothing about ¿what is the money? It´s impressive and unbelievable, when we discovered that this nor is teach in university careers of economy and finance. THE ECONOMIST DON´T KNOW WHAT THE MONEY IS!!, given that were didn´t teach to them. Nor they teach it in the famous business schools, as Harvard and Oxford.
But sure are exist economics professors good prepared, as the professor Steve Keen, that he was leading a group of economist in the University of Kingston in London , ideaeconomics.org, for better the studding plan, of the career of economics, to world level. Whit the finally to include the critical thought, the simulation of dynamics economics systems, and the include of the banks in the economics models. Fundamentals elements for convert to the economics in a science.
For drive a car, you don´t need know how works a combustion engine, that is to say; don’t need know of physical, mathematics, Materials engineering, Thermodynamic and aerodynamic for drive a car. The same way, for have successful in the business, and the finances don´t need know what the money is.
But we are talk about of a very important subject, given that we dedicate our lives to the money, we give 15 years of our youth studying for go out to win money in the society, we work for money, we give blood and tears for money; and WE DON´T KNOW WHAT MONEY IS!. If we want be free, taking the control to our destiny, we should strive for learn what the money is.
To ignore this subject is the source of our slavery, and is so catastrophic, that we can see in the history, as a lots of famous economics theorists that influenced to millions of peoples, as Karl Max, NEITHER THEY KNEW. And were the cause of the death of millions of people, given that they didn´t know the cause of the problem but know the consequences, pointing mistakenly to a social class wars, attacking the consequence but not the cause. Fulfilled the popular expression, “the ignorance is the greatest source of destruction”
What is Money?
First let’s look at this friendly video.
The first 15 minutes are sufficient.
From the video we learn that, The money is DEBT, and born when request a loan, the same way the money will be destroyed when is pay the loan, in general the process to created money of nothing isn’t a problem. The problem present itself when the banks charge interest for a money that they never had.
The financial system it´s the only one economic sector, with this quality, of the lend out something which in principle doesn´t have. Look, if you had a rental car business, you should have this cars for rental them. But it´s doesn´t like this with the banks, and it´s totally accepted, supervised and defended by governments.
We clarify that we aren´t blaming anyone, either believe in conspiracies, just that the system financial came out like this. A thing we wants, is that the reader can note the necessity of a system financial designed to our times, to our reality, and don´t simply keep doing that things as we do it, given that always we doing it like that. Without thinking, without analyzing, without design it.
If this revelation about money it’s seems that isn’t true, and as a lot persons, you doubt to the credibility about the last video, (doubting is good, given that is important that you learn to get the knowledge, and not simply swallow what we say to you), then I invite to you to reading it for yourself, in this article from the Central Bank of England.
Exist five form to creation of the money, by order to importance:
- The principal is the we already learned, that is borrow to a bank.
- When the governments have budgetary deficiencies as Venezuela, United States and Europe. Venezuela borrow to another countries Issuing debt bonds. Unites States issues treasury bills.
- Another mechanism to the governments with budgetary deficiencies, is devalue the local currency in comparation with the international reserve currency (the American dollar). Example: Venezuela that receive the same quantity of dollars by the petroleum exportation, devalue for get more bolivars. This mechanism is very danger, given that create distrust in the local currency, – the bolivar -, and this distrust lead to rejection to the commercials transactions in bolivars, which translates in the end in inflation of the bolivar.
- When a country export more than it imports, as China, which have billions of dollars in your reserves.
- The least important is the coin paper impression by the state, given that money is digital in 97%, an only the 3% is paper.
Let’s see our next video.
Of this video, we learn there are two types of money.
The money we know today is called “fiat money” or more technically “currency”, which is “legal tender”, and with it we refer to the Bolivars, Dollars, Euros, Pounds, Shekel, Yuan, Yen, etc. . The “currency” have the following characteristics:
- Exchange medium.
- Accounting unit.
- Fungible: this means that a “Dollar” is identical to another “Dollar”.
The money originally had an additional feature.
7. Store of value: that is the existence of an intrinsic value, like gold and silver.
Although a lot believe this “currency” are backed with gold in the central banks, this was true at beginning of the last century, but to since 1970, aren´t anymore backed for gold, although the central banks have gold, is an insignificant quantity compared with the quantity of “currency” issued.
It´s understood that money today, don´t have any value for itself, is inorganic by definition, given that only are numbers written in a computer. It´s noteworthy that it´s documented in history, that all coins of type “currency”, FIAT money (legal tender) End up being worth your intrinsic value, that is to say end up being worth “0”, nothing. Example, the American dollar has lost 95% of your value since 1913 to 2014, while the gold and silver, have maintain their value since the existence itself of money, that was valued in ancient Egypt, and is valued today too.
Purpose of Money
Of the video we learn that money, since the point of view historic, is a technology development, an invention of human being for facilitated the exchanges of goods and services. At beginning it was use bartering, but this mechanism result to be cumbersome, instead the using money facilitated the exchanges between humans being. We note that invention of money, don´t eliminate the using of barter, given that we all keep doing it, with familiars and friends. And also we understand that the proposal of to let using money and come back to barter, it´s ignore of the barter limitations, and the history who drove to the invention of money.
Although the money loose the absolutist importance that have in the actual society. That is to say, leave being the only unit of measurement for all the society. Will never cease to have utility, given that also is a countable unity, and therefore allow us measure and control this exchange technology.
The value intrinsic of the FIAT money, (Dollar, Euro, Peso, Bolivar, etc.) is cero, given that they are just numbers in a computer, or a simple paper printed with a color drawings. This is the reason whit the value of money fluctuates day to day, given that your value is a external perception, and not a intrinsic value.
And this is precisely a big head pain for the economists, given that a lot times they are contracted for they calculate the value of complex elements, as for example in countries with a lot violence ¿How much cost the lost for homicide of the a citizen?, the economists what they do is simply divide the complex element in simples elements, use statistical techniques, and consult the value in the marked of that simple element.
Getting at the end an amount in FIAT money. Thing which lacks to a lot sense, given that the FIAT money don´t have value. The lack of the real fundament of money, is a serious failure from the all world economics systems, given that they are based on FIAT money.
The true value of money, that one that must be, it´s the time and effort that we are willing to give for an amount of money. This, if it´s a real fundament, with which we can sustain the calculation of the value of complex elements, and the results therefore, have an authentic significate. Example, a thing it´s say that each citizen murdered are be 100.000 dollars lost, which is very superficial, this means a murdered citizen represent 20 years work lost.
What is inflation?
The inflation is the taxes that we pay as citizens, due to the wrong administration of money by the government. Of the last video be learn the inflation according the theory is produced by money expansion. Here the reader can do itself the question. If United States print money more which any other countries of the word, so ¿How is possible that inflation in dollars is just el 0.8% in the 2016?.
Instead, in Venezuela in 2016, a country whit a debt per citizen 50 times lower than USA, have a inflation 100 times most bigger. This is the difference between the theorist inflation and the real inflation. The real inflation is a rejection by citizens to save money in that currency. The Venezuelans discard your currency as mechanism to saving, and save in dollars, which makes that exist a real inflation in the local currency.
The Americans saving in dollars, and the Europeans saving in euro. Let´s understand this: The money, is a legal monopoly, forced by the government over the citizens through the courts.
This paradox of the theorist inflation which doesn’t materialize, also it´s explicated in the previous video, the dollar for be the currency to the world reserve, first exports inflation to every countries and on the final phase of dollar, he returns inflation to the country that exports it.
The theorist inflation will become real, when exist a currency that really true compete whit the dollar, euro, etc. That is to say, when the common citizen discard the dollar as a mechanism to save. (This is the rezone by which experiments as Bitcoin has taken big value although don´t have any intrinsic value, neither be equitable, just like the FIAT coins)
This will be the end of dollar, that we are see in the future, maybe in 10, 20, o 30years. And it isn´t that we wish him bad, all the contrary, the dollar´s end entails to the end of the others FIAT currencies, which will be a disaster for the all world. We wants is anticipate the events and if possible to prepare us for a comfortable transition to a new system financial that benefit to all world.
Note: if is wish deeping in this topic, then investigate this: by definition the enterprises qualifiers of risk: Moody, Fitch, Standard and Poor, qualify the american´s bonus as AAA by definition, without do some evaluation, given that USA always will can pay your bonus in dollars, given that USA make the dollars, and therefore they will never leave to pay in dollars.
Which is obviously a disadvantage for the other countries of the world, given that the other countries, if are evaluated by the risk qualifiers, if they havest that produced goods and services for get dollars, given that they cant print them they itself.
The USA money created out of nothing, is constantly updated on this page, http://www.usdebtclock.org/
The Worgl experiment
There was produced in the decade of 1930 in the municipality of Worgl in Germany, was the most successful monetary experiment of all history. When all the rest of Germany and Europe was immersed into depression and unemployment in Worgl, there was employment and abundance. They called it “the miracle of worgl”.
This monetary experiment died, not of failure, but of success. Given that, was impeded legally, being penalized by pressure from central banks. They saw in this experiment the end of their power over the people and therefore of their capacity of slavery of the people by the monetary system of debt.
The key to the success of this money is that money changed rapidly from hand (high speed of circulating money), having a monthly depreciation (negative interest, this or not deposited), which makes a lot of sense (an idea by Silvio Gesell, 1989).
If everything in the material world deteriorates or costs to keep it as gold. Don’t should also money lose its value over time? This failure of design in the monetary system is what makes it preferable to save money, which to save by accumulating material things, which leads to stagnation of money, non-circulation of money, and deterioration of the economic system.
You can read more here.
Once have covered the fundamental topic of money, we can talk about the additional constructions that are made about money, such as economics and finance.
When we talk about economy, we are talking about operations that are carried out by human beings, about a technology that does not exist in nature, called “money”, therefore to talk about economics it is necessary to talk about the human being.
The human being is selfish by nature, and his altruism exists when his basic needs have been satisfied.
That is why the following laws of economics are selfish, and are the product of scientific observation of human nature. Given that the study of economics, is for achieve efficiency, knowing on the one hand how do I earn the most money with the least effort ?, maximize the gain. And on the other hand, how do I pay as little as possible for the product I want ?, minimize investment.
Now we are going to talk about the real economy, and how it is related to what economists teach in universities, which is part of truth and part of a lie. The lie is because they are in part theoretical imaginaries, without verifiable bases, without scientific bases.
The real economy, has two fundamental laws, studying them allows us to understand the economy to achieve the efficiency we want, avoiding basic errors.
Law of Gain, There is no work without expecting gain. For people to work there has to be a motivation that drives it. Put another way, no one works to lose money, nor will he work doing something where can to lose, that is, the entrepreneur will try to secure his profit even in the worst case. This law can also be written in a negative way, Potential loss, discourages work. This we can see with the fines, a fine for high speed, given that it limits that people run in the freeways and streets. It is important to note that when we refer to gain or loss, this can be “non-monetary”, example gain or loss of honor, recognition, qualification.
From this law generates the axiom: “every opportunity for profit will tend to be realized”. Its inevitable that someone takes advantage of an opportunity for profit. For example, if you can buy oil at 10 and you get who pays 50 for this oil, then that chance to win 40 will be made by someone. Another example, if you have a company in France, Italy or Germany (30% tax), and you want to increase your profits by paying less taxes, then change the management of your company to Switzerland (20% tax), that way you will pay Less taxes, maintaining its customers in France Italy or Germany. The same goes for drugs, as long as there is an opportunity to make money in the illicit drug business, there will be someone who makes that profit, so the fight against drugs has been a resounding failure worldwide.
Using this law, we can encourage or restrict any type of activity by giving the opportunity for gain or loss, whether real or potential.
The Competition Law, the engine of development is competition. To get the lowest price and / or the highest quality is needed competition, the entrepreneurial freedom. It can also be expressed negatively, a monopolized market generates high prices and / or low quality, which is precisely the case of Venezuela.
With entrepreneurial freedom, we refer which the barriers, the necessary requirements for a new company to enter to produce in a market, be the lowest possible. For example, in order for the price of letter-size paper be the lowest possible, then all bureaucratic procedures, permissiveness, access to capital, getting qualified personnel, must be the minimum. The motivation of gain of producing paper letter, with minimum barriers to market entry, makes that the entrepreneurs be motivated to do that business, this promotes competition, the struggle for customer preference and lower prices. The only war that favors the citizens is the war of price and quality.
Competition, entrepreneurial freedom, is implemented through the definition of standards, created openly by the State, private economic sectors and civil society. In this way the requirements to enter a market are clear, well defined and with minimized risks. The standards should also include the measurement of the performance of the economic sector where it is applied (in this measurement the state, private companies and civil society must also participate).
Well-understood competition is cooperative, given that the benefit of competition, that is to say low prices and / or high quality, benefits society, and we are all parts of society. The benefit of society is the benefit of the individual.
Life Cycle of Products and Services
It´s what is studied in university economics, relative to the products have a life cycle. The sale of a product varies, according to the product is given to know in the market. This cycle is described by a curve, and there are well-studied standard curves.
Relationship Price – Demand
It is what is studied in university economics relative to the price of the products and their demand. For determine the appropriate price strategy to the product.
As we said before, the problem to be solved is how to maximize the gain?. Will it be, lowering prices? So that although I earn less per unit, producing a lot, my profit will be higher. Or will the perceived value of the product be increasing? Will not the market care about the price? If so, they will buy the product even if I sell them expensive, (this is what brands do).
This quest to maximize gain, without regard to of natural and social impact. It was what led to the development of planned obsolescence. That is the strategy of selling the same product several times, using as an excuse a defective design that tends to be damaged, to force the purchase of the same product again.
Another technique is fashion, which forces the replacement of functional articles, just because it is not fashionable with the current trend. Both techniques, waste material resources, money and time.
The Free Market
This is a very important point, and many famous economists based their ideas on the existence of the “invisible hand of the market”, where they assumed that everything worked perfectly, and everything balanced and equilibrated, without the need for regulatory intervention by the State.
Ignoring reality, we are dealing with human actions, which are selfish by nature, and that when they can manipulate the market rules in their favor, they will do so, and history is replete with examples of market manipulation, the more brazen, and the manipulation of the important libor rate.
Banking is fined 2.5 billion dollars due manipulate, and if you think it is an isolated case, read in the Wall Street Journal, the fine to global banks by 5 billion, “the gang”. (Although the fine seems high, it is little considering the billions, winning by manipulation. Steal 10 and pays 1 is accepted for certain entrepreneurs, why?).
Thanks to the concrete definition of the two fundamental laws of the economy, we can treat the “market” issue, as a product of the fulfillment of these two laws. Therefore, it is now possible to measure how “free” is a “market” depending on whether both the fundamental laws are fulfilled.
Finance studies the reality that money has a value that varies over time, and therefore must be managed efficiently.
The main equation is very simple: D = C + I
D = money or debt, C = Capital, I = interest.
This equation really is not so simple, since it mixes the future with the present. D belongs to the future and C belongs to the present, this mixture of future and present, is the basis for making a whole series of bets, as we will see in the stock exchange issue.
The study of finances, is to plan a series of income and expenses distributed over time, ultimately obtaining a real gain. At the end of the financial study time, the gain is calculated, this gain must be greater than “I” in the above-described equation.
Understanding this simple equation, allows explaining financial crises, financial bubbles, since there is only “C”, and “D” is a future value, at the moment when the obligation to pay “I” expires. And since there is only “C”, then it means that to pay “D”, you must continually bring money from the future, that is, you must borrow continuously.
In an endless process, that is to say we are talking about the world financial system, is a Ponzi pyramid type, that is why the GDP of a country must always be positive. Since if GDP is not positive, then there is not enough money brought from the future to pay “I”, then there is bankruptcy due to lack of payment, and if it is general is a financial crisis.
That simple equation, and its partial understanding, is what allowed Karl Marx to predict the problems of capitalism, although Marx failed monumentally, not being able to fully understand it, what is money ?, which as we have explained is a fundamental element, if we want to talk seriously about economic systems and finances.
That is why Marxism proved to be a failure, and its hypotheses were never fulfilled, because it was ill-designed, and Marxism only serves as an excuse to unleash the inner evil of the human being, his egoism, expressed in his ideas of class struggle.
Instead of seeing a diversity of humans that complement each other in their actions. Marx fueled the negative, cave-like tendency of the struggle between human beings.
Let us clarify, we are not justifying the current system, we are only describing the source of its flaws, obviously this is a defective system by design, and there are only two solutions plus their mixtures:
1.- That debts are forgiven every certain cycle, as it existed in antiquity, and is even documented in the bible under the name of jubilee, the system of forgiveness of debts every 50 years. And if the dear reader, he asks, if that solution was successfully applied in the past, why not apply now? The answer is that in the past kings dominated and now dominate those who have control of money, are the bankers.
2.- The continuous injection of additional money into the system, that is why we see desperate measures to increase consumption, such as the injections of 250 billion dollars per month made by global central banks. This amount is equivalent to paying food to all humans on the planet.
Negative interest rates for banks in the US, Japan and Europe (negative rates exclusive to the banking elite, the common citizen have positive interest rates), massive immigration of undocumented workers in Europe, and the drums of war around the world.
Deep down, humanity is going through a turning point where it must decide what its values are, what its purpose is. And there is a strong current, which is determined to impose the money, as the only value and purpose of the human being, if you are interested read more here.
2.A- The injection of money equally for all, formally proposed by the engineer converted to economist, C.H. Douglas in 1920. In his writing the “Social Credit”, where he justifies this injection of money, as a social dividend, product of the country’s cultural heritage.
And he based it mathematically, to developing “A + B Theorem”: If there is only the money that companies pay in salaries and supplies, then there is not enough money to buy all the products that the companies make.
The root of this is that companies are mechanisms of multiplication of money, capital, but are not the source of money, since the source of money is mainly the loans granted by banks.
2.B- This injection of money equally for all can have an additional source: depreciate all the money (not only the money saved), and the distribution of this depreciation through public works or a universal minimum income. (This option is based on Worgl’s successful monetary experiment of 1930)
How to apply solution 1, it is complicated, and before the reality of the displacement of the human work by the automation, every day takes more force the solution 2.A, under the name of Minimum Universal Income. For us, the best option is 2.B since it reduces the problem of potential inflation.
This is where everything becomes opaque, unreal, and unserious. Did you know that in the economic models of countries, the model used by the government and its ministers of finance to make decisions, there are no banks?!
That is why they are not serious. (It must be that money grows in trees, trees give loans and charge me interest).
Although there are hundreds of thousands of economists around the world, only about 8 economists were able to foresee the financial crisis of 2008. Of course, they do not teach them the fundamentals of money, nor do they teach them how to put banks in the economics models, therefore it is understood that they are not able to predict real life events.
The unreal is that we leave in the hands of these economists, the power to make decisions as important, as it´s, our financial future as citizens.
Here, I recommend reading the economics professor, Steve Keen, author of Debunking Economics, the professor is a member of that select club of eight economists who foresaw the crisis of 2008. Besides us, we have seen our friend professor Steve Keen, in the development of unique software simulation of dynamic economic models, Minsky System Dynamics for Economics.
To make this more fun part, see the following documentary.
Here we will learn how the world financial system works, and its relationship with the banking system of money creation that we saw in the first documentary.
The financial system of each country is basically a copy of the model we see in the video, with the important difference that the central bank of each country buys US debt bonds, given that the financial system is centralized in the Reserve Federal of United States, as the video says, The Federal Reserve is a conglomerate of private financial firms and does not belong to the US government.
If the astute reader, he asks: because nobody has unmasked the financial fraud of the banking? The answer can be obtained from the study of Robert Kiyosaki’s money quadrant, and we understand that investors, capitalists, bankers, are a highly interconnected group
In other words, they work like a mafia, where everyone covers each other. And as Robert Kiyosaki points out, the employees and the self-employed, ordinary citizens, work individually.
The Stock Market.
The stock market was developed with the purpose of allowing access to money to expanding companies, companies sell participation in their profits by selling shares to new investors, they obtain a profit as the company expands, the company sells more and shares Its profits with new investors, and if the company loses then investors also lose. So far, everything good, everything beautiful and nothing wrong with it.
But at exist it, companies stock, people realized that they could play the bets with the value of the shares, and they formalized mechanisms to make these bets. So, in the stock market, you can bet that the price of a stock will go up “long”, and if it goes up you make money or lose money.
You can also bet on the contrary, that the price of a stock will lower “short”, and many other bets more. Complicating a process, initially simple, throughout a complex system of betting and casino.
The Economy in the XXI Century
Having developed the above themes, we can talk about the characteristics of the economy in this XXI century, 20XX, which is an economy totally different from the economy of 19XX, which is the economy we know.
The old economy was that of the industrial age, dominated by large mechanized enterprises and many small businesses. Now big companies are not only mechanized with all types of machinery, but also robotized and are getting rid of 90% of the staff.
For example, China, which is the world’s largest factory of all kinds of products, is investing about 150 billion dollars in 2016. In other words, if there was unemployment before, now there will be more unemployment.
It´s naive for not to say silly, to expect that some kind of legislation will solve a purely economic problem, product of scientific progress, as it is, that there are no cheaper workers than robots. So if any politician proposes a solution as an “employment” law, in the best case the politician is showing ignorance.
Knowing that one of the 7 main jobs worldwide, is to be a driver, imagine the unemployment that will occur when in the following years, cars and trucks are driven alone, without driver.
And the old small businesses and large retail chains are being replaced by large internet retailers, offering the same products at low prices, because their operating costs are much lower and scale is higher. That is to say the jobs in the commerce are being diminished remarkably.
Internet companies as they have lower costs for not paying physical premises (in addition to the possibility of not paying taxes using tax havens), and having their competition just a click away, to remain relevant in the market, are obliged to Offer lower prices and better customer service (complying with the second law of the economy).
Which is generally good for citizens (except legal tax evasions). In addition, as there are no natural geographical boundaries, competition is global, from all to all, leading to profit margins as low as 3% -amazon-, and the tendency is for these companies to consolidate globally in few hands.
Jobs in the new economy, tend to be seasonal, instead of schedules and time fixed , as expressed in this article. This is because the work is now done by machines, which have added basic intelligence, through the use of computers (that is the definition of an industrial robot).
And not only that the new economy leaves a large majority of workers unemployed, but also threatens to unburden managers, as you can read in another article.
The Crowds are Connect
With the advent of the Internet at home, crowds of citizens are now connected and exchanging information. This has given rise to a new type of human organizations, which do work, with hundreds or thousands of people. This is changing the way we produce and interrelate in society.
We have sites where work is divided into small tasks, which are done at the same time by hundreds or thousands of people around the world, such as amazon mechanical Tork. Allowing jobs that require human participation, be performed with quality and in a very short time.
And these companies exist for almost everything from companies where many with small money contributions, they fund millionaire ideas of entrepreneurs, such kickstarter, or where many work on a particular need for graphic design, as 99designs, and this expands to almost everything: translation, drafting legal documents, etc.
It´s very interesting the case of patreon
where multitudes are committed to a small monthly contribution, to guarantee the salary of a person or group, his creative, favorite artist. Both sides enjoy, some doing what they like and others enjoying their work done.
The same is happening with education and knowledge transfer, millions of people upload Youtube videos explaining all kinds of work and training, from repairs to sinks, to advanced programming techniques. Khan Academy with free master classes at any time. And there are places where anyone with knowledge, can teach crowds as Udemy.
Crowds are changing our old perception that crowds are silly, and are leading us to the practice of the “Intelligence of the crowd”, Where a group of people, who before the politicians consider “the people”, a little educated and manipulable crowd, now become “citizens” workers of knowledge.
That they are far more effective, intelligent and quick, than any particular individual, leaving in obsolescence the traditional idea of the need of the great know-it-all leader, now “the multitude” is our great leader, intelligent and know-it-all.
The economy of the 21st century, finally brings the dream of liberating the human being from the slavery of work. The serious problem is that human society is still functioning based on the economic model of the 1800s, which worked well in the last century but no longer works.
The good news is that we have designed a new economic model, which allows us to enjoy freedom, lacking the most important, Implement it.
I apologize for not explaining many things, and for skipping many details. I hope that I have fulfilled the purpose of giving a general idea of what money, economics and finances are, and that this, encourages them to overcome slavery to the system, and to take the reins of their financial freedom, which is a necessary foundation, In order to open up human potential and express our real freedom, freedom of thought and action, which we are destined to achieve.
With this authentic freedom, we can fulfill the purpose with which nature has created us: To be the guardians of life on the planet.