In Collateral we Trust

It’s been years.

I asked a wise man once, what collateral meant. Patiently, and in his own inimitable style he explained the meaning of that word. I had some follow-up, what-if questions, which were more to confirm what I understood, than pure questions themselves. His answers confirmed that I had understood collateral correctly. Apparently, learning Computer Science is useless if you do not learn where to use it; we had to, therefore learn something called “Commercial Applications” – Banking, Accounting, Finance, Ratios, and related boring (but money-making) stuff. That’s about college; I usually tend to remember other, interesting, college stuff.

Bound: Original

In the following years, I heard the word trust many times. In different contexts: love, family, friends, organisational structures (See Business & Legal), and of course as simple day-to-day use of trusty-phrases. Much later, (as a young, ambitious — and obviously foolish — man) I went to a bank and asked for a loan to start a business. I have to admit, I loved the attention when they knew I had come for a loan, though that delight was short-lived. I had no collateral to give and therefore they had no money to give. But that’s how banks operate, and without any grudge, I found other (legal) means to start my business. And it was good for a while, which is another story.

But it is not just about banks (and their business model is to trust only in lieu of collateral) – this transactional trust tradition has become a part of our everyday lives. The forms have changed; the nature has not. The presentation has become sweeter, the legal document has not. But, there’s more to trust, than that. Trust is not a street-kid that you adopt out of sympathy; but sense it, acknowledge it, and embrace it.

In the times we live in, your future is the new collateral. One might say, that’s fine. Hedge, I think is the word. (But I may be completely wrong, because “Commercial Applications” wasn’t my favourite subject.) And I may even agree, if it was just that; just the unknown future; a random bastard value, legitimised by sheets and sheets of non-native numbers and foreign formulas. But I don’t agree, because, essentially, it is not just the future which is in lien; a slice of your present, is also to be surrendered: for that possible future. [Fun activity: look for the etymological roots of the word lien and ligament.]

Here and now, she said, here and now. You are slashing your supreme sword at empty shadows that have long been sent skywards in the pyres of the past. At the same time you are nitpicking on details that you know not how will unfold; entitling it grandiose: opportunity and strategy. Be with me? In these war games that are long dead and the chess games that haven’t begun, I see you nowhere. You are behind me or ahead; but not with me. [Dramatical abstraction of an otherwise simple, straightforward conversation]

Commitment considers not cost, neither collateral. Nor does Passion. Experience is the evolved cousin of commitment and passion; perhaps the most arrogant of the three — but is rooted in certainty and reality. And all the wealth that Kubera hoards; cannot stand collateral for these three cousins. All three cousins are here and now. They have no sense of the future. But they are faceless intangibles seeking a presence within noxious numbers and random ratios.

You and I, distant cousins of these three; once removed, perhaps twice removed, know them very well. They are almost us. And so we say, No! No, sir. We have nothing tangible to deposit in those vaults of yours, what we have, cannot be stored or locked behind those steel doors. For they are formless and beyond being bound.

But, if it is to be a market, in spite of all, we walk with swords ready to be unsheathed, that have value inscribed across the blade.

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