The Queen has many servants and others working for her providing her with everything she needs and much much more. Her huge buildings and land need looking after. She has animals and possessions to look after. She needs food, and clothing. If you add up what is required from others to keep the Queen going, it must be huge. And what does she give back to everyone that gives to her?
She gives them bits of paper. Maybe she says ” Instead of giving you something in return, I will print off bits of paper for you as IOU’s. They will all have a picture of me on them, so you know that they are valid, because I am the Queen and I am honourable”. She most owe a lot!
Then the people who have these bits of paper with the Queen’s Head on, they sort of know deep down they will never get anything in return from the Queen, even though she is the Queen and therefore trustworthy and honourable. But then they realise they can do the same thing! So they get people to do stuff for them, and give them stuff, and in return they give them the bits of paper. Everyone is really quite happy with this because they all see the Queen’s Head and they know that this is good.
And so it goes on. The bits of paper go round and round, and down and down the pyramid. It all relies on us believing in the bits of paper, and thinking that the Queen is good, honourable and trustworthy. So it is important that we all worship the Queen to sustain the system. We do that because every day we carry around many copies of the Queen’s Head on bits of paper and lumps of metal in our bags or pockets. Every day we give the Queen our attention and focus. And from time to time a good Royal event reminds us that she is good and honourable and trustworthy.
We are caught in a little trap. Because nearly all of us use money. I don’t have much or want much, but I also know that I am not at the bottom of the pyramid. I can buy more with my money than I give to get the money.
I don’t think the Queen will ever pay off her debt. She owes so much. If she chose, she could give away all her land and buildings and possessions, downsize a bit. And maybe she would start a trend, because we have a tendency as humans to do to others what is done to us.
So the Queen’s Head represents the Queen’s Debt. She is not the wealthiest in the world. She is the most indebted. She owes big time.
(See also: The Gift Economy, The Cost of Money, The Jubilee)