"And was called 'revalidation' or, if you’d run out of currency (which was now called ‘recency’), ‘renewal’."
Sorry, but you have got the definition of "currency" wrong. Under the new rules we may all run out of "currency," £ s d that is, because we will have given it all to pay for this nonsense.
If I borrow a book from the library, because I'm a goody-goody I go back and renew it before time is up, so why did "they" decide that a perfectly simple word should mean something different in aviation.