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Economy and currency: Money as a tool for the people, not the bankers' property
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Rethinking Money as a Force for Equity

Rethinking Money as a Force for Equity | Money News | Scoop.it

Money has become concentrated in very few hands. Now some experts are considering that money itself may be part of the problem. 

 

Commerce Without Money

For Thomas Greco, the rest of us lost the money game from the very start, or close to the start, when elected officials decided there would be only one form of money, and that access to it would be mostly controlled by a relatively small group of powerful institutions: banks.

 

Greco came to view the Federal Reserve and the banking industry as effectively a cartel that unjustly and unnecessarily charges interest for the right to access money in the form of credit. 

 

“That’s the fundamental flaw in the system, having a centralized banking cartel that is able to control money as credit,” Greco says. 

 

Greco envisions a highly evolved, regional, “multilateral barter system,” that doesn’t depend on a buyer and seller each needing to have something the other wants to exchange to conduct a transaction. That’s because the multitude of credit exchanges with other parties would allow for everyone’s accounts to reconcile at the end of the day without having to actually exchange money.

 

“We want moneyless exchange to go viral,” Greco says.

Find the whole article here: 

https://www.yesmagazine.org/economy/2021/08/10/money-equity-policy 

Sepp Hasslberger's insight:

Moving towards a system where bank money isn't the only game in town. We have the power to "give each other credit", just like the banks do, except no one pays interest and no one is beholden to the bank for the rest of their lives. 

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Satoshi Nakamoto and the Fate of our Planet

Satoshi Nakamoto and the Fate of our Planet | Money News | Scoop.it

On the thermodynamics of Bitcoin, Dogecoin, Ethereum, and Holochain 

 

... determining blockchain’s real ecological cost is not simple. Some argue that kilowatts per transaction is the wrong equation. Others claim that roughly three quarters of the electricity used to mine blocks comes from renewable sources (though still others say it’s more like 40%, and most of the remaining power comes from coal and natural gas). Finally, proponents claim that cryptocurrency drives adoption of renewables and might be a lot greener than the global banking system.

 

But as blockchains become more popular and their tokens increase in value, more miners get in on the game, increasing the total electricity consumption. Even if you use the more favourable figures, with non-renewables accounting for only 25%, 25% of a lot will still be a lot

 

Public blockchains consume so much electricity because they have a lot of entropy to deal with. In thermodynamics, entropy is noise, waste, meaninglessness. The problem blockchain is trying to solve — dishonest agents trying to corrupt the global ledger — certainly fits that description. 

 

Any time you have too much entropy, you’re going to need to spend a lot of energy moving it somewhere else. My hot take: Bitcoin is basically converting dishonesty into CO₂. It’s simple physics...

 

The whole article is here: 

https://blog.holochain.org/satoshi-nakamoto-and-the-fate-of-our-planet-2/ 

Sepp Hasslberger's insight:

Apart from being user-unfriendly as hell, currencies that run on the blockchain are energy hogs. Is there a way around this?  Paul d'Aoust says that yes, many of the things to be done on the blockchain do not need the absolute consensus of a trustless system ...  and he describes one that goes about it in a different way. 

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Money is King

Money is King | Money News | Scoop.it

He who creates the money is the sovereign.

 

This was true throughout history, from the times when humans first started mining for gold on the African continent to the times of kings and warlords. The coinage of money – and in those times it was mainly precious metals – was a royal privilege … until we got industry and banking. 

 

The Royals lost their best asset, the power to create money, to the banks. Even in the United States, where the power to create money was initially given to Congress, the bankers succeeded, with the 1913 Federal Reserve Act, to make the banks the ultimate arbiter of money creation …

 

Direct link to article: 

 

http://www.hasslberger.com/economy/money-is-king/ 

Sepp Hasslberger's insight:

Sovereign power is in the hands of those who issue money. Can we issue our own money? This article explains how. 

ljorgehernani@gmail.com's curator insight, March 15, 10:54 PM

la Educación a Distancia y la Educación Virtual, se produce como una necesidad inmediata en esto momentos de pandemia donde la enseñanza presencial se convierte en una enseñanza virtual, aprovechando los avances que las Nuevas Tecnologías ofrecen al campo educativo. Por tanto debemos aprender las herramientas básicas para aplicar en la enseñanza aprendizaje y poder innovar a las herramientas como sigue: padlet, jamboard, scrative, Google classrom, genially, classcraft, kahoot, etc.  

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No democracy when government has the money power

No democracy when government has the money power | Money News | Scoop.it

Once we realize that money is credit, and that it is in our power to give or withhold it, we can take back control of the exchange process and our government.

- Thomas Greco

 

Think for a moment about the basic necessities of life. One can live only a few minutes without air, a few days without water, and a few weeks without food. We also need shelter from the heat and cold, from rain and snow and sun. We need energy–gas, oil, electricity–to warm us when the weather is cold and to cool us when it is hot, to help us do our work and enable us to move about­. 

 

And how do we acquire those things? Air is still freely available, although it may not always be clean or healthy to breathe. Water is increasingly not free, even if we draw it from the kitchen faucet, and all of those other necessities, we depend upon others to provide. But at every turn there is someone with an outstretched hand saying, “Pay me.” The point is that there is another element that we are utterly dependent upon–MONEY! 

 

Find the whole article here... 
https://beyondmoney.net/2020/11/28/no-democracy-when-government-has-the-money-power/ 

Sepp Hasslberger's insight:

"Once we realize that money is credit, and that it is in our power to give or withhold it, we can take back control of the exchange process and our government."

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Addicted to feeding the insatiable beast? - Betty Lim

Addicted to feeding the insatiable beast? - Betty Lim | Money News | Scoop.it

Gabor Maté defines addiction as: “any behavior — not necessarily just drug use — that individuals cannot stop doing, despite harmful consequences, because it provides them with some relief or pleasure.” 

 

Is it human nature to be competitive, aggressive and selfish? Or is such toxic and unnatural behavior largely molded by the Operating System (OS) we’re in, which makes us addicted to giving ourselves and our value away to corporate persons (especially Big Business) with no greater god than growth? 

 

Paul Krugman’s The Self Organizing Economy may shed light on how we are increasingly addicted to creating cities and business cycles that consistently place profit and power maximizing corporate persons over humans and human well-being.

 

- - - - 

 

75 years after the Bretton Woods institutions came into being, many people today still do not have access to the most fundamental basic needs outlined by Abraham Maslow: air, water, food, shelter, sleep, clothing, reproduction, personal security, employment, resources, health and property.


Instead, we live an invisible social contract that revolves around how the globalization of fiat currencies has enabled corporate behemoths beholden only to their owners to legally control access to most everything we need to survive...

 

- - - - 

 

Has our collective self-preservation efforts (wants/job/etc.) been hijacked by corporate persons to have us co-create the rent-seeking OS we live in? If so, hasn’t money programmed us to keep feeding ourselves to the insatiable beast?

 

To read the whole article, follow the headline, or this link here...

https://medium.com/@crowdpowers/addicted-to-feeding-the-insatiable-beast-b188af1a7a1b 

Sepp Hasslberger's insight:

What is it that keeps us addicted to a system that is clearly designed to suck us dry? Betty Lim is trying to tease out the answers to this question. 

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The Missing Money

The Missing Money | Money News | Scoop.it
$21 Trillion dollars is missing from the US government. That is $65,000 per person - as much as the national debt!

What's going on? Where is the money? How could this happen? How much has really gone missing? What would happen if a corporation failed to pass an audit like this? Or a taxpayer? 

 

This means the Fed and their member banks are transacting government money outside the law. So are the corporate contractors that run the payment systems. So are the Wall Street firms who are selling government securities without full disclosure. Would your banks continue to handle your bank account if you behaved like this? Would your investors continue to buy your securities if you behaved like this? Would your accountant be silent? 

 

This is the reason that there is such a strong push to change or tear up the US Constitution. This is why members of the establishment say it is "old," "outdated!" This is why there is such a push for gun control. Don't buy it! We can use the Constitution to get our money and our government back. It is time to enforce the US Constitution.

 

See also this important video interview of Catherine Austin Fitts with James Corbett...

Secret money for secret programs and secret armies... 

 

https://www.youtube.com/watch?v=J1tiGArOpZI 

Sepp Hasslberger's insight:

Where is all the money going ... secret money for secret programs and secret armies. Trillions are being siphoned off from the economy for such uses. 

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A "Global Hope Plan" to End the Worldwide Financial Crisis - Global ResearchGlobal Research - Centre for Research on Globalization

A "Global Hope Plan" to End the Worldwide Financial Crisis - Global ResearchGlobal Research - Centre for Research on Globalization | Money News | Scoop.it

The existing world financial system is a total fraud – one gargantuan Ponzi scheme. This Ponzi scheme is alarmingly simple. The banks lend the same money to several people or institutions at the same time and collect interest on it from each. What the banks really lend, however, is their credit, and what they take back in compensation for that privilege is debt that must be repaid with interest. 

 

The system works this way. Suppose that you want to borrow $35,000 to buy a new car. You visit your friendly banker and ask for a loan. He or she will ask you for collateral – some stocks, bonds, a second mortgage on your house or cottage or, if you are unable to supply any of these, the co-signature of a well-to-do friend or relative.

When the collateral requirement is satisfied you will be asked to sign a note for the principal amount with an agreed rate of interest. 

 

When the paperwork is complete, and the note signed, your banker will make an entry on the bank’s computer and, presto, a $35,000 credit will appear in your account which you can use to buy your car. The important point is that seconds earlier that “money” did not exist. It was created out of thin air – so to speak. 

 

The banking equation is a kind of double-entry bookkeeping where your note becomes an asset on the bank’s books, and the new money that was deposited to your account is a liability. The profit for the bank comes from the difference between the low rate of interest, if any, you would be paid on your deposit if you didn’t spend the borrowed money immediately, and the much higher rate you would be obliged to pay on your note – the technical term is “the spread.” 

 

At some point, however, you have to pay off your note, and any interest owing. And not only you, but everyone else who has borrowed “money” from banks – including governments. Anyone who defaults is in big trouble. Individuals who default will have the assets they pledged as collateral seized by the bank. A government that is in danger of defaulting, may be forced to borrow from the International Monetary Fund, which will then tell that government how to run its affairs including cutting back on services and selling off public assets to the international vulture capitalists. 

 

In reality, then, the banks have turned the world into one humongous pawn shop. You hock your stocks, bonds, house, business, rich mother-in-law or country and the bank(s) will give you a loan based on the value of the collateral.

Sepp Hasslberger's insight:

This is not a new piece, but Paul Hellyer explains the crux of how our monetary situation is a complete scam - the whole economy is held hostage by the banks who create and loan us our money...

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Seven ideas for the G7

Seven ideas for the G7 | Money News | Scoop.it


The gathering of world leaders in France this week offers an opportunity to address the existential issues of our time.

 

Within many of the G7 countries, affluence is not breeding happy and healthy societies but lonely and anxious ones. The global balance of power is shifting from nation states to multinational corporations, threatening the very democratic principles that bind the G7 countries. Meanwhile, the rapid rate of biodiversity loss and climate change threaten our very existence. 

 

These existential issues cannot be solved by any single country alone. They are a product of a global economic system that desperately needs to be reformed. The G7 countries represent over half of global economic wealth and still have the power to change this system. Tinkering with exchange rates and select tax policies will not cut it. 

 

We need our leaders to be brave at this critical juncture in history when the world is splintering, and to realize there is far more that binds us than divides us. 

 

My new paper, published today by The Wellbeing Economy Alliance, offers 7 Ideas for the G7 in the spirit of hope and a belief that a more just and sustainable economy is not only possible, but a few strategic decisions away...

 

Read whole article here:
https://www.opendemocracy.net/en/oureconomy/seven-ideas-g7/ 

Sepp Hasslberger's insight:

Seven ideas that might change the course of economic history ... if accepted and acted upon by the countries concerned. This is for the G7 but any country would do well to start the ball rolling. 

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Did a 19th century lie become Business-as-usual? - Betty Lim

Technology is not the solution because our way of life is wrapped around a global business model that legally allows corporate persons with no greater god than growth to keep extracting our value. 

 

Adam Winkler, a professor at the UCLA School of Law, has painstakingly explained how ‘Corporations are people’ is built on an incredible 19th century lie but today, our man-made world is legally more tailored for corporate persons (business entities) than human beings. 

 

With no higher god than growth, business entities then pay the least possible to make as much profit as possible for their key owners. With technology, they have been able to gradually monetize-to-own the four main economic finite resources for production: 

 

  • Land or naturally occurring resources like forests or minerals 
  • Labor or all forms of human input

  • Capital or inputs into production like factories and machines

  • Entrepreneurship, the human resources that take risks and innovate to bring together land, labor and capital to secure production.

It’s how they maximize profits, outsourcing their risks while extracting to reap all the (financial) benefits.

Sepp Hasslberger's insight:

Betty Lim describes how our economy is tailored to the needs of finance and the corporations, instead of the needs of people...

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What Is Facebook's Cryptocurrency and Why Does It Matter?

What Is Facebook's Cryptocurrency and Why Does It Matter? | Money News | Scoop.it

Facebook's "Libra" is not just an attempt to corner the global online payments market—it is a direct challenge to the authority of nation-states. 

 

The Libra is intended to be a unified global payment processor and optionally-pseudonymous cryptocurrency, backed by real assets and supported by some of the world’s best companies, that can be used by any company or individual that has access to a Facebook account—in short, it is the future of money. 

 

To help oversee, design, launch, and manage the Libra, Facebook is putting together a Switzerland-based governing association composed of a consortium of partner organizations. The list of founding members alone is impressive: it includes Visa, Mastercard, Paypal, Stripe, eBay, Uber, Spotify, Vodafone, and many more...

Sepp Hasslberger's insight:

Facebook is planning to come out with its own currency, potentially encroaching on the turf of banking and sovereign nations' issue of money. The project is facing important hurdles ... as it should. 

AJ Goldbloom's curator insight, June 28, 2019 5:22 PM
It is hard to believe that with every payment app, people are still finding ways to reform mobile, technological money. Creators are finding ways to deposit and withdraw money that are faster, easier, and more useful than ever before. Facebook's latest and greatest idea is to innovate the mobile money game with "Libra", a software that allows people with all different forms of currency, different cards, and different apps, to converge and exchange monies. The author describes that "Libra is intended to be a unified global payment processor and optionally-pseudonymous cryptocurrency, backed by real assets and supported by some of the world’s best companies, that can be used by any company or individual that has access to a Facebook account—in short, it is the future of money." As usual, we must be skeptical of this idea, as it presents a large red flag in terms of privacy. Is Facebook, a social media app accessed and run around the world, able to withstand the responsibility of a "global payment processor"? If we trust Facebook with our money and our exchanges, how can we know that their databases are not illegally and nonconsensual using personal information to enhance their advertising, political, and social algorithms? With an idea as grand as Libra, we must remain skeptical before allowing Facebook to access our money. Is it safe to mix social media, personal information, and money together?....
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Universal basic income may be adopted in Scotland providing a weekly cash payment for life

Universal basic income may be adopted in Scotland providing a weekly cash payment for life | Money News | Scoop.it

Scotland may adopt a universal basic income scheme that would guarantee a cash payment of up to £150 a week to its citizens for the rest of their lives, Nicola Sturgeon has said. 

 

The First Minister said she would fund research into the proposal that would “inform parliament’s thinking for the future”.

Sepp Hasslberger's insight:

Another country is toying with the idea of a universal basic income. It would seem to me that the promise of "full employment" which is no longer tenable, must give way to some other form of inome that isn't connected to employment necessarily. Otherwise, a lot of people will end up without means to buy anything - we see that in the ever growing number of homeless people - and the whole economic edifice could come crashing down...

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Bolivia Declares 'Total Independence' From World Bank And IMF

Bolivia Declares 'Total Independence' From World Bank And IMF | Money News | Scoop.it

Evo Morales has been highlighting his government's independence from the International Monetary Fund and the World Bank. 

 

Bolivia’s President Evo Morales has been highlighting his government’s independence from international money lending organizations and their detrimental impact the nation, the Telesur TV reported. 

 

“A day like today in 1944 ended Bretton Woods Economic Conference (USA), in which the IMF and WB were established,” Morales tweeted. “These organizations dictated the economic fate of Bolivia and the world. Today we can say that we have total independence of them.” 

 

Morales has said Bolivia’s past dependence on the agencies was so great that the International Monetary Fund had an office in government headquarters and even participated in their meetings...

Sepp Hasslberger's insight:

Certainly a step in the right direction. Cut ties with the money lenders...

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Study: Universal Basic Income Won’t Make People Work Less

Study: Universal Basic Income Won’t Make People Work Less | Money News | Scoop.it
A two-year universal basic income study in Finland concluded that in 2017, those who received payments worked the same amount and were healthier overall.
Sepp Hasslberger's insight:

Universal basic income as a solution to poverty? It might just work...

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Colossal Financial Pyramid: BlackRock and The WEF "Great Reset"

Colossal Financial Pyramid: BlackRock and The WEF "Great Reset" | Money News | Scoop.it

A virtually unregulated investment firm today exercises more political and financial influence than the Federal Reserve and most governments on this planet. 

 

The firm, BlackRock Inc., the world’s largest asset manager, invests a staggering $9 trillion in client funds worldwide, a sum more than double the annual GDP of the Federal Republic of Germany. 

 

This colossus sits atop the pyramid of world corporate ownership, including in China most recently. Since 1988 the company has put itself in a position to de facto control the Federal Reserve, most Wall Street mega-banks, including Goldman Sachs, the Davos World Economic Forum Great Reset, the Biden Administration and, if left unchecked, the economic future of our world. BlackRock is the epitome of what Mussolini called Corporatism, where an unelected corporate elite dictates top down to the population. 

 

You can find the whole article here: 

https://www.globalresearch.ca/more-blackrock-than-you-might-imagine/5748159 

Sepp Hasslberger's insight:

Too much concentration of financial power, where now governments are practically unable to rein them in. It's the economic side of the coup, the "great re-set" of the technocrats' planned take over... 

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How Business-as-usual (BAU) molds "Surviving for Self"​ belief bubbles: Part II

How Business-as-usual (BAU) molds "Surviving for Self"​ belief bubbles: Part II | Money News | Scoop.it

“There are forces that affect people in the world that you must comprehend. You must gain an understanding of why people all think the same, why they have the same attitudes, why they use the same words and phrases, why they have the same responses, responses that do not come from Knowledge, why they hold to the same assumptions without question, why they follow one another blindly around, why they act mindlessly and foolishly and why they hurt themselves and other people.”Tom Christoffel 

 

All of us need air, water, food, sleep, health, warmth, safety and security for our wellbeing. 

 

But since the first BAU Revolution, corporate entities modelled on the “original corporate raider” have dangled wages as the means to how we may access basic necessities (and more) to grow their business empires... 

 

You can find the whole article here: 

 

https://www.linkedin.com/pulse/how-business-as-usual-bau-molds-surviving-self-beliefbubbles-betty-l-/ 

Sepp Hasslberger's insight:

Business as usual - it keeps us from examining economic basics with a view to changing them.

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Your Guide to the Great Monetary Reset

Your Guide to the Great Monetary Reset | Money News | Scoop.it

Do you know what it means when the Managing Director of the IMF warns of a “new Bretton Woods moment?”

 

How about when the head of the BIS revels in the total surveillance power that digital currencies will afford the central bankers?

 

Well, you’re about to. Don’t miss this info-packed edition of The Corbett Report podcast where James peels back the layers of the great currency reset onion and uncovers the New World (Monetary) Order.

 

Further supporting links to this video here:

https://www.corbettreport.com/brettonwoods2/ 

 

 

Sepp Hasslberger's insight:

It looks like, in the intentions of the international money people, cash is on the way out...

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Humanity at the Crossroads

Humanity at the Crossroads | Money News | Scoop.it
Humankind is at a cusp, a point of transition between two different states of governance and existence. The world today is like a sack being slowly filled while the string around the opening is pulled increasingly tighter to prevent the contents from escaping confinement. The shadows of this future are everywhere to be seen but even the keenest of observers tend to view the portents not as the warnings they are, but instead regard all these pieces of one despairing puzzle as disconnected and unrelated events. In this essay, we will take a look at where our world is going, how it is going there, and why it is going there.
 
A Quick Look at Greece
Greece is now a failed state, an almost perfect exemplar of our future, the definitive ideal of those planning the world to come. Driven into bankruptcy by unrepayable loans, the leaders of Greece threw away their nation’s one chance for survival as a sovereign state and instead capitulated totally, accepting draconian measures meant to perpetually impoverish their population, while privatising the entire nation in one fell swoop. The international bankers bullied Greece into placing the nation’s entire infrastructure into a so-called trust (controlled by “an independent Luxembourg-based company”), which, by order, would be “entirely outside the reach or influence” of the Greek government. The bankers and their friends will now take ownership of all of it, at prices they set.
 
A Look at Iraq
It is well-known the US launched a devastating war on Iraq, criminally unjustified and based entirely on falsehoods, and against the advice of its own military, some in the Pentagon labeling the idea “crazy”. By 2013 the US media were reporting a US military withdrawal from Iraq, but the US never had any intention of ever leaving Iraq. The myth of withdrawal was merely a PR attempt “to delete Iraq from the public’s collective consciousness, to make it disappear so they can work quietly without public scrutiny”. It is true that several hundred small military bases have been closed, but there are an additional 40 or 50 very large bases that were built to be permanent and will never be closed.
 
A Matter of Money
At least US$100 billion and perhaps as much as US$200 billion, the bulk of this in cash, all of it within Bremer’s control, simply disappeared without a trace. The US FED alone shipped US$40 billion in cash by air to Iraq, most of it unaccounted for. Millions of tons of Iraqi oil were sold without accounting as to the purchasers and with no record of the disposition of the receipts. A large but undetermined additional amount of exported oil was unmetered, leaving no record of the volume or the payments. Bremer had a room near his office in Saddam’s palace that contained by documented reports US$600 million to US$800 million in cash, that was his private ‘slush fund’ and which bore no records of any kind. There was no oversight from any source. Billions of dollars were repeatedly paid for contracts where no evidence existed of work having being done. In addition, Iraq’s central bank was looted of at least US$20 billion in gold (some reports claimed US$60 billion), plus undocumented billions in foreign currency, which is also unaccounted for.
 
A Review
Let’s review what we have so far. A group of powerful men decided that Iraq would be colonised, and pressed Bush to use the US military to destroy and then occupy the country, this over the objection of the US military. This same group removed Garner and installed Bremer as the head of the Coalition Occupying government, over the unanimous objections of the US President, the Secretary of State, the National Security Council, the US military and the CIA. Bremer, appearing to have unlimited power and no oversight, reported to no one in the US government, the evidence suggesting the White House and Cabinet, including Donald Rumsfeld, Bremer’s direct superior, and the US President, were forbidden to meddle or even to ask direct questions on his activity. The US military and CIA voiced strong objections – to no avail – to many of Bremer’s initial laws, especially on the Ba’ath society and dismantling the Iraqi military, stating these actions would lead to perpetual protests and bloodshed.
 
Who are They?
Who were those people, this handful of powerful men, who decided to subjugate and loot Iraq, the men responsible for drafting all Iraq’s new laws, and undoubtedly the recipients of the missing billions? Who are these men who have the power to direct the US President and the military to destroy an innocent country and occupy it? Who has the power to take over Iraq’s entire infrastructure and loot all its assets, while forbidding any part of the US government to interfere, in spite of the fact that the US paid the bill for the entire effort? Similarly, who were the men with the power not only to terrify Greece into utter submission and loot the country’s entire infrastructure in one shot but to embed themselves permanently into Greece’s government with the authority to maintain and ensure that submission?
These men were, are, and will be, our new masters in our Brave New World. But there is much more. We have seen brief examples of where we are going – “by conquest or consent”. Let’s take a brief look at how the rest of us are going there...
 
You can find the whole article at the following link: 
 
 
or by searching the headline
 
Humanity at the Crossroads
Sepp Hasslberger's insight:

This article takes two countries, Greece and Iraq, as example of countries that have been looted and left in tatters and it fingers the financial power behind the operation. This is what's in store for the world at large ... unless we band together and say a firm NO to those interests in the process of establishing their firm grip on all of us in a world wide coup...

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A New Ecological Civilization

Guy Dauncey, author, futurist and anthropological economist, shares a positive vision of a sustainable future in which we live, work and play in harmony with Nature, and with respect for all beings.

300 years ago, the Enlightenment generated an inspiring vision of scientific, technological and economic progress. What was once global ‘progress’, however, has become a climate, ecological, economic and pandemic emergency.

We need new inspiration. When we emerge from the COVID-19 pandemic we can’t afford to go back to business-as-usual. We need to build for ourselves a New Ecological Civilization in which we live, work and play in harmony with Nature, with respect for all beings, in an economy based on the economics of kindness.

See other videos in this series:
https://www.youtube.com/playlist?list=PLxtqhfCEPGuiG4cZ5T8bKKEBjvJffNU0T

Presenter Bio:

Guy Dauncey is a futurist, anthropological economist, plus founder of the BC Sustainable Energy Association, and the author or co-author of ten books, including The Climate Challenge: 101 Solutions to Global Warming and Journey to the Future: A Better World Is Possible. He is currently competing his next book on The Economics of Kindness. He is an Honorary Member of the Planning Institute of BC, a Fellow of the Royal Society for the Arts, and President of the Yellow Point Ecological Society.

https://creativelyunited.org
http://climateandthearts.org/
https://www.ecoforestry.ca/

Sepp Hasslberger's insight:

We do need to consider how to continue in the area of economy. Clearly what we have is not working properly. Here is someone who paints a positive future for the economy. Video 1hour 20 minutes.

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Global Debt Is Up To $188,000,000,000,000 – This Is Officially The Biggest Debt Bubble The World Has Ever Seen

Global Debt Is Up To $188,000,000,000,000 – This Is Officially The Biggest Debt Bubble The World Has Ever Seen | Money News | Scoop.it

The world is now 188 trillion dollars in debt, and that number continues to grow rapidly each year. It is a form of enslavement that is deeply insidious, because most of those living on the planet do not even understand how the system works, and even if they did most of them would have absolutely no hope of ever getting free from it.

 

The borrower is the servant of the lender, and the global financial system is designed to funnel as much wealth to the top 0.1% as possible.

 

Of course throughout human history there has always been slavery, and the primary motivation for having slaves is to extract an economic benefit from those that are enslaved. And even though most of us don’t like to think of ourselves as “slaves” today, the truth is that the global elite are extracting more wealth from all of us than ever before...

Sepp Hasslberger's insight:

Our financial system is completely insane. There is NO justification for all this debt and NO possibility to ever "pay it off". So perhaps we should think of some creative way of abolishing the slavery that comes with debt and re-organize our economic/financial system?

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Los Angeles and San Francisco announce they are moving forward with plans to start public banks – Public Banking Institute

Los Angeles and San Francisco announce they are moving forward with plans to start public banks – Public Banking Institute | Money News | Scoop.it

Close on the heels of the Public Banking Act being signed into law last week, LA City Council President Herb Wesson announced he will be introducing a motion within the week to hire a banking expert to draft a comprehensive plan for a public bank for the City.

 

The San Francisco Chronicle reported that San Francisco was also pushing ahead with plans for a city-owned bank.

 

Public banking is banking operated in the public interest, through institutions owned by the people through their representative governments. Public banks can exist at all levels, from local to state to national or even international. Any governmental body which can meet local banking requirements may, theoretically, create such a financial institution. 

 

Public banking is distinguished from private banking in that its mandate begins with the public’s interest. Privately-owned banks, by contrast, have shareholders who generally seek short-term profits as their highest priority. Public banks are able to reduce taxes within their jurisdictions, because their profits are returned to the general fund of the public entity. The costs of public projects undertaken by governmental bodies are also greatly reduced, because public banks do not need to charge interest to themselves. Eliminating interest has been shown to reduce the cost of such projects, on average, by 50%. 

https://www.publicbankinginstitute.org 

Sepp Hasslberger's insight:

Banking operated in the public interest... sounds like something that should be explored to the fullest.

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Neoliberalism Has Met Its Match in China - Truthdig

Neoliberalism Has Met Its Match in China - Truthdig | Money News | Scoop.it

When the Federal Reserve cut interest rates last week, commentators were asking why. According to official data, the economy was rebounding, unemployment was below 4% and gross domestic product growth was above 3%. If anything, by the Fed’s own reasoning, it should have been raising rates. 

 

Market pundits explained that we’re in a trade war and a currency war. Other central banks were cutting their rates, and the Fed had to follow suit in order to prevent the dollar from becoming overvalued relative to other currencies.

...

 

We cannot win a currency war through the use of competitive currency devaluations that trigger a “race to the bottom,” and we cannot win a trade war by installing competitive trade barriers that simply cut us off from the benefits of cooperative trade. More favorable to our interests and values than warring with our trading partners would be to cooperate in sharing solutions, including banking and credit solutions. The Chinese have proven the effectiveness of their public banking system in supporting their industries and their workers. Rather than seeing it as an existential threat, we could thank them for test-driving the model and take a spin in it ourselves.

Sepp Hasslberger's insight:

An insightful article about the predicament the Western banking and economic model finds itself in. China seems too big of a bite to swallow.

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There is No Policy Proposal More Progressive than Andrew Yang’s Freedom Dividend

Why a universal basic income (UBI) of $1,000 per month as proposed by Andrew Yang as the “Freedom Dividend” would be the most progressive policy achievement in the history of the United States. 

 

The Freedom Dividend as proposed is an unconditional cash transfer of $1,000 per month that would go to every American citizen age 18 and up. The dividend is unconditional in that it carries no requirements, including any of the typical work requirements imposed on standard benefits.

 

Unemployed? You get it.

 

Do you have to prove you’re looking for a job? No.

 

Do you have to attend any classes? No.

 

Employed? You get it in addition to your paycheck.

 

Can you spend it on anything? Yes. It’s cash.

 

You are free to use it in any way you want, to buy anything you want.

Sepp Hasslberger's insight:

The article discusses a detailed proposal for a universal basic income in the United States as proposed by one of the democratic candidates. It would seem to be a great improvement over the current poverty situation in that country.

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Can we “invent” ourselves out of trouble?

Can we “invent” ourselves out of trouble? | Money News | Scoop.it
Money constrains our choices of technology in the direction of death and destruction. We need to change how we view money to change our technologies.
Sepp Hasslberger's insight:

We have sufficient inventive genius to resolve all of our problems. But genius is not enough. We also need to have the will to use inventions, even if they threaten to obsolete standing investments or diminish our capacity to kill each other in wars.

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Global Debt is Now an Insane $164 Trillion, but Who Exactly Do We Owe?

Global Debt is Now an Insane $164 Trillion, but Who Exactly Do We Owe? | Money News | Scoop.it

If you've ever wondered why the world seems hopelessly fraught with endless conflict, ruled corrupt states, and bent on developing a never-ending supply of advanced weaponry, you'd need to understand the nature of our debt based economy.

 

Katherine Austin Fitts says "planet earth is a real estate investment trust because we’re paying a dividend some place every year, and I don’t know where it’s going... it is possible that planet earth engaged in some type of trade with extra-terrestrials."

 

Looking at global debt as a transaction between the planet and some other ET force makes a good bit of sense, as it definitely does not make sense for the human race to enslave itself to itself with such an insane system. 

Read the whole article by following the linked headline...

Sepp Hasslberger's insight:

An insane amount of debt is keeping us locked into an endless economic treadmill. Wars would be impossible without all that money, there is no hope of ever "paying it off" - so who exactly are we in debt to? That seems to be quite a legitimate question to ask, and one that has no answer unless we question the insanity of the system itself ...

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"It Belongs to the People": Italy Moves to Seize Gold From Central Bank

"It Belongs to the People": Italy Moves to Seize Gold From Central Bank | Money News | Scoop.it

Italy’s ruling populists pushed ahead this week with efforts to seize control of the central bank and its gold reserves.

 

“We need a change of course at the Bank of Italy if we think about what happened in the last years,” said Deputy Prime Minister Luigi Di Maio, leader of the 5 Star Movement... 

 

“The gold belongs to the Italians, not to the bankers,” said Giorgia Meloni, leader of the Brothers of Italy, a far-right opposition party that supports both bills. “We are ready to battle everywhere in Italy and to bring Italians to the streets if necessary.”

Sepp Hasslberger's insight:

“The gold belongs to the Italians, not to the bankers..."

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