I posted this comment in a discussion in Linked in about the so-called Euro Crisis. This is a crisis of democratic oversight. Unfair advantage ceded to private financial interests abusing the right to issue the means of exchange which is relied upon and dependent upon the cooperation of all in society.
Its about Stakeholder oversight Eduardo and that means democracy and flat organizational structures, communication understanding different points of views needs and wants and knowing what the real resources available to achieve collective goals is that means stepping away from Special interests or selfish interests and making a judgment as to the common good for all stakeholders whether in Private businesses or Communities. Nutrition Health Education Housing equal opportunities consideration for ones Neighbor and their Neighbors neighbour being allowed to operate in an even playing field Free Market competition is one of the more cruel myths of Crony Capitalism with its state endorse monopolies and oligopolies and its hideously rigged financial system at its heart. What it is about is a stakeholder society if Society has oversight of its organizational structures then ultimately failure rests with each one of us where the present system condemns the vast majority of citizens to certain failure 97% of money in circulation represents the debt of some other person in society and the whole system requires debt to grow exponentially which sees an accelerating pace of more and more people being excluded and we are all expected to believe that if we work hard and are prudent we will be one of the winners. Sadly the Money system is raping the Prudent and hardworking and the helpless and is lining its already bulging pockets this has accelerated since 2007 when institutions supposed to stop it and protect us from these abuses have become more in the debt of the system that they bailed out without asking us all about it and the EU are desperate that we should still not be asked witness Greece, remember the strong-arm attempts on Iceland. What do you thing Libya was really about or Iraq for that matter and now Syria and Iran,
what do yo think Carbon Taxation and trading is really all about and all the quasi-religious Carbon stuff? I’m a tree hugger myself so I do not represent oil lobbies and definitely deplore deforestation as well. But Carbon Taxing is a great way to re base a broken Banking model with a central purpose of biblical proportions lets save the planet. ( what about all the other pollution?)
Yes, let’s save the Planet and 99% of humanity with it calls time on the Banks robbing our communities and society of what is rightly it’s own that is its own potential to produce and belief in the credit of and commitment of other members of society to strive for a better life.
Anyway, this isn’t a manifesto but both Governments and Corporations and especially Corporate Government and the corporate rent-seeking state all need dismantling and rebuilding in the image of the people for communities and the society they want to see.
Think Local and let the big grow out of the small for the projects and so forth that require wider cooperation, Globalism is about exploitation not about cooperation and mutual benefit.
Get the stakeholders back in the driving seat I say ( in the driving seat? as I do not believe it has ever been so. The Scandinavian countries have come closest and that goes back to the 1930’s the history of Sweden on Wikipedia is very interesting and is worth a read to see how social justice if enacted as a core requirement of governance. ( the general strike here in the 1930ś got a real commitment as was the disclosure by the banks in the 92 banking system) something to do with Scandinavian straight talking I guess.)) can do great things. Its another model that could bear looking at.
The United States of America,. United States of Europe same story both sides of the pond.
Goldman Sachs instrumental in Both.
A debt commission as called for by Tpiris in Greece is a good idea the politicians and Bankers will do anything they can to avoid that. We have a banking commission in the UK called the Vickers commission it was a predictable whitewash, separating Retail from Investment banking is a distraction from the real problem which is the Debt-based Bank money. Vickers went the extra mile to make sure the usury went unquestioned it must be exposed for what it is a theft of societies potential for the benefit of a very few who’s interests are completely divorced from any community-based interests.
Full disclosure, independent and broadly based stakeholder representative oversight.
Usury is a destroyer of civic society, this is a truth found in many philosophical and religious writings it is not found in mainstream economic theory, that is telling a lot of things do not appear in Main Stream Economics its a coalition of Charlatans.
The Global Hydra of Financialised Kleptocracy, what Roy Madron calls a monetocracy, has several discernible heads. Harold Wilson identified the Gnomes of Zurich, There’s the BArbarians at the Gate in Wall Street, The Flashman’s of the City of London, And the Bombastic Robber Barons of Frankfurt.
From, Wall Street in the West to Frankfurt in the East a curtain of debt has descended that seeks to trap us etc etc. Not much into Rhetoric and Speechifying.
we do not need to be intimidated we need to just withdraw cooperation in any small way we can. Bank with a mutual or credit union, grow some vegetables in your garden or window boxes, utilise local currency schemes where possible start one where it’s not.
Discuss practical schemes for local benefit with friends family and neighbours, social network, form local study groups and support networks. All olf these things will build team spirit in team 99%. Start small and remember life is about the journey we are born we die how fulfilling we make the journey between the two is up to us its a hell of a lot more fun making a journey with friends and meeting friends along the way than not sharing experiences and experience we all need to be each others Sensai on the road to
a more fulfilled life, usury is designed to prevent us from enjoying the journey suffering doesn’t ennoble us but freeing ourselves from bondage does. Debt peonage or freedom and a vegetable patch, I know which way I’m headed.
the circularity of the International Financial FIAT DEBT Money Web is highly interdependent of cross border sleight of hand. The Western FIAT money system has been Pegged to the PetroDollar as the main settlement currency since the early Seventies. ( In that sense all currencies including the Euro since its inception has been dollarised.
Some people consider that the Euro was threatening this PetroDollar Hegemony by accident if not by design, which would be very bad news for the US as effectively it has allowed The US an extremely large free lunch since the early 70ś, as a FIAT Currency of Last resort in Private control through Private Bank money and remember the Fed is also Private, ( there’s absolutely nothing Federal about it.) The senior partner in the Partnership has been over dipping I’m afraid a pattern we see repeated in the Corporate and Financial worlds as well.
The Euro, the proposed Gold Dinar the Yaun and Rouble and possibly Yen mutuality agreements all point to the thieves alliance being under pressure as the US has taken too much out of the pot as have the Financial systems elsewhere it really is a classic re-run of Aesops Golden Goose. ”Much wants more, and loses all.” Other cultures probably understand money and its function in commerce rather better than we westerners where since the 1545 act “An Act Against Usury” (37 H.viii 9) of King Henry VIII of England effectively by mystifying money and misrepresenting the nature of banking to the public since then the abusers of the system have brought us all to the brink of this particular Abyss. With successive liberalisation and deregulation, the repeal of the Glass Steegle acts being the most infamous example of recent times.( In the US)
From Central Bank SDR’s and the whole artifice of the international Money System all the way down to licensed deposit-taking , is flawed with the Capital Ratios inherent to a runaway system of money creation we have. Fractional reserve banking when the Derivatives markets are added back in is completely beyond any sensible and sustainable abuse of this inherently abusive system.
Whether the Euro is Dollarised or not does not get away from the fundamental design flaw that is still ruining America just as much as it has ruined Greece ( For Now).
I can’t help but think that centralising more money creation power into the US would in any way be helpful but that seems to be what the US politicians and Bankers are shooting for, An old friend of mine used to joke that the best thing the UK could do Economically would be to Declare War on the USA and Give up, thereby becoming the 51st state. Maybe this is what David Cameron has in mind, not the War Part, he may well have already studied the Sale of Alaska to the US by Russia. In 1867.
Heres a Wikipedia table of External debt by Country it points to how circular the whole tottering edifice is.
One really good reason that other countries do not wish to be Dollarised is that the US has over drawn on its own credit in large part to bail out its own Zombie Banks successively again since the ’70s with fewer and fewer wrong doers being penalised ( from 20078 none at all.) with that great fraud on the American Taxpayer and future generations TARP. That Spain would be considering something similar and that Greece and Ireland were effectively strong-armed into force-feeding the same medicine to its citizens is a great indication that people just won’t wear it. Europe in large part is still less of a police state than America and Europe will not be so easy to marginalise as a whole, as has been achieved in Iraq, Libya, and is now being attempted in Syria, and Iran and Georgia? There’s a big divide and rule strategy in play here and a strong current of opinion pushing for war the last refuge of survival and re nourishing of the corrupt money system we now suffer under.
And Finally, an interesting exchange of pleasantries with a Banker type Yankee chappy.
I was the first person to testify in Congress (5-5-09) that continued deficit spending and government bailout guarantees would break the AAA credit rating of the United States.
I was writing that the euro was over in late 2009 because Italy was a “pig too far”. Fractional banking has always been considered a “necessary evil.” Banking crisis is just Schumpeter’s creative destruction on a bigger scale.
The Fed is the 3rd bank of the USA. I believe the great bear market began in March of 2000 and is just about to finish its multi-leg down phase. Capitalism can take a likin and keep pon ticking. Socialism, not so much!