Bravo! Bernard Lietaer – Why money needs to change now! –Published on Nov 29, 2014 The current monopoly of conventional money is a main source for unsustainable behaviors. New currency designs – among which crypto-currencies, but not only crypto-currencies ! – can contribute to make the necessary shifts more smoothly.
Discusses: inherent monetary instability; how the world’s economies are steaming straight for a wall. Mentions specifically the mathematical compulsory necessity of growth (will you accept the proposition from HIM, JohnG???); and the systematic redirection and concentration of wealth.
This question and answer is an essential insight I think.
Particulalry in the supplementary question and answer at 1.02.30 when Lietar says the Maoist, Soviet and Western systems of creating money was the same as debt at interest the only difference in the ownership of the banks..
Yeah, the problem isn’t unemployment and poverty. It’s all about rich, old, lazy, fat, musically talentless, white men preserving their unearned wealth at the expense of others.
The reality is that crypto currencies are at best ponzi schemes and largely exist to facilitate tax evasion and promote illicit drug and arms trafficking and human sex slave trafficking.
There’s your anti-democracy rationale right there.
http://pastebin.com/u8dhRUrW Verse 3 (Paranoid): We in the middle of a war and got a mission Exposing these ho’s as controlled opposition Listen, I ain’t hating or dissin I’m just trying to expand your vision (for real) It’s sickening the conditions we live in They’re trying to transform the planet to a prison Now most of these sheep, is half way asleep Sitting in their living rooms, watching their television (yea) But some of us is different We read the newspapers thinking who the fuck they kidding? We hate these politicians and it doesn’t really matter If their last name is Bush, Obama or Clinton We saw the twin towers and we thought – DEMOLITION! The powers that be said – BOY YOU GOTTA GET EM! You can tell em anything to make em feel like victims So long as Jesuits and Zionists are never mentioned
Wesley – with Clint BallingerFebruary 3, 2016 at 4:24 pm#
Dissent – it’s a funny thing! Imagine focusing on ASSENT!
Imagine focusing one’s attentions on areas of positive overlap! Imagine – MMT and Positive Money together, both now detox’d from their respective Kool-Aids having a cuppa’ together! Imagine, finding out that the most common criticisms of the PM propositions (by MMTers) are indicative of MMTers’ inability to read! Imagine, critiques of MMT (the horror!), also clearly originating from a lack of understanding (Krugman-style) of the actual reality of fraudulent, endogenous credit-creation in the private banking system! (PMers DO know how the system works, JohnG – no need to worry about any fractional-reserving money-multipliers over there!)
Ballinger also notes that both MMT and Positive Money are often unfairly criticized:
“Many of the concerns with the PM proposal I have seen brought up are actually discussed in some detail in the PM literature…and it often seems that critics of the plan simply do not closely read PM explanations of the details of the plan.”
“There are plenty of critiques of MMT – most of which are completely misguided and due to fundamental misunderstandings of the economy due to orthodox economic blinders.”
Subsequently, concerns regarding both approaches are laid out. For Positive Money, Ballinger asks:
“Would the new system of exclusively state money be able to create a fair system for large business loans? How would that system differ from the current system?”
And for Post-Keynesians and MMTers, Ballinger asks:
“Does the fact that endogenously created private credit-money dwarfs state money restrict the ability of the government to act in the public purpose in the way MMT believes?
“Does this render MMT ideas on the role of the state in the economy unworkable? Does the inherent instability and pro-cyclical nature of endogenous money have too many social costs? Does the endogenous money system stealthily but inexorably lead to regulatory capture? …Lead to unsustainable levels of private debt? To highly inequitable wealth distributions?” “]
Imagine – having a civilized conversation without waving a chain-saw around…
Wesley – Not waving a chainsaw!February 3, 2016 at 4:50 pm#
I’ve just noticed that Mr. Balliger has “approved” of the analysis as being clear and thoughtful… Funny, no comments from the MMT world, with or without chainsaws!
From the comments to that same link: http://positivemoney.org/2015/03/positive-money-versus-modern-monetary-theory/ [ Clint Ballinger • 7 months ago Just now ran across this – excellent article, thank you for breaking my article down in a clear and thoughtful way. I may have a few responses when I have some time. I guess my main one would be that I agree that the purpose of PM reforms is not to create a loanable funds system per se (PM goals are about power, dependency and accountability as you say). But the effect, in a language MMT and Circuit Theorists will understand (as well as even orthodox ‘economists’), is to create a loanable funds system, and my intent on highlighting this term is to unify/clarify the dialogue between the various groups involved. The result of changing to a loanable funds system in the way PM proposes would be to return the power to create new money to an accountable body in the public interest & to remove the dependency on debt-fuelled growth. Cheers, Clint ]
Hmmmm? Dangerous thoughts eh?!! Removing the ability of the banking system to create debt-based fiduciary media from thin air. Thoughts like that can lead to revolutionary new paradigms. OMG!
Verse 2: (Payday Monsanto) Aye yo Chris, I can feel ya like a hundred and twenty percent Haters and infiltrators are hell bent I wanna tie them up and make them repent And then find out by whooom they were sent These days they seem all out And if you know Payday, you know he’s balls out Alex Jones, he can’t stand criticism And I don’t trust him as far as I can spit it at em That’s the way it’s gotta be Until we know the details of the Council For National Policy I can only take a stab at it But what I do know is their agenda is very elaborate So who the fuck can we trust? When it comes down to the grizzle my nizzle I’m ready to bust Til the clip is empty These days I don’t even trust Gerald Celente
This is a famous interview Chomsky gave inthe UK, this Cointelpro part goes with the Chris geo track the whole Marr Chomsky interview is worth watching.
I tried to have a civilised conversation with you. All I got in return was a tsunami of insults, strawmen and incoherent bullshit.
Clint Ballinger and PM aren’t saying anything that chimes with your ideological stance.
Quite the opposite. The only thing you have in common with PM is that they criticise MMT. And that fits in with your crusade.
But then you, like PM don’t understand the monetary system. They are probably less confused than you. But confused they are.
I’ve tried to explain to you and Roger where they and you both are going wrong but neither of you has acknowledged the point.
I suspect because it’s inconvenient to your faux moral outrage.
You’ve all ‘discovered’ that banks create credit out of thin air.
That’s great. But there’s much more that you seemingly refuse to entertain so you fall back into your neoclassical mythology (and totally manufactured history) and end up with an entirely incoherent, muddled view.
PM sees the symptoms but misdiagnoses the problem because their basic understanding of the system is false. So they’re trying to treat the wrong illness with quackery.
And they, like ‘libertarians’ are being led by oligarchs. Funny that.
Revolutions led by oligarchs probably aren’t going to go the way the followers think.
Schön claimed to derive the notions of “reflection-on-action, reflection-in-action, responding to problematic situations, problem framing, problem solving, and the priority of practical knowledge over abstract theory” from the writings of John Dewey, although education professor Harvey Shapiro has argued that Dewey’s writings offer “more expansive, more integrated notions of professional growth” than do Schön’s.[18]
The current monopoly of conventional money is a main source for unsustainable behaviors. New currency designs – among which crypto-currencies, but not only crypto-currencies ! – can contribute to make the necessary shifts more smoothly.
Verse 3 (Paranoid):
We in the middle of a war and got a mission
Exposing these ho’s as controlled opposition
Listen, I ain’t hating or dissin
I’m just trying to expand your vision (for real)
It’s sickening the conditions we live in
They’re trying to transform the planet to a prison
Now most of these sheep, is half way asleep
Sitting in their living rooms, watching their television (yea)
But some of us is different
We read the newspapers thinking who the fuck they kidding?
We hate these politicians and it doesn’t really matter
If their last name is Bush, Obama or Clinton
We saw the twin towers and we thought – DEMOLITION!
The powers that be said – BOY YOU GOTTA GET EM!
You can tell em anything to make em feel like victims
So long as Jesuits and Zionists are never mentioned
Check it out!
I revolve around science.
What are we talking about here?
One.. t-t-two.. three, four James Brown
What are we talking about here?
Agitate, Aggregate,, Obviscate.
Repudiate, Obviate,Opiate,
Satiate Fascist Hate
Politics of envy, Divide and Rule
3 legged Milking Stool
Mushroom Clouded vision
Dark Room
No Hope
Fed Shite
Death of Ethics, No Spiritual Revolution
Satanic Absolution, Hypocritical Contortion.
Legalised Extortion.
3 legged stools and uphill tables
Tables turned and loyalties spurned
Dark Room, No hope , Fed SHITE!
[”
“]
http://positivemoney.org/2015/03/positive-money-versus-modern-monetary-theory/
[
Clint Ballinger • 7 months ago
Just now ran across this – excellent article, thank you for breaking my article down in a clear and thoughtful way. I may have a few responses when I have some time.
I guess my main one would be that I agree that the purpose of PM reforms is not to create a loanable funds system per se (PM goals are about power, dependency and accountability as you say). But the effect, in a language MMT and Circuit Theorists will understand (as well as even orthodox ‘economists’), is to create a loanable funds system, and my intent on highlighting this term is to unify/clarify the dialogue between the various groups involved. The result of changing to a loanable funds system in the way PM proposes would be to return the power to create new money to an accountable body in the public interest & to remove the dependency on debt-fuelled growth.
Cheers, Clint
]
Aye yo Chris,
I can feel ya like a hundred and twenty percent
Haters and infiltrators are hell bent
I wanna tie them up and make them repent
And then find out by whooom they were sent
These days they seem all out
And if you know Payday, you know he’s balls out
Alex Jones, he can’t stand criticism
And I don’t trust him as far as I can spit it at em
That’s the way it’s gotta be
Until we know the details of the Council For National Policy
I can only take a stab at it
But what I do know is their agenda is very elaborate
So who the fuck can we trust?
When it comes down to the grizzle my nizzle
I’m ready to bust
Til the clip is empty
These days I don’t even trust Gerald Celente