With the fast-advancing ‘credit crunch’, there is a huge increase in interest in the topical issue of the origin and nature of money.
Comment in the media indicates that there is much confusion among ‘experts’ about what is needed, and the facts of what exactly the ‘quantitative easing’ means. It is clear that it is not ‘taxpayers’ ‘lending’ the money to the banks; they do not have such huge sums to lend!
What is clear is that the attempt is being made to bail-out the banks which have brought on the problems and so restore the system to ‘health’, rather than admit that it is in terminal collapse, and in need of fundamental change. It victims are the ones needing ‘bail-out’.
My new videocast, www.moneymyths.org.uk has received a lot of attention and commendation (with some reservations!), and is part of a huge mass of internet material on the subject.
A small sampling to recommend is below:
Beyond the Bailout: Agenda for a New Economy, by David Korten, is quite long, but thought-provoking, on www.yesmagazine.org/article.asp?id=3050
From Cllr. Rupert Read, prospective Green Party MEP for Eastern Region:
"I recommend colleagues to watch ‘Zeitgeist addendum’. These guys have an unfortunate tendency to be credulous toward conspiracy theories, an excessive dislike of religion and an excessive affection for Libertarianism, and a crude and almost laughable technophilia and technocracyphilia – BUT their analysis of money [and of American imperialism] is simple, thoughtful and extremely compelling, and beautifully cinematographed. Well worth watching the first hour of this film, the left-hand one at http://www.zeitgeistmovie.com/"
Another illuminating website to view is http://www.chrismartenson.com/. It forcefully illustrates the multiple threats to the future due to exponential growth – including in the debt-based money supply.
On local/complementary currencies, http://online.wsj.com/article/SB123128312320458913.html has an interesting offer:Wednesday, January 7, 2009"When It Comes to Cash, A Thai Village Says, ‘Baht, Humbug!’" by JAMES HOOKWAY
One of the clearest statements on how to reform the system and cure the credit crunch ever delivered on the Floor of the US House of Representatives was made on Friday 9th January by Congressman Dennis Kucinich. See http://uk.youtube.com/watch?v=AR2EtMteHCg&feature=channel_page
Then there is, of course, the long (3½ hours), long-standing ‘The Money Masters’ video, available at $49.95. or $95 for 5 copies (international orders) at www.themoneymasters.com
Another site worth a viewing on a related topic, though perhaps aimed mainly at American teenagers, is the fast-moving ‘Story of Stuff’, at http://www.storyofstuff.com/
"In the Colonies, we issue our own paper money. It is called ‘Colonial Scrip.’ We issue it in proper proportion to make the goods and pass easily from the producers to the consumers.
In this manner, creating ourselves our own paper money, we control its purchasing power and we have no interest to pay to anyone.
You see, a legitimate government can both spend and lend money into circulation, while banks can only lend significant amounts of their promissory bank notes, for they can neither give away nor spend but a tiny fraction of the money the people need. Thus, when your bankers here in England place money in circulation, there is always a debt principal to be returned and usury to be paid.
The result is that you have always too little credit [money] in circulation to give the workers full employment. You do not have too many workers, you have too little money in circulation, and that which circulates, all bears the endless burden of unpayable debt and usury."