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A Monetary Reform Proposal for Iceland

Beyond Money - April 24, 2015 - 10:22

I have recently received from several sources word of a new monetary reform proposal. This one, commissioned by the Prime Minister of Iceland, is titled, MONETARY REFORM A BETTER MONETARY SYSTEM FOR ICELAND, and is authored by Frosti Sigurjonsson.

I’ve taken the time to read only the Overview and summary portion, but that is sufficient to discern the crux of the Sigurjonsson proposal, which is this:

The Central Bank will be exclusively responsible for creating the money necessary to support economic growth. Instead of relying on interest rates to influence money creation by banks, the Central Bank can change the money supply directly. Decisions on money creation will be taken by a committee that is independent of government and transparent in its decision-making, as is the current monetary policy committee.

New money, created by the Central Bank, will be transferred to the government and put into circulation in the economy via increased government spending, by reduction in taxes, by repaying public debt or by paying a citizen dividend.

The Central Bank will also be able to create money for lending to banks for onward lending to businesses outside the financial sector.

Sigurjonsson indicates that his proposal draws heavily upon an earlier proposal titled, A Monetary Reform for the Information Age, by Joseph Huber and James Robertson (New Economics Foundation (2001)), which I critiqued early in 2002. That critique, along with subsequent dialog between the authors and myself, can be found at http://reinventingmoney.com/monetary-reform-information-age/.

Since both the Sigurjonsson proposal or the Huber/Robertson proposal advocate the same basic approach, I strongly believe that any serious consideration of either, should also consider my above mentioned earlier critique and subsequent dialog.

While I agree with much of what Huber and Robertson (and presumably, Sigurjonsson) say about the defects in the present money system, I believe that their proposed centralized “solution” does not go nearly far enough in solving those defects. Continuation of the money monopoly in (presumably) different hands does not get to the root of the problem. It is my view that the key to achieving more equitable and sustainable economic interrelationships lies in liberating the exchange process from monopolized money and banking, enabling the creation of competing currencies and credit clearing exchanges, and allowing the needs of traders themselves to determine the supply of exchange media (money) in circulation at any given point in time.

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Categories: Blogs

Beyond Money—Learning the basics of value exchange

Beyond Money - April 19, 2015 - 10:45

We need to get beyond the confusions and obfuscations that surround the concept of money.

To do that we need to distinguish between what money is, i.e., its essence, and what money does, i.e., its functions. Conventional definitions of money, the ones that are universally taught in schools and universities, tell what money is supposed to do, not what it is.

The essence of money is credit. It is the issuer’s i.o.u. or promise to reciprocate, i.e. to provide real value to the market and accept his currency back as payment for it.

With that in mind, we can begin to make sense of money and effectively address the problems that arise from conventional forms of money.

Conventional thinking lists money as having these functions:

  • Medium of exchange—what we use to pay one another.
  • Store of value—what we use to save our temporary surplus.
  • Measure of value—what we use to quantify the market value of all the things that we buy and sell.

But, as I have argued for almost 30 years, these are separate and distinct functions that need to handled by distinct and different means. (For more about that see my book, Money and Debt: A Solution to the Global Crisis, Part III).

Let’s focus on the exchange function, for this is the fundamental and proper role of money, and this is where attempts to solve our global financial and economic problems must begin. Anyone who has studied my work will know that I have thoroughly articulated these concepts in my books and my various presentations. But theory and practice develop together, each informing the other, and finding ways to improve the process requires that we look at both.

Over the past several decades, numerous innovations in the exchange function have emerged, including virtual commodities like Bitcoin, LETS systems, community currencies, and commercial trade (“barter”) exchanges.

Of these, the greatest market success has been achieved by commercial trade exchanges which enable their member businesses to buy and sell without using conventional money. Rather, trading is enabled by using the members’ own credit in a process called credit clearing which simply offsets debits from purchases against credits from sales. (For a more complete description of how this works, see my book, The End of Money and the Future of Civilization, especially Chapter 10).

Over the past 40 years, much has been learned from the operation of commercial trade exchanges, and while they have achieved some modest levels of success, they have barely scratched the surface of the potential market for credit clearing services. It remains for exchanges system designs and procedures to be optimized and standardized and for local exchanges to be networked together into a vast moneyless marketplace.

The trade exchange industry has two trade associations that have been instrumental in helping practitioners to share information and in promoting standards and best practices. These are the International Reciprocal Trade Association (IRTA) and the National Association of Trade Exchanges (NATE). But over the past year a new voice, Bartertown Radio, has emerged that seeks to disseminate the knowledge and wisdom of practitioners to a wider audience. Its mission is to provide an “Educational Program for Business Owners, Entrepreneurs, Barter Exchanges, Owners or New Owners of Barter Exchanges or anyone interested in Alternative Economies.”

Broadcasts are archived and can be accessed on demand at the Bartertown Radio website. Particularly relevant is the April 18 broadcast featuring Richard Logie, a man with 20 years of experience as a trade exchange operator and software platform developer. During that interview, Richard shared his experience and knowledge about a wide range of topics including the factors he considers in allocating credit lines to exchange members, how tax issues are dealt with, and ongoing efforts to establish and enforce good standards of operation. That interview with Richard will be continued next Saturday, April 25 at 11 AM Eastern time (UTC-5). Be sure to tune in at http://www.blogtalkradio.com/educate4barter/2015/04/25/richard-logie-part-2 .

Other archived broadcasts that may be of particular interest are the April 5 interview with industry leader, Harold Rice of the American Exchange Network, and the interview with yours truly from December 13, 2014. Besides operating his own trade exchange company for almost 40 years, Harold Rice has provided consulting services for entrepreneurs and other exchange operators. He is a fount of knowledge about the details of exchange operation and has special expertise in accounting and tax issues.

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Categories: Blogs

Realising The Credit Commons

Matslats - April 17, 2015 - 15:50

Currently the vast majority of complementary currencies are local initiatives. I'm talking about real initiatives with daily trades rather than mere ideas, models, exaggerations non-starters, and dead systems.

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Categories: Blogs

The Credit Commons: Better than Bitcoin

Matslats - April 12, 2015 - 13:57

This is just a few notes about why the Credit Commons design is better than bitcoin. This is not an article and is written for no particular audience, but it could be!

We have to thank Tom Greco for bringing the phrase 'Credit Commons' to our attention. It reminds us that everything which was common is being enclosed, and that the abstract, misunderstood and very simple thing, credit is the most critical to bring about a fairer and more sensible society.

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Categories: Blogs

2015 Spring Newsletter

Beyond Money - April 8, 2015 - 15:31

In this issue:

  • Summer in Greece (and elsewhere in Europe)
  • The Greek Debt Crisis, an Opportunity for Innovation
  • California Events
  • African Currency Projects Proliferating
  • Good Reading, Listening, and Viewing

 Summer in Greece (and elsewhere in Europe)

The fates have conspired to draw me back to Greece this coming summer. I’ve recently had a lot of interesting correspondence with people in Europe who are working, in one way or another, on solutions to the intensifying global financial crisis. The eastern Mediterranean seems to be at the leading edge of the global debt tsunami so that’s the place to be.

I have been invited to serve as a Scientist in Residence at the holistic Kalikalos Summer School on the mythical Pelion peninsula near Volos, Greece. I will be there during the periods 12 to 19 June and 10 to 17 July, and possibly some other times in between or after those dates. During the 12-19 June period, Kalikalos will also feature a course, The Big Picture: Toward a new way of relating to self, community and planet, led by Jennifer Hinton and Theoharis Tziovaras, and during the 10 to 17 July period, Jonathan Dawson of Schumacher College (UK) will be offering a course, Economics of Solidarity, in which I will assist. My residency there will provide lots of opportunities for idea sharing and collaboration.

The school’s website describes it as follows: “The Kalikalos living learning centers in Pelion, Greece are dedicated to demonstrating the power of authentic community as a vehicle for building a new holistic world of peace, partnership and sustainability. Our three campuses offer an educational programme of workshops, retreats, workcamps, conferences and living-in-community guest weeks in the summer months that include healing (self, society & planet), creative arts, communication science, and Self-enquiry. For the latest information about the Centres, please subscribe to our bi-monthly newsletter at: www.kalikalos.com/eNews.”

In addition to my stay at Kalikalos, I expect to be spending some time elsewhere in Greece during June and July. Besides Athens and Volos, Crete and Cyprus are also possibilities. At the moment, August is open, but I plan to remain in Europe until early September. My return flight is booked from London, so I will be spending at least a few days in England prior to my departure. As always, I am open to visiting, presenting, and conferring in places along my routes. Proposals can be sent to me at thgreco@mindspring.com.

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The Greek Debt Crisis, an Opportunity for Innovation

Since the January elections there, and in anticipation of my summer visit, I’ve been looking closely at Greece,—researching its history, politics, and economy. A lot of media attention has been given to the new government of the Syriza Party and its populist agenda. Especially prominent in the news has been their new Finance Minister, Yanis Varoufakis who has been wrangling with Angela Merkel and the rest of Greece’s European creditors over restructuring the countries debt and relaxing the austerity conditions that were accepted by the previous administration.

Varoufakis has an impressive background and some unorthodox ideas about how to address the debt crisis that threatens to not only crush Greece, but to unravel the entire Eurozone. He is to be admired for his courage in standing up to the “troika” (the European Commission (EC), International Monetary Fund (IMF), and European Central Bank (ECB)), and for exposing the failures and pretense of the economics profession. Varoufakis’ blog provides links to many of his interviews and presentations, and his book, The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy, published in 2011 and updated in 2013, is now gaining wide attention.

That is not to say that he gets everything right. He may have the right approach to dealing with the immediate crisis of national insolvency, but he seems to be lacking when it comes to understanding the more fundamental flaws of money that is created by banks on the basis of interest-bearing debt, nor does he seem to appreciate the vast potential of innovative exchange mechanisms like mutual credit clearing and private currencies issued by trusted domestic producers.

He has however posted one currency idea on his blog that might be of some help if some features were to be changed. I have posted my suggestions about that as a comment to his post. You can find both his proposal and my comment at http://yanisvaroufakis.eu/2014/02/15/bitcoin-a-flawed-currency-blueprint-with-a-potentially-useful-application-for-the-eurozone/#comment-148955.

Besides accessing many web sources, I discovered, quite by accident in a local bookshop, a new book that is proving to be invaluable in providing me with essential background and insights into how things operate in Greece in the post-WWII era. The book is, The Thirteenth Labour of Hercules: Inside the Greek Crisis, authored by journalist Yannis Palaiologos (Portobello Books, 2014). Reading it has shown me the many dimensions of Greek politics and the domestic and foreign basis of the present crisis. It seems that there is plenty of blame to go around.

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California Events

I will spend the month of May going back and forth between California and the East Coast to visit family and friends. Then in early June prior to my departure for Europe, I will be occupied with events in California. On June 2, I will lead a discussion in Martinez (San Francisco Bay area). This event, sponsored the Mt. Diablo Peace Center and Friendly Favors, is titled, Between the Devil and the Deep Blue Sea: What Greece needs to do to extricate itself from its economic and financial predicament. We will discuss the various options that Greece and other debtor nations might employ, both in dealing with their immediate problem of insolvency, and in rebuilding their sovereign domestic economies. Please see Details and RSVP at the Events page of www.favors.org.

Then, from June 4 thru 7, I’ll be participating in the conference, Seizing an Alternative: Toward an Ecological Civilization, to be held at Pomona College in southern California. This is shaping up to be a huge event with 12 sections and 80 tracks. I’ll be playing a major role in Section 1, The Threatening Catastrophe: Responding Now, Track 6: Political Collapse (http://www.ctr4process.org/whitehead2015/section-1-track-6/). I will be providing input on how the geopolitical order is determined by elite control of money and banking, and outline some promising strategies for empowering people and communities by reclaiming the credit commons.

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African Currency Projects Proliferating

We are finding great cause for optimism as we see successful programs in Africa being replicated and expanded. Will Ruddick and his team are continuing their excellent work, helping people to discover their own power by collaborating to establish exchange mechanisms based on the value of their own production. In a recent message Will reported that, in Kenya and South Africa, they are “in the process of implementing 8 community currency programs effecting [sic] well over 100,000 people.” Building upon their success with the Bangla-Pesa currency in Mombasa and the Gatina-Pesa in Nairobi, they expect these community currency projects will unlock the potential for local producers to greatly expand their trading with each other and to pull themselves up out of poverty. Will says, “We will be launching a 2nd community currency in Nairobi’s slums (Kangemi-Pesa) on April 4th… It will be a large event with marches through that area…These programs represent the foundation of what is rapidly becoming a global movement toward democratic and decentralized monetary systems. Creating resilient networks of markets across Africa is the path toward truly sustainable development”

Will also reports that they “have recently made the move to develop a non-profit foundation called Grassroots Economics to house these programs, and are looking for partners that really understand the seriousness of the monetary problem and the urgent need for community based solutions.” A quick update on the currency projects can be found here.

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Good Reading, Listening, and Viewing

Richard Werner is one of the few academic economists worth listening to. I recently read his

paper, How do banks create money, and why can other firms not do the same? An explanation for the coexistence of lending and deposit-taking. This is an excellent and clear explanation of the accounting sleight-of-hand that enables banks to create deposits (money) without the vast majority of people, even most bankers, realizing what is happening. Of course, many of us in the alternative exchange movement have long recognized that banks do this, but Richard’s explanation of HOW they are able to do this must be compelling even to his academic colleagues. This paper is a very important contribution to the literature of monetary and banking reform and transcendence because it also outlines the positive implications of some small changes in banking laws and regulations that could be made if there were the political will to do them.

Of course, understanding how the flawed money system operates is only the beginning, and political approaches to reform seem very unlikely. That knowledge must be used as a departure point from which to design and implement innovative market oriented approaches to extra-bank exchange. Mutual credit-clearing circles and private currencies spent into circulation by trusted issuers, can be organized by businesses and communities to provide “home-grown” liquidity. To my knowledge, there are at present no major legal obstacles in most countries that would impede such innovative technologies from being widely deployed. The Swiss WIR and the existing commercial “barter” exchanges are imperfect models that provide proof of concept. In the US at least, commercial barter exchanges are officially regarded as “third party record keepers” which are not subject to banking and money transfer regulations.

You might also enjoy viewing the documentary video, Princes of the Yen, which is based on Richard’s book by the same name (subtitled, Japan’s Central Bankers and the Transformation of the Economy). It makes me wonder if there might be a place for directed investment and allocation of credit by central governments in temporarily addressing the worst effects of the European debt crisis (other than bank bailouts, that is).

Students of innovation will be interested in The Innovators: How A Group of Hackers, Geniuses, and Geeks Created the Digital Revolution by Walter Isaacson. The audio version, which I have just finished, held my attention throughout the entire 15 CD set.

Since listening to his Black Swan in audio format a few years ago, I’ve been a fan of Nassim Taleb, so I’m now in the process of listening to his book, Antifragile: Things That Gain From Disorder. This is another work that is both iconoclastic and filled with original ideas. Highly recommend.

Finally, if you really want to understand what’s happening in the world, you need to follow Dr. Paul Craig Roberts, former Assistant Secretary of the Treasury in the Reagan administration. Dr. Roberts is one of the few commentators today who see what is really going on and is willing to tell about it. His recent interview by Greg Hunter is especially timely. View it in my post at BeyondMoney.net.

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Categories: Blogs

Clearing away the fog–Paul Craig Roberts on geopolitics and the American economy

Beyond Money - April 2, 2015 - 10:46

Here is another great interview of Dr. Paul Craig Roberts, former Assistant Secretary of the Treasury in the Reagan administration. I think even the interviewer, Greg Hunter had some scales removed from his eyes. Dr. Roberts is one of the few commentators today who see what is really going on and is willing to tell about it.


Categories: Blogs

Solving the trust/reputation problem with relativity

Matslats - March 24, 2015 - 09:43

There are many attempts afoot to establish a system of reputation to help strangers trust each other on the web, and of course which can't be gamed! Problems with conventional approaches

It is a very tricky question though because reputation is often specific to different aspects of a person's life, and specific to the context in which it arose. So the approach that tries to aggregate existing metrics gives us a lot of information but we might not know what it means. E.g.

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Categories: Blogs

Economy of Hours - B2B timebank

Matslats - March 21, 2015 - 17:25

Just heard Matthew McStravick today talking about Economy of Hours, his widening of timebanking to include local businesses.

Running the Timber Wharf Timebank in Hackney, London, he was frustrated by the limited scope of the project which, following donor priorities, had to focus a single social problem.

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Categories: Blogs

The scam that is the global money system

Beyond Money - March 16, 2015 - 12:20

It is a story that I have told in my own writings and presentations, particularly in my book, The End of Money and the Future of Civilization, but the video below is well worth viewing. I’ve not been a big fan of Glen Beck, and I abhor the Fox network, which I consider to be a propaganda instrument of the global elite, but this particular program is ironically quite good at telling the story of the creation of the Federal Reserve, the banking cartel, and the collusive arrangement between the bankers and the politicians (that pattern was actually established with the founding of the Bank of England in 1694). Beck’s featured guest, G. Edward Griffin, the author of The Creature From Jekyll Island, is particularly astute in his observations. The conversation only goes astray toward the end when it turns to gold backing, a proposal that is based on a still naive conceptualization of what money is and how it works.

Interestingly, Beck was fired by the Fox network shortly after this program aired, presumably for exposing the scam of the elite cabal that Fox is there to serve.


Categories: Blogs

The New Greek Agenda

Beyond Money - February 16, 2015 - 12:11

The Greanville Post has just published what is purported to be the 40 point agenda of the new Greek coalition government headed by the Syriza party that recently won a stunning victory at the polls.

Here is the agenda as reported:

  1. Audit of the public debt and renegotiation of interest due and suspension of payments until the economy has revived and growth and employment return.
  2. Demand the European Union to change the role of the European Central Bank so that it finances States and programs of public investment.
  3. Raise income tax to 75% for all incomes over 500,000 euros.
  4. Change the election laws to a proportional system.
  5. Increase taxes on big companies to that of the European average.
  6. Adoption of a tax on financial transactions and a special tax on luxury goods.
  7. Prohibition of speculative financial derivatives.
  8. Abolition of financial privileges for the Church and shipbuilding industry.
  9. Combat the banks’ secret [measures] and the flight of capital abroad.
  10. Cut drastically military expenditures.
  11. Raise minimum salary to the pre-cut level, 750 euros per month.
  12. Use buildings of the government, banks and the Church for the homeless.
  13. Open dining rooms in public schools to offer free breakfast and lunch to children.
  14. Free health benefits to the unemployed, homeless and those with low salaries.
  15. Subvention up to 30% of mortgage payments for poor families who cannot meet payments.
  16. Increase of subsidies for the unemployed. Increase social protection for one-parent families, the aged, disabled, and families with no income.
  17. Fiscal reductions for goods of primary necessity.
  18. Nationalization of banks.
  19. Nationalization of ex-public (service & utilities) companies in strategic sectors for the growth of the country (railroads, airports, mail, water).
  20. Preference for renewable energy and defence of the environment.
  21. Equal salaries for men and women.
  22. Limitation of precarious hiring and support for contracts for indeterminate time.
  23. Extension of the protection of labor and salaries of part-time workers.
  24. Recovery of collective (labor) contracts.
  25. Increase inspections of labor and requirements for companies making bids for public contracts.
  26. Constitutional reforms to guarantee separation of Church and State and protection of the right to education, health care and the environment.
  27. Referendums on treaties and other accords with Europe.
  28. Abolition of privileges for parliamentary deputies. Removal of special juridical protection for ministers and permission for the courts to proceed against members of the government.
  29. Demilitarization of the Coast Guard and anti-insurrectional special troops. Prohibition for police to wear masks or use fire arms during demonstrations. Change training courses for police so as to underline social themes such as immigration, drugs and social factors.
  30. Guarantee human rights in immigrant detention centers.
  31. Facilitate the reunion of immigrant families.
  32. Depenalization of consumption of drugs in favor of battle against drug traffic. Increase funding for drug rehab centers.
  33. Regulate the right of conscientious objection in draft laws.
  34. Increase funding for public health up to the average European level.(The European average is 6% of GDP; in Greece 3%.)
  35. Elimination of payments by citizens for national health services.
  36. Nationalization of private hospitals. Elimination of private participation in the national health system.
  37. Withdrawal of Greek troops from Afghanistan and the Balkans. No Greek soldiers beyond our own borders.
  38. Abolition of military cooperation with Israel.  Support for creation of a Palestinian State within the 1967 borders.
  39. Negotiation of a stable accord with Turkey.
  40. Closure of all foreign bases in Greece and withdrawal from NATO.

If they are able to pull off even a few of their main agenda items, the new governors of Greece could set a precedent that will likely lead to major power shifts back toward national sovereignty and away form the New World Order along with the breakup or complete restructuring of the European Union.

This is shaping up to be a battle reminiscent of the Battle of Thermopylae in 480 BC, but fought this time, not with weapons of iron, but with innovative systems of money, credit, finance, and organization. -t.h.g.

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Categories: Blogs

Canadian court ruling–a solid punch to the private central bankers?

Beyond Money - February 4, 2015 - 16:10

In the video below, Bill Still reports on a recent court ruling that could, if it is upheld, stagger the global banking cartel.


Categories: Blogs

Is gold money?

Matslats - January 28, 2015 - 09:57

In 2011 after second deluge of Quantitative Easing in the US, congressman Ron Paul challenged Federal Reserve chairman Ben Bernanke asking him, "Is Gold Money"?

Do you know what money is? Have you noticed that there are competing definitions? How could money have become so pervasive in our minds and relationships without being properly defined? How can we improve the technology of money when we don't even know what it is?

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Categories: Blogs

A sociological view of money

Matslats - January 28, 2015 - 08:05

In the process of writing and researching for the forthcoming Money and Society MOOC, Jem Bendell and I learned a great deal about the subject we to were teaching. In Lesson 1 in which we investigate the very essense of money Jem introduced me to Georg Simmel's The Philosophy of Money. Simmel was not an economist, but a sociologist, and his understanding of money runs far deeper than any economist I've read.

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Categories: Blogs

Money and Society: Free university-level online course being offered

Beyond Money - January 20, 2015 - 16:17

A free online course (MOOC) in Money and Society is being offered by Professor Jem Bendell, PhD (IFLAS) and Matthew Slater, under the aegis of the Institute for Leadership and Sustainability of Cumbria University. The four lessons of the course, intended to” explode myths about the history, nature, present and future of money,” will commence 16 February 2015 and conclude 18 March 2015. For details and registration go to http://iflas.blogspot.com/2014/12/money-and-society-mooc.html.

 


Categories: Blogs

Vladimir Putin and the New World Order

Beyond Money - January 14, 2015 - 08:10

Despite the ongoing attempts of the Western media and politicians to vilify him, Russian President Vladimir Putin is showing himself to be a true statesman deserving of international attention and respect. Former Reagan administration official and Wall Street Journal editor Paul Craig Roberts, in a recent post, goes so far as to declare Vladimir Putin Is The Leader Of the Moral World.

Roberts begins his post by commenting as follows:

Dear Friends,

Vladimir Putin’s remarks at the 11th meeting of the Valdai International Discussion Club are worth more than a link in my latest column. These are the remarks of a humanitarian political leader, the like of which the world has not seen in my lifetime. Compare Putin to the corrupt war criminal in the White House or to his puppets in office in Germany, UK, France, Japan, Canada, Australia, and you will see the difference between a criminal clique and a leader striving for a humane and livable world in which the interests of all peoples are respected.

In a sane Western society, Putin’s statements would have been reproduced in full and discussions organized with remarks from experts such as Stephen F. Cohen. Choruses of approval would have been heard on television and read in the print media. But, of course, nothing like this is possible in a country whose rulers claim that it is the “exceptional” and “indispensable” country with an extra-legal right to hegemony over the world. As far as Washington and its prostitute media, named “presstitutes” by the trends specialist Gerald Celente, are concerned, no country counts except Washington. “You are with us or against us,” which means “you are our vassals or our enemies.” This means that Washington has declared Russia, China, India, Brazil and other parts of South America, Iran, and South Africa to be enemies.

This is a big chunk of the world for a bankrupt country, hated by its vassal populations and many of its own subjects, that has not won a war since it defeated tiny Japan in 1945 by using nuclear weapons, the only use of such terrible weapons in world history. ….

Read the rest of Roberts’ post and the full text of Putin’s speech at http://www.paulcraigroberts.org/2014/10/25/vladimir-putin-leader-moral-world-paul-craig-roberts/

This RT report gives some highlights of the speech:

And this video purports to provide a summary of the main points that Putin made in that speech:

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Categories: Blogs

Fwd: [New post] Bitcoin: The Political ?Virtual? Of An Intangibl

New post on IJCCR [http://0.gravatar.com/blavatar/e876bc9b5f8c89d41a78d1172407014f?s=32&ts=1366371469]
Categories: Blogs

December 31, 1969 - 17:00
Categories: Blogs, Economics