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Devoted to the liberation of money and credit, and the restoration of the commons
Updated: 2 hours 15 min ago

CBS Sunday Morning report-Creating new wealth on Sardinia, without cash

August 7, 2017 - 08:50

This recent report on the popular TV show, CBS Sunday Morning, highlights the effectiveness of direct credit clearing among buyers and sellers of goods and services–a way of doing commerce without the need for money or banks.

See also my own report from my 2015 visit to Sardex.


Categories: Blogs

Human self-domestication or human extinction?

July 30, 2017 - 15:34

The final segment in today’s episode of Radio Lab (New Normal?) on NPR Radio was a fascinating report on domestication of wild animals, specifically foxes. By selective breeding of the few foxes who did not exhibit avoidance behavior (fear) when approached by humans, a Russian scientist was able, in ten generations, to produce docile domesticated foxes.

This naturally raises the question about the possibility of domesticating human to be less aggressive and more empathetic. In fact, the anthropological evidence suggests that since we began living in settled groups, the human species has long been undergoing a process of self-domestication, this perhaps as a necessary adaptation for living together in harmony. That idea, together with Steven Pinker’s argument that humans are becoming less violent (The Better Angels of Our Nature: Why Violence Has Declined), gives me cause for hope that humanity will not extinguish itself from planet Earth.

On the other hand, the fact that power is today so concentrated in the hands of a global elite who, by their threatening behavior and objectives of domination, seem not to have sufficiently evolved in that way, is cause for worry. That raises other questions: how can they be prevented from acting irrationally or how can the levers of power that they control be disabled or overridden?–t.h.g.


Categories: Blogs

What can history teach us about the present?

July 24, 2017 - 11:47

Is there a science of history? Are there patterns in human affairs that tend to repeat themselves? Can we understand what is happening in our time by studying the past? These are questions that have intrigued me for a long time. Based on my study of systems, networks, political economy, and human behavior, my conclusions tends toward the affirmative in each case.

Based on his book, 1177 BC: The Year Civilization Collapsed, Prof. Eric Cline, in this fascinating lecture, looks back more than 3,200 years to describe the collapse of an earlier “global” civilization.  He presents evidence of an elaborate trading network around the Mediterranean which was composed of what he calls “the G8 of the ancient world.”

Here is a portion of the description from the YouTube channel:
“From about 1500 BC to 1200 BC, the Mediterranean region played host to a complex cosmopolitan and globalized world-system. It may have been this very internationalism that contributed to the apocalyptic disaster that ended the Bronze Age. When the end came, the civilized and international world of the Mediterranean regions came to a dramatic halt in a vast area stretching from Greece and Italy in the west to Egypt, Canaan, and Mesopotamia in the east. Large empires and small kingdoms collapsed rapidly. With their end came the world’s first recorded Dark Ages. It was not until centuries later that a new cultural renaissance emerged in Greece and the other affected areas, setting the stage for the evolution of Western society as we know it today. Professor Eric H. Cline of The George Washington University will explore why the Bronze Age came to an end and whether the collapse of those ancient civilizations might hold some warnings for our current society.”

On the same general topic, Ian Morris, Professor of History at Stanford University, in his lecture Why the West Rules — For Now: The Patterns of History, and What They Reveal About the Future, points to the same primary factors that lead to the collapse of civilizations.

Mass migration
Epidemic diseases
State failure
Famine
Climate change

Historically, each collapse had been followed by a “dark age.” Is that what’s in store for us in our time? View the full lecture at https://youtu.be/wnqS7G3LmMo.


Categories: Blogs

What can history teach us about the present?

July 20, 2017 - 10:18

Is there a science of history? Are there patterns in human affairs that tend to repeat themselves? Can we understand what is happening in our time by studying the past? These are questions that have intrigued me for a long time. Based on my study of systems, networks, political economy, and human behavior, my conclusions tends toward the affirmative in each case.

Based on his book, 1177 BC: The Year Civilization Collapsed, Prof. Eric Cline, in this fascinating lecture, looks back more than 3,200 years to describe the collapse of an earlier “global” civilization.  He presents evidence of an elaborate trading network around the Mediterranean which was composed of what he calls “the G8 of the ancient world.”

Here is a portion of the description from the YouTube channel:
“From about 1500 BC to 1200 BC, the Mediterranean region played host to a complex cosmopolitan and globalized world-system. It may have been this very internationalism that contributed to the apocalyptic disaster that ended the Bronze Age. When the end came, the civilized and international world of the Mediterranean regions came to a dramatic halt in a vast area stretching from Greece and Italy in the west to Egypt, Canaan, and Mesopotamia in the east. Large empires and small kingdoms collapsed rapidly. With their end came the world’s first recorded Dark Ages. It was not until centuries later that a new cultural renaissance emerged in Greece and the other affected areas, setting the stage for the evolution of Western society as we know it today. Professor Eric H. Cline of The George Washington University will explore why the Bronze Age came to an end and whether the collapse of those ancient civilizations might hold some warnings for our current society.”


Categories: Blogs

What in the world is going on? — Part 3

July 20, 2017 - 08:20

George Friedman, professional geopolitical analyst, founder of STRATFOR and author of The Next 100 Years: A Forecast for the 21st Century seems quite knowledgeable about history and the current status of military and economic power around the world.  In the following presentation he talks about U.S. strategy over the past 100 years and “the real interests of the United States.” He argues that the powers that control U.S. foreign policy have one overriding fear, which is “a united Eurasia”–“Our primary interest is to make sure that Russia and Germany do not form an entente,” neither by conquest nor agreement.

He observes that “Eurasia is now in complete chaos,” Russia and China are both weakening, and that Japan, Turkey, Poland are on the rise. He admits that “We staged the coup in Ukraine.” Regarding the Middle-East, he says “it will come down to Israel, Iran, Saudi Arabia, and Turkey to work it out.”

He believes (or claims to) that the U.S. intervention in Libya was ethically motivated, but I find that hard to believe. The evidence of the past century of U.S. interventions around the world shows quite clearly that ethical and humanitarian motivations provide mere cover for quite different  objectives. In the case of Libya, I believe that the attacks by the U.S. and NATO forces, and the murder of Muammar Gaddafi, had more to do with keeping Libya within the global debt money regime than with rescuing the Libyan people from the clutches of a “brutal dictator.”–t.h.g.


Categories: Blogs

Aaron Schwartz, revolutionary genius

July 15, 2017 - 11:50

I could not help but be moved by watching this documentary about the life and death of Aaron Schwartz. Aaron fought for justice and for open access to the information commons. We all owe him a great debt of gratitude.


Categories: Blogs

Trump resists pressure from the war mongers; makes friends with Russia

July 12, 2017 - 12:24

The meeting between Donald Trump and Vladimir Putin at the G20 Summit was encouraging in its length, breadth, and outcomes. The western mainstream media propaganda machine has been relentless in its barrage of allegations, innuendo, and hype against Russia in the elite’s attempt to rekindle the cold war and corral every nation into the global debt-money regime that is their greatest lever of control.

President Trump seems to have thrown a monkey wrench into the works on that, but it  remains to be seen how far his administration will be allowed to get out of line before the rug is pulled out from under him—one way or another. This article by Israel Shamir on the Global Research website provides a thorough account and analysis of the Trump-Putin meeting. And this article by Finian Cunningham about the reaction from the US Deep State, is also worth reading. -t.h.g.


Categories: Blogs

“The Big Lie” and the tragedy of Europe –Yanis Varoufakis blows the lid on Europe’s hidden agenda

July 2, 2017 - 02:33

In this interview, former Greek finance minister, Yanis Varoufakis, outlines the nature of the 2008 financial crisis, the reasons for the program of “quantitative easing” and the irrational actions of the western European leaders. The fundamental point he seems to miss is the debt growth imperative that is inherent in today’s global money system, the underlying fact that keeps everyone trapped in a system that is driving the whole of civilization toward disaster.


Categories: Blogs

The war against cash continues apace

June 24, 2017 - 04:36

Thanks to Michael Nevradakis for his excellent article, How Greece Became A Guinea Pig For A Cashless And Controlled Society, that recently appeared in Mint Press News.

The world has long been heading toward a neo-feudal world order headed by a global elite that uses its control of money, banking and finance to fleece and disempower the masses. Georgetown Professor and Bill Clinton’s mentor Carroll Quigley, told us 50 years ago that:
“The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations. Each central bank . . . sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world.”
––Prof. Carroll Quigley, Georgetown historian, mentor of former President Clinton, and author of Tragedy & Hope: A History of the World in Our Time, 1966, p. 324.

To anyone who cares to look, it is clear to see how that precise agenda has been playing out over the past several decades, and what the end state will be. The war against cash is a logical next step in achieving the plan that Quigley outlined. I strongly urge the reader to study Nevradakis’ entire article here.


Categories: Blogs

Democratizing capitalism

June 23, 2017 - 02:16

Cutting Edge Capital’s Vice-President Brian Beckon provides a crash course on investing and community development, and describes how ordinary people can invest some of their savings in local profit-making ventures that conform to their values. The strategies being worked out by his firm are aimed at creating healthier, more resilient and self-reliant communities while enabling small investors to earn a share of the profits generated by businesses that they believe in and wish to support. Approaches like these are essential to building a more democratic and equitable economy. Listen here.


Categories: Blogs

Greece workshop starts Friday

June 11, 2017 - 09:12

The start of our workshop, Monetary and Financial Innovation for the New Economy, is just a few days away but there is still space available and enough time to make travel arrangements. Here are some additional details about what you can expect from the experience.

The workshop leader will provide enough structure to focus attention and direct the inquiry but leave room for creativity, individual research, and the spontaneous emergence of innovative designs, plans, and implementation strategies. That structure will include:

  • The fundamental concepts upon which the exchange process and capital formation are based.
  • Critical examination of present and past alternatives.
  • The various aspects that must be addressed in design and deployment of exchange and finance innovations.

Everyone will play an active role in an intensive process of inquiry, discovery, sharing and collaboration aimed at:

  1. achieving a deeper understanding of the principles of currency, credit, finance, and the exchange process, and,
  2. developing action plans for the design and deployment of robust systems that can be widely proliferated and quickly scaled up to global dimensions.
  3. assembling a knowledge base that can provide guidance toward achieving more equitable and sustainable structures for value exchange and finance.

As the week progresses, teams may be formed to dig deeper into particular aspects of design and implementation and to develop action plans. Besides Exchange and Finance, the realms of our inquiry will include Change, Innovation, Processes, Systems, and Networks.

Depending on the needs and interests of the participants, the focus of our attention will be on definitions and principles related to some of the following topics:

  1. The essence and role of money
  2. Banking
  3. Reciprocal Exchange
  4. Liquidity
  5. Monetization
  6. Basis of issue, backing, and
  7. Credit
  8. Alternative currency models
  9. Credit clearing and “offset”
  10. Value measurement and units of account
  11. Saving and investment; value storage and capital formation
  12. Intermediation and disintermediation
  13. Usury and interest
  14. Demurrage
  15. Inflation, deflation, and currency debasement
  16. Depressions. The nature and causes of economic depressions.
  17. Exchange Networks
  18. Inter-trading across trade exchanges; Balance of payments/trade.
  19. Broader implications of innovative exchange mechanisms.
  20. Implementation and proliferation of innovative exchange mechanism.

And, there will be plenty of time to enjoy the beach and Greek village life.

Further details and booking are at http://www.kalikalos.com/community/x/exchange-finance-new-economy-thomas-greco/

If finances are a problem, application for discounts may be made by writing to Rachel Davson at rachaeldavson@gmail.com.

Looking forward to working with you,

Thomas


Categories: Blogs

What in the world is going on? — Part 2

June 7, 2017 - 10:00

Paul Craig Roberts has been inside and outside of the U.S. Government. He served under President Ronald Reagan and was a colleague of Zbigniew Brzezinski at the Center for Strategic and International Studies, where Roberts occupied the William E. Simon Chair in Political Economy. He has had a unique vantage point from which to observe over his long career the dynamics of power and global developments. His website is a treasure trove of commentary that provides clear insight into what in the world is going on.

His recent post, Washington’s Empire Is Not Unraveling,  argues that despite president Trump’s recent actions, the military-industrial-financial complex remains firmly in control and the agenda of “full spectrum dominance” is still on track.

He points out that, with the help of the mains stream media, “Americans and the world are blinded to the fact that there are power centers that constrain a president and are capable of substituting their agendas for the agendas on which the president campaigned.”  Read the full article here.

And for insights into how the global financial system is malfunctioning, in addition to David Stockman, whom I mentioned in Part 1, you also need to follow Chris Martenson via his website, Peak Prosperity. In this video, https://youtu.be/E1g57mjGcGc he talks about the massive inflation of money that has characterized recent actions by three major central banks, the Federal Reserve, the Bank of Japan, and the European Central Bank. All three have been furiously “printing money” which they use to buy securities, thus creating asset bubbles–not a good sign for long-term prospects.


Categories: Blogs

How to Bring Liquidity Into an Economy, Free of Interest, Inflation, and Boom and Bust Cycles

June 2, 2017 - 10:52

Abstract
Most economies suffer from a lack of liquidity, especially outside the large corporate and government sectors. This lack of means of payment (liquidity) is a fundamental cause of unemployment and failures of small and medium sized businesses (SMEs). It generally derives from flaws that are inherent in the centrally controlled systems of money and finance and the increasing indebtedness of both the private and public sectors. The surrender of monetary sovereignty by national governments to central banks, and to currency unions, such as the Euro, and their increasing indebtedness, as in  as in the case of Greece, have made it virtually impossible for their economies to thrive.

This article describes how domestic or community liquidity, i.e., means of payment, that enable the process of reciprocal exchange of value, can be created by various entities at various levels, from communities and business associations, to municipal governments and agencies, to national governments. The main obstacles to their implementation are not economic, but organizational and political, yet there is still considerable leeway within which the value of local production can be monetized in the form of circulating private currencies and trade credits created within associations of buyers and sellers. This article describes how that can be done.

Read the complete article here.

This subject will be the main focus of my upcoming workshop in Greece, 16-23 June. You still have time to register and space is still available.


Categories: Blogs

Escape from prison and oppression

May 18, 2017 - 11:07

In this video below, Professor Jem Bendell of Cumbria University (UK) interviews South African Tim Jenkin about his anti-apartheid work in the 1970s and his more recent alternative exchange activities. Jenkin briefly recounts how he assisted the African National Congress (ANC) in their struggle to end apartheid, work that resulted in his 1978 imprisonment and subsequent remarkable escape. The escape story is soon to be made into a major motion picture, “Escape From Pretoria,” that will star  Daniel Radcliffe in the role of Tim Jenkin. The film is scheduled to begin production on location in South Africa in early 2018, but you need not wait to get a detailed account of the escape, you can read Jenkin’s autobiography, Inside Out: Escape from Pretoria Central Prison, or view the existing documentary film, also titled, Escape from Pretoria.

Later in the interview, Jenkin describes his more recent efforts to demonstrate how people can make a similar escape from the bondage of political money and the global debt-money regime by means of a simple ledger system that records the value of what people give and receive from one another. His Community Exchange platform  currently hosts 921 local exchanges in 86 countries.


Categories: Blogs

What in the world is going on?

May 2, 2017 - 11:37

Here is a presentation titled, War and Peace in the Age of Trump, by former Congressman and Budget Director in the Reagan administration, David Stockman, in which he points out some “inconvenient facts” and explains “the warfare state” and the “false narratives” that it promotes to shape public opinion.

Among other things, Stockman point out that there is no existential threat to the United States that would justify the massive U.S. military-industrial-intelligence complex, the policy of regime change, and interventions in the Middle-east, Africa, and all around the world. Even the the recent acts of terrorism and the refugee crisis in Europe are blowback from the mayhem that the U.S. and NATO have been unleashing in those regions.

Edit: Paul Craig Roberts adds some further important details to the picture.


Categories: Blogs