Bernard A. Lietaer on Monetary blind spots and structural solutions 1v5

http://coveringthecrisis.eu/

Speaker: Bernard A. Lietaer, Research Fellow, University of California
Title: Monetary blind spots and structural solutions

Covering the Crisis generated two days of intense interaction and fruitful debate between leading global players from the world of financial journalism. Fresh insights were offered, new connections were made, experiences were shared and innovative ideas were generated.

Category:

People & Blogs

Tags:

• EJC
• european journalism centre
• financial crisis
• conference
• brussels

[CosmicFork]

When I took my first economics course at University, my teacher said, "Economics is the study of people competing for scarce resources." He was wrong. We're not "competing for scarce resources," we're competing for the money, to get at the resources! Our economy has created an environment in which, because there is a single currency, the national currency, which is the ONLY monopoly of exchanges that you're dealing with, you're basically depriving vast numbers of people of a scarce resource.

[jum401]

why isn't this video popular? should have 231.000 views, not just 231... (jan. 4 2010)

[Judginit]

I always wondered what happened to Jim Royle

[saintveil]

There's a similar article pointing out that the game theory mathematics to determine risk were flawed, didn't account for faulty ratings and other frauds.

[optivite]

Spirits incarnate, living as humans in our midst; moving openly & freely, yet undetected by the masses, or even their hosts. Like the spasms of a decapitated body, the fact of the matter, thats precisely what it is; if you really think about it. Their illusions are many, which overtake the sleepwalking masses. Now know that they do take flesh & walk among men, to mold a new species. PuppetMasters, the supersession of humanity. Die young & stay pretty. It's just a message for the stoke: SaintVeil

[0PsycoDad0]

@optivite OMG!

He´s NOT talking about CDO and/or the "benefits" of these but of a sensible alternative! He just repeated FACTS. Told the story as it HAPPENED! Also CDS are not harmfull per se, GET IT! The world is not black and white...

[optivite]

@0PsycoDad0 - Debt transferred and sold as derivatives, to chumps, and making billions in profit on the transaction. Exotic currency trades using fictional exchange rates, AIG insured. Quote: "We just bailed out the banks and put all the debt on the sovereigns who were already straining under massive debt. Then the sovereign debt (public debt) is being sold back to the banks which sometimes cover it with CDS."

[0PsycoDad0]

@optivite LOL!

Will you plz spread your paranoia on AJ loonie vidz?

[optivite]

@jum401 - Because he is wrong. He doesn't realize that Govt is taking a free ride, prints and spends cash, money tree, without regard. The govt cooks the books, debt is flushed, forgotten, forgiven, where only the upper class practice the same. Accounting fraud, cook the books, mark to market, and shifting/selling bad debt to dummy corps which are then bankrupted to legally and painlessly dump bad debt. Banks & investors still holding toxic debts will do the same ;)

[0PsycoDad0]

@jum401 It will just give it some more months.

Now at 1872 (sep. 24 10)

[CosmicFork]

The money system that we have invented, i.e.~ the Bank-Debt Money System, which is the national currency system. For the system to function, the currency has to be scarce, and has to be maintained in scarcity. The job of The Central Bank is to create, and to maintain the scarcity of the currency. If they don't do this, the currency becomes valueless, and stops functioning. (Continued Below...)

[CosmicFork]

Now, of course what that means is that you have the whole ugly competition for the scarce resource that's there; we have the competition for the artificially scarce dollars, or euro's, or whatever, National Bank-Debt Money. This is the paradigm we are living with, a total monopoly of Bank-Debt Money. That is the thing that nobody questions... it has to be a monopoly, and it has to be Bank-Debt Money. Why? A dual currency system would be much more beneficial to a larger number of people.