We were very sad to learn of the death on February 4 of Bernard Lietaer, a leading monetary reformer who had a great influence on members of Feasta’s currency group. He was the author of The Future of Money and Money and Sustainability: the Missing Link. Our good wishes go out to his family and friends. …
This gathering brought together people from many countries and different walks of life to consider how we can best stabilise our increasingly rocky and ecologically toxic global financial system. Report by Caroline Whyte.
The fact that most money is created on a basis of debt is putting hidden, but dangerous, pressure on the biosphere, argues Caroline Whyte.
Graham Barnes identifies five sources of credit creation and suggests some ways in which we could privilege the most desirable ones and discourage the others.
"Ireland’s policymakers exist in an insulated bubble; congratulating themselves on reducing the debt-GDP ratio and high employment due to the sleight of hand of low corporate tax rates, " writes Tim Clarke. He argues that Ireland is hugely vulnerable to a global financial crash triggered by net energy decline, coupled with rapidly rising extreme global debts and many other factors: "Talk of a 'Celtic Phoenix' excites dull short memories, and another property bubble is in the making."
This book is well worth reading if you're interested in how the Eurozone got into such a mess, although it ignores a very important source of financial instability - the relationship between money and energy - and it paints an overly rosy picture of the role that the US has played in the global economy over the past century. By Caroline Whyte.