Feasta Currency Group members believe that community (or public) banking could form a central component of a healthy future Irish economy. There is an urgent need to expand this sector in Ireland in order to help protect the Irish economy from debt-related financial risk, stimulate community development and help bring about the transition to a growth-neutral financial sector.
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.
Graham Barnes argues that the misallocation of credit by banks exacerbates instability and inequality, and results in the neglect of projects that aren't profitable. He proposes two possible solutions.
Banks create money out of nothing when they extend loans and then charge borrowers interest on this newly created capital. The result is an ongoing multi-billion pound/ dollar subsidy breaking the basic rules of capitalism. What is perhaps even more surprising is that there appears to be no explicit description of the 'bargain' underlying this important arrangement. By Graham Barnes.
This article by Graham Barnes looks at three of the most poisonous aspects of Mainstream Money from the perspective of a currency designer exploring new money-forms.
As the 99% become progressively aware of embedded unethical and unfair systemic values, might monetary disengagement become a key part of a trend to separate and distance ourselves from the mainstream economy – a Great Separation? By Graham Barnes.