So…I went to check in at the geoengineeringwatch.org site, and found a commenter left a quote by Paul Craig Roberts. He asserts that the economy is more of a threat than terrorists….so I went to Roberts’ website and found a compelling article on electronic banking. All of my worst fears of cyber-funds are voiced by Roberts. Keep in mind that Roberts is not a “libtard” as some uncharitable folks have called them, but a conservative whom has had his eyes opened.
From the report:
The response of depositors to negative interest rates has resulted in neoliberal economists, such as Larry Summers, calling for the elimination of large denomination bank notes in order to make it difficult for people to keep their cash balances outside of banks.
In the electronic world, control of your money is given to banks. As we saw recently with Dr. Tracy, paypal froze his account for no reason at all. They claimed the “nature of your activities” was reason enough for them to withhold HIS money.
Electronic money cannot be removed from bank deposits except by spending it. With electronic money as the only money, financial institutions can use negative interest rates in order to steal the savings of their depositors.
…and there we go. Remember when people used to rob banks? Now banks robbed people.
What this picture shows is that government, economists, and presstitutes are allied against citizens achieving any financial independence from personal saving.
Exactly. I explored this with Indiana’s treatment of food stamp recipients. They would start taking away food stamp dollars for every $100 a person made in A MONTH. That money would pay for gas to even get to work, for extra food (because believe me, it is not enough money for an entire month of food), for haircuts, for necessary items like soap, detergent, trash bags (I saw folks so poor that they were using the plastic grocery bags for their trash), and for other items needed for every day life.
Throughout the Western world the financial system has become an exploiter of the people and a deadweight loss on economies. There are only two possible solutions. One is to break the large banks up into smaller and local entities such as existed prior to the concentration that deregulation fostered. The other is to nationalize them and operate them solely in the interest of the general welfare of the population.
I would say that there is a third and possible fourth option: 1. Bartering. Doing away with currency altogether. 2. Either continue to use paper currency, or as some communities did during the Depression, they made up their own currency and traded it like dollars until the banks relented. Doing a quick research, I found this: Berkshares — a created currency.
I love this:
BerkShares are printed in 1, 5, 10, 20, and 50 BerkShare denominations, and feature images of local people.
- The 1 BerkShare note uses a portrait of a Mahican, the original inhabitants of the area.
- The 5 BerkShare note uses a portrait of W. E. B. Du Bois, a civil rights leader born in Great Barrington.
- The 10 BerkShare note uses a portrait of Robyn Van En, co-founder of the community supported agriculture movement at Indian Line Farm in South Egremont, Massachusetts, died in 1997.
- The 20 BerkShare note uses a portrait of Herman Melville, the author of Moby-Dick, written in Pittsfield, Massachusetts.
- The 50 BerkShare note uses a portrait of Norman Rockwell, a painter who lived in Stockbridge, Massachusetts
This has more benefits than just being independent as hell, but that it seeks to make a more sustainable economic impact by limiting truck traffic via local purchasing.
Treehugger also has a piece up on local currency.
With all the dire news on the economic collapse, I think it’s important to realize all is not lost and there are options …don’t give in to fear, but see it as an opportunity to break away from the Big Banks’ chokehold on the economy. If they don’t have any power, they no longer can rule. We need to learn to take back our power.
Personally, of all of these, I like bartering the best. I think money no longer holds a true value of the hours of labor it took to earn that dollar. Bartering has that quality…BUT I recall that when this was done, there are those that were taken advantage of and so that could also mean not getting the true value of one’s labor. As I write that, I’m thinking of women’s efforts…like sewing and knitting. Today, as well as then, women were not given the true value of their labor. Without machines, it took much longer to create a garment. Even now, a machine cannot create. It cannot put pieces of material together without a human doing the actual physical act of putting piece A with piece B, and so on. It’s always been valued less than men’s work.
So…unless economies and creation of currency have women’s input — and by saying that, I mean women who would do the actual work –then there won’t be a true representation of labor efforts. Women need to be a part of the discussion.