Knowledge is power

24 04 2009

Since it’s so much fun quoting people who were famous and are dead now, here is another great one:

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”

(Henry Ford)


Here we go again …

13 04 2009

“Everything is lost for a country when the jobs of a banker and an economist become highly respected professions.”

(Montesquieu, French philosopher, 1689-1755)

“Obama is just a facelift for the Neocons”

1 04 2009

By Economicsfairy

I’m afraid I can’t spare you this, it’s a MUST WATCH, only 20 min altogether and answers a lot of questions:

THE MEN BEHIND OBAMA (part 1) (part 2)

The historian Webster Tarpley about what’s going on behind the scenes while Obama is showing us his big wide friendly smile.

I quote:
“The people in Europe had better wake up: The silly romantic illusion they have about Obama is gonna be suicidal for them.”

And I’m afraid it doesn’t seem to be conspiracy rubbish, it seems to be true.

So watch out and get yourself informed about the great project that is supposed to guarantee a continuing US-British hegemony and that the nice Obama is supposed to sell to us.

Don’t let yourself be fooled by a pop president who was “made” like pop bands are made these days and who is just a puppet of the finance capital, the people who are really in charge of our pseudo democracies.

Against the Economic Mainstream: Criticism and Alternative Ideas

1 04 2009

By Economicsfairy

So far I have only found German economists and thinkers who believe that our current economic system is doomed and that there are other options available. I hope that if you google long enough you’ll find some English translations of the books, speeches and interviews.

– Prof Bernd Senf (Berlin) is quite popular in the German media at the moment. He is one of the few who can explain the deep flaws of the interest rate system.

Interview about the causes for the current crisis (unfortunately, in German):

– there is also Prof. Wilhelm Hankel (Frankfurt), an expert on currencies. He thinks that the Euro was a big mistake and has also added to the current trouble.

– Prof. Margrit Kennedy (website in English, yes!)

She is a real treasure because she believes that there are other ways to organise our economy, with “Interest and Inflation Free Money” (one of her books)

This is what she says on her website:

“Money allows the exchange of goods and services and, in doing so, becomes one of the most ingenious inventions of humankind.

However, few people understand how money functions. If they did understand, we would have a quite different monetary system immediately – one which would bring more social justice, better opportunities for a healthy environment and higher stability of currencies. Dealing with this subject is really worthwhile.”

Please check all this out – and find people who are working along the same lines from other parts of the world. Would be great to have all these valuable links on our website.

It’s charging interest, stupid – important comment

1 04 2009

By Katkins

Great analysis D but the new money created by an interest rate can be supported in the economy if it is constantly expanding and growing exponentially.  This is where the imperative for growth in our global economic system comes in.  When the economy stops growing at the necessary rate then things get really problematic (as you describe).  And we also have to recognise that our earth has limits to the resources that it can supply and the waste that it can assimilate, which means that constant and ever expanding growth is certainly not an option.
A new report by the sustainable development commission in the UK tackles the problem of growth…

In a sustainable, stable state economy, interest rates would be low.  and there would inevitably have to be regulatory instruments to ensure that lending was limited.  The problem with this is that the cost of borrowing can no longer act as a way of rationing the credit.

We need to find an alternative to our destructive ways and that has to happen now. We watch the deliberations of the G20 with interest today.

Economicsfairy: A very interesting comment, thanks – I was thinking about this myself, but at the moment I believe we need to design an economic system without interest, must be possible somehow.

Will update you on people who are thinking about this very shortly.