One of the founding principles of the Transition Movement is the
concept of 'sticky money' preventing a flight of capital from
localities. It is time for us to take back our communities and to create
financial self sufficiency as far as that can be achieved. In previous
posts I have written about local currencies in the UK like the Bristol
pound for example.
In the first video I've posted here we have a glimpse into the Pennsylvania Public Bank project which gives an opportunity for local savers and investors to avoid big Wall Street fraudsters like JP Morgan Bank and the most reprehensible outfits like Goldman Sachs etc ad nauseum.
Professor William K Black author of The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry (2005) is an expert on corporate fraud and white collar crime “JP Morgan’s frauds are epic in scale, unprecedented in world history," says Black and he goes on to observe. . . "in these $23 billion we’re talking about, these are frauds that made Jamie Dimon and other senior officers incredibly wealthy by creating fictional income that led to very real bonuses.”
In the first video I've posted here we have a glimpse into the Pennsylvania Public Bank project which gives an opportunity for local savers and investors to avoid big Wall Street fraudsters like JP Morgan Bank and the most reprehensible outfits like Goldman Sachs etc ad nauseum.
Professor William K Black author of The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry (2005) is an expert on corporate fraud and white collar crime “JP Morgan’s frauds are epic in scale, unprecedented in world history," says Black and he goes on to observe. . . "in these $23 billion we’re talking about, these are frauds that made Jamie Dimon and other senior officers incredibly wealthy by creating fictional income that led to very real bonuses.”
There is however,
something we can do about this greed and criminality at a local and a
regional level, establishing a public bank is one of them as the
Bank of North Dakota demonstrates admirably.
In order to progress the development of accountable financial institutions as a way of undermining the broken zombie capitalist global economy, financial expert Ellen Brown is standing in California (the world's eighth biggest economy) for the position of State Treasurer on a Green Party ticket.
All people of goodwill can only wish Ellen the very best of luck in taking this strategic position and halting the progress of Wall Street and the Federal Reserve scam meisters.
Meanwhile here is some backround. In a week when economic guru George Soros has warned that China is now in much the same economic position as the US was in 2008 before the crash and is now the biggest threat to the continued existence of global capitalism, the jitters is an appropriate response. Soros is like the angel of death so far as national economies are concerned, so China needs to be worried I think.
Nevertheless this warning comes as a timely reminder that the only really meaningful solution to these problems lie locally and beyond the reach of the despicable banksters who have stolen everything from the people to feather their own tax avoidant nests.
In order to progress the development of accountable financial institutions as a way of undermining the broken zombie capitalist global economy, financial expert Ellen Brown is standing in California (the world's eighth biggest economy) for the position of State Treasurer on a Green Party ticket.
All people of goodwill can only wish Ellen the very best of luck in taking this strategic position and halting the progress of Wall Street and the Federal Reserve scam meisters.
Meanwhile here is some backround. In a week when economic guru George Soros has warned that China is now in much the same economic position as the US was in 2008 before the crash and is now the biggest threat to the continued existence of global capitalism, the jitters is an appropriate response. Soros is like the angel of death so far as national economies are concerned, so China needs to be worried I think.
Nevertheless this warning comes as a timely reminder that the only really meaningful solution to these problems lie locally and beyond the reach of the despicable banksters who have stolen everything from the people to feather their own tax avoidant nests.
A taste of what is possible in the wreckage of capitalist collapse the next video is a message of hope from the near ghost town of Detroit once the capital of the US automotive industry. It is about sticky money, localised economies and the resilience of the human spirit in the face of catastrophe and economic collapse.
This short film illustrates the concept of spontaneous order and self-organisation and provides a glimse of the world after the fall of globalism and the final defeat of the self-styled new world order and the corporate class whose greed and psychopathic violence has dealt so much damage to the world around us.
For a little bit of optimism in the seemingly endless gloom caused by the Wall Street dodgy banking mafia and their hangers-on, here is a tale of resilience and creativity from the ruins of Detroit, a testament to sticky money as a thousand enterprises bloom (to misquote Mao Zedong) in an urban wasteland that looks like something from a disaster movie, almost inconceivable as a reality let's say 5 years ago. Detroit was declared bankrupt on December 3 2013,
with debts totalling $18.5 billion and the city is now under the governance of the state of Michigan.
It is amazing to me that something like public banking has not caught on in more parts of America, AA, especially in the wake of the Great Recession. America has long has, at least in prosperous times, an anti-elitist sentiment as far as programs from Washington are concerned. The difficulty is to take that sentiment and apply it to those who have been pulling strings in the nation's capital, the banksters themselves and their toxic profit-hoarding and taxpayer-sponsored crash bailout schemes.
ReplyDeleteThanks also, AA, for the update on Detroit slowly regenerating itself. To call Detroit a "gritty city" is not gilding the lily that is for certain. It will take both the local people, and those new arrivals who see opportunity where others only see despair.
Thanks for your comments here Doug. I suppose the question about the low prevalence of public banking in the US and here is really what's stopping it? There can in my mind be no doubt that a criminal underclass runs the mainstream financial institutions and therefore the offices of state in a large swathe of the world, perhaps pretty much all of it? So it was never a level playing field for public banking anywher in the degraded capitalist hegemonic virtual empire otherwise termed here as "Greater Bilderbergia". However, this empire has cracks and fissures in it, it is a creaking crumbling (human)rat infested warren of sickness, evil and corruption to use rather old testament sounding language for its rhetorical impact.There are 'green shoots' but they are not where the Kleptocrats tell us they are, there is no recovery possible for a liberal capitalist democracy of the sort we were transfixed by in the latter half of the 20th century. Welfare capitalism is as dead a culture as the Minoans, the Aztecs or Romans now are, a past epoch never to return, which is fine because it never did live up to its overblown boasts about the arrival of Affluent Society in the 1960s and so on. A spirit is alive in the world that is changing it, whether we see it as cultural, spiritual or political the new economics is transforming the world from below, this has been a glimpse into bits of the process in America, steps on the way to a world that hopefully will one day be free of organised crime as the only form of 'legitimate' authority. Thanks Doug for your input.
DeleteHi Aaron, I've not been online recently and have to say, I've missed your input, I just don't see this sort of argument any place other than online. Its ironic really that the single issue now most likely to derail the Scottish independence movement it 'money'. It begins to feel like bully boy tactics, Scotland can't have a currency of its own ( we are told) because; as a new currency there would be no credit rating etc etc, No one doubts that Scotland actually has the resources, trade, will, etc to be independent, and more and more people in Scotland want independence, but the stumbling block comes from outside of Scotland. People, banks, international corporations etc outside of Scotland control the worlds money, and they ( collectively) are putting real pressure on Scotland to remain within the union. Scotland is told there is no guarantee of remaining within sterling or joining the euro and a new Scottish currency wouldn't be accepted by the international banks. That seems pretty much like blackmail to me. You're right, those who control the worlds money control every thing. Good luck to all those local currency projects and self sufficiency projects, lets hope the movement spreads and somehow weakens to hold the banks have over the rest of us.
ReplyDeleteHi Loretta its good to see you back on Blogger. You are of course right the UK government is trying to bully and sabotage any chance of Scottish independence with scare tactics and disingenuity. The overwhelming lesson I think that emerges out of this is that the UK is a three headed one-party state completely irrelevant to the needs of the people of these islands. The UK government is acting against the best interests of the Scottish people and also the best interests of everyone else in this outdated marriage of convenience. The so-called unelected, unmandated UK "government" is a regime of fantasists and liars they govern nothing in reality and are just meglomaniacs on the make from sponsors in Washington, Wall Street, big business and organised crime syndicates.
ReplyDeleteCan Ukraine reinvent itself?
Well yes according to these very same weasel politicos who have shown their true colours in bed with each other on the Scotland Question. Labour/Tory/Lib Dem there's not a hair's breadth between them, they are no good for Scotland and no good for England either. They are servants of alien interests that are not in the best interests of the people of this country in the slightest degree and must be opposed and neutralised, they should be excised from Scottish politics and also politics south of the border
English independence is the most important domestic issue on this side of the border, we are far behind the Scots in that we don't have our own parliament, but we are also behind the Welsh and Northern Irish because neither do we have a national assembly attending to our specific needs and interests. Whatever the Westminster politiicans think they are achieving in seeking to halt the forward march of Scotland, the independence issue has strengthened our campaign for an English parliament. While they play their little games with the SNP we are undermining the political landscape in their own constituencies as we type, always campaigning for home rule for England.
When they eventually wake up to this fact they might have a bit of a shock :-)
In the meantime I will continue to give unstinting support to Scotland's independence and use that campaign for a springboard for an English parliament and English independence from the UK, unfit for purpose and now long past its 'use by date' .
There is only one way to deal with bullies, so I trust the Scots as a people will not be intimidated by a few limp wristed banksters molls and their mafia minders.
By the way the arguments about the pound are completely fallacious anyway, there has been monetary union between Belgium and Luxemburg for decades since the end of WWII. It is therefore a long established EU fact, these politicis are spouting rubbish, as per usual.
re the last point, yeah..........Belgium and Luxemburg aren't the only countries to share currency. Out of sheer curiosity I looked it up once and apparently there are several successful examples of shared currency throughout the world, ( actually can't remember them now without looking it all up again) there are also many examples of small Islands being split into different independent countries. We are told so many lies and the amount of bullying and media manipulation that's going on now to keep Scotland within the union is sickening. I agree with you in that I think this is the opening the English Independence movement needs maybe that's why the government are so keen to stop it.
ReplyDelete