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Nov
22

After Brexit and Trump

Post By gaia1 in TFD system

William S. Cohen, a former Republican senator and secretary of defense and Gary Hart, a former Democratic senator and presently chairman of the International Security Advisory Board, which advises the State Department, advise Mr. Trump not to go nationalistic and remind him of the important work done after WW II. http://www.nytimes.com/2016/11/22/opinion/dont-retreat-into-fortress-america.html. They conclude: “Wise leaders such as Truman, Eisenhower, Marshall and Acheson constructed a temple in which freedom could thrive and economies could prosper. The interior of the temple may be in need of renovation, but Mr. Trump should not pull apart its central pillars and bring it crashing down.”

We are going through a liminal period where old verities and institutions are basically questioned and new ones have not yet emerged. The neo-liberal order of the Bretton Woods system is under attack and rightly so because of its production of a global disorder of inequality that to a great extent is caused by the unjust, unsustainable and, therefore, unstable international monetary system.

A new world order is to emerge based upon an integrated sense of social and ecological justice, similar to the integrated values of the Earth charter. Using this vision, leaders in government and civil society can start discussing and developing a new international financial and monetary system that would work in this climate-constrained century.

The financial systems of the world’s nations are to be liberated from privately owned banking systems and be mostly based upon a money creation system that is not debt-based. The trillions needed for climate and development are to be publicly created and managed. The global monetary system can be based upon a monetary standard of a specific tonnage of CO2e per person. The conceptual, institutional, ethical and strategic dimensions of such carbon-based international monetary system are presented in Verhagen 2012 "The Tierra Solution: Resolving the climate crisis through monetary transformation" and updated at www.timun.net. Bill McKibben said of this proposed global system: The further into the global warming area we go, the more physics and politics narrows our possible paths of action. Here’s a very cogent and well-argued account of one of the remaining possibilities.”  

 

Nov
11

Resistance and boldness after the Trump election

Post By gaia1 in American Monetary Matters

 Resistance and boldness are needed in these climate-constrained and liminal times where the Trump Administration has almost unlimited power to take the wrong direction, not only in respect to the looming climate catastrophe but also in respect to world governance where winning is to be superseded by cooperative relationship. Wherever possible, resistance to the wrong direction by various  levels of government and private, for profit and non-profit, is paramount during these next four years and this resistance has to start now, particularly in respect to the appointments to transition team.

At the same time boldness is needed to develop a vision that can work after four disastrous Trump years. Such vision could include a radical transformation of both the global financial and monetary systems. The world has to be weaned from the privately owned banking systems, going beyond Dodd/Frank in the direction of public banking where banks with 100% reserves would become utilities, thus  unable to create money.

The world could also start discussing basing the unjust, unsustainable and, therefore, unstable international monetary system on a carbon standard such as a specific tonnage of CO2e per person. The conceptual, institutional, ethical and strategic dimensions of these two radical transformations are presented in Verhagen 2012 "The Tierra Solution: Resolving the climate crisis through monetary transformation" and updated at www.timun.net. Bill McKibben stated the following about this carbon-based international monetary system on May 17, 2011: The further into the global warming area we go, the more physics and politics narrows our possible paths of action. Here’s a very cogent and well-argued account of one of the remaining possibilities.”