The International Institute of Monetary Transformation   [ click to return to main site ]   subscribe
Apr
01

Disintegrating Antarctica and carbon-based international monetary system

Post By gaia1 in Climate crisis

 During the last couple of weeks new research by two American ice sheet specialists has shown that the IPCC projection of the disintegration of the Antarctic ice sheet was heavily underestimated. The editorial of the New York Times of April 1  lists the many other contributing  reasons for a warming planet.

The faster than projected disintegration of Antarctica and the ongoing melting of Greenland ice sheet and glaciers worldwide makes projected rises in sea level double within the next hundred years. The consequences of this grim reality and looming catastrophe are well-known. What we need to deal with this enormous threat is a comprehensive conceptual, institutional, ethical and strategic approach, demanding an extraordinary level of international cooperation for this extraordinary looming calamity.

One such approach is presented in Verhagen 2012 "The Tierra Solution: Resolving the climate crisis through monetary transformation" where the unjust, unsustainable and, therefore, unstable international monetary system is to be transformed by basing it on a carbon monetary standard of a specific tonnage of CO2e per person. Updates of this carbon-based international monetary system can be found at www.timun.net.

Except for some, mostly Republican opposition and negligence the USA is taking some leadership in climate cooperation. The US could also taking leadership in transforming the unjust, unsustainable and, therefore, unstable international monetary system by moving away from the US dollar as international transaction currency to an expanded SDR facility and finally to a single currency as part of a monetary architecture that is based upon a carbon monetary standard of a specific tonnage of CO2e per person. Tackling the international monetary system in this way could be a next phase in the political revolution of Senator Sanders.