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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. 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 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.”