President Hoover: “Prosperity is just around the corner.” (not)
Stiglitz: “It was Hoover’s politics allowed the great recession to get as big as it was.”
“A country faces an economic and political abyss: the government is on the brink of bankruptcy and pursues fierce austerity policies; public employees take huge pay cuts and taxes are drastically increased; the economy slumps and unemployment rates explode; people fight each other on the street while banks collapse and international capital flees the country. Greece in 2011? No, Germany in 1931.” (src The Guardian)
“What is particularly fatal is that an ever-growing number of young people have no possibility and no hope of finding employment and earning their livelihood. Despair and the political radicalization of the youthful section of the population are the consequences of this state of things…”
(speech by von Papen, German Chancellor, to the Lausanne Conference of 16 June-9 July 1932. Printed in Documents on British Foreign Policy, Second series, vol. 3 197-201.)
“25% loss on wall street in one day, they kept falling 21 day, afterwards they regained 30%.”
“A crash of 50% is apocalypse.” 1929 80% was lost.
More and more Banks crashed – which resulted into a Bank-run.
Downward spiral: “Suddenly the banks are not able to lend money – the people are not able to buy houses – thats what is leading into recession.”
Workers are fired because companies do not get loans to pay the workers.
Companies get closed and even more people get fired.
People try to save money because of fear of joblessness – even more companies close down.
Until the whole economy collapses – it takes some time.
From today to tomorrow people lose trust into the system.
End of a dream.
Will the managers, the CEOs, the Banksters, the Bushs, the Rockefellers, the Junkers, the Clintons, the Merkels, the Scheubles, the JPMorgans, the Barclays, the Deutsche Bank, the Wall-Street listen? Or will they shut their ears – and do “business as usual” knowingly they can not continue forever. “Ignorance is DEATH not bliss.”
From this Video:
Interview with Bernard Lietaer – Economist, author and professor
This interview is part of an article published in the online magazine Talkin’Business of the School of Business and Economics at Maastricht University.
Read more: http://www.talkinbusiness.net
Multiple moneys and development: making payments in diverse economies
Title: Interview with Bernard Lietaer – Economist, author and professor
Recording date: 20th June 2013
The 2nd International Conference on Complementary Currency Systems is held from the 19th to the 23rd of June 2013 in The Hague, The Netherlands. The conference is hosted by ISS. It offers space to academics, local government officials and practitioners alike to organize panels, workshops, and other session formats that participants see fit to stimulate the exchange of ideas and experiences.
Community and complementary currency systems include initiatives like the LETS, time banks, the Argentine Redes de Trueque, the Ithaca Hours in the USA, the German Regiogeld, the Brasilian community banks with surrogate currencies, the SOL currency in France, the ‘Transition Towns’ in the UK, the RES in Belgium and the Wir in Switzerland, mobile-phone payment systems in Uganda and Kenya, and for digital remittances in El Salvador.
- The Future of Money (London: Random House, 2001)
- New Money for a New World (Qiterra Press 2011) (with Stephen Belgin)
- Hallsmith, Gwendolyn; Lietaer, Bernard (2011-05-28). Creating Wealth: Growing Local Economies with Local Currencies. New Society Publishers. ISBN 978-0-86571-667-4.
- Money and Sustainability: The Missing Link / A report from the Club of Rome (with Christian Arnsperger, Sally Goerner and Stefan Brunnhuber)(Triarchy Press 2012)
- People Money: The Promise of Regional Currencies (with Margrit Kennedy and John Rogers) (Triarchy Press 2012)
- Money and Sustainability: The Missing Link (with Christian Arnsperger, Sally Goerner and Stefan Brunnhuber), Triarchy Press Ltd, 30. May 2012, ISBN 978-1908009777