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“Since 2007, I have been concerned that the world financial crisis of our time, could cause a similar human catastrophe as in 1929 – and this concern has grown steadily over the last 10 years – especially since the financial crisis in Europe has been nationally charged – Germans against Greeks – North Europeans against South Europeans – all of us in Europe will only be well off – if we work together to solve problems – not if we are against each other” (Green Party, Dr Gerhard Schick)

“Seit 2007 treibt mich die Sorge um, dass aus der Welt-Finanzkrise unserer Zeit, eine ähnliche Menschheitskatastrophe entstehen könnte wie aus der Welt-Finanzkrise ab 1929 – und diese Sorge ist in den letzten 10 Jahren ständig gewachsen – besonders seit die Finanzkrise in Europa national aufgeladen wurde – Deutsche gegen Griechen – Nord-Europäer gegen Süd-Europäer – uns allen in Europa wird es nur gut gehen – wenn wir die Probleme gemeinsam lösen – nicht wenn wir uns gegeinander stellen” (Green Party, Dr Gerhard Schick)


1929-everyone-thought-this-would-go-on-forever“Panic is a humming noise” 😀

President Hoover: herbert_hoover_in_1918 “Prosperity is just around the corner.” (not)

Stiglitz: “It was Hoover’s politics allowed the great recession to get as big as it was.”

debt-crisis-bank-run-a-crowd-gathers-at-the-darmstaedter-and-national-bank-in-berlin-after-the-bank-suspended-payments-in-1931-photograph-associated-pressA 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…

van-papen-power-addicted-idiot-politician-in-favor-of-hitler-he-himself-ex-chancellor-of-a-dictatorship-great(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.

Time to wake up.


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

Published on Jul 2, 2013

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:

Multiple moneys and development: making payments in diverse economies

2nd International Conference on Complementary Currency Systems (CCS), International Institute of Social Studies (ISS) of the Erasmus University, The Hague, The Netherlands.

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.



Other Interviews taken by

Henk van Arkel