I helped RHD set up their Equal Dollars currency back in the late 90′s. Here is a recent report about it from CNN. Sorry about the annoying commercial at the beginning.–t.h.g.
How I buy groceries without cash – Video – Personal Finance.
I helped RHD set up their Equal Dollars currency back in the late 90′s. Here is a recent report about it from CNN. Sorry about the annoying commercial at the beginning.–t.h.g.
How I buy groceries without cash – Video – Personal Finance.
I don’t take seriously the words of politicians, nor do I pay much attention to the quadrennial presidential election charade. The outcome is decided well in advance of the presidential primaries by the power that be. The mainstream media coverage becomes almost laughable when you notice how the networks contort themselves to make an establishment puppet look like a viable candidate while ignoring anyone who might represent popular interests and real change. That is ably illustrated by this video:
And this article by Patrick Martin helps us to read between the lines of Obama’s speech and understand the dismal state of American government. It is clear that whomever occupies the White House next term, and whichever party controls Congress, WE THE PEOPLE will get no help from Washington. In fact, as David Stockman told us about a year ago, the federal government has become “a fountain of harm.” It is up to WE THE PEOPLE to rebuild American democracy and take back control over our lives, working from our communities on up.–t.h.g.
Obama’s State of the Union address: War and wage-cutting
By Patrick Martin, 25 January 2012
The State of the Union Speech delivered by Barack Obama Tuesday night was memorable only as a further milestone in the decay of American democracy.
While billed in advance by the White House and media pundits as a “populist appeal” by the Democratic president, effectively kicking off his reelection campaign, there was virtually nothing in the speech that even acknowledged the acute social crisis in America, let alone offering any solution.
The annual presidential addresses to a joint session of Congress have taken on an increasingly empty and ritualistic character—the same empty phrases, the same perfunctory ovations, the same gimmick of individuals placed in the First Lady’s box to serve as cameos, the laundry list of proposals, either insignificant or overtly reactionary, the sickening appeals to national unity and militarism.
Four years after the official onset of recession, three years after the biggest financial collapse since the Great Depression, the US economy remains mired in slump and the world economy is rapidly approaching a new cataclysm. Yet neither Obama nor his Republican opponents can acknowledge the overriding fact being experienced by hundreds of millions of working people: the desperate crisis of the capitalist system.
The Wall Street crash of 2008 plunged the country into a social crisis: mass unemployment, increasing poverty, the collapse of local and state government budgets, the shutdown of public services, the spread of hunger and homelessness. Yet for both Obama and the Republicans, the only solution proposed is to increase the profits of American corporations at the expense of the working class. Every so-called “job-creation” measure proposed by Obama was, in reality, a tax break or government subsidy for corporate America.
Obama’s speech not only glossed over the causes and consequences of the 2008 collapse, but entirely avoided any mention of the mushrooming financial crisis in Europe, which threatens to break up the euro zone, with incalculable consequences for the US and world economy.
The axis of Obama’s speech was his invocation of the auto bailout as the greatest vindication of his economic policies. “This blueprint begins with American manufacturing,” he said. “On the day I took office, our auto industry was on the verge of collapse… In exchange for help, we demanded responsibility. We got workers and automakers to settle their differences.”
By “responsibility” Obama was referring to the White House demand that auto workers take a 50 percent pay cut, along with the destruction of tens of thousands of jobs, major cuts in pension and health benefits for retired workers, and a ban on strike action, cementing the role of the United Auto Workers union as the company police force inside the plants.
While auto workers paid the price, the auto bosses reaped the profits. “Today, General Motors is back on top as the world’s number one automaker,” Obama boasted, “the American auto industry is back.”
He continued with the following extraordinary words: “What’s happening in Detroit can happen in other industries. It can happen in Cleveland and Pittsburgh and Raleigh.” This statement should be taken as a threat to the jobs, living standards and democratic rights of every worker in the United States.
While Obama invokes the success of “Detroit,” the city is bankrupt, with poverty and unemployment over 50 percent, widespread foreclosures and utility shutoffs, and a city government committed to scrapping entire neighborhoods and returning large sections of the former manufacturing capital of America to farmland.
The state government is contemplating the installation of an emergency manager who would suspend local government, rip up union contracts and rule by decree. Detroit has become a synonym, not only in America but worldwide, for urban collapse and social misery. This is what Obama offers to workers in “Cleveland and Pittsburgh and Raleigh.”
Besides these remarks, there was much political boilerplate and ballast. The section of the speech described as “populist” in the corporate-controlled media amounted to a few paragraphs out of an address of more than one hour. Obama declared, “We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by. Or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules.”
He made a brief reference to the 2008 financial crash, admitting that the banks were to blame, mainly for the purpose of excusing himself and his administration of responsibility. The president then announced that he had just ordered the attorney general—four years after the fact—to “expand our investigations into the abusive lending and packaging of risky mortgages that led to the housing crisis.” This election-year stunt will likely send no Wall Street CEOs to jail. It will fool only those who want to be fooled.
Obama emphasized that his social policies on education and health care were based firmly on the capitalist market and reiterated his commitment to further drastic cuts in social spending. He cited the deal he reached last summer with House Speaker John Boehner to slash funding for Medicare and Social Security in return for slightly higher taxes on the wealthy, which was derailed by opposition from the House Republican caucus.
Equally ominous and reactionary were the brief opening and longer closing sections of the State of the Union speech devoted to foreign policy. Obama began and ended the speech by invoking what he clearly regards as his trump card, the assassination of Osama bin Laden by a team of US Navy Seals.
Obama hailed “the courage, selflessness, and teamwork of America’s Armed Forces.” He continued: “At a time when too many of our institutions have let us down, they exceed all expectations… They focus on the mission at hand. They work together. Imagine what we could accomplish if we followed their example.”
The president repeatedly beat the drums for economic nationalism, focusing particularly on China as an alleged practitioner of predatory trade practices.
In the course of a long paean to American military strength and foreign policy “successes” like the overthrow and murder of Libyan ruler Muammar Gaddafi, Obama cited “the enduring power of our moral example.” Actually, under Obama even more than Bush, America is identified with a policy of global thuggery and murder, carried out by drones, death squads and hired assassins.
In his conclusion, Obama returned to his vision of a society run along military lines when he again invoked the raid that killed bin Laden. For Barack Obama, the cohesion of a team of trained assassins is the highest form of human solidarity.
# # #
According to the Associated Press, federal negotiators are close to concluding a deal with major banks that would essentially forgive them of crimes committed in connection with the mortgage crisis. You can read the story here, and a critique of the proposed settlement here: Obama Is on the Brink of a Settlement With the Big Banks—and Progressives Are Furious.
In the midst of an economic downturn sharing and cooperation become even more important than usual. If I’m right, our present situation is more than a cyclical downturn, it is the beginning of a fundamental economic readjustment triggered by peak debt, peak oil, peak pollution, etc… The limits to growth have been reached and we will not grow our way out of this predicament.
It seems we are now entering the chrysalis stage of societal metamorphosis, which means that familiar structures on which we’ve been dependent are breaking down. This runs the gamut from money and banking to health care, food and energy systems, education, government and law, and even religion.
As we undertake the necessary community based restructuring, it is essential that we find ways to make sure that everyone’s basic needs are taken care of and that positive developmental projects get the support they need. Alongside the deployment of moneyless and bankless systems of reciprocal exchange, it is essential that we also enhance the structures of the gift economy. More than giving to the usual charities, this means doing what we can to satisfy the needs that we see all around us. Give or share what you have, it need not be money. Most of us have more stuff than we use, and much more than we need.
But wise use of our monetary resources is still important. I recently discovered a new website called givv.org that allows you to designate a fixed amount to donate every month, and to distribute it amongst any number of recipients that you name. You can thus give small amounts and avoid getting on mailing lists that inundate you with appeals for further donations. You can watch a three-minute video here.
If you missed it, you can consult my list of Financing Alternatives, which also includes some other creative ways of giving.
And be sure to read the story about Mali’s Gift Economy in Yes! magazine.
Judge Napolitano’s video clip is not about Ron Paul, it’s about America’s entire political predicament.
The important thing to remember is that there is no leader who can remedy the situation for us. It’s up to you and me. Find your own way to help make this a happier, more peaceful world.–t.h.g.
This upcoming webinar promises to describe what may be a good model for organizing and funding local enterprises that contribute to local self-reliance and sustainability, plus providing ways to secure your savings in investments that will have lasting real value–t.h.g..
Webinar Speaker:
Lynn Benander of Co-op Power and Northeast Biodiesel
Date and Time: Tuesday, January 10 at 10am PT, (11am MT / 12pm CT / 1pm ET)
Coop Power
About the topic:
Maybe you know that cooperatives use their shared ownership structure and member fees to fund the cooperative itself. Join BALLE to learn how Co-op Power – a consumer-owned energy cooperative serving southern New England and eastern New York – is stretching the bounds of the cooperative structure and yielding amazing community capital returns in the process.
Co-op Power’s Local Organizing Councils have:
Raised more than $300,000 in member equity, $600,000 in member loans, and $850,000 in local investment to support the development of community-scale clean energy projects.
Worked together to support a growing number of new living economy enterprises, like a 3-million gallon biodiesel processing plant.
Created more than 100 jobs over just five years.
Focused on working with communities of color and limited resource communities to build a multi-class, multi-racial movement for a sustainable and just energy future.
Explore this cutting-edge use of cooperative structure for going beyond member equity to finance local businesses and create new jobs – and how you can put the cooperative model to work in your community.
Learn more about our speaker and her organizations here.
How to use BALLE’s Accelerating Community Capital Webinar Series
Gather with others from your area to participate in a “viewing party” for each Accelerating Community Capital webinar.
Hold a discussion group afterward to investigate how your community can apply what you learn.
Groups can participate using just one member’s registration!
Hear firsthand about the best models working right now that you can replicate where you live.
Ask the presenters the questions you need to build local investing in your area.
In a new article titled, Reinventing Money – A Community Exchange System from South Africa Conquers the World, Tim Jenkin describes the development and operation of the Community Exchange System (CES) which he founded in 2002. Beginning as a single local credit clearing exchange, CES has evolved into a global network of more than 340 local exchanges distributed over 34 countries.
“The CES web site is just a tool for managing exchange groups, for keeping accounts and for advertising. Each group administers itself and has its own rules and conditions of use. This keeps the overall system democratic and provides the basis for a multitude of separate but interacting local economies. Some groups base their unit of value on the national currency while others use time (e.g hours or minutes)… The long-term vision of CES is to democratise the entire network.”
“The CES has been operating for nearly nine years now and, though it is still minuscule compared to the global financial system, has demonstrated that it is as versatile as the conventional money system, and indeed more efficient in many ways. It caters to fairly large volumes of trade, permits international trade, provides an extremely efficient means of tax collection through an optional transaction levy, handles multiple conversion rates seamlessly and clears accounts instantaneously.”
While the CES prototype needs some refinement, it provides an operational “proof of concept” for the creation of a locally controlled, yet globally useful system of exchange that transcends the dysfunctional interest-based, debt-money system that is driving the world to destruction. I fully agree with Tim’s conclusions that:
“In the new era of declining energy and other natural resources, the global economy is inevitably going to have to contract. The debt-based money system looks increasingly unstable in the current low-growth environment and definitely cannot operate in a steady state or degrowth environment. A new exchange system that operates something like CES will be needed. Such an exchange system simply reflects the economic situation, it does not drive it. When interest is removed as a factor in exchange, the growth imperative is removed along with the debt bondage that most of us live under.
Extraction mechanisms such as speculation, derivatives, securitisation, hedging and other casino-like activities that allow a parasitic class to skim off the wealth of a society are also excluded. The decentralisation of control and lack of opportunities to hijack the exchange system for private gain will return the money power to ordinary people. No longer will those who currently control the financial system be the ones who decide where society puts it efforts and how it allocates its resources.
The realisation that money is information and not real stuff is hugely liberating because it means that a local community can create its own exchange system and not be dependent on the dysfunctional global one that is driving humanity to the brink of disaster.
This has all been made possible by our ability to share information on the internet. Local communities should jump at the opportunity to be able to define and control their own destinies instead of allowing financial institutions and governments to do it.”
I encourage all to read the entirety of Tim’s article. You can read it online or download the pdf file here.–t.h.g.