Category Archives: Prescriptions

Spring Update

Dear friends,

It’s high time for us to reclaim the credit commons and I need your help.

I will be traveling to Europe this suTG_meme_2mmer to push forward the movement toward complementary currencies and moneyless exchange, and to preach the “gospel” of decentralized credit-clearing networks.

So far, I’m slated for speaking engagements, workshops, and consultations in the Netherlands, Sweden, the UK and Greece. There may be room to add other stops to the tour so if you want to organize an event, contact me and we’ll see what fits!

Right now however, I need YOUR help to cover the lodging and travel costs. Please help spread the word about my Crowdfunding campaign to your networks! Share this image meme and the campaign link: http://igg.me/at/tomstour/.

We have thus far received $1207 from 21 very generous donors. My sincerest thanks to everyone who’s pitched in already and to those who help me achieve this goal by pledging and sharing!

Thomas

P.S. In case you missed my Spring, 2013 Newsletter, you can find it here.

Spring Newsletter–Crowdfunding our work

2013 – Spring  Newsletter

In this issue:

Crowdfunding my 2013 Summer tour

Articles and Projects

  • New chapter with Prof. Jem Bendell is now published and online.
  • My new article in IJCCR.

Recent events & Presentations

  • Money & Life.
  • DEBTx prsentation

Crowdfunding my 2013 Summer tour

I’m pleased to announce that I’ve been invited to the EU and UK for a multi-stop tour on the power of currency for people and communities. My itinerary is still evolving but so far I am slated for presentations, workshops and consultations in the Netherlands, Sweden, England, and Greece. I will be hosted for a few days by STRO (Social Trade Organization, then attend the 2nd International Conference on Complementary Currency Systems in the Hague, where I will make a presentation titled Reinventing Money: How Complementary Currencies and Mutual Credit Clearing Can Create a Sustainable, Regenerative Economy, and sit on two panels: The Future of Currencies, and another which will consider the legal and regulatory aspects of complementary currencies.

As you’ve probably noticed, travel is becoming increasingly expensive. The CCS organizers will be providing a travel allowance, but it will not be enough to cover even my trans-Atlantic flight, much less living expenses and travel to other stops on my tour. That is why I have launched a Crowdfunding campaign on Indiegogo to help cover the costs of this tour. I need $4,000 to make it to all the places on the tour and cover the costs of food and lodging. I hope you’ll help me make that goal by going here: http://igg.me/at/tomstour/x/31801 and chipping in whatever you can. Please also help me get the word out and share the link with your networks! Thank you!

This is an investment in a sustainable future and, as Swami Beyondananda says:  “It’s time to shift our karma out of reverse and get our assets in gear.”

As a quick reminder, on my previous tour last October I gave a total of 15 presentations and workshops to various groups in three different countries. If you’d like a review, you can read my brief report of that tour on this site, here.  Your help with this Indiegogo campaign will make all the difference in building on that success and extending this good work to other communities in need! Here’s that link again: http://igg.me/at/tomstour/x/31801. Thanks in advance for your support in getting me to all these exciting engagements and spreading the word about the campaign!

______________________________________

Articles and Projects

Following our participation last October in the International Sustainability Summit at the European Sustainability Academy in Crete, Prof. Jem Bendell and I decided to collaborate on certain projects. One of these was to co-author a chapter for a new book, The Necessary Transition: The Journey towards the Sustainable Enterprise Economy, edited by Malcolm McIntosh. Our chapter titled, Currencies of transition: Transforming money to unleash sustainability, is now online and can be downloaded here. This chapter elaborates on topics I covered in the anthology, The Wealth of the Commons, which I announced previously. You can find that chapter on this site, here.

My newest article, Taking Moneyless Exchange to Scale: Measuring and Maintaining the Health of a Credit Clearing System, has just been published in the International Journal of Community Currency Research (IJCCR). Go here to download it. This article provides some very important guidance for operators and organizers of credit clearing systems like LETS and commercial trade exchanges. Please take the time to give it your attention.

______________________________________

Recent events & Presentations

In March, Katie Teague’s documentary film, Money & Life, in which I make an appearance, premiered in Tucson at the historic Fox Theater. That event also included short presentations by myself and Bernard Lietaer (with Jacqui Dunne). The mayor of Tucson, Jonathan Rothschild, was on hand to introduce us.

In April, I gave a presentation at the DEBTx conference that was held at the University of Michigan Law School. My presentation titled, Debt, Interest, and the Growth Imperative, was delivered remotely from Tucson via Skype, which worked very well. I’m told that the presentations were recorded and will soon be posted to the web, but I don’t yet have the link. It may appear at http://www.law.umich.edu/multimedia/Pages/default.aspx.

______________________________________

Finally, I’d like to remind you that if you sign up to follow me on Twitter or Facebook, you’ll be notified every time I add a post to this site (which isn’t that often, so you won’t be overwhelmed). And please check out our campaign on Indiegogo. Your support will be greatly appreciated and all donations are tax-deductible through NEST, Inc.

Wishing you a pleasant Springtime,

Thomas

How did Iceland recover? Report from Davos

In this three-minute interview, Iceland’s President Olafur Ragnar Grimson explains that their recovery from the economic crisis was based on actions that went against the orthodox prescriptions–Let the banks fail, introduce currency controls, provide support for the poor, don’t push austerity measures. Why are banks the “holy churches of the economy?”

Money Malfunction, and What We Can Do About It

We have in Professor Jem Bendell a very competent spokesman for monetary transformation. This video hits all the right points, provides all the right answers, and gives viewers some direction for positive action.

Reclaiming the Credit Commons

Following my participation in the Commons Conference in Berlin two years ago, I was asked to contribute a chapter to an anthology titled, The Wealth of the Commons: A world beyond market & state.

This book is a “new collection of 73 essays that describe the enormous potential of the commons in conceptualizing and building a better future.” At long last, the English edition has now been published and can be ordered from Leveller’s Press.

I think this chapter is one of the most succinct and information-rich essays I’ve ever written, so I’ve posted it here on this site. You can download the pdf file here: Reclaiming the Credit Commons.

It is also available in Greek here. and in French here or at Ecoattitude –t.h.g.

Debunking economic growth

Herman Daly is one of the few academic economists who talks sense. He has been a staunch advocate of sustainable development and steady-state economics. Here is an excerpt from his recent article. –t.h.g  

Eight Fallacies about Growth

by Herman Daly

One thing the Democrats and Republicans will agree on in the current U.S. presidential campaign is that economic growth is our number one goal and is the basic solution to all problems. The idea that growth could conceivably cost more than it is worth at the margin, and therefore become uneconomic in the literal sense, will not be considered. But, aside from political denial, why do people (frequently economists) not understand that continuous growth of the economy (measured by either real GDP or resource throughput) could in theory, and probably has in fact, become uneconomic? What is it that confuses them?

Read the full article here.

Liars for LIBOR: Betrayal of the public trust, one more chapter

News of another mega-scandal broke last week reveling again the corrupt nature of the global system of money and banking. In the video below, former New York State Governor and Attorney General, Eliot Spitzer discusses the LIBOR scandal with investigative reporter Matt Taibbi. According to Wikipedia, LIBOR stands for “The London Interbank Offered Rate.” It isthe average interest rate estimated by leading banks in London that they would be charged if borrowing from other banks.” The LIBOR has wide ranging effects on the rates that ordinary people must pay on various types of loans. Falsification of LIBOR results in higher costs for everyone and illicit profits for big banks.

E. C. Riegel had an answer to the money problem, which he summarized in the following brief essay. The word valun is one he coined, which stands for “value unit,” and he pronounced val-yoon. My own work has been greatly influenced by Riegel, and my prescriptions for a decentralized, locally controlled network of interest-free credit clearing exchanges draws from and extends Riegel’s proposals (See my book The End of Money and the Future of Civilization).

I Am the Valun by E. C. Riegel

I am the valun, the universal money unit.

My mission is to unite all men on the economic plane, regardless of their political differences, and to enable them to govern government.

I bring to trade a common language and thus make commerce homogeneous.

I liberate the artisan and the trader from political money control and thus defeat authoritarianism.

I deny to government the power to finance war without the people’s direct and conscious financial support and thus fortify their will to peace.

I facilitate trade, induce technological improvement, increase wealth and leisure.

I conserve the profit motive in the production of wealth but deny it in the creation of money.

I am the creature and servant of every man who would render service useful to his fellows.

From his pen I spring, but by the monetary exploiter or the state I cannot be generated.

I am homogeneous because I am homo-generated.

I guarantee to everyman freedom to labor and the full rewards thereof with preservation of his right to freely choose his vocation and with full respect for the dignity of his personality.

I am the implement of freedom, prosperity and peace to all men throughout the world.

I am the surprise weapon against the enemies of private enterprise and human rights — the friend of the individualist, the foe of collectivist.

 #     #     #

New interview now available

On Tuesday, May 22, I was the featured guest on Jay Taylor’s program, Turning Hard Times into Good Times. The interview titled, The End of Money as We Know It and the Future of Civilization, was recorded and is now available for listening on this site. Find it in the sidebar to the right under My Interviews, or click here. You can also find it archived on the Voice America website at, http://www.voiceamerica.com/Show/1501

Food, population and climate change: Where are we headed and what can we do?

Here’s an excellent video that packs a lot of information into six short minutes, and does it in a way that is clear and comprehensible. It’s a good example of effective communication that I hope we can emulate to describe the problem of money, banking, finance and debt. — t.h.g. 

Toward a sane economics

This TEDx video by Peter Joseph, creator of the Zeitgeist movies series, contrasts two opposing economic frameworks that need to be considered in transcending our present global predicament. He shows that the entire incentive structure of the dominant paradigm of political economy is all wrong, and outlines some of the necessary attributes of a sustainable earth-friendly economy.

The presentation does not get into the how-to-do-it, but provides a good starting point for working out the necessary transition to what I’ve been calling “The Butterfly Economy. My basic prescription for that involves radical sharing, collaboration, restructuring, and rebuilding our society from the bottom, on up, household to neighborhood, to community, to bioregion, including all of our non-geographic affinity groups. Begin with the people and businesses you already know and trust.

Please take ten minutes to view the video.