Tag Archives: Amish

Newsletter May 2021. Upcoming podcast series on “Our Money System,” and other news

In this issue:

  • Upcoming podcast series
  • Conversation with Tim Jenkin, Edgar Cahn, et al
  • Latest post–How, Then, Shall We Live? — What we might learn from the Amish
  • Markets and finances in today’s world
  • U.S. foreign policy, the primary threat to peace
  • Travel plans

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Upcoming webinar series

I will be conducting a free three part webinar series for the Henry George School of Social Science. Here is the description and registration link:

Our Money System – What’s Wrong with it and How to Fix it
A critical look at money & credit, their political and economic implications, and innovations that are making conventional money obsolete.

About this event

HGS_WebinarIn this webinar series, renowned monetary reformer Thomas Greco Jr., will present our system of money and banking, how it has evolved, why it is problematic, and where it is trending. The series will also look into past, present, and future exchange and payment alternatives, like Depression-era script, local and private currencies, commercial trade exchanges and LETS systems that apply the “credit clearing” process, and the more recent emergence of crypto-currencies and blockchain ledgers and their potential role. It will include discussion of how these have evolved, their advantages, limitations and future potential and what needs to be done to take them to scale.

The speaker, Thomas H. Greco, Jr., is the author of The End of Money and the Future of Civilization. For more than 40 years Mr. Greco has been studying, writing and lecturing and advising on the subjects of money, exchange, and political economy. His distinctive insights into these subjects and his innovative approaches to a more equitable and sustainable economy have made him a sought after speaker and advisor worldwide. His full bio can be viewed here.

Topics

  • WHAT is money?
  • WHY do we need money?
  • WHAT is wrong with our money system?
  • Can we live without money?
  • How can business be conducted without money?
  • What are the economic, social and political implications of monetary policies and systems?
  • What is the likely impact of present day monetary innovations?

May 21 – Session 1 will provide an overview of the present system of money and banking, how it has evolved, how and why it is problematic, and where it is trending. Mr. Greco will talk about the interest-based debt-money system, how it causes the growth imperative and the politicization of finance and exchange, and the political and economic consequences of its continuation. He will outline the fundamental concepts of exchange and finance and the principles upon which sound and sustainable systems are being developed. Participants will be asked to read or listen to some specific materials in preparation of the subsequent sessions.

June 4 – Session 2 will be a more interactive webinar that will provide ample opportunity to discuss whatever questions have been evoked by the previous session and the assignments. These might include topics like inflation, depressions, asset bubbles and busts, the savings and investment functions, and government responses to shocks like the 2008 financial crisis and the more recent pandemic. This will lead into a discussion about possible solutions to the problems that the present system causes, and the role of local currencies and other alternatives for the exchange of value.

June 18 – Session 3 will concentrate upon past, present, and future exchange and payment alternatives, like Depression-era scrip, local and private currencies, commercial trade exchanges and LETS systems that apply the “credit clearing” process, and the more recent emergence of crypto-currencies and blockchain ledgers and their potential role. It will include discussion of how these have evolved, their advantages, limitations and future potential and what needs to be done to take them to scale.
Please note that each session will start at 6 PM Eastern Time (3 PM Pacific and Arizona time), and end at 7:30 PM (4:30 PM).

Register Now!

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Conversation with Edgar Cahn, Tim Jenkin, et al

I was recently the featured guest on Taking Back Our Economy, a podcast series hosted by the Community ExchangeEdgar-Cahn-photo-600x599 Alliance. In this episode I discuss principles of exchange, the various kinds of systems that have been tried, and what needs to be done to realize their full potential, with Tim Jenkin, founder of the Community Exchange System, Edgar Cahn, founder of Time Banking, Anitha Beberg, Christine Gray, and Martin Simon.

You can tune in to the discussion on YouTube at https://youtu.be/BtIG9YLySD4.

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My latest post: How, Then, Shall We Live? — What we might learn from the Amish

While most of us have been caught up in the high-tech, consumerist, debt-ridden rat-race, there are certain groups that have been thriving on low-tech, low-consumption, earth-friendly, cooperative approaches to living. Notable randy-fath-Amish-Cramong these are the Amish communities which are characterized by their strong social bonds and mutual support. In the present chaotic times as we struggle to reinvent civilization there may be something important to be learned from the Amish. Read about it here.

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Markets and finances in today’s world

The biggest players in money and markets today are central banks and central governments. Their market interference is massive and largely overrides the effects of other market player’s actions. If you have not already done so, please read my article, Money and Finance Have Now Been Completely Collectivized.

One complicating factor that market analysts and investment advisors universally fail to mention, and probably do not even recognize, is the withdrawal of large segments of the population from the work force, and from the “old civilization.” In my view, a new civilization has been emerging for decades from the bottom upward and that process is now accelerating as people lose faith in the dominant centralized financial, economic, and political systems and structures. The new civilization is being built on relationships of trust that already exist among family members and friendship groups and within local business and political circles. As corruption, malfeasance, and errors in the dominant centralized structures become more egregious and apparent, this process is bound to accelerate further until the old systems become irrelevant. My “Walking Away…” series of articles (Part I, Part II, Part III) articulates in more detail my thoughts about that.

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U.S. foreign policy, the primary threat to peace

Two or three years ago in my efforts to gain a deeper understanding of the political dynamics of the Middle East I came across Graham E. Fuller, a Middle-east analyst and former CIA operations officer. Reading his book, Turkey and the Arab Spring, gave me an appreciation for the pivotal role the Turkey plays in the region and in the Muslim world generally. Since then I’ve been following Fuller on his website and on Facebook.

In his recent editorial, US primacy is a self-fulfilling threat generator, Fuller provides an excellent overview of US government foreign policy and the US role in the world. In it, Fuller states:

I have no wish to launch into a litany of American sins, failures, or mistakes by omission, or more often commission, that have by almost any measure been disastrous for so many foreign countries “visited” by U.S. military operations. The list is long and well known — Iraq, Afghanistan, Syria, Libya, Pakistan, Somalia, indirectly in Yemen in most recent times. He then nicely summarizes the essence of US foreign policy, saying, “…it’s hard to get off that enemy list when you actively assert your independence from Washington.”

The editorial is brief and well worth reading. You can find it on Fuller’s website.

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Travel Plans

As spring passes and summer begins, we wonder about the possibilities for travel and tourism to return to anything like normal. Will “vaccine passports,” testing, and/or masking be required to travel? If so, what form will those passports take, paper certificates, digital apps, chips embedded under the skin? Will governments impose quarantine requirements for people entering their country, as many have been doing for more than a year? If one does travel abroad, what are the chances of being stuck there and not allowed to leave?

Considering all that, it seems unlikely that I’ll be doing much traveling this year.

Stay alert, keep learning, and seek your inner peace,

Thomas

How, Then, Shall We Live? — What we might learn from the Amish

I grew up in the 1940s and 50s, a time that I consider to be the Golden Age of prosperity and promise, a time when the middle-class was growing larger and more prosperous and it seemed that things would only continue to get better. It was a time when a family could manage quite nicely, as mine did, on a single modest income. My dad was a “debit agent” for a big mutual insurance company, selling life insurance and collecting the premiums from policy holders within his territory, or “debit.” On his modest income he was able to provide us with a nice home, put both my sister and me through college, and allow my mother to remain at home to take care of us kids, keep house, and prepare our meals as middle-class wives typically did in those days.

The social revolution of the 1960s and 70s brought some massive cultural changes, including the rise of the environmental, civil rights, human potential, feminist, gay-rights, back-to-the-land, and peace movements, along with a relaxation of sexual mores, a shift to more casual modes of dress, the hippies, the flower children, experimentation with psycho-active substances, and experiments in communal and cooperative living.

The leveling of class distinctions and income distributions that characterized the post-World War II era continued up until about 1980. Around that time many of those earlier trends seemed to run out of energy, and reactionary forces threw many of them into reverse. Notable among the latter has been the massive reversal of economic fortunes of the middle and lower classes. Despite huge increases in productivity and increased material abundance, class and wealth differences again began to increase and have by now reached unprecedented proportions. For most families, the income from one job is no longer sufficient.

But my purpose here is not to recapitulate the history of that era, nor to critique it, but simply to introduce the reader to a drastically different way of living that has been thriving for decades, if not centuries right alongside the high-tech, consumerist, debt-ridden rat-race that most of us are caught up in, and to suggest that there may be something important to be learned from the Amish as we try to reinvent civilization amidst the present intensifying chaos. 

Photo by Randy Fath on Unsplash

Given my interest in social justice, economic equity, personal freedom, intentional communities, and the social phenomena of the 60s and 70s, it is not surprising that I would discover Donald  Kraybill’s book, The Riddle of Amish Culture, which for me was an eye-opener that showed me a much different way in which people were able to thrive. That was sometime in the 1980s, the same time as my involvement with the School of Living which caused me to make frequent trips into Pennsylvania where School of Living headquarters were then located. Those trips took me through parts of the state where Amish farms and businesses were numerous.

Recently, as I was sorting through some of the many boxes containing my archives and personal records, I came across a photocopy of an article titled, Amish Economics by Gene Logsdon that appeared in the September-October 1986 issue of Community Service Newsletter. Rereading that article after so many years and in the present day context of social, economic and political upheaval, it struck me as being even more pertinent now as we struggle to reimagine how we ought to be living on this finite planet. I’ve scanned that article, converted it to a PDF file, and am making it available here for your edification.

In spite of what many consider to be their backward ways and their inclination to eschew much of modern technology, the Amish have managed to thrive both as a religious and social community as well as economically while many in the conventional world have struggled to survive. According to Wikipedia, “The Amish are among the fastest-growing populations in the world.” Between 1920 and 2019, the Amish population in the United States increased from about 5,000 to 350,000, and they have spread beyond Pennsylvania into many other states, notably Ohio, Indiana, Wisconsin, New York, and Michigan.

Now I am not advocating that we all live as the Amish do, but I think we might do well cultivate some of their attitudes about community and mutual support, and adopt some of their agricultural, land stewardship, and small business practices. Amish communities also enjoy certain freedoms from government policies and dictates because of their religious beliefs and practices.    

If you’d like to dig deeper into what the Amish might teach the rest of us, you can learn a lot from the links in this article and from the Amish Times.

Your comments on this article would be welcomed.

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