Tag Archives: newsletter

Latest news from Thomas Greco — November 2019

In this edition:

The End of Money and the Future of Civilization now published in Spanish
I’ve waited ten years for it to happen but I’m delighted to announce that, thanks to the efforts of translator Enric Montesa and editor Julio Fernández, my book, The End of Money and the Future of Civilization, is now available in Spanish. The Spanish language edition, titled El Fin del Dinero y el Futuro de la Civilización, can be ordered from the publisher, Ediciones Kaicron, at their website. Please help spread the word to your networks of Spanish speakers.

Continue reading the newsletter here…

2019 September Newsletter

Contents

  • Website improvements
  • Recent posts
  • Who owns the world
  • The Secrets of Silicon Valley: What Big Tech Doesn’t Want You to Know

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Website improvements
We’ve recently made some major improvements to our websites.

  1. Our WordPress service on BeyondMoney.net has been upgraded to a paid “premium” subscription, so viewers will no longer have to put up with the ads that WordPress inserts into all “free” sites.
  2. Our Beyond Money Podcast page has been redesigned. We hope visitors will find it much more appealing and user friendly.
  3. Important case studies in exchange alternatives have long been resident on our other website, ReinventingMoney.com. These pages have been revised and the link has been added to the menu at BeyondMoney.net to give them greater exposure.

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Recent posts
New podcast episode with John Attridge
In this episode, we speak with John Attridge, CEO of BBX-UK and Ireland, a reciprocal trade community which is part of the BBX network of trade exchanges that spans 14 countries and together service more than 90,000 customers.

The empire vs. journalism and free speech
John Pilger delivers a warning on behalf of Julian Assange who continues to be persecuted for exposing crimes committed by high government officials: “Speak up now,” Pilger said, or face “the silence of a new kind of tyranny.”

Make America sane again
As in the presidential primary of 2016, The Democratic National Committee (DNC) is again trying to tilt the contest to favor its anointed ones. Likewise, other institutions of the “establishment,” like Google, are imposing obstacles in the way of candidates who are challenging the military-industrial-banking-corporate complex (Tulsi Gabbard, Democratic Presidential Candidate, Sues Google for $50 Million). Now is the time for the American people to stand up and use their power to challenge the political establishment…

Read more here.

Summer Newsletter-2019

Greek mountain village

Monetary alchemy: how to turn bad money into good

In my latest article, just published on Open Democracy, I describe how fiat money can be transmuted into a truly effective and scalable community currency, while at the same time providing a way to finance community improvement projects like affordable housing. Key features that distinguish my design from other “fiat backed” currencies that have been tried before are (1) the limitations placed on cash redemption, and (2) the requirement that the community currency be issued as loans to businesses based on the amount of needed and desired goods and services they have available for immediate sale. You can read the full article here.

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Libre Not Libra: Facebook’s Blockchain Project

Facebook’s Libra crypto-currency project has caused a major uproar. In this talk, delivered on June 19th 2019 in Edinburgh, Scotland, respected technologist, entrepreneur, and crypto-currency guru Andreas Antonopoulos provides an interesting interpretation of the nature of Libra and its implications for the future of payments, privacy, and freedom, all of which is both exciting and terrifying. Antonopoulos couches his comments in the framework of what he sees as the emerging “currency wars,” distinguishing among government currencies, corporate currencies, and people’s currencies on the basis of the principles that underlie them. You can view the video here.

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Europe and the UK

I spent most of May and half of June on the other side of the Atlantic conferring with colleagues in the UK and Italy, and living in community at the Kalikalos Holistic Center in Kissos, Greece, where I’ve stayed many times before. My work in the UK has been ongoing for almost a year during which time I’ve been advising a group that has now formed the Open Credit Network.  

“The Open Credit Network is a cooperative of businesses who have come together, under a simple shared agreement, in order to trade with each other without the need for hard cash.”

This project is still in the formative stages but is making good progress. UK cooperatives and small businesses are invited to get involved.

During my trip I managed  to mix in a bit of R&R, enjoyed spending time with friends old and new, and toward the end of the trip had some fun with friends Yannis and Catherine rafting on the Voidomatis river in the Vikos gorge in northern Greece. This experience is one of many being offered through Yannis’ new travel platform, https://www.gofreedly.com/.

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How to Legally Not Pay Taxes by Tom Wheelwright

I discovered this video by accident while randomly browsing YouTube. Whether your goal is to play the system and become rich, or to change the system to make it fairer, you need to pay attention to this presentation. Tom Wheelwright, is a high powered CPA and tax advisor who describes here how entrepreneurs and investors legally avoid paying taxes. In this video, he points out that on average, those who are classified as employees pay a tax rate of about 40%, and professionals like doctors and lawyers get hit even harder with an average rate of 60%, while entrepreneurs pay only around 20% and big investors pay virtually zero. It’s all a matter of knowing the tax laws and how they favor capital over labor.

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Dr. Laurence Victor, R.I.P.

I was greatly disturbed by the content and tone of Larry’s last message to me on Friday July 5, so I dropped by his place to see him on Saturday morning, but when his wife greeted me at the door she asked, “are you psychic?” and told me that Larry had just died a few hours earlier. I’m sorry I did not have the opportunity to bid him farewell. His health had been in decline for several months, and he had reported suffering severe pain from a massive tumor at the back of his tongue that his doctors said was inoperable.

With PhDs in both physics and psychology Larry had a long career in academia. He was a brilliant and innovative thinker whose unique perspectives on life, civilization, “uplift,” and human “emergence” fascinated many. Larry was a good and respected friend of thirty years. He will be greatly missed.

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Movie reviews

I’d like to recommend two movies I’ve seen recently.

Pavarotti is the story of opera tenor Luciano Pavarotti (1935–2007) who had perhaps the greatest operatic voice of the past 100 years. Director Ron Howard does a masterful job of telling the story of a man whose life impacted the world of music well beyond the narrow confines of opera, and whose generosity touched the lives of many. The story and the music will move you deeply, .…if you let it.

The Biggest Little Farm. Exquisite in every aspect, this film tells the inspiring story of a professional couple who take a leap of faith into small-scale, diversified farming in southern California. Tracing their trials and tribulations over several years, it shows what can be achieved when working with nature to find balance.
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Wishing you a pleasant summer,

Thomas

P.S. Rep. Tulsi Gabbard wants the U.S. to stop its endless wars and do what it takes to REALLY make America great again. Let’s keep her in the Presidential debates by making a small contribution to her campaign.

2019 Spring Newsletter

2019 Spring Newsletter

  • Summer travel plans
  • Announcing Beyond Money Podcast
  • Jubilee
  • Elections 2020
  • Global War Profiteers vs. the People of the United States

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Summer travel plans

My travels last year were quite limited for various reasons. This year I’m planning to spend six weeks in Europe and the UK starting in early May and extending to the middle of June. My first objective is to meet up in London with colleagues who have been working toward organizing a mutual credit clearing network to enable moneyless trading among cooperative businesses and small and medium sized enterprises. I also have plans to meet up with colleagues in Italy, and I am slated to spend the first two weeks of June as a facilitator in residence (FIR) at the Kalikalos holistic summer school at Mt. Pelion in Greece, where I have previously conducted workshops and spent a lot of productive and enjoyable time. At this point I have some unscheduled blocks of time mainly in the latter part of May, which makes possible visits to other places as opportunities arise and the spirit moves me.
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Announcing Beyond Money Podcast

Building upon last year’s interview with executives of the Moxey trade network, Ken Freeman and I have been working together to set up the Beyond Money Podcast website. The site is now live with the first two of what we hope will be a long series of audio interviews with major players who have knowledge and/or experience in some aspect of alternative currencies and exchange systems.

In the premier episode I provide a broad overview of the money and banking system, its history and dysfunctions, and discuss reciprocal exchange alternatives that have emerged and are continuing to develop. The second episode is an interview with educator and social activist Heloisa Primavera, in which she tells about the conditions that led to the rise of the social money movement in Argentina around the turn of the century, its eventual fall, and current efforts to rebuild it.
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Jubilee

I have long argued that the global interest-based debt money regime is dysfunctional, destructive and unsustainable, yet debts in both the private and public sectors continue to explode exponentially along with increasing disparities of incomes and wealth, causing social, economic and financial pressures to continue to build. The need for strong measures and serious restructuring is enormous but the vested interests, fearing their loss of power, are resistant to change.

In his latest book, “…And Forgive Them Their Debts, renowned economist Michael Hudson, reveals that periodic debt forgiveness has been a practice in many cultures going back thousands of years, even predating the Jubilee prescribed in Mosaic Law and described in Old Testament of the Bible. Hudson’s long historical purview is highlighted in the book’s subtitle, “Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year.” He argues that periodic debt forgiveness is a necessity to preserve civilization because of the inevitable imbalances that develop over time. The Financial Times has called this book one of the best economics books of 2018.

I’ve not yet read the book, but I met Hudson more than 30 years ago and have followed his work ever since. There are numerous videos available in which Hudson describes his research findings and prescriptions, including this recent interview by award winning journalist Chris Hedges: On Contact: The history of debt forgiveness.

It is to be expected that such a proposal as debt forgiveness, if acknowledged at all, would be greeted by the mainstream as “radical,” “impractical,” or even “communistic,” but it is not hard to see the necessity of making a periodic reset when it comes to debt. Anyone who has ever played the game, Monopoly, knows that, if played long enough, one player ends up owning everything and all the others end up with debts they cannot pay.

Bankruptcy procedures have long since been established to enable some financial restructuring for individual and corporate debtors. These procedures invariably include the reduction of debts in whole or in part. Debtor prisons have long since been abolished but debt bondage remains in many forms and laws tend to favor creditors and the owners of capital over those whose livelihood depends on their ability to sell their labor in the market.

As conditions build toward the next financial crisis, the powers-that-be will undoubtedly employ ever more desperate measures to hold on to power. An article in SD Bullion outlines the ways we should expect them to react to the eventual crisis.
Here is an excerpt:

 “Writing for the Financial Times in February of 2018, the former head of research for the central bank of central banks (the BIS), William White stated the common sense perspective that, “Governments and international forums need to revisit bankruptcy procedures. Debt that cannot be serviced will not be serviced.

“What Mr. White failed to mention in his somewhat recent op-ed article was that the BIS’ FSB has been writing and enacting new global bank and globally important financial institution bankruptcy laws for years now. 

“Far [too] few people banking in supposed first world nations fully understand the existence nor the potential implications of current Bank Bail-in Laws and other financial emergency provisions which have been enacted in recent years.

“Various financial spillover lock down laws have been put into place since the last great recession in 2008 thoughout the G20 nations (yes the USA is part of the G20).”

The bottom line is that, as always, those least able to afford it will be required to pay the cost of systemic failures. Your “money in the bank” may not be as safe as you think. Now that depositors are “legally treated as unsecured creditors,” the stage is set for partial or total confiscation of depositors’ funds. A global financial reset is inevitable. It can be done intentionally in an orderly fashion, but more than likely, the debt crisis will be left to fester until or the reset happens spontaneously and chaotically. The big question is, when will it occur?
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Elections 2020

For the first time in many years, the people may have a chance to decide who will be a major party candidate for US President. For the past several decades, the “Demopublican” regime has forced voters to choose between two preselected candidates, both of whom can be counted upon to advance the agenda of the elite political establishment. But on the heels of the 2018 midterm election victories of many reform-minded and progressive candidates to Congress, the winds of change are beginning to blow.

In anticipation of the Democrat party primary elections, the field of potential Presidential candidates has exploded. It is extremely important that all voices and all ideas be heard. We must not allow the media to tell us which ideas are workable and which are not, or which candidate is able to win and whjich is not. To that end I am supporting with my small voice and small financial contributions the campaigns of many candidates to assure that they will qualify to participate in the upcoming debates.

The criteria established by the Democratic National Committee (DNC) for participating in the Democratic primary debates in June and July are:

  1. Receive at least 1% in 3 polls either nationally or in early states (Iowa, New Hampshire, Nevada, South Carolina) between January 1 and mid-May; or
  2. Receive 65,000 individual donations, including at least 200 from 20 different states

The DNC has also said that the field would be restricted to 20 candidates, so if more than 20 candidates satisfy the criteria above, they would knock out the bottom few.

While a closer look at the details of their various platforms is necessary, and I am not yet ready to endorse any candidate, I like what I’ve been hearing from Andrew Yang and Tulsi Gabbard.

Yang has many ideas that I like. Citing advances in automation and artificial intelligence, Yang, on his website, declares one of his main priorities:

I’m not a career politician—I’m an entrepreneur who understands the economy. It’s clear to me, and to many of the nation’s best job creators, that we need to make an unprecedented change, and we need to make it now. But the establishment isn’t willing to take the necessary bold steps. As president, my first priority will be to implement Universal Basic Income for every American adult over the age of 18: $1,000 a month, no strings attached, paid for by a new tax on the companies benefiting most from automation.

The Yang campaign reports that he has already reached the threshold of 65,000 individual donors more than two months before the May 15th deadline, and they have also raised over $750,000 in the last month.

As for Tulsi Gabbard, this excerpt from her website resonates with my own values:

She is a champion for protecting our environment, ensuring clean water and air for generations to come, investing in infrastructure and a green energy economy, healthcare for all, civil liberties and privacy, support for small businesses, criminal justice reform, sustainable agriculture, breaking up the big banks…and she needs your help!

Regime change wars are bankrupting our country and our moral authority. We need to redirect those resources into a renewable, sustainable economy that works for everyone and bring about an era of peace. We must put service above self and reclaim our great democracy from the forces of hatred and division.

As the 2020 campaign season heats up, it is crucial that we attend to more than just the mainstream media channels. You can find a list of my favorite sources here.
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Global War Profiteers vs. the People of the United States

David DeGraw’s report on the vast extent of corruption in the military-industrial-security complex.

The problem has long been recognized but it’s far worse than we thought. DeGraw’s report quotes President John F. Kennedy, speaking in 1961 about the state secrets privilege:
It is a system which has conscripted vast human and material resources into the building of a tightly knit, highly efficient machine that combines military, diplomatic, intelligence, economic, scientific and political operations. Its preparations are concealed, not published. Its mistakes are buried, not headlined. Its dissenters are silenced, not praised. No expenditure is questioned, no rumor is printed, no secret is revealed….If you are awaiting a finding of ‘clear and present danger,’ then I can only say that the danger has never been more clear and its presence has never been more imminent.”

10 Mind-Blowing Pentagon Audit Reports All Americans Need to Know

Key Findings:

1) Record Number of Whistleblowers Retaliated Against & Silenced, As Trillions of Dollars Unaccounted For
2) Department of Defense Inspector General Caught Covering Up Corruption, Altering Audit Reports
3) Intelligence Community Whistleblowers Retaliated Against, Cover-Up Attempts Reported, Key Officials Wrongfully Fired, ‘Honest Inspectors Flee,’ Prominent Insiders Speak Out, ‘There Is No Oversight’
4) C.I.A. Caught Illegally, Unconstitutionally Spying on Congress, Using National Security Classification to Cover-Up Corruption, Routinely Retaliating Against Investigators & Whistleblowers
5) First-Ever Full-Scope Audit Failed, No Congressional Briefing, Accounting Fraud “Legalized”
6) Fixable Pentagon Accounting Problems Ignored, Well-Proven, Long-Established Systemic Failure to Address Known Critical Issues
7) Many Critical Cyber Vulnerabilities Ignored at Pentagon & U.S. Treasury, An Open Invitation For Criminals Worldwide
8) Known Solutions – That Can Save Tens of Billions of Tax Dollars Annually – Not Implemented, As Key Gov Accountability Offices Drastically Underfunded & Understaffed
9) Since 1998, $21 Trillion Unaccounted For, $2.6 Billion in Bribes and 12,727 Government Officials Through Global Military Revolving Door
10) Classifying Corruption: Under the Guise of National Security, U.S. Treasury Looted & Constitution Rendered Null & Void
Conclusion
Download Full Report

# # #

Newsletter—2017 Year-end, and prospects for the coming year

  • New web posts:

            Disruptive Technologies Making Money Obsolete

            Limiting Factors in the Operation of Commercial Trade Exchanges

  • Newly discovered video from 2003 interview, Democratizing Money
  • 2017 recap
  • Thoughts on the state of the world, plus recommended authors, commentators, and sources

 20171230_160838_Burst01

It’s been a long while since my last newsletter. It’s not that I’ve been idle, rather, more preoccupied with other aspects of my life. I’ve been somewhat less motivated to keep my nose to the grindstone, and more inclined toward spending time with friends and family, and recreational pursuits like playing bridge, enjoying the outdoors, and reading good literature. My commitment to societal improvement remains, but I realize that it is necessary to have the proper balance in life in order to be both happy and effective.

Now that 2017 is behind us, we can be hopeful that 2018 will bring better conditions and new opportunities for progress in our work.
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New Web Posts

Broadly speaking, technology is the organization of knowledge, people, and things to accomplish specific practical objectives. It includes processes, practices, techniques and systems as well as things. So what are the disruptive technologies in money and finance? Or is that even the right question to be asking? Is it Bitcoin, Ethereum, and other so-called crypto-currencies? Is it the blockchain, “smart contracts,” “big data,” algorithms?

To find out, watch my 15 minute video, which was extracted and adapted from a longer recording of A World Without Money and Interest: A pathway toward social justice and economic equity, the presentation I  made to the International Institute of Advanced Islamic Studies, in Kuala Lumpur, Malaysia, on October 10, 2016. It describes how communities and businesses can escape the debt trap and become more resilient and self-reliant? New independent approaches to payment and reciprocal exchange are being deployed which are making conventional money obsolete. It’s not as  complicated as you may think.

You can view the video at either of the following links:

YouTube link: https://youtu.be/ty7APADAa8g

Vimeo link: https://vimeo.com/245661935

Many thanks to Ken Richings for doing all the hard work of editing and preparing the video for publication.

I’ve also posted another excerpt from my book, The End of Money and the Future of Civilization.

This one, taken from Chapter 15, Commercial Trade Exchanges—Their Present Limitations and Potential Future, describes the ways in which present practices of commercial trade exchanges are limiting their own growth and development.
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Newly discovered video from 2003 interview, Democratizing Money

A long-time correspondent recently alerted me to a video that was made during my tour of the Pacific Northwest in 2003. It is an interview on Network X, in which the late Jeff Fairhall and I spoke about Democratizing Money. This is still every bit as relevant today as it was back then. You can find it on YouTube at https://youtu.be/l4zVbNig–g.
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2017 recap

Travel in 2017 was minimal, only two trips, one to South Carolina to visit family on the occasion of my granddaughter’s university graduation, and the other to Greece in June/July to conduct my weeklong workshop at Kalikalos Holistic Summer School and to confer with colleagues in Volos and Athens. I’ll not be conducting another formal workshop at Kalikalos next summer but I may spend some time there at the Kissos campus as a Facilitator In Residence (FIR)

During the first part of 2017 and the last two months of 2016, I participated in a cooperative living experiment in Tucson with two friends and colleagues, Susan and Jock. Susan is an author, administrator and grant writer, and Jock is an expert in community living and the founder of Kalikalos. We took a 6 month lease on a house in central Tucson with the intention of working out some alternative possibilities for seniors to age in place in a supportive community, and to take a first step in establishing a learning center that I call the E. C. Riegel Institute for Sustainability and Financial Innovation. With Susan’s expert help, we submitted a couple grant proposals for funding  the Institute but did not manage to get a grant, so by the end of April when our lease expired, the experiment was wrapped up and, as planned, we scattered. Susan moved back east to be closer to her son and daughter, Jock developed some health problems so he chose to move into an assisted living community in Marin county California, and I moved into another shared house in Tucson.

I maintain regular correspondence and collaboration with many in my peer networks but I’m finding it impossible to keep up with all the email I receive, so I’m having to be more selective about what gets answered. Also, there continues to be a steady stream of groups and individuals asking my advice about their ideas for a new economy, community currencies or credit clearing exchanges. As you might imagine, many of those who contact me have only a germ of an idea and little background in the principles of economics, money, finance and exchange. I try to direct them to resources (my own and others’) that are appropriate to where they happen to be on the learning curve, but there are a few who seem better prepared and have demonstrated abilities in related fields that I choose to work with more intensively. It’s hard to assess the ultimate impact of these efforts, and I’m still hoping to connect with social entrepreneurs and funders who are willing to take my advice to create and take to market an exchange system or currency that is sound, credible, effective and scalable, one that can adequately demonstrate the real potential and effective enough to be widely replicated.

In the meantime, I keep trying to improve my communication skills so that people can better understand, not only what is dysfunctional about conventional money, banking and finance, but also the principles and technical details required to realize the great potential of private currencies and moneyless exchange systems. Last year I published the Solar Dollar white paper, and I will soon be publishing another article in which I will try again to clear up the most common misconceptions, and help the next corps of social entrepreneurs to avoid repeating the old recurrent errors.
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Thoughts on the state of the world

2017 has sure been an interesting year geopolitically, with Trump’s tweets, Russiagate, North Korean weapons tests, mass killings, and continuing U.S. interventions in the middle-east and elsewhere,  giving the pundits plenty of material to yack about 24/7. U.S. politics is playing out like a melodramatic farce. The executive branch seems to be a house divided against itself, and the political landscape is undergoing a seismic shift. The Trump presidency has shaken things up and it’s difficult to predict what might happen next. The corporate and banking oligarchs seem to be getting  enough out of Trump to accept (for now) his presence in the White House, but his rejection of the Trans-Pacific Partnership (TPP) and his coziness with Putin and the Russians must be exasperating to them.

It’s getting ever more difficult to sort out the real facts from the fake news and propaganda. If you get your news solely from the main TV channels, newspapers, and magazines you’re getting only a small part of the big picture and are thereby being misled. For a more complete picture, one needs to study history, listen to whistle blowers, and consult independent authors and commentators, and foreign as well as domestic sources. My current list of  recommended sites and sources is here. It’s up to you to decide what makes sense and what to believe. As one sage told me long ago, “Don’t believe everything you hear, and only half of what you see.” Over the past several months, I’ve posted five segments in a series I call, What in the world is going on? Go to my website, https://beyondmoney.net/, and search on “What in the world” to find them.

Finally, regarding the economy, since the 2008 financial crisis the central banks have been inflating asset bubbles in stocks, bonds, and real estate by their policies of market interventions (quantitative easing) and low interest rates. Now they are making noises about raising interest rates and reducing the size of their balance sheets (by selling securities), but I don’t expect they will be able to go very far with those moves without causing more economic distress. They are more window dressing than real policy shifts. The Republican tax bill which was recently passed into law will, in the short run,  add to that bubble inflation by giving the rich and the corporations additional funds which they will mainly invest, not spend. Corporations, rather than raising wages or building new capacity, will likely use much of the windfall to buy back their own shares. That added demand will keep stocks pumped up for a while longer. But nothing has been done to remedy the flaws that are inherent in the global system of money, banking and finance (MBF), which in fact have been made worse. Another financial crisis is surely on the way and it’s likely to be more severe than the last one, but when it will break is difficult to predict.

Everyone wants to know how to protect their nest egg. My general advice for communities is to convert financial resources into resilient infrastructure that provides a steady stream of necessary goods and services. But what can individuals do? An inflationary depression is the most likely scenario, so keep enough cash on hand to last a couple weeks and hold some liquidity in a credit union account, but invest a major portion of your money in real things that will be useful and hold their value no matter what. For more detailed advice about that you can read my post Survival Strategies for Troubled Times.
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Wishing you peace, love, and joy throughout the coming year,
Tom

2016 Summer Newsletter

 Greece Workshop Report

During the last week of June I conducted a weeklong workshop and colloquium on Innovation in Exchange and Finance at the Alexandros campus of the Kalikalos Holistic Summer School on the beautiful Pelion peninsula overlooking the Aegean Sea in Greece.

I had planned this to be a collaborative, interactive and problem-centered workshop that would bring together skilled and accomplished people to produce significant innovations in the areas of exchange, finance, and economics. We were fortunate in being able to draw together an excellent cohort of participants having diverse knowledge, skills and experience. Nine of these were full-time and several more participated in various parts of the workshop, particularly the June 25-26 weekend when we had a number of Greek participants from Volos and Athens. The Volos contingent shared their experiences over the past four years in creating and operating the Volos TEM trade exchange. It was very useful for all of us to hear about their difficulties and false starts and the lessons they have learned which will be applied as they move forward into the next phase of their project.

In addition to the registered workshop attendees who came from Australia, India, Ireland, Serbia, Sweden, the US and the UK, several Kalikalos staff members participated in some aspects of the workshop. We were disappointed however that one registrant from Saudi Arabia was unable to attend because his entry visa was denied by the Greek government.

Our work sessions were loosely structured to allow space for each person to share not only their questions but also their experiences and insights, and for the spontaneous emergence of ideas action plans. In addition to my presentations of foundational concepts using slide shows and videos, the format included a number of participatory exercises. Participants had opportunities to showcase their ongoing or planned projects and receive feedback from the group, and as is usual in any such gathering, informal discussions and networking were an important part of the experience.

Kalikalos has invited me to return again next year to conduct another similar workshop on monetary and financial innovation. It will be scheduled in the general timeframe of the second week of June (exact dates to be determined soon). My colleague Matthew Slater, one of this year’s participants who has particular expertise in IT, crypto-currencies, has agreed to assist me in that workshop, and over the coming months we will be working to further develop the format and the program.

I am hoping to once again attract participants who are ready, willing and able to put their knowledge and understanding into action. As Malcolm Gladwell points out, it takes mavens, connectors, and marketers working together to make a project successful, but most of all I think it takes entrepreneurs who are able to bring harmony to the mix, to hold the vision and to dedicate themselves fully to its realization.

As the time approaches, we and the Kalikalos team will be asking you to help us get the word out to our target groups— trade exchange operators, social entrepreneurs, local government officials, serious students, and enthusiastic agents of change.

In the face of the ongoing global economic and financial crisis and increasing political uncertainty, the creation and deployment of innovative decentralized mechanisms for reciprocal exchange and equitable finance are becoming ever more urgent and the opportunities have never been greater. We are now on the brink of ushering in a new more just and sustainable economic paradigm that will enable small producers and local enterprises to thrive, and communities to gain more control over their own destiny and quality of life.

Before and after my workshop I spent an additional three weeks at Kalkalos living in community at the Kissos campus. That in itself was an enlightening and enjoyable experience.
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Upcoming presentation – Malaysia

In October I’ll be presenting at the International Forum on Inclusive Wealth (http://www.ifiw.my/) in Kuala Lumpur, Malaysia. I’ll be outlining my revolutionary plan for a decentralized global exchange network based on direct control of credit by producers.
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“IMF admits disastrous love affair with the euro and apologises for the immolation of Greece“

In a July 29 article in The Telegraph, journalist Ambrose Evans-Pritchard dissects a recent report by the IMF’s Independent Evaluation Office (IEO). He says the report, “goes above the head of the managing director, Christine Lagarde. It answers solely to the board of executive directors, and those from Asia and Latin America are clearly incensed at the way European Union insiders used the fund to rescue their own rich currency union and banking system.”

He concludes that “The injustice is that the cost of the bailouts was switched to ordinary Greek citizens – the least able to support the burden – and it was never acknowledged that the true motive of EU-IMF Troika policy was to protect monetary union. Indeed, the Greeks were repeatedly blamed for failures that stemmed from the policy itself. This unfairness – the root of so much bitterness in Greece – is finally recognised in the report.” Read the full article here.
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Recommended reads and views

Chris Hedges: The Revenge of the Lower Classes and the Rise of American Fascism.

Michael Hudson interview: The new global financial cold war

Basic Income gaining ground:

General Wesley Clark, former Supreme Allied Commander of NATO, testifies in this 2-minute video that the US planned to overthrow seven countries after 9/11.

Wishing you a relaxing and enjoyable summer,

Thomas

Newsletter – January 2016

My upcoming course, Exchange and Finance for the New Economy: Principles and Practice.

LEARN    *    WORK    *    PLAY

Come to Greece next summer to participate in my week-long course

View from Alexandros

View from Alexandros

in innovative finance, exchange, and economics, and collaborate with like minded peers to create a new economy that works for everyone, while enjoying a delightful summer holiday on the magical Pelion peninsula.

This course is designed especially for social entrepreneurs, enthusiastic agents of change, local government officials, and serious students who are eager to co-create a new sustainable and convivial economy from the bottom up. In this highly participatory workshop, we will use a combination of presentations, discussion groups (some on the beach), videos, and simulation games, to dive deeply into the process of exploring and developing innovative methods of finance and exchange, like community currencies and credit clearing exchanges.

Our venue is the beautiful, modern and comfortable Hotel Alexandros, a calm and serene retreat center perched on the hillside overlooking the Aegean Sea within walking distance to the pristine Plaka beach and the clear waters of the Mediterranean.

Course fees are extremely affordable but a few fee concessions may be a available for qualified low income participants.

The course runs from June 24 thru July 1. Course description and registration form can be found at http://www.kalikalos.org/exchange-finance. Space is limited so register early.
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The Big Short and other revealing sources

If you have not seen the movie The Big Short, I encourage you to do so. It is based on the book by Michael Lewis, a former Wall Street insider with an unusual talent for telling a good story and making complicated things understandable. In this book and others of his that I’ve read (Boomerang and Flash Boys), Lewis does a superb job of describing Wall Street corruption and providing important insights about our dysfunctional systems of money, banking and finance.

I also recommend the new book, Healing Capitalism, by my friend Prof. Jem Bendell. The printed book is priced for the academic market (pricey) but the digital format is much more reasonable. In the introduction, which you can read for free, Bendell quotes E. C. Riegel: “we need not petition Congress and we need not waste time to denounce bankers, for they can neither help nor hinder our natural right to extend credit to each other, and this is the perfect basis for a money system.” You can download the Introduction here, and links to free downloads of Riegel’s works can be found at http://reinventingmoney.com/library/.
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In Memoriam

On a personal note, it is in sadness that I report the passing of my dear sister, my only sibling, Mary Lillian (we always called her Marylil) on the second day of the new year. Marylil was a genuinely nice person who was loved by everyone who knew her. Her absence is deeply felt.

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