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work for large corporations. A striking 69% of them have concluded that we are living now through the 'sixth extinction'. This species extinction seems to be happening more rapidly and affecting a wider range of biodiversity than any of the previous five. This is even faster than the last extinction, over 60 million years ago, when an asteroid may have wiped out the dinosaurs. The claim is that we are in the process of losing between 30% and 70% of the planet's biodiversity within a time span of only 20 to 30 years. The other difference from all previous extinction is that this one is due to the actions of one species our own - which also claims to be the only one endowed with intelligence and consciousness. · The following public Warning to Humanity was unanimously agreed by 1,600 scientists, including a majority of living Nobel Prize winners in the sciences: 'A great change in stewardship of the Earth and the life on it is required, if vast human misery is to be avoided and our global home on this planet is not be irretrievably mutilated. ... If not checked, many of our current practices may so put at serious risk the future that we wish for human society and the plant and animal kingdoms, and may so alter the living world, that it will be unable to sustain life in the manner that we know. Fundamental changes are urgent if we are to avoid the collision our present course will bring about.' · In a separate initiative, a global meeting of 2,800 economists, including Nobel Prize winners James Tobin and John Harsanyi, unanimously agreed on the following opinion: 'Global climate change is a real and pressing danger', carrying with it significant environmental, economic, social and geopolitical risks. All these exhortations invariably seem to hit a brick wall wherever serious financial interests are involved. Financial markets focus on the; next quarter's results, and even if a particular CEO were to advocate longer-term priorities at the expense of immediate results,
he or she would be ruthlessly punished or even removed from office. Only when we have resolved the next 'money question' will there be any real chance to address the climate change and the biodiversity extinction problems in a timely and systematic way. So our bottom-line question here is: How can we resolve the conflict between short-term financial interests and long-term sustainability? 4. Monetary Instability Michel Camdessus, the first to be elected three times as managing director of the International Monetary Fund (IMF), went on record as describing the Mexican crisis of December 1994 as 'the first financial crisis of the 21st century'. A total economic meltdown was avoided only because the US on an scale 850 billion. However, after the Mexican crash, even Mr. Camdessus did not expect the scale and speed of the South-east Asian crisis of 1997, which dwarfed the Mexican episode and necessitated emergency packages that made the Mexican bail-out look puny. This was followed by the Russian crash of 1998 and by the Brazilian crisis in early 1999. Unless precautions are taken, there is at least a 50-50 chance that the next five to ten years will see a dollar crisis that would amount to a global money meltdown. Currently, the monetary crisis has spread to three continents. Mr. Robert Rubin, the then US Secretary of Treasury, adds: 'The number of countries experiencing difficulties at once is something we have never seen before.' Paul Krugman, 'the most acclaimed economist of his generation', somberly concludes in 'Return of Depression Economics' in Foreign affairs: 'As little as two years ago, I and most of my colleagues were quite confident that although the world would continue to suffer economic difficulties, those problems would not bear much resemblance to the crisis of the 1930s.
Page 1 and 2: THE FUTURE OF MONEY Bernard A. Liet
Page 3 and 4: *Monetary Instability; * and an Inf
Page 5 and 6: First and foremost, these money inn
Page 7 and 8: Stories There will also be stories
Page 9 and 10: 1992, remarked. ‘I used to think
Page 11 and 12: to entirely computerize the traditi
Page 13 and 14: All four of these megatrends will b
Page 15 and 16: The following hard 'money question'
Page 17: important factor of production is b
Page 21 and 22: Cardon Cartoon 'Remaining locked in
Page 23 and 24: system in our own bodies (see sideb
Page 25 and 26: Please note that none of the approa
Page 27 and 28: All four cameos are set in the year
Page 29 and 30: official national clearinghouse to
Page 31 and 32: With the growth in productivity tha
Page 33 and 34: hundred such grass-roots projects a
Page 35 and 36: Cathedrals' (the 'Central Middle Ag
Page 37 and 38: Without throwing away the positive
Page 39 and 40: But let us begin at the beginning,
Page 41 and 42: Less obvious is the mechanism of th
Page 43 and 44: The Arab scholar Ibn Khaldun claime
Page 45 and 46: Matters of belief and social conven
Page 47 and 48: paper that stated where the metal w
Page 49 and 50: and imagination, launched or comple
Page 51 and 52: What happened instead was a slow an
Page 53 and 54: arrangement has serious negative co
Page 55 and 56: anker has an additional veil. In th
Page 57 and 58: The story from Australia (see box)
Page 59 and 60: the eleventh round - as part of the
Page 61 and 62: A third systematic effect of intere
Page 63 and 64: ealistic possibilities for graduall
Page 65 and 66: Just one facet of it - the Internet
Page 67 and 68: the more of us have it. Government
Page 69 and 70:
intervene in (or muck up, depending
Page 71 and 72:
automatically to crowd out competit
Page 73 and 74:
$29.95 CD ROM version of the game h
Page 75 and 76:
paper books, a printer-binder - loc
Page 77 and 78:
The real revolution of possibilitie
Page 79 and 80:
In Open Finance, the financial inst
Page 81 and 82:
'We can be knowledgeable with other
Page 83 and 84:
They just evolved and ended up refl
Page 85 and 86:
Peter Schwartz, president of the Gl
Page 87 and 88:
with this Official Future is that i
Page 89 and 90:
the remaining 5% will succeed at pe
Page 91 and 92:
with him, perhaps because this was
Page 93 and 94:
payment and phone call made with tr
Page 95 and 96:
He continued, 'The turning point fo
Page 97 and 98:
these cyber-terrorists. "Love it, o
Page 99 and 100:
financial deal in history so far, a
Page 101 and 102:
specialised issuing corporations wi
Page 103 and 104:
their goods. CUC presents that info
Page 105 and 106:
demographic, and transaction data H
Page 107 and 108:
The most effective solution for avo
Page 109 and 110:
· Since May 1998 in Berlin, German
Page 111 and 112:
mysteries of the universe they live
Page 113 and 114:
· However, there is also a growing
Page 115 and 116:
will have enough money to run an el
Page 117 and 118:
In 2WO, my folks moved to idaho to
Page 119 and 120:
I think I'll try to take you to Eur
Page 121 and 122:
Professor Robert Guttman of the Eco
Page 123 and 124:
as a monetary problem in the late 1
Page 125 and 126:
2020: The girl in the nightmare on
Page 127 and 128:
parents. Most of them had either be
Page 129 and 130:
what was left of his hair. The comb
Page 131 and 132:
long as they could remember. Their
Page 133 and 134:
Figure 4.5 shows that the number of
Page 135 and 136:
that 23% failed to participate beca
Page 137 and 138:
street in our cities could become a
Page 139 and 140:
occurring. And they are not the onl
Page 141 and 142:
the ride over the next couple of de
Page 143 and 144:
This topic will be tackled by explo
Page 145 and 146:
There are two ways by which our hea
Page 147 and 148:
ecame competitive with the Third Wo
Page 149 and 150:
ecause I was there at the beginning
Page 151 and 152:
now to 2010, has focused on cutting
Page 153 and 154:
that his factory workers could buy
Page 155 and 156:
Socio-political consequences Within
Page 157 and 158:
iot troops). The fighting lasted th
Page 159 and 160:
Everybody takes a defensive positio
Page 161 and 162:
that we can always create jobs by p
Page 163 and 164:
usiness boom cycle, or whether we a
Page 165 and 166:
The game can be played with one or
Page 167 and 168:
that many have jobs but are not doi
Page 169 and 170:
strongly hierarchical and centralis
Page 171 and 172:
hoarding fee technically called 'de
Page 173 and 174:
1933 (Figure 5.1). This graph also
Page 175 and 176:
year, Unterguggenberger addressed a
Page 177 and 178:
complementary currency systems as '
Page 179 and 180:
have this power should not amaze us
Page 181 and 182:
In contrast, a complementary curren
Page 183 and 184:
freshly baked whole wheat bread. Am
Page 185 and 186:
to goods and services they might no
Page 187 and 188:
David James, a Quaker from Whangare
Page 189 and 190:
Currently, Australia has the highes
Page 191 and 192:
underlying principle - I dared more
Page 193 and 194:
asset. As is true with all currenci
Page 195 and 196:
has an interest-free (unsecured) li
Page 197 and 198:
type currencies, others Hureai Kipp
Page 199 and 200:
The Cafe de la Paz in Berkeley, CA,
Page 201 and 202:
that more economic activity - imply
Page 203 and 204:
society provide the elderly with th
Page 205 and 206:
Anthropologists have found that com
Page 207 and 208:
Monasteries knew all about monetary
Page 209 and 210:
two families formally join to creat
Page 211 and 212:
Revolution. Pelt traders moved in t
Page 213 and 214:
currencies. Practice has demonstrat
Page 215 and 216:
credit for one hour, while Joe gets
Page 217 and 218:
In a world where pensioners are bec
Page 219 and 220:
than dollars, you may prefer to go
Page 221 and 222:
more human contact, more communicat
Page 223 and 224:
uilding streets, Lerner's team inve
Page 225 and 226:
on the condition that the other sid
Page 227 and 228:
and a higher educational level than
Page 229 and 230:
The Japanese population is the seco
Page 231 and 232:
effectively. But it has nevertheles
Page 233 and 234:
culture. He said: 'Today we are inc
Page 235 and 236:
system ledger for transparent accou
Page 237 and 238:
All the pieces of the puzzle, inclu
Page 239 and 240:
component should always more than c
Page 241 and 242:
communities have not always been aw
Page 243 and 244:
additional step needed to create th
Page 245 and 246:
insurmountable obstacles. However,
Page 247 and 248:
an interest in accepting well- desi
Page 249 and 250:
described in the previous chapter -
Page 251 and 252:
There are several significant reaso
Page 253 and 254:
mind, it may well be currency,' sai
Page 255 and 256:
What is at stake is quite substanti
Page 257 and 258:
Furthermore, there is a growing con
Page 259 and 260:
different reactions to the same com
Page 261 and 262:
The US went one step further by hav
Page 263 and 264:
2 Such improvements do not require
Page 265 and 266:
The hard part of creating currency
Page 267 and 268:
table should help in such a selecti
Page 269 and 270:
is the ROCS, because it brings toge
Page 271 and 272:
· 'Faced with widespread destructi
Page 273 and 274:
We should start by acknowledging th
Page 275 and 276:
the rate at which humanity destroys
Page 277 and 278:
The importance of realigning financ
Page 279 and 280:
ick wall with his forehead, he was
Page 281 and 282:
duration of the project. (All value
Page 283 and 284:
· and an adjustment reflecting the
Page 285 and 286:
‘sustainability fee'. Now, what w
Page 287 and 288:
(Note: the specific commodities, th
Page 289 and 290:
just as today's decision of which n
Page 291 and 292:
Revenue' in determining the demand
Page 293 and 294:
as early as Pharaonic Egypt. It was
Page 295 and 296:
therefore be fully backed, ensuring
Page 297 and 298:
Such a strategy can be initiated as
Page 299 and 300:
alliance among businesses would be
Page 301 and 302:
The site was familiar - I could per
Page 303 and 304:
dozens of names involved in Chaos a
Page 305 and 306:
evolutionary step. Well, to us now
Page 307 and 308:
other she wasn't. This amounted to
Page 309 and 310:
circumstance. Convertibility among
Page 311 and 312:
A Taoist viewpoint: All is about ba
Page 313 and 314:
The Yin-Yang coherence I will now i
Page 315 and 316:
Yang Yin Effects on Scarce/Competit
Page 317 and 318:
competition among the participants
Page 319 and 320:
Two important studies on Sustainabi
Page 321 and 322:
The 'Cultural Creatives': the only
Page 323 and 324:
knew each other. Ah of this was tru
Page 325 and 326:
'Out of 88,000 practicing acupunctu
Page 327 and 328:
This section will deal with the det
Page 329 and 330:
will predictably kill the very inno
Page 331 and 332:
My purpose in this book has been to
Page 333 and 334:
1960s: Development of large-scale p
Page 335 and 336:
each maturity only when a single cu
Page 337 and 338:
2005: The last European holdout, Br
Page 339 and 340:
1990’s: Age of corporate downsizi
Page 341 and 342:
Both 'Mr Yamada's Retirement Plan'
Page 343 and 344:
If Toffler is right, and if a monet
Page 345 and 346:
This book delves into our collectiv
Page 347 and 348:
'When I was young, I thought that m
Page 349 and 350:
As the nation-states became the pow
Page 351 and 352:
enterprises', a definition quite co
Page 353 and 354:
usiness or consumer loans. This is
Page 355 and 356:
A stock is a fraction of ownership
Page 357 and 358:
perspective. Such volume amounts to
Page 359 and 360:
whose values would be determined pr
Page 361 and 362:
you know what you are doing, the re
Page 363 and 364:
demonstrated time and again - from
Page 365 and 366:
arrangements have made any signific
Page 367 and 368:
developments in the currency market
Page 369 and 370:
Stable or unstable, that is the que
Page 371 and 372:
We started this Primer with the que
Page 373 and 374:
Watutsi in Africa -'He is worth one
Page 375 and 376:
national currencies); changes in ke
Page 377 and 378:
Floating Exchange Rate: Rate at whi
Page 379 and 380:
LETS: Acronym for Local Exchange Tr
Page 381 and 382:
Scrip: Private currency usually ini
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