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Spirit of Money - Free Money
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Silvio Gesell bridge to social money by reform |
one dollar in services state of iowa stamp note merchandise bill banknote |
money reform magazine - make money equal to work Silvio Gesell 1903 |
Werner Onken Gesell experte economist money theory thinker |
poverty slavery wrong money soup kitchen charity inequality no dignity |
Michael Unterguggenberger mere of Oberwoergel Moeny experiment Gesell |
Nothilfe woergl 1 schiling - care for eldery - taxes were paid in advance |
Worgel austria moeny reform created bridges school kindergarten |
stopped money experiment BROUGHT ABOUT NAZI occupation |
Profit sharing participation in industry national socialist propaganda - it never happened |
Irving Fisher tried convince roosevelt to use Gesell vanishing money |
FDR Franklin Delano Roosevelt - refused natural money that fouls |
Industry pollution chimneys steel coal factories |
Fritz Thyssen - I need the crisis now. - Die Krise brauche ich jetzt |
militarism war profits banking murder capitol capital 1930s |
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warriors forced to murder family fathers like themselves for war profits |
B29 bomber disintegrating - technological develpment at no cost to industry |
Widows and miles of war cementaries - graves for male able body propaganda victims |
Bretton Woods - criminal currency system - pro banker anti people |
John Maynard Keynes understood Free Money and Silvio Gesell's social credit |
Banque de France - French National Bank - Central for Mafia-like usury and exploitation |
United Nations Geneva - UNO Genf - World Currency we need the New World Order |
Bernard Lietaer Leitaer Lietear Bernd Bernhard Banker Moeny Credit expert Grand Place Brussels |
Bernard Lietaer Euro inventor Belgium federal reserve Banker |
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Silvio Gesell's mother was Wallonian and his father came from Aachen
Austria's Tyrolean community of Wrgl launched a scheme based on [Gesell's] theories, in 1932, reputed to have slashed unemployment at the height of the Depression. It was watched by Keynes and Irving Fisher, who saw a fast-depreciating currency as a possible answer to the 1930s "liquidity trap".
Many people criticize the fact that governments pay interest for the use of their own money
This leaves the state of a nation's economy susceptible to the interests of private bankers who create the money.
Prominent economists criticise existing global financial institutions like the World Bank and International Monetary Fund and their policies regarding money supply, banks and debt in developing nations.
We a need wholesale reform of money and currency, based on ideas from green economics or Natural Capitalism, would be beneficial. These include the ideas of soft currency, barter and the local service economy.
Local currency systems can operate within small communities, outside of government systems, and use specially printed notes or tokens called scrips for exchange. Barter takes this further by swapping goods and services directly; a compromise being the Local Exchange Trading Systems (LETS) scheme: a formalised system of Community-based economics that records members' mutual credit in a central location.
In 1891 Silvio Gesell (1862-1930) a German-born entrepreneur living in Buenos Aires published a short booklet entitled Die Reformation im Mnzwesen als Brcke zum sozialen Staat (Currency Reform as a Bridge to the Social State), the first of a series of pamphlets presenting a critical examination of the monetary system. It laid the foundation for an extensive body of writing inquiring into the causes of social problems and suggesting practical reform measures. His experiences during an economic crisis at that time in Argentina led Gesell to a viewpoint substantially at odds with the Marxist analysis of the social question: the exploitation of human labour does not have its origins in the private ownership of the means of production, but rather occurs primarily in the sphere of distribution due to structural defects in the monetary system.
Like the ancient Greek philosopher Aristoteles, Gesell recognised money's contradictory dual role as a medium of exchange for facilitating economic activity on the one hand and as an instrument of power capable of dominating the market on the other hand. The starting point for Gesell's investigations was the following question: How could money's characteristics as a usurious instrument of power be overcome, without eliminating its positive qualities as a neutral medium of exchange ?
He attributed this market-dominating power to two fundamental characteristics of conventional money: Firstly, money as a medium of demand is capable of being hoarded in contrast to human labor or goods and services on the supply side of the economic equation. It can be temporarily withheld from the market for speculative purposes without its holder being exposed to significant losses.
Secondly, money enjoys the advantage of superior liquidity to goods and services. In other words, it can be put into use at almost any time or place and so enjoys a flexibility of deployment similar to that of a joker in a card game. These two characteristics of money give its holders a privileged position over the suppliers of goods and services. This is especially true for those who hold or control large amounts of money.
They can disrupt the dynamic flow of economic activity, of purchases and sales, savings and investment. This power enables the holders of money to demand the payment of interest as a reward for agreeing to refrain from speculative hoarding thereby allowing money to circulate in the economy.
This intrinsic power of money is not dependent on its actual hoarding, but rather on its potential to disrupt economic activity which enables it to extract a tribute in the form of interest in return for allowing the "metabolic exchange" of goods and services in the "social organism". The "return on capital" is accorded priority over broader economic considerations and production becomes attuned more to the monetary interest rate than to the real needs of human beings.
Long-term positive interest rates of interest disturb the balance of profit and loss necessary for the decentralized self-regulation of markets. Gesell was of the opinion that this led to a dysfunction of the social system exhibiting very complex symptoms: the non-neutrality of interest-bearing money results in an inequitable distribution of income which no longer reflects actual differences in productivity. This in turn leads to a concentration of monetary as well as of non-monetary capital and therefore to the predominance of monopolistic structures in the economy.
Since it is the holders of money who ultimately decide whether it circulates or stands still, money can't flow "automatically" like blood in the human body. The circulation and the correct dosage of the monetary supply can't be brought under effective public control; deflationary and inflationary fluctuations of the general price level are inevitable. In the course of the business cycle when declining interest rates cause large amounts of money to be withheld from the market until the outlook for profitable investments improves, the result is economic stagnation and unemployment.
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