Iceland Stuns Banks: Plans To Take Back The Power To Create Money. Submitted by Raul Ilargi Meijer via The Automatic Earth blog, Who knew that the revolution would start with those radical Icelanders?
It does, though. One Frosti Sigurjonsson, a lawmaker from the ruling Progress Party, issued a report today that suggests taking the power to create money away from commercial banks, and hand it to the central bank and, ultimately, Parliament. Can’t see commercial banks in the western world be too happy with this. They must be contemplating wiping the island nation off the map. Everyone, with the possible exception of Paul Krugman, understands why this is a very sound idea. Iceland Looks At Ending Boom And Bust With Radical Money Plan Iceland’s government is considering a revolutionary monetary proposal – removing the power of commercial banks to create money and handing it to the central bank. Iceland Monetary Reform Your rating: None Average: 4.9 (32 votes) Humanity Seen » For the Love of Money.
This nuanced film explores the depth of our profound relationship with money.
I believe it deserves more than a solitary viewing. It starts; Money was originally intended as a facility to help accelerate the progress of our dreams, ideas, talents and actions. Bitcoin. Bitcoins are created as a reward in a competition in which users offer their computing power to verify and record bitcoin transactions into the blockchain.
This activity is referred to as mining and successful miners are rewarded with transaction fees and newly created bitcoins.:5–7 Besides being obtained by mining, bitcoins can be exchanged for other currencies, products, and services. When sending bitcoins, users can pay an optional transaction fee to the miners. This may expedite the transaction being confirmed. According to a research produced by Cambridge University in 2017, there are between 2.9 million and 5.8 million unique users actively using a cryptocurrency wallet, most of them using bitcoin. The number of active users has grown significantly since 2013 (there were 0.3 to 1.3 million unique users at the time). Own your own Bitcoin Exchange. Charles Eisenstein on the Next Step for Digital Currency. US authorities launch their first attack on bitcoin. By Adam L. Penenberg On May 15, 2013 Yesterday the Department of Homeland Security served the Dwolla mobile payment service with a court order requiring it to immediately cease all account activities with the Mt.
Gox bitcoin exchange. Today it appears that Mt. Gox, based in Japan, has been cut off from Internet. In the warrant ( Ars Technica has posted it) Mt. It was only a matter of time before the US government took action against bitcoin, the completely digital, crypto-based currency that offers its users far greater anonymity in transactions. If history is any guide, the government will act aggressively against Karpeles. Bitcoin Is Pointless as a Currency, But It Could Change the World Anyway. Sovereign governments everywhere are petrified.
Economic Localization. Transition's strategic response to the issues of Peak Oil, Climate Change and Economic Contraction is to accelerate the localization of our economy in essential goods and services.
The focus is on food, wellness, water, energy and culture. Our goal is to build community resilience on the road to longer term stability. Transition Town Peterborough has become a champion as outlined in the Sustainable Peterborough Plan document and as a result has produced an economic localization strategic framework document to expand and enhance the economic portion of the Sustinability Plan for Peterborough. The effort is concentrated on establishing a framework in which new and existing projects will benefit from an overall plan. Money As Debt - Full Length Documentary. What is Modern Monetary Theory, or “MMT”? By Dale Pierce.
Cross posted from New Economic Perspectives Modern Monetary Theory is a way of doing economics that incorporates a clear understanding of the way our present-day monetary system actually works – it emphasizes the frequently misunderstood dynamics of our so-called “fiat-money” economy. Most people are unnerved by the thought that money isn’t “backed” by anything anymore – backed by gold, for example. They’re afraid that this makes money a less reliable store of value. And, of course, it is perfectly true that a poorly managed monetary system, or one which is experiencing something like an oil-price shock, can also experience inflation.
The great virtue of modern, fiat money is that it can be managed flexibly enough to prevent *both* deflation and also any truly damaging level of inflation – that is, a situation where prices are rising faster than wages, or where both are rising so fast they distort a country’s internal or external markets. Money is 100% fungible. The Cashless Utopia Mirage. The Anonymity Fantasy - The Huffington Post. My latest on brave new digital money is here.
(Some persnickety BBC editor needed to change "cash-killing tear" into "cash-killing mission," but whatevs. It's mainly in tact.) Headed my way, no doubt, are a slew of critical letters, posts and tweets about lost privacy in the digital age, and how electronic transactions promise to erode the last vestiges of privacy.