THE FUTURE OF MONEY Bernard A. Lietaer - library.uniteddiversity ...

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1979: Creation of the European Currency Unit (ECU) as a monetary convergence and integration tool, and as an intra-European accounting and payment unit. Twelve countries are involved. 1984: Brunei joins ASEAN. 1992: 'Maastricht Treaty' commits Europe to a single currency by the turn of the century in what has now become the 'European Union' (EU). 1995: Vietnam joins ASEAN. 1996: Formation of the North American Free Trade Association (NAFTA), a free trade zone regrouping the VS, Canada and Mexico. 1997: Laos and Myanmar join ASEAN. Japan proposes a $100 billion Asian Monetary Fund, separate from the IMF; this proposal is blocked by the US and the UK. 1999: The ECU is replaced formally by the euro, a single European currency with a core group of eleven countries. Mercosur (Brazil, Argentina, Uruguay and Paraguay) starts NAFTA negotiations. 2001: Chile joins NAFTA. Several additional European countries join the euro-zone. 2003: ASEAN formally announces the intent to create a single Asean Yuan currency zone. Japan and China become associate members of the Yuan currency project. 2004: Post-Castro Cuba and several other Latin American countries join NAFTA.
2005: The last European holdout, Britain, joins the euro after a hotly debated referendum. 2007: Taiwan peacefully joins China under a 'one country, one currency, several systems' principle. 2010: Single Yuan currency zone operational. Several additional Asian countries join the initial core group. 2012: Formation of the NAFTA dollar zone. 2020: Tripartite Treaty of economic co-operation between the three major free trade zones. (European Union, ASEAN and NAFTA). 3 Some national currencies In many countries, national currencies will still be used for a long time. They continue to play an important role within any country that has not joined a formal multinational currency integration system. Most exchanges continue to involve national currencies at least in partial payments, if for no other reason than that they remain the official 'legal tender' with which national taxes are paid. The main difference from the past is that national currencies do not maintain their totally monopolistic role as means of payment. Many payments are mixed - involving both national currencies, corporate scrips or Internet currencies in a single transaction. The only places where the national currencies have kept intact their old monopoly are a few underdeveloped countries, such as Albania and a few other backward dictatorships, where the priority given to political control over the Net has kept the cyber economy completely out.
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THE FUTURE OF MONEY Bernard A. Liet
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*Monetary Instability; * and an Inf
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First and foremost, these money inn
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Stories There will also be stories
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1992, remarked. ‘I used to think
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to entirely computerize the traditi
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All four of these megatrends will b
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The following hard 'money question'
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important factor of production is b
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he or she would be ruthlessly punis
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Cardon Cartoon 'Remaining locked in
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system in our own bodies (see sideb
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Please note that none of the approa
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All four cameos are set in the year
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official national clearinghouse to
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With the growth in productivity tha
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hundred such grass-roots projects a
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Cathedrals' (the 'Central Middle Ag
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Without throwing away the positive
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But let us begin at the beginning,
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Less obvious is the mechanism of th
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The Arab scholar Ibn Khaldun claime
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Matters of belief and social conven
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paper that stated where the metal w
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and imagination, launched or comple
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What happened instead was a slow an
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arrangement has serious negative co
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anker has an additional veil. In th
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The story from Australia (see box)
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the eleventh round - as part of the
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A third systematic effect of intere
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ealistic possibilities for graduall
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Just one facet of it - the Internet
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the more of us have it. Government
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intervene in (or muck up, depending
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automatically to crowd out competit
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$29.95 CD ROM version of the game h
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paper books, a printer-binder - loc
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The real revolution of possibilitie
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In Open Finance, the financial inst
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'We can be knowledgeable with other
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They just evolved and ended up refl
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Peter Schwartz, president of the Gl
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with this Official Future is that i
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the remaining 5% will succeed at pe
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with him, perhaps because this was
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payment and phone call made with tr
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He continued, 'The turning point fo
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these cyber-terrorists. "Love it, o
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financial deal in history so far, a
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specialised issuing corporations wi
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their goods. CUC presents that info
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demographic, and transaction data H
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The most effective solution for avo
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· Since May 1998 in Berlin, German
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mysteries of the universe they live
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· However, there is also a growing
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will have enough money to run an el
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In 2WO, my folks moved to idaho to
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I think I'll try to take you to Eur
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Professor Robert Guttman of the Eco
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as a monetary problem in the late 1
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2020: The girl in the nightmare on
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parents. Most of them had either be
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what was left of his hair. The comb
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long as they could remember. Their
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Figure 4.5 shows that the number of
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that 23% failed to participate beca
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street in our cities could become a
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occurring. And they are not the onl
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the ride over the next couple of de
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This topic will be tackled by explo
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There are two ways by which our hea
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ecame competitive with the Third Wo
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ecause I was there at the beginning
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now to 2010, has focused on cutting
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that his factory workers could buy
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Socio-political consequences Within
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iot troops). The fighting lasted th
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Everybody takes a defensive positio
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that we can always create jobs by p
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usiness boom cycle, or whether we a
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The game can be played with one or
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that many have jobs but are not doi
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strongly hierarchical and centralis
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hoarding fee technically called 'de
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1933 (Figure 5.1). This graph also
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year, Unterguggenberger addressed a
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complementary currency systems as '
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have this power should not amaze us
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In contrast, a complementary curren
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freshly baked whole wheat bread. Am
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to goods and services they might no
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David James, a Quaker from Whangare
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Currently, Australia has the highes
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underlying principle - I dared more
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asset. As is true with all currenci
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has an interest-free (unsecured) li
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type currencies, others Hureai Kipp
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The Cafe de la Paz in Berkeley, CA,
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that more economic activity - imply
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society provide the elderly with th
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Anthropologists have found that com
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Monasteries knew all about monetary
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two families formally join to creat
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Revolution. Pelt traders moved in t
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currencies. Practice has demonstrat
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credit for one hour, while Joe gets
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In a world where pensioners are bec
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than dollars, you may prefer to go
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more human contact, more communicat
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uilding streets, Lerner's team inve
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on the condition that the other sid
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and a higher educational level than
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The Japanese population is the seco
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effectively. But it has nevertheles
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culture. He said: 'Today we are inc
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system ledger for transparent accou
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All the pieces of the puzzle, inclu
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component should always more than c
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communities have not always been aw
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additional step needed to create th
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insurmountable obstacles. However,
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an interest in accepting well- desi
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described in the previous chapter -
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There are several significant reaso
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mind, it may well be currency,' sai
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What is at stake is quite substanti
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Furthermore, there is a growing con
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different reactions to the same com
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The US went one step further by hav
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2 Such improvements do not require
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The hard part of creating currency
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table should help in such a selecti
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is the ROCS, because it brings toge
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· 'Faced with widespread destructi
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We should start by acknowledging th
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the rate at which humanity destroys
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The importance of realigning financ
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ick wall with his forehead, he was
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duration of the project. (All value
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· and an adjustment reflecting the
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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
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Page 301 and 302: The site was familiar - I could per
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Page 307 and 308: other she wasn't. This amounted to
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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
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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
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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
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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
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Page 363 and 364: demonstrated time and again - from
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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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