NGO Another Way (Stichting
Bakens Verzet), 1018 AM
SELF-FINANCING, ECOLOGICAL, SUSTAINABLE, LOCAL INTEGRATED DEVELOPMENT PROJECTS
FOR THE WORLD’S POOR.
Downloads (updated 03 October 2011)
Edition 01 : 23 January, 2013.
Edition 17 :23 October, 2014.
HOW THE WORLD’S POOR CAN IMPROVE THEIR QUALITY OF LIFE AND MEET THE MILLENNIUM DEVELOPMENT GOALS.
PRACTICAL MONETARY REFORM.
(Stichting Bakens Verzet has endorsed the Earth Charter.)
MONETARY REFORM: HOW OUR FINANCIAL SYSTEM ACTUALLY WORKS AND HOW TO CORRECT IT.
The world's debt problem is that too many people have
been getting something for nothing for too long. Unearned income in the
form of interest paid on bank
deposits doesn’t produce anything. The additional debt needed to support
that unearned income must be serviced by the productive economy but can
never be repaid. Both the unearned income and the debt needed to support
it increase exponentially.
Some nations have also been living beyond their means in their dealings with others, creating current account deficits that accumulate over time. Those deficits add more to the debt the debtor nations must service and to the amount of unearned income the productive economy must pay local and foreign deposit holders. They also lead to foreign ownership of debtor economies and greater exchange rate instability.
In some countries the total debt is now so large that the unearned income being paid for doing nothing exceeds the growth of the productive economy. Income earners cannot pay all the unearned income that deposit holders expect without reducing their own disposable incomes. Total economic output then shrinks, causing worldwide economic collapse.
The solutions are to remove deposit interest from the financial system and to repay the banks' foreign debt.
To remove deposit interest from the money supply, publicly issued interest-free money will need to replace private interest-bearing bank debt, and the amount of money in circulation will need to be carefully managed. Normal banking operations and bank profits will not be affected by the change because inflation will be kept close to zero and the financial system will become almost risk-free.
Foreign debt can be repaid by introducing a tax-neutral Foreign Exchange Surcharge to raise the cost of foreign transactions in debtor countries so their current accounts become positive.
Removing deposit interest on bank deposits means that local interest rates will fall to low levels. Local borrowers will not be paying enough interest on their loans to enable the banks to service their foreign debt. To fix the shortfall during the transition period, the agency in charge of the public money supply will manage and fund the banks' foreign interest costs until their foreign debt has been repaid.
A. ORIGINAL PAPERS IN ALPHABETICAL ORDER.
General summary of all papers published.(Revised edition).
(The following items have not been revised. They show the historic development of the work. )
Analysis of Jackson, A., Dyson, B., Hodgson, G. The Positive Money
Proposal – Plan for Monetary Reform, Positive Money,
Analysis of the New Zealand Initiative (NZI) paper by B. Wilkinson : New Zealand’s Global Links : Foreign Ownership and the Status of New Zealand’s Net International Investment. (Posted 11 May, 2013.)
Chicago Plan Revisited Version II: An insufficient response to financial system failure. (Posted 11 May, 2013.)
Comments on the original IMF (Benes and Kumhof) paper “The Chicago Plan Revisited”. (Posted 20 August, 2012.)
The end of capitalism : Systemic collapse. (24 August, 2013).
Increases in export income from price rises abroad are not growth. (26 August, 2013).
There’s no such thing as affordable housing. (15 June, 2013).
What about a tax cut for the poor? (16 May, 2013).
W.K.; Sapinksi, J.P., International
Sociology, Vol. 25 no. 4 pp. 501-538, Sage Publications,
The Transnational Insitute (TNI),
For the domination of the financial lobby in European decision making see Wolff, M. and others, The Fire Power of the Financial Lobby : A Survey of the Size of the Financial Lobby at EU Level, Corporate European Observatory (CEO) with the Austrian Federal Chamber of Labour and the Austrian Trade Union Federation IÖGB), Brussels, April 2014. Understating reality by using minimal salaries and excluding event organisation, travel costs and taxation, some 1700 financial lobbyists working for 700 organisations (450 of which are unregistered) spend € 123 million a year on lobbying EU institutions, 30 times more than NGOs, Trade Unions and Consumer Associations together. They account for more than 70% of lobby meetings with EU institutions and have dominated with up to a 94% participation 15 out of the 17 “Expert Groups” on financial topics, the exceptions being the two “users” groups.
Super-secret negotiations are under way which would still further expand the almost unlimited dominating power of the finance industry. See Wikileaks Secret Trade in Services Agreement, under negotiation, Annex 10. For preliminary comments on it see Kelsey J, Memorandum on the Leaked [Secret] TISA [Trade in Services] Financial Services Text which is also published by Wikileaks.
By every measure, the big banks are [37%] bigger [than in 2008], S.Gandel, fortune.com, Time Inc, 13 September, 2013.
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Money is not the key that opens the gates of the market but the bolt that bars them."
Gesell, Silvio, The Natural Economic Order, revised
English edition, Peter Owen,
“You shall not crucify mankind upon a cross of gold.”
William Jennings Bryan, Official Minutes of the National Democratic Convention, Chicago, Illinois, July 7-11, 1896, (Logansport, Indiana, 1896), 226–234.
“The god they serve, the financial system, is a dying god.”
C. Eisenstein, Occupy Wall Street: No Demand is Big Enough, Reality Sandwich, 6th October, 2011.
“Poverty is created scarcity”
Wahu Kaara, point 8 of the Global Call to Action Against Poverty, 58th annual NGO Conference, United Nations, New York 7 September 2005.
“Where is the thicket ? Gone. Where is the eagle? Gone. The end of living and the beginning of survival.”
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