Evgeny Fedorov, from the Russian Parliament, explains what Russian Central Bank's role in the currency war, and then outlines how the USA is planning a coup in Russia.
It is 20 mins of subtitled Russian, so I took notes...
Thanks to Trade with Dave for bringing it to my attention.
In Russia Central bank interest rates are high (they just jumped from 10 to 17%).
Compare this to Developed countries' interest rates which are low.
That means that Roubles are used for exchange...
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Adventures in mutual credit
Is it a good idea to start a LETS in 2014? The brand is 30 years old, and has a track record littered with poor governance, currency collapse, low participation and high turnover. The domesticated hippies of the 80s and caring sharing consumers of the 90s are not the same as the Occupiers and Transitioners of today. The existing LETS projects at least in UK are failing to thrive even in recession. The movement preferred decentralisation over software coordination, and slicker projects emerge every week.
Could there be be anything worth picking from such a carcass? What would a modern...
Of course I'm jealous. People tell me every other day that my work is important, but much funding flows to demonstrably stupid projects.
I no longer seek funding or material support or even volunteers for my work. I no longer worry about funded projects overtaking mine. I have understood that what I'm doing is antithetical to money, and unlikely to be funded by any reasonable plutocrat or angel. Just as states and banks simply can't see moneyless people, projects which neither beg nor boast are invisible to donors.
Before I go further I should tell you that for six years I haven't been...
Reality check: Functions of money
Store of Value for rich people
Medium of exchange for traders/producers
measure of value etc.
No one monetary design is optimal for all functions.
A typology of money
Very little consensus on this. Important for the integrity and long term stability of the project.
For all currencies note that the issuer has a tremendous benefit by being able to thrust the money into circulation and usually to control the quantity. Recession means not enough money circulating in the economy.
Commodity money / Barter
Fully backed. What is backing? Why Gold? What if...
Last time I described several solidarity economy networks and a bit about their software situation and needs. Today I want to look at some solutions which could help them work in a more integrated way.
This article starts from the specific problem of accounting, and widens out to whole-platform approaches.
For full interoperability the accounting needs to be abstracted out of the community portal into its own service, and made accessible with an API.
For me the most interesting accounting system is Ripple because it is open and has a web API allowing anyone to plugin and log...
The failure of state-level economic policy is driving the emergence of many independent 'solidarity economy' networks accross the world. While the old story says that resources are short and the fittest will survive, these movements are forging a new story about creating local abundance together. As well as creating a new culture, a new spirituality , they are learning how to
feed themselves from their gardens better than supermarkets
maximise exchange between themselves (and each other) to keep the value local
finance sustainable enterprises,
pool risk
use underemployed people to...
Most ecovillages are progressive outposts on the frontiers of a necessary transition. Damanhur however is the centre of a nascent civilisation. With over 500 adult residents and tens of thousands of connected souls it is the largest ecovillage in Europe; it has created its own culture and its own ways of living in community and understanding and practising spirituality. The heart of the community is a massive and magnificent work, the Temple of Humanity, secretly carved into the mountain over fifteen years before being betrayed to the public.
Forty years ago the original founders held...
Reponse to What Permacredits will look like in our daily lives
Dollars won't be the currency of reference for much longer. Yuan perhaps, or a new gold-backed unit, or Special Drawing Rights, will be the next Reserve currency and and standards of value for the credulous world.
I think the chances of Litecoin becoming a major currency are very slim. We both agree with BL that monetary diversity is desirable for stability, but Litecoin isn't what I would mean by diversity. Litecoin has no marketplace outside of Bitcoin, and no story.
Bitcoin is a global general purpose asset. Backed by...
Yesterday I wrote about how using a currency strengthens the story and gives value to the acts for which that currency was issued. I suggested that anyone can informally certify socially beneficial behaviour and accept those certificates as recognition of their own contributions. Today I will discuss how that principle might pan out in the macroeconomy.
I read somewhere (anybody know?) about a money made from elaborately worked wood and leather disks, which anyone could make with a little practice. If ever anyone couldn't earn the money needed, they could just make it. In this system no-...
When we are compelled to use a currency using such violent means as legal tender laws, latterly money transmission laws, taxes, bailiffs, and the throttling of alternatives, it hardly matters where the money gets its value, or if it has value at all. The 'value' of the dollar tends to mean its price expressed in other commercial credit currencies, but the real value is what the paper represents, what justified its issue.
The emission of money is always complemented by an equivalent value exchange somewhere in time.
When fiat money is created, the issuer is effectively taking spending...
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