By failing to question our money system, we’ve accepted an understanding of finance and fiat that’s showing its flaws greater than ever. This globalized currency system draws money out of localities and into the hands of corrupt financial institutions. Can we start recapturing these flows of money to build resilient communities? If the Federal Reserve can print money, why can’t we?

In Extraenvironmentalist #45 we speak to Michael Linton, developer of LETS and the Community Way currency system about how to open up our money to emphasize positive aspects of human nature . Michael describes how local currencies can help to overcome the feeling of scarcity imposed by a centralized national currency. We ask Michael if our federal dollars should be replaced or if we should be looking to compliment them through local money. Then, we speak with Jordan Bober who is launching the Seedstock in Vancouver, BC based on Michael’s Community Way model.

Podcast: Play in new window | Download (Duration: 1:59:59 — 109.9MB) | Embed

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Podcast (96kbps): Play in new window | Download (Duration: 1:59:59 — 82.5MB) | Embed

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// Music (in order of appearance)
Chick Bullock – Are You Making Any Money?  via Youtube
Gold Diggers of 1933 – We’re in the Money via Youtube
Matt and Kim – Let’s Go via Consequence of Sound
The Beatles x Carlos Santana x Griz x Gramatik – Don’t Let Me Change (Ego Mashup) via The Music Ninja

// Extended Clips (in order of appearance)
[Break]
FT – Libor scandal rocks banking
Max Keiser – How Tom Cruise Stole Libor
Michael Hudson – Summit MMT in Italy

[End]
Michael Hudson – Summit MMT in Italy

// Production Credits
Production Assistance  | Kevin at the Sustainable Guidance Youtube Channel

3 Comments for [ Episode #45 // Opening Money ]

MedievalFuture

Money has only one source: I work, and get paid for my labour
with colored bits of paper which are tokens of my muscle or brain output. I
then take those tokens, and buy the results of someone else’s labour, whose
work output I need. Food, fuel, medical care, whatever. Money is a token of
energy exchange, it has no intrinsic value of its own; passing it around
doesn’t create ‘wealth’ unless there is that constant input of effort. No
matter how big the amounts spent, money has value only if it is supported by
primary energy. That’s why job creation schemes always fizzle out.

Our economic system really is that simple, and has worked
that way through the entire history of civilization.

Reply

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