News & Analysis
Let the Elites Have Their Silly Gold and Silver ... Use Local Money to Create Sustainable Economies!
Can local currencies help advance global sustainability? Local financial systems that put people and the environment at their heart are welcome, but can these new models be truly scaled? Local currencies can encourage shoppers to buy local, purchasing their goods at nearby shops and markets ... By definition, they can be exchanged for goods only in a limited region. So why participate? The core reason for the uptake of local currencies is their promise to serve the real needs of local people in ways that national monetary and financial systems do not. They represent a possible path to a future that is more socially, financially, and environmentally sustainable. – The Guardian
Dominant Social Theme: Let the elites have their Money Power. Give us sustainable economies supported by barter!
Free-Market Analysis: Elite memes run deep. If the speculative reports are true, the top elites have about US$35 trillion buried in various backwaters, probably a good amount held in gold.
These top elites apparently spend most of their waking hours – and they have a lot of leisure time – figuring out ways to confuse the rest of us.
As we have pointed out for years, the main methodology is via dominant social themes – scarcity promotions. The top elites – a tiny handful of people and their enablers and associates – wish to frighten people into giving up wealth and power to globalist solutions.
What we call the Internet Reformation has exposed these memes and their manipulative impact. And thus, the elites have been forced to roam farther afield in their manipulative efforts.
They have apparently implemented economic crises, created wars, renewed regulatory authoritarianism and spread confusion via false flags.
Because so many people were beginning to understand the destructive effects of the elites' main source of wealth – monopoly central banking – a good deal of energy has been apparently expended in creating a suitable alternative.
And by "suitable" we mean one that maintains elite control.
Monetary false flags abound. The Daily Bell has been subject to scurrilous attacks because it has identified some of these false flags and suggested free-market alternatives.
Money should be designed by the marketplace. In fact, that's how it REALLY works, historically anyway. Both gold and silver became popular because of monetary competition. And gold and silver continue to be seen as money to this day, often in tandem.
The power elite has slyly offered other paradigms. We've gradually become aware of them and shared our analysis as best we can. What has occurred to us over time is that many of these systems partake of National Socialism – they are NAZI solutions implemented by Hitler in his day.
Fascism, like socialism, apparently, demands monopoly central banking run by the state. A public central bank, in other words. Elites are attracted to such systems because they can easily control the government that is in turn controlling the money.
Such solutions are internally inconsistent, in our view. We are supposed to believe that monopoly central banking run by, say, India or Brazil, is somehow superior to quasi-private central banking. The state, in other words, by working the will of the people, is better able to provide prosperity. We don't believe it.
Another apparent false flag is the idea of anti-usury money systems. The state is supposed to make it illegal for people to recognize the time value of money by charging interest. Of course, anyone who has lived under such a system knows well that people create other methodologies to compensate.
Then there are local currency systems (LETS). Those who despise freedom and wish for state control of money often propound these sorts of systems as an alternative to national control of money. But they, too, amount to the same thing.
And that same thing is elite control of money. We've tracked this LETS buildup the way we track other elite memes. We noticed right away that it was being conflated with a "green" agenda. Conservationism is another elite meme designed to reduce living standards and provide justification for authoritarian measures.
Now we see that LETS systems – often quasi-barter systems – are being conflated with the elites' "sustainable" meme. The elites have a great deal of trouble defining what "sustainable" is, but it certainly sounds impressive. And because no one can define it, it provides justification for numerous authoritarian measures. You can see one of our articles on the sustainable meme here: Are Multinationals Good Citizens?
The company in question is trying hard to reduce its emissions of carbon dioxide and has made it a corporate goal. Yet there is no real consensus on global warming much less whether it is manmade.
The company is costing itself and its shareholders quite a bit of money, no doubt, by implementing systems to reduce carbon dioxide generation when humanity's ENTIRE contribution to the world's greenhouse effect is infinitesimal, as most is generated by water vapor.
Elites propound such fiction for purposes of control. And that goes for LETS systems, as well.
LETS systems are usually "open book" systems that demand every transaction be accounted for. A person using LETS for his or her professional compensation is revealing every part of his workaday effort to authorities if they choose to check the general ledger.
From an elite standpoint, such transparency is much to be desired, as it makes additional taxes far more easy to implement. Another point is that those who use LETS systems are perhaps not likely to try to put their savings in gold or silver.
Since gold and silver are historically a valuable form of money, the usage of LETS – and similar monetary systems – deprive people of historical savings that can be used in a crisis. Money Power is entirely foregone, leaving the elites to gather more while others are distracted by local barter.
We've written about LETS systems and other such monetary systems at length. We have questioned why the UN is such a proponent of such systems and why there is so much effort being made to package these systems with elite nostrums such as "sustainability" and various environmental concerns generally.
You can see some of our articles here:
Paper Money and the UN Perfect Together? More Currency and Credit Exchanges Supported by the UN
Are 'Green' Reciprocal Exchange and Credit Systems Part of a Larger Elite Promotion?
And here are some related posts:
Austrian Business Cycle Analysis Explains the Misery of the World
Now Let Us Celebrate Tally Sticks ... or Not
In Praise of Gentle Deflation Against Greenbackers and Other Paper Promoters
The top elites are evidently and obviously desperate to blunt the libertarían attacks on monopoly central banking. They are trying to move the conversation to other kinds of state run money that they can control. They also want to disassociate gold and silver from the discussion of money so Money Power is not diluted.
Conclusion: Don't be confused by monetary propaganda.
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Posted by Summer on 02/07/13 02:00 PM
Bring on local interest-free banking and interest-free currencies.
Down with Money Power, down with their enablers.
No more interest-theft!
People are waking up to the fact that structures, or lack of don't explain the state of affairs. Morality and systems are what count.
Corruption is rife. The interest system transfers 80% of wealth to 10% as brilliantly elaborated by Margrit Kennedy.
It must end. People will decide how.
Click to view link
Reply from The Daily Bell
Ms. Kennedy, formerly of UNESCO, is too close to the UN for our liking.
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Posted by bruce56 on 02/07/13 10:06 AM
In the course of developing a local currency system several years ago, I studied why such systems have been relatively unsuccessful, with negligible economic impact or penetration. I proceeded to formulate what I call the "Law of Local Currencies" and wrote an article on this topic.
[a style="text-decoration:underline;" href="Click to view link" target="_blank" onclick="if (this.getAttribute( 'href' ).indexOf( '://' ) == -1){ this.href = ('http://' + this.getAttribute( 'href' )); }"]Click to view link[/a]
The Law of Local Currencies states that: "The degree of economic activity accounted for by a local currency cannot exceed the degree of self sufficiency of the community in which it is used." In other words, if a community produces 5% of the goods and services that it consumes (probably, in this age of specialization and globalization, a very generous estimate for most communities), then the local currency cannot account for any more than 5% of the economic volume of that community, and at least 95% of the economic volume of that community will use the traditional currency.
If a high degree of self sufficiency can in fact be attained, then it seems reasonable that this is also a form of protection from, and insulation against global governance. Whether the local currency promoters are advocating "green" or sustainable concepts is less important than whether such concepts help in the furtherance of the self sufficiency goal (e.g. local organic food production or solar power result in less dependence on outside food, chemical or energy resources.)
My local currency system (and perhaps many others) can be backed by gold, commodities, or any other useful items of value. It has the capacity to print money, but that right can be designated to reside in responsible hands where community interest supersedes personal greed or political interest. Transactions do not need to be disclosed. If global governance marches forward, I would rather be a part of such a system, rather than the alternative of existing in our fiat currency world.
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Posted by Cheduba on 02/07/13 05:14 AM
I recently watched NOW on PBS: Fixing the Future on Netflix, where it talked about new ways people are finding employment after the 2008 crash. Then, shockingly, there's Richard Rockefeller, a "local pioneer", on my TV telling me about receiving time credits for work and using them as a currency; I couldn't understand why he would be a proponent of an alternative currency, but now I see that they are still trying to track every transaction like with bitcoin. Thank you Daily Bell for clearing that up.
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Posted by taxesbyanyothername on 02/07/13 12:13 AM
I am already bartering. Take my word for it, money is usually better, even crappy money.
I have a couple of green shirts that I really like. It would be a pity to have to burn them. Perhaps a mass green-shirt burning demonstration is in order. If we go Gallager instead, maybe they will ban wooden mallets above a certain caliber.
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Posted by dave jr on 02/06/13 11:50 PM
Danny B,
That is not what I am trying to say.
Learned skills and honed abilities is highly transportable and can not be confiscated. Long term storage may buy some time but also makes you a target. It may be even more important to be sure one has a means to replenish.
I am not poopooing gold and silver, but the question was how to be free of elite control. I offered my stratedgy. At 50 I am not comfortable in relying on just material possessions. I still want to learn, I still want to broaden my horizons.
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Posted by Danny B on 02/06/13 10:18 PM
Re: the internet
Click to view link
Craig Jr. You are absolutely correct about PM.
If you believe that things are going to SERIOUSLY crash, you should buy enough stored food to keep going as long as possible. Farmland would be a very good purchase to keep you going. Farmland as opposed to gold is your choice. Farmland isn't portable,,, gold is.
One of the best ways to make contingency plans is to imagine what YOU would do if things crash and you DON'T have any plans. That is what a huge number of people will be doing. Your biggest concern is your proximity to a large metropolitan area.
If you are close to a city, buy a couple of weeks of food and GOLD.
If you are at least one tank of gas away from a city, think about farmland. If you have extra funds, buy silver. Buy gold second. If you are close to the ocean, think about buying a sailboat or at least, a couple of drums of diesel fuel. Sailboats use diesel fuel for close-in maneuvering.
Think about all the people who have no supplies but, recently bought guns. Choose different scenarios and prepare accordingly. Gold for mobility,,, farmland for stability. No matter what plan you adopt;
If you can't feed them all and you can't kill them all,,, you have to leave.
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Posted by bionic mosquito on 02/06/13 08:54 PM
Justin: And no DB, gold will not begin to lose its value accordingly. The quality, so preciousness, so infinite value of gold does not change whether it circulates or not. That's why it's the gold standard.
BM: Oh no, not again…. Talk about alchemy! It would be true alchemy if you figured out how to establish a value for gold that does not change!
See comments section here
Click to view link
And article (with comments) here
Click to view link
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Posted by dave jr on 02/06/13 08:47 PM
People seeking you out for your skills and abilities lasts longer than a pot of gold. But if that is not an option, then get a pot of gold.
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Posted by dave jr on 02/06/13 08:37 PM
Justin, gold may be the best mechanical device to preserve value, even better than a chicken in the freezer. But if there is an option, why not BE the source of value? Then one would not have to worry about the long term perception of others.
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Posted by Justin on 02/06/13 07:25 PM
And on the subject of money DB, take a look at the fable of King Midas. Midas received the 'gift' of being able to turn whatever he touched into gold, from the god Dionysus.
Turning whatever you touch into something precious - alchemy - is the realm of the gods.
Government & its banking cronies have the ability to turn whatever garbage they please into money, the most precious. How is this not alchemy? How are government & its banking cronies not akin to gods?
Of course the 'magic' is really a credit bubble, the likes of which has never before been seen in human history. A scam of magnitude so great that when it comes unravelled, there is little hope.
Nevertheless, as government & its banking cronies are in fact mortal, you can only expect them to do WHATEVER it takes to maintain their exhulted position. That's only human;
"What we want hasn't changed for thousands of years... . we still want the purse that will always be filled with gold... . we want to be as gods."
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Posted by Justin on 02/06/13 07:06 PM
Posted by laceja on 02/06/13 05:51 PM - since they have most of the gold and silver, "maybe it is time to return to gold and silver".
And just what are these 'elites' planning on doing with their gold & silver, once 'they' decide to return to it? Sit on it & starve? Swim in it like Uncle Scrooge? Issue irredeemable credit against it?
No, they will have to spend it to survive, thus gold will circulate. And no DB, gold will not begin to lose its value accordingly. The quality, so preciousness, so infinite value of gold does not change whether it circulates or not. That's why it's the gold standard.
Reply from The Daily Bell
"And no DB, gold will not begin to lose its value accordingly. The quality, so preciousness, so infinite value of gold does not change whether it circulates or not."
See Bionic Mosquito on this. It is simply irrefutable that throughout history a given amount of gold has purchased a variable amount of goods. What you are trying to say is that gold (or silver) like a ruler, can be used to MEASURE the variable value of OTHER goods. A yardstick does not change its dimemsions when used as a standard of measurement. You are expressing your point in-artfully.
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Posted by bionic mosquito on 02/06/13 06:13 PM
If everyone who advocated for such alternative systems would also advocate for the abandonment of utilizing force in money and credit, there might actually be a movement here. Then let the market resolve among the possibilities.
But most such advocates cannot do this, because when pressed even a little it becomes clear that [insert the pet system here] requires some form of force and coercion to bring their dream into reality. These advocates are only advocating for another system ripe for plucking by monopoly control.
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Posted by laceja on 02/06/13 05:51 PM
In my opinion, fixating on the idea of gold and silver could very well be just as destructive as fiat money. If it is true that central banks and governments have been selling their gold manipulate the "price" (what a joke, gold and silver have no price because, they "are" money), then I expect the elite are the ones who have been doing most of the buying. It is entirely possible they plan to use our own fixation on gold and silver to hit us.
Just look at what's going on with all the central banks racing to devalue their fiat currency faster than the next country. Soon, the value of every fiat currency on the planet will be totally worthless. There's only two plausible outcomes... Either the elites convince the sheeple that a single world currency is required to "fix" it all or, since they have most of the gold and silver, "maybe it is time to return to gold and silver".
Seems to me, we're being manipulated into a corner, where barter is the only way out.
Reply from The Daily Bell
Is it really dangerous to "fixate" on money metals that have been seen to have value for thousands of even tens of thousands of years? What is imprudent about recognizing this? And why, if one holds gold, is he compelled to utilize it according to elite instructions. In an anarchic situation, local prices will trump "elite instructions fronm on-high." It is very strange to think that people struggling for survival will utilize gold and silver only the umbrella of elite instructions.
Barter, gold and silver, even LETS systems all have their place - but not if they are being manufactured and positioned by elite controllers. People need to think for themsevles and gain their own independence. Gold and silver among other forms of remuneration can likely help with that process.
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Posted by Ol' Grey Ghost on 02/06/13 05:14 PM
DB said:
"Greenshirts is probably an apt description."
In the past I also called them "Greenzi's." I'm sure you can figure out the separate components of that contraction.
DB also said:
"No shells ... Each should have sufficient unto the day. One need not hoard to protect oneself. But history shows us some is prudent, does it not? The Indians seem to know that and so do Asian cultures ... "
Something about Ants, Grasshoppers, and a Greek slave named Aesop comes to mind...
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Posted by dave jr on 02/06/13 04:11 PM
@ erikSF99,
At risk of shell and mortor from the investor class here at the DB, forget about gold and silver as a personal savior. Keep enough on hand to get you through a year or two in a world gone wild.
Put the rest of your investment in whatever makes you more independent or self sufficient. From this postition of strenght, you will have an ability to trade. Invest in yourself.
Reply from The Daily Bell
No shells ... Each should have sufficient unto the day. One need not hoard to protect oneself. But history shows us some is prudent, does it not? The Indians seem to know that and so do Asian cultures ...
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Posted by Ol' Grey Ghost on 02/06/13 03:40 PM
"We noticed right away that it was being conflated with a "green" agenda."
I told y'all yesterday that they would go with "greenshirts" this time...
Reply from The Daily Bell
Greenshirts is probably an apt description.
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Posted by erikSF99 on 02/06/13 02:27 PM
Please continue to discuss this issue. Understanding this, understanding gold & silver's reentry into the monetary system, understanding local currencies, the effect of interest and ALL of it is at the heart of what we need to untangle and figure out so that we can find a way to be free from elite control.
I've read SOOOOO much but it is still hard to work it all through.
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Posted by dave jr on 02/06/13 02:16 PM
What is not 'sustainable' is monopoly. As I have said before, the world is trying to globalize due the advantages offered by increased technology. The elite have hi-jacked globalism to support their monopoly, which is an entirely seperate concept. Globalization implies an uncounted number of enties reaching markets far and wide. The elitist account of globalism is the world maket being monopolized under their control.
Monopoly is not sustainable because of the cost of shipping and location of resources. One can ship a product, profitably, far until someone sees the advantage and decides to produce it locally. In a free market distribution patterns are governed by natural resource location, cheifly among other factors. Monopoly distorts a free market, requires excess time and energy, not limited to war. It is not natural and is not sustainable, unless we sustain it at all costs.
Enter central banking, enter unlimited fiat. It seems advantageous up front, but will bite is in the behind. Fiat requires government authority. Fiat requires guns. Guns have no place in a market. Try it. And putting fiat directly into the hands of the gun men isn't just lunacy, it isn't just idiocy, it's a step toward greater criminality. IMHO.
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Posted by jconn22 on 02/06/13 12:27 PM
"... humanity's ENTIRE contribution to the world's greenhouse effect is perhaps three percent."
Humans only emit three percent OF a mere 38/1000's of 1 percent, which is the total amount of C02 in the earth's atmosphere.
Reply from The Daily Bell
Adjusted.
