Critics of quantitative easing highlight the absurdity of creating money from nothing to paper over terrible investment decisions. Yet, what about all of the money created by banks before 2008? Incorrect narratives of money have misdirected and befuddled our thinking on finance and currency, limiting our responses to the global financial crisis. Can we learn about the internal dynamics of financial and monetary regimes in enough time to develop a positive response to the next financial crisis?
In Extraenvironmentalist #75 we discuss our global systems of money and finance with Ben Dyson of Positive Money UK and the themes in his new book Modernizing Money: Why Our Monetary System is Broken and How it Can be Fixed. Ben tells us why journalists, academics, economists and citizens have so much difficulty talking in an intelligent way about our money system. Then, Brett Scott joins us to describe the ways he was able to apply an anthropologist's approach to work as a derivatives trader. Brett discusses his book, The Heretic's Guide to Global Finance: Hacking the Future of Money as he describes leverage points where activists can disrupt global financial flows to support ecological and social initiatives.
// Books
Modernizing Money: Why Our Monetary System is Broken and How it Can be Fixed by Andrew Jackson & Ben Dyson
Where Does Money Come From by Positive Money UK
The Heretic's Guide to Global Finance: Hacking the Future of Money by Brett Scott
// Links and News Items
News Item #1. "Global riot epidemic due to demise of cheap fossil fuels" http://bit.ly/NgG4qD /via @NafeezAhmed
News Item #2. India's economic growth set to reach near decade-low
News Item #3: Chinese cities outstripping whole countries in infrastructure debt
#4. Richard Heinberg video: http://www.youtube.com/watch?v=OIAFRzaHnb4&list=UUTcsCH5wXNwGKTM_tLG8zrQ&feature=share
// Extended Clips (in order of appearance)
[Break] - 23m
George Magnus - The Next Financial Crisis Has Already Begun
Argentina Inflation
China's Suntech Default
China's LDK Solar Default
Debt and Overcapacity in China
Jim Rogers on RT
Venezuelans Struggle with Inflation
[End]
Documentary:How China Fooled the World
// Music (in Order of Appearance)
Why don't you do right - Cab Canavaral feat. Nina K Lucas (Skeewiff Remix)
DEFKLINE & RED POLO VS DANCEFLOOR - Spinning Wheels
JUNGLE. - Busy Earnin' via Stereogum
Colvin Quarmby - Men in the Grey Flanneled Suit via Russell Hill's Country Music Show
Sam Smith - Money on My Mind (Chris Montana Edit)
Bugseed - Puzzlement (en tokyo - four)
// Production Credits
Our correspondent and editor Kevin via Sustainable Guidance Youtube Channel
Episode #75 was supported by donations from the following generous listeners:
Deric in WA
Freddie in MA
Natalie in BC
Nancy in CO
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