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A Bankless Economy

We have written often about the nature of our economic system, which is a carbon credit system. The reason was that our economic system incentivises the use of fossil fuels because it tries to maximize cashflow for banks. At the same time banks object to development of privately owned renewables because they own the monopoly on fossil credit creation, and renewables reduces the need for this credit.

The mindfuck the world is conditioned to believe, very similar to religious believes is that this kind of economics is a good system, and unavoidable system, one in which hard work payes, one in which the rich with lots of cash are king. Of course banks are king. In fact oil companies should be king. The big mindfuck is that oil companies sell their oil to pay bills to banks, and countries like Saudi Arabia today is in trouble because they recieve so little money for their oil. But their oil IS what gives our money its value. They should just only sell the oil in Riyal, like Iran. They should forget about any debt to Wallstreet. If they did you’d see what keeps the system as it is : Military power.

Because of people’s misunderstanding of their own power banks are now buying up oil resources. “Whit what?” you could ask. Well, with money. Banks can create money out of thin air. If you spend the money you expect people to be producing stuff you can buy. The value of your cash completely depends on what people are producing. Without oil, no production, shipping, mining. Renewables only cover a small portion of this. So why not just keep the oil and trade it for goods and services? Because banks made everyone crazy.

Going back in history it all began with lack of trust and insecurity, people who accumulated wealth but had no use for it basically got mugged into entrusting it to someone else. This is the less romantic view. The Medici where bankers and maffia, quite a number where killed, but their backup was that they also held the papal position, so they had a bigger army to help them from Rome in times of need. Coercion and distrust are the basis of banking. The best strategy about banks would be to take away their privilige to create money. All banks should be nationalized under governments simply because governments have different objectives than private banks. Banks depend on governments to secure the oil that gives thier credit value, but then they run away with the profit!

The goal of a government, when it is supported by the people will be to serve the interests of the people. Keep them healty, secure vaccines against coronavirus, work on it in advance etc. It is a clear sign our governments have been hijacked by banks because both Trump and the dutch government did not see the use of preventive action against pandemics. Obama and GW Bush understood the threat. We could have a bubonic plague killing 50% of people instead of 3.5%, we would not be able to respond. We are very lucky. The bankers say “How can you prepare for such a rare event”, but this is exactly what you should perpare for! An example in history is Englands defeat of the vikings when they came raiding -again- because the leader had prepared the island for years.

One conclusion could be “The web of bank dependence is to wide and its succes is to reliable to defeat it”. That is the truth. Fossil fuels are being delivered very reliably for bank created credit, and if banks are allowed to hoax people into selling their wells for paper this will remain the case. Banks become the ones that distribute the power of their own fossil fuel assets, and people that need power will borrow from banks. This would lead us to inevitable climate chaos and death for almost everything alive on Earth. I saw a book about the end of civilizations, f.i. the Easter Islanders, why did they vanish, and then think how little we know about what kind of racket they where stuck in. Competing tree cutting clans? Compare to Yemen, that is about to run out of water. You don’t see it when you open the faucet until it happens, why would you respond?

The other conclusion could be “We need to compete with banks”. This starts with ownership of land, and control of politics. This can not be done without developing power. But power is for sale, solar, wind geothermal, wave energy all kan be a source of real power. Farmers can use wind energy to power the vehicles, work the land, generate fertilizer. This would cut them loose from banks as they would earn ‘carboncredits’ by selling their produce, but their cost would be close to zero. Banks have made sure not to fund projects that make farmers independent. This is one of the ways to take power back.

Any renewable energy project that is not debt loaded, where banks are not involved (even though they can increase the size of your project) is a candidate for true power. These are of course fought on every scale. Banks know this very well. This is what banks are terrified of. A super big renewable energy project owned by the state. It will be fucked with by banks until it lands into deep debt with the same banks. You could have Italy funneling all tourist tax into state owned solar, to be sold only by its central bank. Of course that central bank has a much larger interest in selling fossil credit so that would not work out.

Extraeconomic Nuclei

The only viable strategy is to look locally and invest in renewables to power local business that really produce something. Not a tanning salon but a car factory or bakery for example. The investment would have to be community cash, and the community would recieve dividend from the baker or factory. This would be an example of an extraeconomic system.

An extraeconomic activity is one that does not lend itself to economic exploitation. No debt can be loaded on it. This can be because it is fully owned by someone or a group or people while being debt free. Usually the energy requirement quickly ties an activity into the wider economy, because if you run a bakery for instance, you need gas or electricity for the stove, and to buy this you need Euro or USD and so you have to sell into the Euro/USD (or other carboncurrency) market. Of course your income from selling bread doesn’t only go to your gas/electricity but also to the supplier of flour who passes it on to the farmer who uses it to buy the diesel for his machines. Your bakery is only really extraeconomic if it bakes with owned energy sources, if the flour was milled with owned energy sources, if the farmer owns the field and the equipment was run electrically or with biodiesel from an owned source, e.g. if there was no wider fossil based economic system you depended upon. This means bankers that can simply print money can not grab what you own or created.