Oldystunde auf Englisch

verfasst von Oldy, 02.10.2000, 05:08

Es tut mir leid, aber diesmal ist die Oldystunde einmal englisch. Ich schreibe ja ohnehin genug deutsch und ich nehme an, daß die meisten der intelligenten Leute hier auch englisch verstehen, wenn sie vielleicht es auch nicht gern schreiben. Ich möchte nur die Terrageschichte vervollständigen und dazu ist hier erst einmal etwas über den Mann, der Terra propagiert und sich ausgedacht hat, Bernard Lietaer:

Bernard Lietaer has 30 years of professional experiences in the money system
including: central banker and general manager of currency funds; senior
consultant to multinational corporations; university professor and top executive
of electronic payment systems. As a senior Central Bank executive in Belgium
he was involved first-hand in the design and implementation of the ECU, the
convergence mechanism for the European single currency. He was Professor of
International Finance at the University of Louvain, Belgium, and a Fellow at the
Center for Sustainable Resources at the University of California at Berkeley,
USA. He has twelve years of experience consulting with multinational
corporations on four continents.

Ich will seine Beschreibung von Terra hier nicht ohne seine ausdrückliche Erlaubnis bringen und will euch deshalb auf die Veröffentlichung auf meiner Webseite vertrösten. Es handelt sich dabei auch nicht um etwas, was für die Ã-ffentlichkeit geschrieben wurde sondern um ein internes Arbeitspapier. In meiner, nicht maßgeblichen, Meinung ist es aber auch für die Ã-ffentlichkeit sehr wohl geeignet.
Dafür werde ich aber hier, falls es keine Einwände gibt, Teile meiner in kurzen Beiträgen in holprigen Englisch geschriebenen Erläuterungen bringen. Es sind teilweise auch Erklärungen, wie Terra und alternatives Freigeld einander unterstützen könnten und welche klarstellen, daß Bernard Lietaer nicht der Beelzebub ist, der eine Weltwährung im Auftrage des „großen Bruders“ einführen will.:-)
Hier ist Nr.1

<font size=4>Terra, the money of the future.</font>

TERRA, in short, is the name for the proposed worldwide reference currency
by the private sector. The public sector does not seem to be able to provide a
stable currency and this makes a lot of commerce especially with countries
outside the ones with relatively stable currencies like the USA and some
European countries nearly impossible.

So far the world wide trading companies have developed some strategies like
hedging or barter trading but especially the hedging is backfiring now and most
of the currency movements in the world became solely speculative and
destructive to some weaker countries.

It makes no sense destroying weaker countries and thereby losing them as
customers only because the public sector can provide no stable currency and
there seems to be no way out. The companies cannot concentrate on their legit
work, to provide goods and services and employment to the public at a
reasonable cost to stay profitable.

They have to hedge and gamble to stay afloat. When they go to countries with
cheap labor it is a futile exercise in the big picture.

Now they have cheaper goods but their labor force who should buy them is
unemployed.

The international political climate for another Bretton Woods does not look too
good and even if it would be, there is no reason to repeat the mistakes of the
past. Bretton Woods did not provide a stable currency. All it did, was providing
some framework for stable exchange rates and even that did not always work
out and the"stable" Dollar lost 9/10 of its value since then, most of it long
before they abandoned the gold standard, not to speak of most other currencies.

We see now a world wide monetary crisis which has ruined all but a few
countries and their currencies and there is no end in sight. It is not necessary to
name them all to add insult to injury. Just take the whole world and do not even
except the USA. Their trade deficit and the destruction of their industrial and
agricultural infra structure is a burning fuse which might blow up the system any
time.

We will also not go into the fact, that the blame for that might be put at the
doorstep of Bretton Woods. No sense crying over spilled milk.

The powerful financial players of the world are running out of time.

There are no governments left with enough money which they can blackmail in
case of a need to provide relief for losses. Hedging and gambling always has not
only winners but also losers and the next big looser might tear the whole system
down. Once people all over the world, who now hold the"stable" Dollar
including their National Banks, will realize that it buys nothing, when only a few
more people than usual want to collect and use their money to buy some real
goods.

This is not seeing everything black and who does not see that even Japan and
the so called tiger states including all African and South American States, not to
talk about the former Eastern block, are already economic basket cases has
selective blindness.

But what about Terra? What can it do? How can it help? Why will it stabilize
the economy? What can it do about the business cycles which now seem to
head for a depression?

Yes, what about Terra? It is a stable currency issued by an Alliance of a few
internationally trading companies as a pilot experiment in the beginning, backed
by stockpiles of globally traded goods using a standard basket, which more or
less is a mirror of commonly traded goods and their value. This value gives at
the same time the deposit claims issued for it, named Terra, their value. It is
similar to a gold standard only the value is not tied to a single good, like gold,
but to a larger basket which nobody can corner and make into an object of
speculation. Terra is therefore stable and speculation proof. The larger the
basket and the more different goods which are in it the more Terra is stable.
Nobody can disrupt this stability by causing changes in the price of a single
good within this basket. This is the main difference between Terra and a gold
standard where the price of a single good is used.

We will here not go into technical details how this will be done and which
exactness of value will be optimal. It is enough that Terra will be more stable
than any currency ever on this world. A few percentage points up or down
within a year is all that could happen, if too small a basket is used. This is a big
improvement over currencies which sometimes loose all value or often enough
5 to 50% in a year and once started there is always room for improvement to
make it even better.

In the beginning, Terra will only be a pilot experiment which will have no great
impact and will only extend the time frame of what is done internationally now
anyway - barter. Any faults that might show up, could be corrected easily. But
Terra would be stable. Not with a stable exchange rate against other currencies,
which are not stable but stable as to its purchasing value. It will be the exact
value of the goods used for its backing. As if that would not be benefit enough
there are some more.

We will at first list the benefits for the corporations who will issue Terra. They
should know them, because, after all, they are the ones, who should issue it.

Terra brings benefits:

1) Because it makes available a standard of value which makes trades possible
which before could have only done by barter, not at all, or only with prohibitive
costs for hedging. Especially trades with longer time frames would only become
possible then. And, of course, the costs of barter will be eliminated. These
counter trades are often costly.

2) It would make problems of currency instability a thing of the past by simply
using terra as currency of trade.

3)It would make it possible for them to change illiquid assets like slow moving
stock into a liquid one (Terra). This alone is a benefit, which should not be
underestimated.

4)It would provide liquid capital at a much lower cost.(The reason for that, we
will explain later when we cover the costs of terra).

5) Through its contra cyclical effects Terra will provide a beneficial business
climate with steady employment and a steady market for sales.

6) Because of its anticyclical effects it will on the other hand cool a forced
expansion of business caused by the demands of finance and will therefore help
the ecology. This might not be a benefit for the corporations right away, but it
wont hurt them either. After all, the people in the corporations have to live
somewhere too and it is much nicer to live in an unspoiled environment.


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gesamter Thread:

• Re: @Oldy: weitere Fragen zu Freigeld - Diogenes, 29.09.2000, 21:25
  • Re: @Oldy: weitere Fragen zu Freigeld - Kleinanleger, 29.09.2000, 22:19
    • Oldy an Kleinanleger - Oldy, 30.09.2000, 00:14
  • Re: @Oldy: weitere Fragen zu Freigeld - Oldy, 29.09.2000, 23:41
    • Re: @Oldy: weitere Fragen zu Freigeld - Diogenes, 01.10.2000, 14:48
      • Re: @Oldy: weitere Fragen zu Freigeld - Oldy, 02.10.2000, 03:12
        • Oldystunde auf Englisch - Oldy, 02.10.2000, 05:08
        • Re: @Oldy: weitere Fragen zu Freigeld - Diogenes, 02.10.2000, 21:48
          • Re: @Oldy: weitere Fragen zu Freigeld - Oldy, 03.10.2000, 02:03
            • Letzte englische Oldystunde! - Oldy, 03.10.2000, 05:07
              • Re: Letzte englische Oldystunde! - Diogenes, 03.10.2000, 21:28
                • Re: Letzte englische Oldystunde! - dottore, 03.10.2000, 21:40
                  • Re: Letzte englische Oldystunde! - Oldy, 04.10.2000, 00:46
                    • Re: Letzte englische Oldystunde! - Diogenes, 04.10.2000, 23:01
                      • Re: Letzte englische Oldystunde! - Oldy, 05.10.2000, 03:52
                        • Re: Letzte englische Oldystunde! - Diogenes, 05.10.2000, 21:44
                          • Re: Letzte englische Oldystunde! - Oldy, 05.10.2000, 22:56
                          • Re: Letzte englische Oldystunde!(Jetzt richtig) - Oldy, 05.10.2000, 23:01
                            • Re: Letzte englische Oldystunde!(Jetzt richtig) - Diogenes, 07.10.2000, 21:53
                              • Re: Letzte englische Oldystunde! Dank ins schneebedeckte Fass! - dottore, 07.10.2000, 22:38
                              • Re: Letzte englische Oldystunde!(Jetzt richtig) - Oldy, 09.10.2000, 04:12
                                • Re: Letzte englische Oldystunde!(Jetzt richtig) Müdes Lächeln entspannt auch - dottore, 09.10.2000, 10:38
                                • Re: Letzte englische Oldystunde!(Jetzt richtig) - Diogenes, 09.10.2000, 20:57
                                  • Re: Letzte englische Oldystunde!(für Diogenes) - Oldy, 09.10.2000, 21:33
            • Re: @Oldy: weitere Fragen zu Freigeld - Diogenes, 03.10.2000, 14:45
              • Re: @Oldy: weitere Fragen zu Freigeld - Oldy, 04.10.2000, 00:22