Bernard Lietaer: Why This Crisis?

Bernard Lietaer is the person whose post-graduate thesis at MIT back in 1971 formed the basis of the modern floating currency system. He is the author of the book The Future of Money (out of print) which detailed the potential problems of the system we have in place right now way back in 2001. His understanding of money puts him in the forefront to provide a potential solution to our current ongoing worldwide financial crisis.

Notice the structural financing problem of the small and medium-sized companies explained in the video. This is the main reason the middle class of United States and all around the world being crushed.

Since the structural issues will never be taken care of, the current financial system will not be able to recover. What happened in several countries over the past few years can and will happen to the other countries when their citizens are cornered. Not a nice scene to picture.

But I am not sure if the governments around the world are willing to compromise and start accepting complementary currencies before it is too late. After all, once the compromise has started, the power of the governments and big financial institutions will diminish. Based on our current experience, even if the necessary changes finally take place, it is likely to be too little too late.


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