The mutual credit systems recover bank functions on behalf export trading company of the local comm

The mutual credit systems recover bank functions on behalf export trading company of the local community, export trading company the business community export trading company or the cooperative entity. Promote and protect the internal economy of their members, isolating it from external shocks and economic threats export trading company in the same way they do the local currencies. Indeed, local currencies will never be able to escape from their marginalization unless you have a credit mechanism that protects them from speculative attacks from which suffered many national currencies in the last twenty years. Local and regional credit clearing organizations can implement capital control functions similar to those imposed by some Member wiser when they developed their economies through the substitution of imports. The most famous export trading company mutual credit system, WIR, Switzerland, is a rather extreme model of this principle: export trading company once you enter into the system may not be disbursed money. Locally, this would cause foreign investors to source materials locally. Less extreme measures but similar logic applied in Taiwan, Japan, Singapore export trading company and South Korea in the 1950s and 1960s, when it forbade the repatriation of profits of foreign companies.
One of the "imports" that local and regional governments can replace the credit itself. The aforementioned Asian countries did this by keeping the banking sector forbidden to foreign banks through government policy and informal cultural barriers. At a regional or local level, even without export trading company a local currency, export trading company governments can replace exogenous credit operating their own public banks. (15) If you have to pay for the credit, you should at least this payment to stay in local economy? Today, export trading company state and local governments submit receipts from taxes on multinational banks that lend anywhere will bring the most profit; indeed, in an era of bank mergers do not have many options as local banks have merged with other larger . State-owned banks, such as Bank of North Dakota, can lend money locally to fund local projects without having export trading company to resort export trading company to debt with high interest in the bond market, engage in counter-cyclical effect lending money during the credit crisis and to keep bank profits in their place rather than export them on Wall Street. Public banks need not be motivated by profit, export trading company but any profits derived, can be returned to their owners who are the people, thereby restoring credit in common. These advantages relate to the present money system.
At state level, the operation export trading company of public banks a little different from the power of the money issue, one power, the United States (and most countries of the world) have renounced and gave a private organization, export trading company the Federal Reserve. But theoretically, they could start their own bank and to lend money to themselves, essentially export trading company printing money with zero or negative rate. Or they could bypass the banking export trading company system and create money directly, as defined by the Constitution and implemented in the Civil War. (16) The currency proposals described in Chapter 11 would allow governments export trading company to do the same, issuing money "guaranteed "the commons of Bioregions under their management. Finally, the division into administrative regions may fit better with the biological and cultural regions. Regional governments will have more autonomy export trading company than they have today when get power to issue their own currency.
The decision on how to allocate the capital on a large scale is more than a financial decision; it is a social and political decision. Even in today's capitalist society, the largest investment decisions are not always made with regard to corporate profits. (17) The mission of man on the moon, the construction of a motorway and the maintenance of armed forces is all public investments not seeking export trading company a positive return capital. However, the private sector, the profit of banks determines the allocation of capital, ie the division of human labor, creativity and wealth of the earth. What should we do, mankind on earth? This collective choice is a common good that has been privatized and must be restored to all of us in a sacred economy. This does not mean to remove the investment decisions of the private sector, but to change