AmpedStatus Report )))#OccupyWallStreet to Create a New Currency – This Is What Revolution Looks Like!October 10th, 2011    From last night’s GA meeting: “Work began today on a proposal trying to implement a currency for this movement. The Wall Street banks and their best customers, the multinational corporations control the source and flow of $$$$. This is an open invitation for you to join us in this process! We will be meeting at 11am every day, every week, until we’re done, at the red cube in the Southeast corner of Liberty Park.”
The plot thickens, as they say. This is getting interesting.
10 comments:
Hmmmm....
It will be interesting too see what they come up with.
this is exactly where an MMT "specialist" needs to be!!!!! I'm in LA not NYC!!!
Tom, where are the MMTers now with their UMKC simple currency Buckaroo model? Are they only theorizing to show how smart they are?
I think I would prefer an approach that focused more on asserting greater democratic control over the existing currency and credit, and aimed at a closer integration of fiscal and monetary operations, so that monetary operations better fulfill public purposes.
" The Wall Street banks and their best customers, the multinational corporations control the source and flow of $$$$." = Hopelessly out of paradigm.
The idea of a "new" currency is not a good idea. This sounds like it is coming from the Ron Paul/Alex Jones wing.... hope it fades away... Resp,
Propose head tax, to be paid by everyone living in the park, collected every morning. The tax would be paid in the new currency. The GA would offer a job to anyone who wanted one, whther they were living in the park or not, paid in the new currency.
Could be educational...
This will be an excellent learning experience that will force the people working on it to explore what money is, how it is created, how it gets value, and how a monetary system works.
I would not be surprised of some pretty interesting thinking comes out of this. I suspect there are some pretty sharp folks that are participating. Moreover, it is an opportunity to approach them with MMT.
@ money4
The last thing I saw on it was this post at Warren's place.
The UMKC Buckaroo- A Currency Model for World Prosperity
@ Jim Baird
I like it. But I would call it something like "dues" rather than a tax.
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