Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Jerome, can you not see that a deficit-based monetary system is simply unsustainable? Money has no "cost" except when it is created as a debt.

 it's time to make bankers personally liable for the deals they get their banks into and that go wrong whether financially, legally, or at the very least reputationally;

Banks as credit intermediaries are obsolete, and will be replaced by banks as service providers:

(a) managing bilateral creation of "trade" credit, backed by a mutually owned guarantee/default fund;

(b) bringing together investors in productive assets with investment in productive assets, using more efficient legal vehicles than the current nonsense.

it's high time to restore punitive marginal rates of taxation, to dissuade short termist wealh capture and profiteering

No. It's time to tax privileges such as private property in Commons such as land and therefore to redistribute Capital and unearned income.

 it's high time to create a separate funding mechanism for the military, based exclusively on fuel taxation

It's certainly time for massive fuel taxation, to be deployed in the fight for alternative energy and the fight for clean water.

Redeployment of massive military R & D budgets to such a fight would be fine with the corporations provided they thought they could make a profit out of it.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Wed Aug 22nd, 2007 at 04:38:45 AM EST

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