“The art of a warrior is to balance the terror of being a man with the wonder of being a man.”
Carlos Castaneda

Journey to Ixtlan

Bernard Lietaer on Greece: Two Currencies?

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Bernard Lietaer is in a position to offer a refreshing perspective because he is both a mainstream economist who was involved in the creation of the Euro and a thought leader in the world of alternative currencies. In this interview you will hear him bring up interesting points:

  1. That the original design of the Euro did not include a change in the relationships between central banks and governments … that was a last minute addition (I wonder what political machinations brought that development about).
  2. There are examples of countries operating with two currencies. One example is Switzerland with its national currency and an 80 year old business-to-business currency called the WIR. The other example is the UK where businesses can manage their books in both pounds and euros.
  3. Iceland took another approach to the economic crisis: it allowed banks to go under, put bankers in jail and is now operating a government controlled currency (instead of a bank-debt-based currency).
  4. The ubiquity of mobile phones means that a door is open for new alternative currencies based on information technology.

Almost every answer he gives challenges the mainstream conversation and introduces outside-the-box thinking:

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