He told us about how our modern 'Immaterial finance' doesn’t require workers.
money is immaterial, not based on anything [fiat currency, much like the cars].
Your pension, is also an illusion. You surrender your pension deduction
and it disappears down at the stockmarket. You're left with a lousy IOU.
an OPTICAL ILLUSION:
It's debt-based currency because you get this piece of paper that says "20 pounds"
and then you hope someone else will give you something in exchange for it. One day, though, it'll fall so much in value that you will lose money every day you hang onto that piece of paper.
It's all derivative.
This system depends on circulation of money, not hoarding.
He warned that there will soon be hoarding by the rich, and so the system will collapse.
From "the Story of Economics", 16 March on BBC Radio 4:
Aristotle said:
Trading one product for another is ok.
Selling something for money is unnatural.
Also on the show:
How people should create trust. Follow the Bonobo monkeys:
They have sex before conducting any business. That should increase the number of women, young women, on boards of directors.
[and you thought only humans screwed one another for social AND selfish reasons]