“THE GOLDEN VEIL OF     GLOBALIZATION”         Submitted to:Kurukshetra University,Kurukshetra              by        Pall...
Acknowledgement                                 “You are therefore I am”    It brings pleasure to me remembering all the p...
INDEXChapters                                                                                                             ...
Why the “The Golden veil of Globalization                         -the seen and the hidden”?               Four words- WAN...
If today is a typical day on earth we will lose 116 square miles of our rainforest orabout an acre a second.we will lose a...
was ugly huh!, shockingly true, these are only some of the realities that we arebeing faced today in 21st century.        ...
Seeing smiling advertisements faces numbs all the questions and we areconvinced that, yes world is going to be a better pa...
If you are one of those NO BIG DEAL guys then this piece of paper is justanother waste of your precious time.But, if you w...
What is the GLOBALIZATION?A global – business- economic perspectiveIf we look at this phenomena from Charles.W.L.Hill (Hug...
So, the first need of globalization wasgrowing peoples demands for more products on cheap ratesand governemnts had to deve...
What is Globalisation?Daily life perspectiveIn this global economy, an American might drive to work in a car designed in G...
She may turn on the car radio, which was made in Malaysia by a Japanese firm, to hear apopular hip-hop song composed by a ...
hmm, I got the basics of whole game of globalization -  ✔ Our needs are satisfied by governments through businesses who ag...
Whats wrong?                           Isnt that good? You were going to say something about the                          ...
Before I explain the glitch at each level, I want to ask you when will you deny the existenceand credibility of this syste...
GLOBALISED US                            The seenA 21st century kid, adored with funky outfit- looks cool ! :)
Globalised US                                  The hidden X-RayThis is the X Ray of 21st century Guy- who is everywhere-Gl...
You want to know how it comes to be like this?Whats on its mind?- Holy-factory-education systemwithSeetha Ananthasivan who...
Whats on its mind?Who would deny that our thoughts are our actions, the most responsible thing for todaysactions is educat...
These are a few of the meta frame works for our living today there must be more and theyhave their “inner” and “outer” eco...
Means are not as important as ends-Parents and teachers encourage rote learning and tutions as the means to score high mar...
cause even if a few try to see the larger picture, most of us have forgotten to respond to reallife- issues all around us....
Whats its Face?He is the one who is the target from both sides, he is the consumer, he is the employee too.Consumer-He is ...
Employee-He is the one ,who is told by his education to abide by therules of Game, dont question- work harder ,earn more m...
I want to ask you-how can it is possible to even move towards solutions without knowing that problem is us?-our own Face!H...
but why I need to know about Banks ,Stock markets and Foreign exchange ,Natural andHuman Resources– blah, blah.. ?Because ...
Whats its body? -Economical needsQ-What is Money?Q-What is Money, Governments and banks?Q-What is the relation between mon...
Money is simply another name for the most generally accepted medium of exchange.                                          ...
What is Money-(gold) & Banks?                                        The Gold standard ?                                  ...
Isnt it fraud with peoples gold and illegal?This is a fraudulent system, its not allowed in any other business. If you had...
How do they regulate these different banks? What are there powers?First power of FED- They continued with the power of pri...
That all sounds so regulated, everything seems to be fine till now, they are creating money,regulating it to banks and the...
From Power to Disaster 2- Interest ratesIt handles the interest rates of those banks by whom people take loans and credit ...
Thats the discussion on another topic-Why US dollar is so important? Can USDollar collapse?”For understanding this, we nee...
from this statement we can derive that how bubble created by printing backless money whengoes on as Cheap Credit from bank...
And what was the way to earn that only currency?Two ways are there-Either EXPORT your goods to US or simply BORROW U.S. DO...
How is it possible?Did it ever collapsed? Whathappened when it collapsed?In 1930- the era of GREAT DEPRESSION,dollar colla...
So the after effect of it was-   ✗   People lost all the value of their investments, savings ,stocks that were in US dolla...
Then why dont they scarp it? Are US people benefitted by this system?They might thought so, when they implemented this US ...
There was no demand of goods, causing no demand of US dollar in open market, whichwould mean the collapse of US dollar and...
but soon after hitting the news that government is in great debt (debt means no backedcurreny or gold is there with the go...
Money thus produced out of faith is used for Quantitaive easing,what is it?Quantitative" refers to the fact that a specifi...
But Alas !, it is a bubble with money produced out of thin air there is only a PROMISE ofeconomy as a profitable one-Faith...
how much of the money are they printing now?600 billion dollars.so even though the first 2 trillion did not create the job...
we cant scrap this system-2) what is happening in those big buildings?So how in the world did things get to the point wher...
somewhere or the U.S. government is going to have to borrow increasingly large piles ofmoney from someone.Unfortunately, t...
Did you know that while Exxon-Mobil did pay $15 billion in taxes in                         2009, not a single penny went ...
But the Federal Reserve seems absolutely determined to print more money. Fed officials aredoing the same thing now that th...
If the rest of the world cuts back on buying U.S. Treasuries, the Federal Reserve is going tofind itself with a gigantic m...
Jane Darista quotes- People dont know that the US dollar they hold can also lose its valueand not even governments, they b...
So is everyone printing money?The U.S. is printing lots of money.....Source, The St. Louis FedThe Bank of England is print...
The EU is printing lots of money....Source: The ECBJapan is printing lots of money.....Source: The BoJ
China is printing lots of money.....Source: The People’s Bank of ChinaIndia is printing lots of money.....Source: Reserve ...
Of course anyone with half a brain can see where all of this is ultimately headed. In the end,inflation is going to spiral...
Sadly, the truth is that the global elite dont want nations to start adopting gold-backedcurrencies. They want countries t...
In the News-High Debt and Fiscal Austerity in Britain-                                                          Currently,...
Now,imagine,where the people are standing in such a Businessenvironment? We never know what is happening out there in thos...
Whats its body?-Environmental needsBusinesses dont create products out of air, they need raw materrialfor their production...
From this -To This !!-
Annie leonardo has made a applaudable attempt to dig deeper in ourconsumption lifestyle- what she says in her own words is...
so, what is the story of stuff?what the text books said isthat our stuff simply moves along these stages: extraction to pr...
It’s the government’s job is to watch out for us, to take care of us. That’s their job.Then along came the corporation. No...
We are cutting and mining and hauling and trashing the place so fast that we’re underminingthe planet’s very ability for p...
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
The Golden Veil Of Globalization- The Seen And The Hidden
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The Golden Veil Of Globalization- The Seen And The Hidden

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we all suck from inflation,recession,greedy companies and "not always healthy" products. but do we always understand their integration?
the big picture? which connects all of them.. it is 21st century- Globalization.
explore how much do we get to SEE and how many things are HIDDEN?

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The Golden Veil Of Globalization- The Seen And The Hidden

  1. 1. “THE GOLDEN VEIL OF GLOBALIZATION” Submitted to:Kurukshetra University,Kurukshetra by Pallavi Chauhan
  2. 2. Acknowledgement “You are therefore I am” It brings pleasure to me remembering all the people who contributed towardspreperation of this project ,directly or indirectly.I would try to list all of them one by one because they deserve a heartfelt appreciation for their contribution. First of all, I am highly grateful to my parents and my brother who provided me the much needed courage,moral support and stood by me with their fruitful blessings. I express a genuine thanks to all my teachers who by their gracious presence helped me clearing my doubts and believed in me and my project thats why I owe a specialthanks to Miss Aditi (Business environment), Mr. Yogesh Goel(Accounts), Mr.P.K.Seth( Financial management), Mrs. Sonia Chadha( Marketing/Project instructor), Miss Seema Pandey( Income Tax), Miss Neeru Singla (Sales Force Management) and my sincere thanks to Dr. Desh Bandhu (Principal, S.D.College) who provided me the opportunity of this one month training as well as preperation of project report. It would be my ignorance if I dont mention the special support, I received from the teachers of our liabrary department. When all the teachers mentioned above were focusing on their respective subjects of study, our library teachers, welcomingeveryone to explore more than 50000 books on diverse backgrounds, played the role of Silent Teacher. I would like to thank all the teachers of library department for providing me the mental freedom which is the crucial of all, Mr. Balesh, Mr. Jagdish,Mrs. Rita, Mr. Angrez Singh, Mr. Ramesh Chandra, Mr Harinder Pal, Dr. T.C. Mittal, Mr.Kulbeer, Mr. Raj kumar Batra, truly no one can neglect their Passion and Dedication at work. Also, my special thanks is deserved by my dear friends, who might be called the soleinspiration for me to work on the project like this. There words of encouragement were the lubricant for my dedicated efforts.And last but the Most Important Thanks to My best friend- GOD without whom I could have never ever reached to all the resources mentioned above.
  3. 3. INDEXChapters Page no.Chapter 1- Why?- “The Golden Veil Of Globalization-The Seen And Hidden”.............. 4-8Chapter 2- What is Globalization ?................................................................................9-15Chapter-3- Globalised US- The 21st century Guy..........................................................16-17-18Chapter-4 The 21st century guy- whats on its mind?.....................................................19-22Chapter-5 Whats its face?..............................................................................................23-26Chapter-6 Whats its Body?- Economical Needs.............................................................27-57Chapter-7 Whats its body?-Environmental needs...........................................................58-75Chapter-8 Globalization and Third world.........................................................................76-88Chapter-9 Another Way....................................................................................................89-99Bibliograpy...........................................................................................................................100
  4. 4. Why the “The Golden veil of Globalization -the seen and the hidden”? Four words- WANTED to KNOW ,INSTEAD of BELIEVING.Have you ever felt that there are so many things that we believe in but actuallyknow nothing about and if you look around, it includes a wide range of beliefs Belief in Ideologies/cultural values Belief in Governments Belief in economy Belief in education Belief in Products we use/lifestyle But there is a fundamental difference between BELIEVINGand KNOWING . When you know something you dont have to believe on it but ifyou know nothing about something, you have got no option but to believe on it.We do it daily in our next governemnts,advertisements,education andbusinesses. So there is no Believe Me- ThisProduct Is Good For You kind of thing going onhere. Rather it would be interesting to Question.!You would say its not always that we believe in thestuff, we do ask for quality checks, investigationreports.. we control it, we are modern citizens. But Iam here saying right onto your face that we dont,yes, we dont question because if we had beenquestioning then this should have never happened-
  5. 5. If today is a typical day on earth we will lose 116 square miles of our rainforest orabout an acre a second.we will lose another 72 square miles to encroaching deserts, asa result of human mismanagement and overpopulation.We will lose 40 to 100 species, and no one knows whether the number will be 40 or100. today the human population will increase by 250,000. and today we will add 2700tons of clorofluorocarbon to the atmosphere and 15 million tons of carbon. Tonight theearth will be a little hotter, its waters more acidic, and the fabric of Life morethreadbare.The truth is that many things on which our future health and prosperity depend are indire jeopardy:Climate stability, the resilience and productivity of natural systems, thebeauty of the natural world,and biological diversity.It is worth noting that this is not the work of ignorant people . It is , rather, largely theresult of work by people with BAs ,BSCs, LLBs, MBAs and PHDs.Elie wiesel made a similar point to the global forum last winter when he said that thedesigners and perpetrators of the holocaust were the heirs of Kant & Goethe.in mostrespects the Germans were the best educated people on earth, but their education didnot serve as an adequate barrier to barabarity. What was wrong with their values,concepts rather than human beings, abstarction rather than conciousness, answersinstead of questions, ideology and effeciency rather than conscience. -DavidOrr From “What Is EducationFor?” (winter 1991)
  6. 6. was ugly huh!, shockingly true, these are only some of the realities that we arebeing faced today in 21st century. But have you wondered what makes us to not to question-IGNORANCE !And we have our own excuses to numb our dragons, the best one is -“we havegot no time” I have got to study to get marks or got to go on the job for earning more money. I have casted my vote and now its governments job to make policies for me And my family.And thus its acceptable for us to neglect our responsibilities.Yet questions similar to these keeps on gripping our minds- What do Barack Obama, Nicolas Sarkozy,Hu Zintao,Manmohan Singh really do in those Multilateral Treaties? Why they are unable to create sufficient jobs and income for everyone around the world? What is this INFLATION and RECESSION? How does it happen that when a stock market crash, I lose my job,food ,oil, health care and how come products prices go high due to inflation? Is there any way that I can investigate the manufacturing process of Products I use ,daily. Come on ! Advertisements dont show us how they are made and dumped?
  7. 7. Seeing smiling advertisements faces numbs all the questions and we areconvinced that, yes world is going to be a better palce if we continue with ourpresent education , jobs and beliefs.Mathew Taylor of RSA.org, who is one of the modernminds of our century explores the fundamentals of ourbehaviour in society that dates back in history whenfoundation of our perceptions and knowledge ofspheres like Human Atonomy, Reason,Enlightenment, Progress, Secularism And TheCentrality Of Politics- were laid upon. It was the mindsof scholars of that time who gave our society -TheThree Logics. Science and technology- what is discovered is to be discovered. Markets- what is sold is to be sold. Bureaucracy -Rules.. Rules and New Rules..!We forget to explore ✗ what these values are and what they mean to us? ✗ Do they still work for us? ✗ Whether they meet the challenges we face now?So, we are not yet in the state of denying our modern culture, ideologies- ourrigid structure based upon science and technologies, global markets and ourbureaucracy. We still think that Science and technology- has discovered a whole lot of meaningful things for man like machines, gadgets what has turned our whole planet into a global village and made the work very easy for everyone and if we would be having any collapse , then the same scientist will find another way out and save the planet..! - NO BIG DEAL Markets-There are periods of Bull and Bear (recession and boom), its a cycle and as long as we are having our basic amenities satisfied through bunch of multinationals production. Then there is no problem with that too.. ! - NO BIG DEAL Bureaucracy- Curroption is everywhere, there is no hope for next Mahatma Gandhi. Solution – be like them- curropted. - NO BIG DEAL
  8. 8. If you are one of those NO BIG DEAL guys then this piece of paper is justanother waste of your precious time.But, if you want to know rather than believing then come along with me andQUESTION and try to answer them with the help of some of the most advancedminds and concerned souls of our time wholl help us to look at the flipside ofthe golden veil . I have tried to present the whole complicated jargon in such away that it becomes possible from a common mans perspective to look at theBig Hidden Picture !So, allow me to take you on a journey... journey to know the town we live in. “THE GLOBALIZATION”
  9. 9. What is the GLOBALIZATION?A global – business- economic perspectiveIf we look at this phenomena from Charles.W.L.Hill (Hughes M. Blake Professor ofInternational Business at the school of Business, University of Washington) then Its a fundamental shift occuring in the world economy. We are moving rapidly away from a world in which national economies were relatively self-contained entities,isolated from each other by barriers of cross-border trade and investment; by distance time-zones, and business systems. And we are moving toward a world in which barriers to cross border trade and investments are tumbling; perceived distance is shrinking due to advances in transportation and telecommunications technology; material culture is starting to look similar the world over; and national economies are merging into an inter-dependent global economic system. The process by which it is occuring is commonly reffered as theglobalization.so its that big and making us interdependent on each other? But why there is any need ofglobalization ? Cant we remain self-sustained and isolated entities with our own culture?Yes, we could and we had been also, till the fall of communism(authority from top to thebottom) in the 1930s. It fuelled the world with unemployment and growing demands so therewas a need of integration at that time and for fulfilling this need different nationsgovernments policies swang toward a free market end of economic spectrum. Regulatoryand administrative barriers for doing business in foreign nations had come down, increasingcompitition and facilitating foreign investments. People were free to conduct their domesticbusinesses in other countries and expanded globally.
  10. 10. So, the first need of globalization wasgrowing peoples demands for more products on cheap ratesand governemnts had to develop a system through which they could facilitate suchtransactions , so they invented international monetary system (for establishing values ofdifferent nations currencies) ,foreign exchange market (where they conducted thereinternational trade transactions) and association bodies like IMF- international monetary fundand World Bank, first one to maintain order in international monetary system and the secondone to promote general economic development.Individual businesses bacame international businesses using this system and sinceeverything was getting Globalized so there was a need to develop a work force who will runthe system and upkeep it which laid the foundation of our factory education system. Peoplewere given choices to choose a particular field from a range of spheres of this system- Science and technology Business operations Humanities Religion etc.Studying in that system would enable them in entering into this Global system, where theycould earn their salary in money and could get the things they wanted to have and thus theirdemands were fulfilled. Its the people who created a need for it by demanding more and more products andservices with less possible effort on their part.!But the words Global, Economic system may be confusing.Thats what I thought about those textbooks definitions,well we will explain each technicalpart of this picture, later in this presentation, in an easy and interesting way.But before that it would be nice to see how we are immersed into globalization, in our dailylives?
  11. 11. What is Globalisation?Daily life perspectiveIn this global economy, an American might drive to work in a car designed in Germany thatwas assembled in Mexico by DaimlerChrysler from components made in the United Satesand Japan that were fabricated in Korean steel and Malaysian Rubber.She may have filled the car with Gasoline at a service station owned by a British multinationalcompany that changed its name from British Petroleum to BP to hide its national origins. TheGasoline could have been made from oil pumped out of well off the coast of Africa by aFrench oil company that it transported it to the United states in a ship owned by a Greekshipping line.While driving to work, the American might talk to her stockbroker on a Nokia cell phone thatwas designed in Finland and assembled in Texas using chip sets produced in Taiwan thatwere designed by Indian engineers working at a firm in San diego,California,calledQualcomm. She could tell the stockbroker to purchase shares in Duetsche Telekom, aGerman telecommunications firm transformed from a former state-owned monopoly into aglobal company by an energetic Israeli CEO.
  12. 12. She may turn on the car radio, which was made in Malaysia by a Japanese firm, to hear apopular hip-hop song composed by a Swede and sung by a group of Danes in English whosigned a record contract with a French music company to promote their record in America.The driver might pull into a drive-through coffee stall run by a Korean immigrant and order“single-tall-non-fat latte” and choclate-covered biscotti. The coffee beans come from Braziland the choclate from Peru, while the biscotti was made locally using an old Italian recipe.After the song ends, a news announcer might inform the American listener that anti-globalization protests at a meeting of heads of statein Geanoa,Italy, have turned violent.theannouncer then turns to the next item, a story about how an economic slowdown in Americahas sent Japans Nikkei stock market index to 16-year lows.This is the world we live in. It is a world where the volume of goods and services,andinvestments crossing national borders has expanded faster than world output every year forthe past two decades.it is a world where the symbols of material and polular culture areincreasingly global: from Coca-Cola and McDonalds to Sony PlayStations,Nokia cell phones,MTV shows, and Disney films. It is a world where products are made from inputs that comefrom all over the world. It is a world in which an economic crisis in Asia can cause a recessionin the united states, and a slowdown in the United States really did help drive Japans Nikkeiindex in 2001 to lows not seen since 1985. it is alos a world in which a vigorous and vocalminority is protesting against globalization,which they blame for a list of ills, fromunemployment in developed nations to environmental degradation and the Americanization ofpopular culture. And yes these protests have really turned voilent.From the above example you can relate yourself with the globalization in the form of productsand services you receive from it directly and indirectly.So, if you have a relation with this system then it is imperative that it must beeffecting/affecting you also,thats the answer of your second question that you are connectedwith globalization clearly on every level ,for every product and service ,for all your needs.
  13. 13. hmm, I got the basics of whole game of globalization - ✔ Our needs are satisfied by governments through businesses who again produces products not only in their country but with the help of raw materials and services around the globe- globalised products- Globalization.Through this game of globalization,there is an easy availability of goods and services, worldwide for ALL who participate in it, I get McAloo tikki at 25 Rs. Only,MTV in rural areas, Sonyplaystation ,Levis jeans next to Khadi store, all my basic food items – ALL SO EASILY and ATCHEAP RATES !
  14. 14. Whats wrong? Isnt that good? You were going to say something about the “glitch” part in it, whats wrong with this system? This is all what seems, the seen part of Globalization, what we see in advertisements, governments “development” programs. We believe in its credibility and we enter into this system through our education, we set up businesses or opt for some job,we use the economic system- brought to us by our governments, via different policies about just use of human and natural resource.thus we are dependent on three things hereEducation, then Businesses and lastly governments.
  15. 15. Before I explain the glitch at each level, I want to ask you when will you deny the existenceand credibility of this system at educational => businesses=>governemnetal level ?Tell me, when will you say that “It Is No More Working”?let me think-About Education - when our studies are not useful for us in real time then - It Is No MoreWorking.About Businesses- if they are no more providing the solutions we need ,doesnt support R&Dand fulfill only their profit objectives, then, - It Is No More Working.And Governments- are not providing equal and just lifestyle to each and every group thatparticipate in globalization, then for me - It Is No More Working.To sum it all up-- ✔ Our Education system- why it is not useful in our real life? Causing huge amount of unemployed graduates? ✔ Our Businesses-Apart from providing goods and services , whats wrong with their inside and outside workings? Causing Recesion and Inflation over and over again? ✔ Our Governemnts- Whats wrong with their objectives? How do they implement their wills? ✔ By all of above how I am affecting the Mother nature? Whats my environmental responsibility? And lastly, Whats Hidden in Globalization?
  16. 16. GLOBALISED US The seenA 21st century kid, adored with funky outfit- looks cool ! :)
  17. 17. Globalised US The hidden X-RayThis is the X Ray of 21st century Guy- who is everywhere-Globalised,lets know somethingabout him,He has got his Pinky lifestyle on top of his mind, what he affords from jobs and products-which are brought to him by businesses. He has been made blinded by this daily lifestyle !The face of jobs -product-business lifestyle has its veins to money -its heart, facilitated bygreedy banks,(which has made him Fat) and are supported (belt) by ever changingGOVERNMENTS and weak arms Stock Markets and Foreign Exchange Market .It has got weak legs (foundation) but Strong shoes what he uses to Crush our NATURALAND HUMAN RESOURCE.Does it look cool? Chaos to the 21st century Guy..!
  18. 18. You want to know how it comes to be like this?Whats on its mind?- Holy-factory-education systemwithSeetha Ananthasivan who is thedirector of Prakriya Green WisdomSchool and Bhoomi Network,Editorof “Eternal Bhoomi” Magazine.Whats its face?-Consumer-EmployeeThe educated product from schools enters into job and businesses,it produce as wellas consume the products,is that all?Whats its body?-Businesses and governmentsAfter moving from the educated employee and consumer, let us explore more about howbusinesses and governments work?in this part, Economical needs are exposed by Jane DArista who is a research associate with the Political Economy Research Institute (PERI), University of Massachusetts, Amherst.For more than thirty years, Jane DArista has been one of the most insightful analysts of financial markets and regulation.And Environmental needs are exposed by Annie leonardAnnie Leonard is an American proponent of sustainability and critic ofexcessive consumerism.Leonard is best known as the creatorand narrator of the animated documentary about the life-cycleof material goods,The Story of Stuff.
  19. 19. Whats on its mind?Who would deny that our thoughts are our actions, the most responsible thing for todaysactions is education- but is it as modern as we proclaim our lifestyle?Its a Holy-factory-education system-Seetha Ananthasivan, who is the director ofPrakriya Green Wisdom School and BhoomiNetwork,Editor of “Eternal Bhoomi” Magazinedigs the whole educational scenario atdeeper unconscious levels ,She questions-“Educational planners designs content for various courses- but do we take into account thepower of what children learn unconciously?”Most students – and Most of us – hold some or all these notions and beliefs subconciously asa kind of template for the way we live life: ✔ A narrow, short term definition of success ✔ A self seeking way of life as legitimate ✔ Means are not as important as ends ✔ A good life is a life of high consumption and minimum physical labor ✔ Think within a boundary- not of the whole ✔ Put up with a split inner world ✔ Accept authority figures unquestioningly
  20. 20. These are a few of the meta frame works for our living today there must be more and theyhave their “inner” and “outer” ecological consequences. Taken together they can keep usdead locked in illusion and conditioning that makes it easy for us to go into denial or withdrawinto “business as usual” when confronted with huge and complex crisis like climate change.Perhaps understanding them will help us awaken to the importance of adding newdimensions to education- especially of fostering the ecological self within and engaging inecological wise ways without.A narrow definition of success- For ten to fifteen years in school and college, life revolves around tests, exams and marks. Marks determines success in school life and money determines success in later life. This narrow definition of success is an essential part of the prevalent development paradigm- but it has led to an impoverishment in many other spheres, those of artistic sensibility, holistic thinking and spiritual search.It has effectively blinded us to the civilization. Most importantly following the western modeldetermined by Macaulay,Descrates, Newton and Bacon. This narrow definition of success hascompletely undervalue the ecological widom of our culture, which could have provided themodel not only for education but also foe sustainibility.Selfishness is legitimate- allowedThrough out the years of formal education, a student is used to bothering his books, hisasignments, his tests, etc. never before in any age, have children and youth been sothoroughly groomed to be consumeristic and immersed in self-interest. Without opportunitiesto “learn” co-operation , since it is not required for school tasks- children get the implicitmessage that selfishness is fine as a way of life. As einstein said “ This crippling of individuals I consider the worst evil of capitalism- our whole educational system suffers from this evil: an exaggerated competitive attitude is inculcated into the student, who is trained to worship acquisitive success as a preparation for his future career. “
  21. 21. Means are not as important as ends-Parents and teachers encourage rote learning and tutions as the means to score high marksin exams without the understanding of or interest in,what is learnt.A student may opt for amedical seat if she cant get in to the engineering without worrying about whether she isinterested in healing or caring for others health, the lucrative career – the end is all thatmatter.Innumerable examples exist of unethical behaviour they may have co-evolved with ourfactories governments and malls, but arent they fostered by education?A good life is a life of high consumption and a minimum physical work- At school , children spend almost all their time in book related leasrning. In mainstream schools, doing physical work as a part of learning is unheard of. Very little part is allocated for experimental learning or even for games or sports,. Children in many homes in cities today are rarely required to do any physical work in the house- either because parents wants the child to focus on studies and “spare” the child such distractions. The hangover of our caste system perhaps plays a part as well in looking down on physical work. The TV and movies shows celebrity promoting a high consumption life-style, subtly encouraging everyone of us to consume as much as we can.Children pick up dreams of good life which makes it difficult for them to comprehend the needto think in fresh and natural ways, to critique the system and create new visions forsustainability.Think within a boundary- not of the wholeWear blinkers, follow instructions. Do not question, be agood soldier- dont think for yourself. See connections onlyselectively do not see long term connections or connectionsthat are many links away. These are the messages thatchildren pick up unconsciously in school when they have tofocus on a subject without given a choice and lessons foa aday, a day after day for 10-18 years of their life.Schools and colleges have designed syllabi, which arecontent heavy. The unintended consequence is thatther is nofocus on critical thinking and taking initiative for as larger
  22. 22. cause even if a few try to see the larger picture, most of us have forgotten to respond to reallife- issues all around us. Wearing blinkers also means that we dont think for whole school,the whole community or the whole earth- often not even for the whole family.Put up with a split inner world The school system and parents wants all children to learn same subjects without considering the childs talent and innate interests.from years of tolerating work which we do not value or like , we learn to live with an un resolved lack of alignment in our thought, feelin ga nad action. This split spills over into many things in life. I may have no interest or enthusiasm for my work, bit will persuit in it without looking for alternatives. I may understand my child love for music, but may push her into more science tuitionsinstead and deny her music classes. This ability to live with a split inner world. The pathology within- is reflected in the world outsidethat we have created.Unquestioning acceptance of authority- The class seating system seems designed to hardover power to the authority figure and to makechildren submit to the system, when the schoolsystem is almost universally accepted, itsfundamentals are not questioned.Our centralised authoritarian system may possiblywish good education for all, but it simply kills initiativeand the ability to question and hence we look for top-down solutions to all problems.Therfore hopefully we can also search for ways in which education can stem the tide. Manyeducational thinkers believe this is needed and possible to introduce new paradigms ineducation and most importantly make it such comprehensive that it is valued for the ends it isused for.Now all what further Generates from it ,is in its mind..!!
  23. 23. Whats its Face?He is the one who is the target from both sides, he is the consumer, he is the employee too.Consumer-He is the one who is blinded and distracted. How?Every week a new product is designed by businessesand their need is fed upon our minds with the tons ofAdvertisements-Hey ! “You suck”- Buy this and Rock..!We watch 153 hours of Television and 10,000advertisements a month..!and all this is thrown to us so secretly that we would not ever know that most toxic food todayis not in the countries like Somalia- but its human breast milk. • More than 500 products sold in the U.S. contain ingredients banned in cosmetics in Japan, Canada or the European Union. • Nearly 100 products contain ingredients considered unsafe by the International Fragrance Association. • A wide range of nanomaterials whose safety is in question may be common in personal care products. • 22% of all personal care products may be contaminated with the cancer-causing impurity 1,4- dioxane, including many children’s products. • 60% of sunscreens contain the potential hormone disruptor oxybenzone that readily penetrates the skin and contaminates the bodies of 97% of Americans. • 61% of tested lipstick brands contain residues of lead.
  24. 24. Employee-He is the one ,who is told by his education to abide by therules of Game, dont question- work harder ,earn more moneyso that you can afford the American Dream and then You willbe happy.He is the one who enjoys McDonalds culture without getting asound that farmers who produce the raw matrial for thecompany are commiting suicides at an alarming rate due todebt burden and hunger.!and even after abiding the rules of the game, he is the one,who is the victim of INFLATIONand RECESSION having no job and moneys value-security when he hits by Financial crisisand Stock market crashes..!But some may argue that not all the businesses are bad, there are lots of good businessesalso but question is not whether your business is bad or their business is bad. Thats adifferent issue.All I am telling you is that these things are happening..-two lakh farmers are committing suicides in third world countries while Mcdonald is earningmore than $22.8 Billion in revenues.-Despite using all those “Natural” and “Pure” cosmetics and food items- human breast milk isthe most toxic.-INFLATION and RECESSION is still there and may hit us any minute.!And how come is this happening?By our present system of Education, Businesses and Governments- the products we eitherdemand or being imposed – with “Take Care” slogan..!when we enter into jobs for earning more money even knowing that recession may take allthat from us- we are dreaming the same thing, doing the same thing and when they takeaway everything then we complain the SYSTEM- not knowing what are the Problems in thissystem that we accept so dearly ?
  25. 25. I want to ask you-how can it is possible to even move towards solutions without knowing that problem is us?-our own Face!How we have acquired such ugliness? Who has supported it?Its indeed the body and clothes of it- Businesses and Governments are bodies and economyis their clothes.Whats its body ?how businesses are possible to give us such a ugly face? Here we will see what dobusinesses need to work?Businesses needs-Businesses need two most important things to get themselves movingFirst is Money -Economical needlet us flip the picture to know thefirst need -Money !Money comes from Governmentsmove to banks andhas its value at Foreign exchangemarket and Stock markets . Second is Raw material for Production and Human labor- Environmental need. Governments own the natural resources, it makes the policies for businesses about how would they use countrys natural and human resource.This relation joins us-the people to businesses and governments, it makes for us anecessity to watch news ,the next budget, stock market situation.
  26. 26. but why I need to know about Banks ,Stock markets and Foreign exchange ,Natural andHuman Resources– blah, blah.. ?Because they are giving you Freaky Haircuts and you dont know whats wrong with them?To get the answer for-Q- How come the products and services you buy go highly expensive with the one word innews- INFLATION ?Q- You lose your job and your Boss go out of capital (bankrupt) with one word in news-RECESSION ?Q-To suspect that the money towards you are lured 24/7 , can be the cause of abovetwo,when the regulators of money- Banks and Governments fail or simply Lie to People ?Q- To know what lies in your cosmetics and food, how they are processed and dumped?thats why you need to know how businesses work , how do they fulfill their both economicaland environmental needs so that people can have products and lifestyle or have recessionand inflation, environment degradation on other side.
  27. 27. Whats its body? -Economical needsQ-What is Money?Q-What is Money, Governments and banks?Q-What is the relation between money and businesses? from banks ,stock market and foreignexchange market (FOREX)?, you will get on your own the connection of 1. INFLATION ==== Money,Governments and Banks 2. RECESSION=== Money and BusinessesWhat is Money? As the good that makes exchange possible, its the foundation of every economic activity. In the earliest times, people traded goods and services directly. This form of exchange is known as "barter." But barter had limitations in the marketplace. People perceived pretty quickly problems with that direct exchange: if you wanted, for example, fish and you had wheat, but the people who had fish didnt desire the wheat, you were stuck. Unless you went out and found some other good, possibly berries, that everyone in that society consumed. Then you would trade the wheat for the berries in full confidence that you could turn around and trade the berries for the fish or anything else you desired.Eventually, the most widely accepted goods in a society became valued for their use inindirect exchange. Money is simply another name for the most generally accepted medium ofexchange.
  28. 28. Money is simply another name for the most generally accepted medium of exchange. Through our history, many goods have served as money. Feathers from the Quetzal birds were used for exchange by the Mayan Indians up to the 15th century in Central America. Tealeaves compressed into bricks were traded in East Asia through the 1800s. Wampum shells were money to North American Indians, while early American colonists traded beaver pelts, which had a high value both at home and abroad. MetalAmerica coins first emerged in Greece andYou might think back, we can think back to a time Asia Minor during the 7th century BC.when iron was used as money, for example inAfrica, but imagine going into the Sears-Roebuck Gold and silver were valued for theirand trying to purchase, say, a lawnmower for use in beauty and jewelry and the$350. That would take a ton of iron, whereas it decorative arts. They were durable,only takes an ounce of gold. easily divisible, and limited in supply. These precious metals alsoOrigin of coins and paper money (notes)- had a high value-to-weight ratio,In 1536, less than fifty years after Christopher making them easily transportable.Columbus set foot on the American soil, aSpanish mint in Mexico City struck the first coins made in the New world. These silver coinseventually found their way into the British Colonies. Great Britains mercantilist policiesdeliberately tried to keep precious metals out of America, so the Spanish milled dollar becamethe unofficial currency. It was often divided into eight pieces for smaller transactions, hencethe term "pieces of eight," with 1/4 of the coin being "two bits."In 1792, Thomas Jefferson adopted the dollar as this countrys official monetary unit.He looked around. He investigated to see what the American people were using, and that wasthe dollar. So thats why the dollar became the standard in the United States. And we went onto a goldand silver standard, and started minting gold coins with the American eagle, a $10 gold coin.
  29. 29. What is Money-(gold) & Banks? The Gold standard ? As early as the 16th century in Europe, goldsmiths stored gold coins for their customers for a fee and issued receipts for the gold to the depositor. Thus began the use of paper as money. In other words, if you came in and deposited 10 ounces of gold for safekeeping, you got back receipts in the amount of 10 gold ounces and those receipts entitled you to instantaneously redeem that gold.thus,there was an implication,when people exchanged thosereceipts with each other, any one of them could go to the Gold to moneygoldsmith and could got their valuable gold- genuine scenario These receipts soonof money to gold conversion- termed safekeeping. became widely accepted as means of exchange,But it was assumed that there are equal amount of money since it was easier andnotes moving in economy as the value of gold is stored with safer to use the receiptsbankers. for significantSo ,These first bankers then took that process one step transactions. This wasfurther. the origin of banknotes as money substitutes.The origin of Inflation -when bankers started printing money- In effect, if the goldsmith had 1,000 ounces of goldwhat is Inflation? (Here regarding and 1,000 ounces of legitimate receipts being held bygold-Standard) the depositor of that gold, he could increase hisIn its most traditional meaning, profits by merely printing another thousand ouncesWhen people had more money worth of receipts, and lending them out. In whichbut less gold to convert it, then case he would effectively get fifty-percent reservethere is inflation, it is also called banking, or fractional reserve banking. Only ainflationary money because it fraction — 50% of the receipts — were now backeddoesnt fulfil bankers promise to by gold.convert it into gold. There was no longer a one-to-one ratio of paper to gold. Now there could be three or four pieces ofpaper in circulation for every unit of gold in the vault. These bankers were no longer simplystoring or warehousing gold for a fee, they were artificially inflating the money supplyand loaning out these phony receipts at interest. This system became known as "fractionalreserve banking" and was later transported to the early American colonies. It formed theroot of the American commercial banking and ultimately the Federal Reserve System.
  30. 30. Isnt it fraud with peoples gold and illegal?This is a fraudulent system, its not allowed in any other business. If you had a grain warehouse that hadloaned out the grain it was supposed to have in storage, thats considered criminal, and the guy would goto jail. But the banks are the one industry thats allowed to get away with this and to profit fromit.Its Legal !!! Government started printing money- what is a Federal Reserve System?Moving from Goldsmiths to BIGbanks, Foundation Of FederalReserve Bank-Alexander Hamilton became thefirst treasury secretary and in 1791set up the first Bank of the UnitedStates as Americas central bankto expand the supply of papermoney for the benefit of the government and the commercial banks, thus officially inflating themoney via fractional reserve system.From Federal Reserve System to Present Federal Reserve Bank: In 1908, the National Monetary Commission — headed by John D. Rockefeller Jrs father-in-law, Senator Nelson Aldrich — was set up to push for a central bank. In November of 1910, under the guise of a duck-hunting trip, six men took a secret train ride to an exclusive private club on Jekyll Island, Georgia, to write a Central Banking Act. The classified gathering read like a whos who of American banking. There were two Rockefeller men: Aldrich and Frank Vanderlip of the National City Bank of New York; two Morgan men: Henry P. Davison from Morgan Bank and Charles D. Norton, president of Morgans First National Bank of New York; Paul Walberg, a Kuhn-Loeb partner; and Assistant Treasury Secretary A.P. Andrew, who was friendly to both camps. They spent a week at the luxurious club as Morgans guests, crafting the proposal that would form the basis of the Federal Reserve System. It would be three years before their vision was realized.There are twelve regional reserve banks concentrated in the East and in the Midwest. Theboard of governors of the Federal Reserve controls and coordinates their activities. The boardis made up of seven members appointed by the president.It appeared to be a sound system,but the control of Feds open market committee was in thehand of Morgan protégé Benjamin Strong.
  31. 31. How do they regulate these different banks? What are there powers?First power of FED- They continued with the power of printing more money, in the face of“The Federal Open Market Committee”-What was the The Federal Open Market Committee? What do they do?The Federal Open Market Committee, now based in Washington, directs the Feds mostimportant instrument of monetary policy: the purchase and sale of government securities onthe open market. To increase the supply of money and credit, that is "to inflate," the Fed buysgovernment securities from a few handpicked firms with newly created money. To tightenmoney and credit, the Fed sells securities. In this, it can act on its own discretion.From buying government securities which is also called quantitative easing, it has followingpowers too! When the Fed was establishedSecond power of FED- in 1913, it cut reserveAnother device the Fed uses to control the amount of requirements in half over themoney in circulation is setting the discount rate: this is the next four years, doubling theinterest rate charged to member banks when they borrow money supply by the end ofshort term from the so-called "discount window." If the Fed World War I.lowers the discount rate for its loans, commercial bankswill likely borrow more from the Fed. This increases the Although the US was still on theamount of funds banks have to lend. Bank credit thus gold standard in 1913, it wasbecomes cheaper, as reflected in lower interest rates on quickly eroded as the Fedbank loans and credit cards. The increase in funds continued to expand the moneyavailable for banks to lend also increases the amount of supply. The first step wasmoney in the economy. backing Federal Reserve notes by only 40% in gold, allowingThird power of FED- the money supply to beand The Fed can also manipulate the nations money increased two and a half times.supply by raising or lowering the reserve requirement. The inflationary effect toBecause Banks are required to set aside a percentage of fractional reserve banking wastheir deposits as reserves to meet depositors also heightened by the centraldemands(its just a percentage- not the whole of bank.depositors money, as in 100% gold standard happens). Inside faulty governments, faulty banks, faulty loans and credit cards-okay, till now we have learnt about the ✔ history of money, ✔ what is the gold standard? ✔ Which was the first government-established-bank? ✔ And how todays most important countrys (United states) apex bank The Federal Reserve bank came into existence? ✔ What are its powers?
  32. 32. That all sounds so regulated, everything seems to be fine till now, they are creating money,regulating it to banks and then to people they are even managing the money supply then whatis wrong with it? "The Federal Reserve System virtually controls the nations monetary system, yet it is accountable to no one. It has no budget; it is subject to no audit; and noDont Look here Congressional Committee knows of, or can truly supervise, its operations." These are the words of the late professor Murray N. Rothbard, economist and academic advisor of the Ludwig von Mises Institute .The institute is dedicated to the ideals of a free market and sound money.All that Glitters is not GOLD-From Powers to DisastersPower to Disaster 1- INFLATIONthey can print more money,any time, without backing it by gold, such a money is furthermultiplied into “checkbook” and Credit card money-all these printed notes, checkbooks andcredit cards are available to people as “money” in the market and there is overflowing of“money” but no sufficient goods- results =more buyers less products= high prices of lessproducts= also called INFLATION.
  33. 33. From Power to Disaster 2- Interest ratesIt handles the interest rates of those banks by whom people take loans and credit cards,suppose when government had excess printed money with it, it had lowered the interest ratesso that more banks could borrow it and banks provided it further in lower interest rates- loansto people like you and me and even governments.We were so happy to get lower interestloans by HSBC or CITIBANK, ICICI, but all of sudden there is a panic in the market that notesor treasuries that government is selling are not backed by gold. They are creating money outof thin air then there is no value of dollar- government is in high Debt (by all the loans it gaveto banks and to people through banks) then what it will do?To get back on its feet it will increase the interest rates of its loans ,which would meant bankswill have to pay more interset to central banks what banks would get out of increasing theinterest rates of peoples loans- burden on People who were enjoying their cheap credit.From Power to Disaster 3-Lowering the reserve requirementwhen people deposit their money in banks, Banks are required to set aside a percentage oftheir deposits as reserves to meet depositors demands, but it is entirely in central bankshand to decide what percentage will be there in deposits?As we all know, not 100% gold nor equivalent deposits are always there in banks safe ,fromthe deposits they have with them and the money they lend -loans are always greater thandeposits,so , the Central banks can always lower the reserve requirement for banks andincrease the cheap credit-what causes INFLATION.Why would they want to increase the cheap credit?For two reasons- either they themselves wants to take cheap credit -for any benefit- fromfinancing wars to help a falling compnay save (also called bailout).Or they want to maintain the demand of dollars in world.Why do they want to maintain the demand of dollars in the world?So that people keep buying it from their savings and the status-quo of dollar is maintainedand they can further print more dollars reasoning that people are demanding it-while indisguise they are financing their wars, earning profits in each step. But why do all the people around the world keep on demanding US dollar? Why it is so important? Even knowing that central banks can print the US dollar out of thin air and nobody puts a check on it, in that case their US dollars will lose all their value,whats the need?
  34. 34. Thats the discussion on another topic-Why US dollar is so important? Can USDollar collapse?”For understanding this, we need to listenJane Daristawho is Jane Darista?Jane DArista is a research associate with thePolitical Economy Research Institute (PERI),University of Massachusetts, Amherst whereshe also co-founded an Economists’Committee for Financial Reform called SAFER,i.e. stable, accountable, efficient & fair reform.(http://www.peri.umass.edu/safer/).She is also a research associate at the Economic Policy Institute. Jane served as a staffeconomist for the Banking and Commerce Committees of the U.S. House of Representatives,as a principal analyst in the international division of the Congressional Budget Office.Representing Americans for Financial Reform, Jane has currently given Congressionaltestimony at financial services hearings. Jane has lectured at the Boston University School ofLaw, the University of Massachusetts at Amherst, the University of Utah and the New SchoolUniversity and writes and lectures internationally. Her publications includeThe Evolution ofU.S. Finance a two-volume history of U.S. monetary policy and financial regulation.Here is what she has to say about US dollar- the Key currency of World Trade
  35. 35. from this statement we can derive that how bubble created by printing backless money whengoes on as Cheap Credit from banks to governments to people, if burst-cause a world-wideshrinkage in Credit in other words- the financial and economic collapses.I know its complicated,because your question is-But why do all the people around the world keep on demanding US dollar? Why it is soimportant? Even knowing that central banks can print the US dollar out of thin air and nobodyputs a check on it, in that case their US dollars will lose all their value,whats the need?See by yourself in the coversation with her-Whats the relation of US dollar-a key currency and Other currencies?As we all know that before the federal reserve system there was a system of converting goldinto valuable money and to further use that most accepted currency as trading means. Soevery country converted their “found” gold into their currency and there were so many of themnow like pounds of Britain, Euro of Euro zone,Yen of Japan. Then there was another problem-how to trade internationally? What should be the key currency?Then the United states stepped in and introduced the international monetray system of semigold-inflation ,after the world war-II, which is still here in 2011.Authorised-key currency-US dollarWhat is the semi-gold inflation system?Under this system, US dollar was made (authorised) to be the only currency in the world inwhich trade can be done by each country on earth.which has made it the all important ofall, now if any business man wants to buy anything out of his own country- which most of theglobalised businesses do usually, they had to convert their currency into US dollars from theircountrys Central bank which made it essential for the government of that business man tohold US dollars in its foreign currency reserve so that it can convert them according to thebusiness needs of its people.How it was done?By authorising US dollar be the only currency , convertible into gold by the Federal reservebank ,United states .The rate fixed for dollar to gold conversion was $35=1 ounce(approx 28grams) of gold.Now, if any country is willing to do international trade with its neighbor,it would have to earnUS dollars and made its foreign currency reserves in US dollars because it was the onlycurrency convertible in gold by the only bank The Fedral reserve bank.
  36. 36. And what was the way to earn that only currency?Two ways are there-Either EXPORT your goods to US or simply BORROW U.S. DOLLARS by purchasing itsGovernments treasuries.US has been benifitting in both ways as, all the countries started exporting their goods to it-there is no shortage of cheap goods (why cheap?- later) inside US.And governments started demanding US dollars by borrowing it through US treasuries(loans),what increased its value in open market(foreign exchange market) where value is determinedby Demand of a currency,Also to serve that debt they had to earn more US dollars- two ways again- Take more debt toservice previous debt or export the goods!Its a vicious circle.it permanently created the demand for US dollars and made it mostimportant currency.So, it is the lifeline of all the global businesses who provide people jobs all around the worldfurther providing products to each and every person- globally.Thats why Us Dollar is so important.!So the BIG question is“Can dollar collapse? What will happen if it will collapse?”Yes, it can collapse if they- who create it, fail to convert it into gold, it will lose all its value.
  37. 37. How is it possible?Did it ever collapsed? Whathappened when it collapsed?In 1930- the era of GREAT DEPRESSION,dollar collapsed, in 1971,it collapsed againwhen they failed to convert all the US dollarsaround the world into gold since there wasntenough gold for conversion as it was movingaround in the market ,caused inflation.Why there were extra US dollars moving into market?Because people were demanding it (key currency)and it was in the hands of Federal reservesystem to print money.People were totally dependent on their credibility that there is enoughgold to support that currency they are going to print, but the bankers fooled the people, thistime the whole world with US dollars in their hands, was hit badly.In 1971, President Richard Nixxon closed the window of converting US dollars into gold,cozthey simply ran out of Gold.What was the after effect of it? As Nixxon denied the payment system, he handed the monetary system into the hands of private banks-like we see today, CITIBANK,HSBC etc.and they started speculating-done for earning profits, about the values of different currencies- including US dollar, causing the collapse in the dollar value in 1970s when Paul Aolph Volcker( Federal Banker and Economist) rushed in and incresed the interest rates of all the US dollar debts- GIVEN to other countries up to 20%, to earn more US dollars (FED used its power to Disaster-2)- to serve its own debts or public debts.
  38. 38. So the after effect of it was- ✗ People lost all the value of their investments, savings ,stocks that were in US dollars. ✗ Investments ,savings and stock capital is the lifeline of all the businesses around What does the dollar devaluation or the world so when businesses lost their “collapse” mean to you? money value, they could no longer buy the raw material nor pay the wages to its the devaluation of the U.S. dollar labor- people lost jobs- there was a means a decline in the purchasing acute shortage of products- inflation power of the dollar, which leads to a skyrocketed. decline in living standards. For ✗ Countries who were made to take laons example, if the US dollar declines 40% in US dollars by the IMF(International and you had a million US dollars, the Monetary Fund) had to pay back it in million dollars will only buy increased interest rates( from 1 or 2 %- $600,000.00 worth of goods and 20 %) services. You would have lost ✗ Throwing them into hell further- now $400,000.00 in purchasing power. they had to earn more US dollars- either by exports or taking more US loan. Any type of investment in dollars, such ✗ What happened inside those countries as saving accounts, saving bonds, that had taken loan?-suck your natural annuities, pensions, etc., will suffer resources -make products and export so from this decline. that you can earn those dollars to pay back the high interest loan.Okay, so what I do get is that- US currency has been made the Main( Key )currency for doingworld trade which creates the demand of it, but all didnt went well with it, when it didnt serveits promise to be convertible into gold- resulting tons of inflationary money invested in funds,worlwide- went valueless-causing Recessions, and hit the whole world-simply becausepeople were holding US dollars in their hands,everywhere- Thanks to the Key currency-system.Exactly.!
  39. 39. Then why dont they scarp it? Are US people benefitted by this system?They might thought so, when they implemented this US as key currency system, thinking thatthe whole world will start exporting goods to it- which would make products cheap in US andUS people without producing anything will enjoy cheap products.!Then has it been so?No, not exactly, but entirely opposite of it has happened because of two things-1) People inside the US were being told to buy only, that is not to produce- why?.2)To buy products, they were not given increased wages, but cheap credit- why?.Now the mystery lies in two statements that why they had been told to buy only and that is too not by wages but by cheap credit?Why -BUY only?It dates back in history when National Association of Manufacturers(Ohio,US), complained: “Youve(FED) driven up the value of the dollar to a point where we can sell nothing abroadand we cant sell anything in our own country-due to excessive cheap exports to US”. Theytried to bring down the value of the dollar toward the middle of the 1980s, but not sufficiently.And there was no real response., dollar had been made overpriced (for the reasons welldiscover later)so, what US manufacturers did?, They moved to the countries where there was cheap currency and cheap labor and started manufacturing things in foreign countries because dollar in the united states was too high driving their costs high, cheap country would mean cheap costs and they could now come back in US and sell those goods on competitive rates to earn larger profits. But that was not all, due to businesses moving out of country,people didnt have jobs with them, lacking money to buy those goods that were offered to them,by exports and their own manufactures.
  40. 40. There was no demand of goods, causing no demand of US dollar in open market, whichwould mean the collapse of US dollar and economy.Take Cheap credit-So the US governmnet played its move and provided people cheap credit - and they can keepbuying the products and dollar remain in its value, countries keep on exporting goods, thereis no shortage of good quality products in US and there is a demand of US dollar in Market .How did they provide cheap credit?It printed money- lent it on less rates to banks, banks lent it further more on less rates bycheckbook money and credit cards- causing boom in initial years when US people boughtrapidly the exported goods,
  41. 41. but soon after hitting the news that government is in great debt (debt means no backedcurreny or gold is there with the government-all printed notes are now debt) people-moneylost its value, they could no longer buy products with it, all the attraction of trade with USfaded away and there was a Financial crisis(2008-09) and Recession inside the Country andoutside the country.Fiat Money- Quantitative easing- the hollow attraction of US dollar-quick recap>>>Previously, Dollar was the only key currency which was convertible into gold but when Nixxonscrapped this system in 1971, then there was no demand of US dollar causing greatdepression within US,and then US made its people rich (by providing cheap credit) which attracted trade to US,causing demand of US dollar again in the market.But this was crashed again with the financial crisis of 2008-09.now the US has been tackling with this problem, governments are investing in othercountries,trading with their citzens by buying their currencies- US is not the only player now.To move out from the deflation- recession what do they do now? What is Fiat Currency? Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith. Most of the worlds paper money is fiat money. Because fiat money is not linked to physical reserves, it risks becoming worthless due to hyperinflation. If people lose faith in a nations paper currency, the money will no longer hold any value.
  42. 42. Money thus produced out of faith is used for Quantitaive easing,what is it?Quantitative" refers to the fact that a specific quantity of money is being created;"easing" refers to reducing the pressure on banks.Concept of Quantitative easing-Ordinarily, the central bank uses its control of interest rates, or sometimes reserverequirements,to indirectly influence the supply of money.In some situations, suchas very low inflation or deflation, setting a low interest rate is not enough tomaintain an adequate money supply, and so quantitative easing is employed tofurther boost the amount of money in the financial system.This is often considereda "last resort" to increase the money supply.The first step is for the bank to createmore money ex nihilo (“out of nothing") by crediting its own account. It can then usethese funds to buy investments like Government bonds from financial firms such asbanks, insurance companies and pension funds,in a process known as "monetisingthe debt".So, what really happens in quantitative easing, governments print more money, out of thin air,then they either take debt from banks or pension funds companies- increasing its debt. make it highly valued by showing its economy profitable – which creates demand of currency(dollar or any), now people buy it, they use it in the way of doing trade with that country. Easysupply of goods and services is maintained with in the country- globalization maintained!
  43. 43. But Alas !, it is a bubble with money produced out of thin air there is only a PROMISE ofeconomy as a profitable one-Faith.And what happens if same US economy is going in $14 trillion deficit?To pay the promised high interest on given-debt -they can increase the taxes, reduce their public welfare spending,(to reduce the expenditure and increase the income within the country)or they would increase the interest rates of third world country loans or simply create moneyout of thin air but they would pay you your high interest debt on the money that you had lent itor going to lend it- thats the Government security brought to you by Quantitative easing.Why dont US Government and Federal reserve scrap this system?Because there is no other system for them- they are trapped by previous debtsWe cant scrap quantitative easing-What do they say in news?“because this is the only solution to fight Recession and deflation-stagflation”for them its legitimate, they say first there is deflation in a country because CPI (ConsumerPrice Index) says sowhile actually food prices , gas prices, health care prices, tuition prices, taxes, subway fares,stock prices and bond prices are always higher than a year ago.so what you are telling me is that the fed thinks prices are going down, when in fact they aregoing up?Yes.and they think during the recession, with the high unemployment, it is better if the thingspeople need to buy cost more money?Correct. According to the ben bernanke(Federal reserve chief), the inflation will create thejobs and improve the housing market, it will create demand for US dollar and people wouldcome and trade with US- cheap products and More jobs.has this ever been tried before?yes. just last year the fed tried the quantitative easing with 2 trillion dollars.did that create the jobs?no.did it help the housing market?not at all.did it help anybody at all?yes, it helped the goldman sachs(an investment bank,which gives loan to US for its printeddollars for high interest).
  44. 44. how much of the money are they printing now?600 billion dollars.so even though the first 2 trillion did not create the jobs or improve the housing market, thefed decided to do another 600 billion anyway?yes.who put the ben bernanke in charge?the ben bernanke was first appointed by the president bush. then he was reappointed by thepresident obama.but wasn’t the president obama supposed to bring the change?yes.how is putting in charge the same fool, who has been wrong about everything, the change?well, under the president bush the ben bernanke only blew up the American economy. Underthe president obama, he is working on blowing up the entire global economy.that does not sound like the change we can believe in.definitely not.who else supports the ben bernanke?most economists around the world think the quantitative easing is very dangerous.does anyone think it is a good idea?yes. the people at the goldman sachsOh my god, do these people dont have shame?When you are lying to people for more than 70years, you forget about shame!The point that needs to be repeated over and overagain is that they know theyre creating a bubble,they know the bubbles going to burst someday,but it doesnt matter because the guys that aredoing all this are cashing out at every step of theway, either through bonuses or other ways.Federal reserve bank and US government-
  45. 45. we cant scrap this system-2) what is happening in those big buildings?So how in the world did things get to the point where the Federal Reserve feels forced torecklessly print gigantic piles of money?Well, it didnt happen overnight. Back during the 1980s and 1990s there were many peoplethat desperately tried to warn about what would happen if U.S. government debt was notbrought under control.Unfortunately, our politicians did not heed those warnings.Today, the U.S. national debt has reached a grand total of $14,137,541,098,872.71. It is 14times larger than it was just 30 years ago. It is the largest single debt in the history of theworld.So why dont our politicians just balance the budget now so that we dont keep having toborrow so much money?Well, there are some huge problems.First of all, when you combine entitlement programs such as Social Security and Medicarewith interest on the national debt, it comes to approximately 64 percent of all federalgovernment spending.But that is not the bad news.In the years ahead, entitlement spending and interest on the national debt are both projectedto absolutely explode.We are rapidly approaching a time when spending on entitlement programs and interest onthe national debt will be significantly greater than all of the revenue that the federalgovernment brings in each year. All federal revenues will be spoken for even before a singlepenny is spent on defense, education, running the government or anything else.Either entitlement programs are going to have to be seriously reformed or the U.S.government is going to have to come up with a massive amount of extra money from
  46. 46. somewhere or the U.S. government is going to have to borrow increasingly large piles ofmoney from someone.Unfortunately, there are no easy solutions and most of our politicians are scared to death totouch entitlement programs because it will mean that they will lose votes.But our entitlement programs were never meant to be as massive as they are today. Back in1965, only one out of every 50 Americans was on Medicaid. Today, one out of every 6American is on Medicaid.Obviously something has to be done, because the debt that we are passing on to futuregenerations is absolutely criminal. For example, every single child born in America today inherits $45,000 in U.S. government debt. Isnt that lovely?Of course our liberal friends believe that the answer is just to raise taxes.Oh really?The truth is that our taxation system is deeply broken.No tax income :(Small business owners and middle class Americans are being taxed into oblivion whilethose at the top of the food chain often pay no federal taxes whatsoever.For example, did you know that Citigroup did not pay a dime of federal taxes in the thirdquarter? Meanwhile, their executives continue to bring in bonus packages worth millions.Did you know that even though Boeing receives billions in federal subsidies every year andeven though it has a bunch of juicy government contracts it did not pay a single penny infederal corporate income taxes from 2008 to 2010?
  47. 47. Did you know that while Exxon-Mobil did pay $15 billion in taxes in 2009, not a single penny went to the U.S. Government? Meanwhile, their CEO brought in over 29 million dollars in total compensation that year.Our entire system is broken beyond repair and needs to be reconstructed from the ground up.But of course that simply is not going to happen.So what can be done?Not a whole heck of a lot.The truth is that the U.S. economy is on the verge of a major collapse.Marc Faber, the author of the Gloom, Boom and Doom report recently gave a speech in whichhe declared that the U.S. financial system is in such disastrous shape that only a "reboot" willbe able to save it.... I think we are all doomed. I think what will happen is that we are in the midst of a kind of a crack-up boom that is not sustainable, that eventually the economy will deteriorate, that there will be more money-printing, and then you have inflation, and a poor economy, an extreme form of stagflation, and, eventually, in that situation, countries go to war, and, as a whole, derivatives, the market, and everything will collapse, and like a computer when it crashes, you will have to reboot it.But can we just "reboot" the system and expect things to go back to normal?Of course not.The truth is that when the rest of the world completely loses faith in the U.S. dollar and in U.S.Treasuries the dominoes are going to start to fall. Eventually we are going to see a financialpanic that is going to make 2008 look like a Sunday picnic. Our economic system willmassively implode as all of the gigantic mountains of debt and paper money collapse like ahouse of cards.Right now the Federal Reserve is desperately trying to hold the system together by "paperingover" all of the mistakes.But in the end it is not going to work. In fact, what we are witnessingnow are the very early stages of hyperinflation.A lot of other nations in the past have thoughtthat they could just print their way out of trouble, but many of those "experiments" ended intotal disaster.Marc Faber is certainly right about one thing - all of this money printing is going to give ussubstantial inflation to go along with the high unemployment that we already have. This iscalled "stagflation" and anyone that remembers the 1970s knows that it is not a lot of fun.
  48. 48. But the Federal Reserve seems absolutely determined to print more money. Fed officials aredoing the same thing now that they did right before QE2.They are dropping hints about QE3and they are trying to break it to us gently.Well, it is about time that someone told the American people the truth. All of this moneyprinting is going to end in disaster and so you had better get prepared.Even as Barack Obama and Ben Bernanke publicly defend the Federal Reserve’s new $600billion quantitative easing program, top finance officials around the globe are expressingalarm and outrage.In fact, Barack Obama is very much in Bernanke’s corner. During his trip to India, BarackObama made it clear that he very much supports this new round of quantitative easing by theFederal Reserve…. “I will say that the Fed’s mandate, my mandate, is to grow our economy. And that’s not just good for the United States, that’s good for the world as a whole.”This is the exact opposite of what Barack Obama should be doing. He should be demandingaccountability from Ben Bernanke and the Federal Reserve. He should be trying to get theU.S. financial system back on some kind of solid footing.But we all know that is not going to happen. Obama had no problem renominating Bernanketo another term, and Obama has publicly supported him at every opportunity.And this time not only US will hit by the US dollar crash, but each and every countrywho is engaged in Globalized businesses and trade with US.How long is it going to be until everyone wakes up and starts acknowledging that “theemperor has no clothes” and Bernanke is running the U.S. economy into the ground?At this point, Bernanke has lost virtually all credibility. In 2009, he promised the U.S. Congressthat the Federal Reserve would not monetize U.S. government debt, but now that is exactlywhat is happening.
  49. 49. If the rest of the world cuts back on buying U.S. Treasuries, the Federal Reserve is going tofind itself with a gigantic mountain of debt that it will be forced to monetize.So what happens someday when China, Japan, Russia and the major oil producers in theMiddle East decide that enough is enough and they are not going to buy any more U.S. debt?Don’t think it can’t happen – these nations are not stupid and if they realize that the U.S.dollar is going to continually keep falling in value there could be a dramatic move away fromU.S. debt.If the rest of the world quits lending massive amounts of money to the U.S. government, ourleaders will be faced with three options. • The U.S. government could start trying to operate within a balanced budget (which would crash the economy), • interest rates on U.S. government debt could be raised until people would be willing to invest in Treasuries again (which would probably crash U.S. government finances and the economy), • or the Federal Reserve could just start monetizing most of the debt on a regular basis (which would likely eventually crash the entire world financial system).In order for the current world financial system to maintain stability, it is essential for there to befaith in the U.S. dollar and for there to be faith in U.S. Treasuries. Once faith in them is lost, itwill only be a matter of time until the world financial system totally crumbles.This new round of quantitative easing could be the “tipping point” that opens the door to theeventual complete and total collapse of the U.S. Dollar. Let us hope that the dollar does notcompletely fail any time soon, but with jokers like Bernanke and Obama running the show,there is not much reason for optimism.
  50. 50. Jane Darista quotes- People dont know that the US dollar they hold can also lose its valueand not even governments, they believe in their governments- who keep on lying to them andincrease their debt heavily and it is so important to look at this particular element in the globalsystem and understand that what is happening now as economies are under the gun and veryvulnerable, exchange rates are now changing more rapidly than ever, you have anexacerbation in competitiveness of US trade- impacting people inside the country and all whoare attracted to it by one way or another.Quantitative easing around the world-These charts show how central banks all over the globe have been recklessly printing money.Over the last 30 years virtually the entire world has developed a great love affair with fiatcurrency....
  51. 51. So is everyone printing money?The U.S. is printing lots of money.....Source, The St. Louis FedThe Bank of England is printing lots of money.....Source: The BoE
  52. 52. The EU is printing lots of money....Source: The ECBJapan is printing lots of money.....Source: The BoJ
  53. 53. China is printing lots of money.....Source: The People’s Bank of ChinaIndia is printing lots of money.....Source: Reserve Bank of India
  54. 54. Of course anyone with half a brain can see where all of this is ultimately headed. In the end,inflation is going to spiral out of control and we are going to witness financial implosion on aglobal scale.So why dont these nations just adopt sound money?Well, it turns out that if you are a member of the IMF, you are specifically prohibited fromhaving gold-backed currency.Yes, you read that correctly.In fact, U.S. Representative Ron Paul once sent an open letter to the U.S. Treasury and theFederal Reserve asking about this and he received no response. The following is the contentof that letter.... Dear Sirs: I am writing regarding Article 4, Section 2b of the International Monetary Fund (IMF)s Articles of Agreement. As you may be aware, this language prohibits countries who are members of the IMF from linking their currency to gold. Thus, the IMF is forbidding countries suffering from an erratic monetary policy from adopting the most effective means of stabilizing their currency. This policy could delay a countrys recovery from an economic crisis and retard economic growth, thus furthering economic and political instability. I would greatly appreciate an explanation from both the Treasury and the Federal Reserve of the reasons the United States has continued to acquiesce in this misguided policy. Please contact Mr. Norman Singleton, my legislative director, if you require any further information regarding this request. Thank you for your cooperation in this matter. Ron Paul U.S. House of Representatives
  55. 55. Sadly, the truth is that the global elite dont want nations to start adopting gold-backedcurrencies. They want countries to use fiat currencies that they can openly manipulatefor their own benefit.At this point, every nation on earth (to the best of my knowledge) uses a fiat currency. Allof the major global currencies are being continually devalued. In fact, there are timeswhen counties will purposely devalue their currencies even more rapidly in order togain a competitive advantage in world trade.This is why so many investors now have such an aversion to paper currency. It starts losingvalue the moment you take possession of it.In some areas of the world, "gold fever" is absolutely exploding. For example, China importedfive times as much gold in 2010 as it did in 2009. On the Shanghai Gold Exchange, tradingvolume soared 43 percent during the first 10 months of 2010.Gold, silver and other precious metals are now seen as a great hedge against inflationworldwide. Investors all over the globe are demonstrating a strong preference for "realmoney" over "paper money".So what does all of this mean?It means that some tremendous imbalances are being built up in the global financial system.The central banks of the world must continue to inflate these bubbles with constantlyincreasing amounts of paper money and debt in order to keep the game going. If at somepoint the reckless money printing comes to a screeching halt it is going to unleash hell onglobal financial markets.But if all of this reckless money printing continues we are eventually going to see horrificinflation all over the planet. In fact, we are already seeing significant inflation happening inmany areas of the globe. Almost every single day a new headline about inflation in Chinaand india seems to pop up in the financial news. Rising food prices are sparking unrest in theMiddle East and elsewhere. Even U.S. consumers are starting to see some uncomfortableprice increases at the gas pump and in the supermarket.So it is not just Federal Reserve Chairman Ben Bernanke that is off his rocker. The wholeworld is going crazy with money printing.Hopefully this whole thing is not going to end as badly as many of us fear that it will. But rightnow the central banks of the world are pumping unprecedented amounts of cash into theglobal financial system, and those in the global financial system are funneling a very largepercentage of that cash into hard assets. Unless something changes, that is going to meanthat prices for basic necessities such as food and gas are going to continue to rise.This is quite a fine mess that we are in.Does anyone see a way out?
  56. 56. In the News-High Debt and Fiscal Austerity in Britain- Currently, Britain faces a budget deficit that is 11 percent of its GDP(Gross domestic product-total value of goods and services produced), slightly greater than that of the United States.Much like the U.S., Britain accumulated much of its debt as a result of the housing andinvestment bubble that collapsed in 2008, the recession, and associated government stimulusspending. For conservatives, the resulting record deficit presents a ripe political opportunity tocut spending and lower the deficits.This goal would require budget cuts to the tune of around £81 billion, thus rapidly increasingthe pace of fiscal retrenchment. Most of these cuts would entail reductions in publicservices and welfare spending coupled with an increase of 2.5 percent in the valueadded tax (VAT).Unfortunately, the implications of such intensified fiscal austerity could be disastrousfor the British economy. To begin, the cut in public spending would result in a loss of490,000 public sector jobs, the equivalent of three million jobs in the United States,representing nearly 8 percent of the total government workforce.The Justice Department and the Foreign Office are two of the many major governmentagencies that will lose a substantial portion of their workforce. Such unprecedented cuts invital government agencies will end up harming the British people even further.To make matters worse, economists have predicted that the budget reductions couldtranslate to the loss of as many as half a million jobs in the private sector.Given that the unemployment rate is already at 8 percent, Britain cannot afford another shockto the labor market. Advocates of fiscal austerity have claimed that deficit cutting instillsconfidence in businesses and customers by demonstrating the government’s proactivity ineconomic matters.In a recent report, however, the International Monetary Fund asserts that this claim is, in fact,a myth. It explains that trying to balance a budget in the short term in the face of fallinginflation and high unemployment could lead to further economic depression, which wouldthen, ironically, scare off more business.
  57. 57. Now,imagine,where the people are standing in such a Businessenvironment? We never know what is happening out there in thosewhite buildings?We never know about the value of money we hold in our hands willjust wipe out due to panic in wall street about inflationary money?We never know the change we believe in has never been imaginedby those who boast to bring it from 70 years?But a little bit of political and economical knowledge can make thisclear to us ,what is the spiral of financial crisis is and Inflation andrecession are never tackled by our ever changing and ever stuckedgovernments.From now on, I will definitely think twice before believing ingovernments and their promises. It is our responsibility to thinkbeyond present job opportunities, business and economic perksThis is not a Twilightepisode, it has happened duringgreat depression(1930),Financialcrisis(2008-2009).
  58. 58. Whats its body?-Environmental needsBusinesses dont create products out of air, they need raw materrialfor their production they need human labor that is we the people toturn them into products. We consume them and they make profits,we see them fulfilling our needs, but we never wonder that how theyare producing? Whats the process of their manufacturing a cellphone , cosmetics, mineral water bottles all the things that weconsume and how do they dump it?For that to know,we need to look beyond the advertisements andfalse claims that are made by the businesses, we need not to trustblindly what have been fed in our minds and complain later tosystem rather apply our own reason and make better choices.In this section we will continue exploring the next need ofbusinesses that is of natural and human resources with the help ofresearchers like Annie Leonard and P.Sainath.So that we can interpret that how and why our stuff turnitself.....................
  59. 59. From this -To This !!-
  60. 60. Annie leonardo has made a applaudable attempt to dig deeper in ourconsumption lifestyle- what she says in her own words is “Thesystem in crisis”heres what she has got-
  61. 61. so, what is the story of stuff?what the text books said isthat our stuff simply moves along these stages: extraction to production to distribution toconsumptionto disposal. All together, it’s called the materials economy.She spent almost 10 years travelling around the world tackling where the stuff comes fromand where it goes? And what she found out that this is not the whole story- there is a lot moremissing from the picture.Annie:For one thing, this system looks like it’s fine. No problem.But the truth is it’s a system in crisis.And the reason it is in crisis is that it is a linear system and we live on a finite planet and youcan not run a linear system on a finite planet indefinitely.Every step along the way, this system is interacting with the real world. In real life it’s nothappening on a blank white page. It’s interacting with societies, cultures, economies, theenvironment. And all along the way, it’s bumping up against limits. Limits we don’t see herebecause the diagram is incomplete. So let’s go back through, let’s fill in some of the blanksand see what’s missing.Whats missing from “where the stuff comes from and where it goes”?Lets find out.Well, one of the most important things that is missing is people. Yes, people. People live andwork allalong this system. And some people in this system matter a little more than others; some have a little more say. Who are they? Well, let’s start with the government.
  62. 62. It’s the government’s job is to watch out for us, to take care of us. That’s their job.Then along came the corporation. Now, the reason the corporation looks bigger than the governmentis that the corporation is bigger than the government.Of the 100 largest economies on earth now, 51 are corporations.As the corporations have grown in size and power, we’ve seen a little change in thegovernment where they’re a little more concerned in making sure everything is working out forthose guys than for us.And what else is missing from the picture?ExtractionWe’ll start with extraction which is a fancy word for natural resource exploitation which is afancy word for trashing the planet. What this looks like is we chop down trees, we blow upmountains to get the metals inside, we use up all the water and we wipe out the animals.So here we are running up against our first limit. We’re running out of resources.We are using too much stuff. Now I know this can be hard to hear, but it’s the truth and we’vegotta deal with it. In the past three decades alone, one-third of the planet’s natural resourcesbase have been consumed.Gone. In the United States, there are less than 4% of our original forests left. Forty percent of waterways have become undrinkable.
  63. 63. We are cutting and mining and hauling and trashing the place so fast that we’re underminingthe planet’s very ability for people to live here.Annie:And the problem is not just that we’re usingtoo much stuff, but we’re using more than ourshare.The U.S.has 5% of the world’s population butwe’re consuming 30% of the world’s resources andcreating 30% of the world’s waste.If everybody consumed at U.S. rates, we wouldneed 3 to 5 planets.So, the U.S.response to this scarcity of Resourcesis simply to go take someone else’s!This is the Third World,which—some would say—is another word for our stuff that somehow got on someone else’sland.So what does that look like?The same thing: trashing the place.• 75% of global fisheries now are fished at or beyond capacity.• 80% of the planet’s original forests are gone.• In the Amazon alone, we’re losing 2000 trees a minute. That is seven football fields aminute.And what about the people who live here? Well. According to these guys, they don’t ownthese resources even if they’ve been living there for generations, they don’t own the means ofproduction and they’re not buying a lot of stuff. And in this system, if you don’t own or buy alot of stuff, you don’t have value.

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