![Page 1: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/1.jpg)
Why we Need a Monetary Ecosystem
Scientific Evidence for Complementary Currencies
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What to answer to
•Those who claim that Bitcoin is a potential
problem for banks or the official money
system?
![Page 3: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/3.jpg)
What to answer to
•Those who claim that Bitcoin is a potential
problem for banks or the official money
system?
© Conventional money provokes various un-
sustainabilities
(2) Conventional money is structurally unstable
(3) Bitcoin as part of a monetary ecosystem is part of
a solution for systemic instability!
![Page 4: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/4.jpg)
A Simple Question
•Who creates conventionalmoney?
![Page 5: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/5.jpg)
A Simple Question
• Whocreates conventionalmoney?
-The Government?
-Central Banks?
![Page 6: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/6.jpg)
A Simple Question
•Who creates conventionalmoney?
—The Government?
—Central Banks?
—Someone else?
![Page 7: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/7.jpg)
All « national » moneys are created
- out of nothing (« fiat » money)
- through bank debt
- with interest!
![Page 8: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/8.jpg)
How many of you have used a
complementary (non-conventional)
currency other than Bitcoin?
![Page 9: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/9.jpg)
Plan
• Conventional Money generates un-sustainabilities
* Systemic Cause for Monetary Instability
* Systemic Solution
• Conclusions
![Page 10: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/10.jpg)
Conventional Money System is theSystemic Cause for 4 Un-sustainabilities
1 !t Amplifies Business Cycles
2) It Makes Economic Growth Compulsory
(3) It Automatically Concentrates Wealth
@ It Programs Short-Termism
![Page 11: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/11.jpg)
1. Money Creation Process amplifiesthe business cycle
EconomicCycle
after money
Creation
Business(Inventory)
Cycle
![Page 12: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/12.jpg)
2. Compulsory Growth
GRO
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•When a bank creates money through
a loan, only the principal is being
created, not the interest.•Without new loans (i.e. new growth),
everybody goes bankrupt!
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3. Money System AutomaticallyConcentrates Wealth
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![Page 15: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/15.jpg)
•What is the Median wealth(most frequent amount) of US
households?
![Page 16: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/16.jpg)
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Comparison of Interest Paid & Gained
in ten groups of households of 3 8 million eachreference year 2000
all values in thousands of Euros per household per year
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4. Conventional Money GeneratesShort-termism
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Plan
• Conventional Money generatesunsustainabities
• Systemic Cause for Monetary Instability
• Systemic Solution
• Conclusions
![Page 23: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/23.jpg)
Money System is itselfstructurally unstable
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Between 1970 -2010 IMF identified:145 banking crashes204 monetary collapses76 sovereign debt crises
425 systemic crises = more than 10 countries/year!
My Claim: Our conventional money system isstructurally unstable!
![Page 25: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/25.jpg)
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Sustainability of Complex Networks
•Robert Ulanowicz 25 years of ecosystems flowdata. Natural ecosystems have in common to besustainable. What else do they have incommon?
![Page 27: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/27.jpg)
Sustainability of Complex Networks
•Robert Ulanowicz 25 years of ecosystems flow
data. Natural ecosystems have in common to besustainable. What else do they have incommon?
•Sustainability of complex network results fromappropriate balance between andResilience, emergent properties from 2structural variables of complex networks:diversity and interconnectivity
![Page 28: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/28.jpg)
Balance in Natural Networks
Resilience
Efficiency
![Page 29: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/29.jpg)
(In)Balance in Our Financial Network
"Monoculture = accident waiting to happen"
Efficiency
Resilience
![Page 30: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/30.jpg)
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« Monetary Ecosystem » is NOTa
metaphor !!!
•Diversity and intercormectivity are 2 structural
variables => applies to all complex flow networkswith similar structure, including money system!
• Structural variables are independent from what is
being processed in network
— biomass in an ecosystem,
— electrons in electrical circuit,
- information in immune system,
- money in an economy
![Page 35: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/35.jpg)
Key Points
© We need monetary diversity, even to stabilizethe conventional money system
(2) Resilience requires sacrificing some efficiency
(3) Digital Age Monetary innovations provide
tools to motivate people at different scalesand issues.
![Page 36: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/36.jpg)
Plan
* Conventional Money generatesunsustainabities
• Systemic Cause for Monetary Instability
• Systemic Solution
• Conclusions
![Page 37: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/37.jpg)
Sustainability Optimum
100%
/Excess
xcess
Resilience
o%
Resilience <<fci{Diversity + Interconnections)
Efficiency (A){Streamlined)
![Page 38: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/38.jpg)
Sustainability Op6™mNaturai
Ecosystems100%
0%
Efficiency (A)(Streamliner!)
Resilience (ÿ)(Diversity + Interconnections)
![Page 39: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/39.jpg)
Optimumÿ jyja(||ra|
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Sustainability
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Resilience(Diversity + Interconnections)
Efficiency (A)(Streamlined)
![Page 40: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/40.jpg)
Susiarnability Optimum \a|Ural
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![Page 41: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/41.jpg)
Optimum•
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Efficiency (A)(Streamlined)
![Page 42: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/42.jpg)
Sustainability Optimum
1 / “ Window of "
/ Viability
4—*ÿf Collapse of
Financial System
100%
0%
Resilience (*t»)(Diversity + Interconnections)
Efficiency (A)(Streamlined)
![Page 43: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/43.jpg)
Natural Recovery
Suslamability Optimum _100%
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Resilience (<t»l
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![Page 44: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/44.jpg)
Sustainability Optimum
* * ; Reestablishment ofMonopoly of Bank-debt Money
f Window of
f Coilap&e ofFinancial System
100%
0%
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Efficiency lA)(Streamlined)
![Page 45: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/45.jpg)
Sustainability Optimum
* ; Reestablishment ofMonopoly of Bank-debt Money
\LggZXw Collapse of
Financial System
100%
0%
Resilience (4>l
(Diversity + Interconnections)
Efficiency (A)(Streamlined)
![Page 46: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/46.jpg)
Plan
• Conventional Money generates un¬sustainabilities
• Systemic Cause for Monetary Instability
• Systemic Solution
![Page 47: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/47.jpg)
Towards a Monetary Ecosystem:
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Sustainability Opt jmumEffect of
ComplementaryJ Currencies
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*IWindow ofZ Viability
CurrentOperation of AFinancial Systei
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Resilience HO(Diversity + Redundant Interconnections)
Efficiency (A)(Streamlined]
![Page 49: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/49.jpg)
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Other Example: Regios in Germany
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Other Examples
* Big variety of socialpurpose currencies: elderly
care, ecological, learning, etc.
• Terra: A global currency that makes it profitable
for multinationals to think long-term
* Dual Currency Banking reduces poverty (Brazil)
•Loyalty Currencies: most common commercialcomplementary currencies
•Etc. etc. etc.
![Page 53: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/53.jpg)
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Plan
• Conventional Money generates severalun-sustainabilities
• Systemic Cause for Monetary Instability
• Systemic Solution
• Conclusions
![Page 55: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/55.jpg)
Our international monetary system is in
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Value ShiftPatriarchal vs, Matrrfocal
Patriarchal Societies • Matrifocal Societies
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Value Shift
Patriarchal vs. Matrifocal
* Patriarchal Societies
Monopoly of centralizingCurrency with interest
=> Great for Industrial Revolution
• But Promotes:
- Booms & Bust cycles
- Concentration of wealth
- Destroys community(incompatible with gift
economy)
• Matrifocal Societies
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![Page 58: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/58.jpg)
Value ShiftPatriarchal vs. Matrrfocal
* Patriarchal Societies
Monopoly of centralizing
Currency with interest=> Great for Industrial Revolution
• But Promotes:
- Booms & Bust cycles
- Concentration of wealth
- Destroys community(incompatible with gift
economy)
* Matrifocal Societies
Duai Currency Systems
- Partriarchal one for long-distance
- Different type of currency (bottom
up) for local exchanges
• Promotes:
- Economic stability for centuries
- General well-being for the "littlepeople”
- Builds and sustains community
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Value ShiftPatriarchal vs. Matrifocal
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Conclusions
© We need monetary diversity, even to stabilizethe conventional money system
(2) Complementary currencies make it possible
to flexibly adapt to the changes coming in the21st century
(3) Bitcoin and other crypto-currencies are part
of a systemic solution in an emerging
monetary ecosystem!
![Page 61: Bernard Lietaer - Scientific Evidence for Complementary Currencies](https://reader033.vdocuments.us/reader033/viewer/2022052308/568ca98d1a28ab186d9df108/html5/thumbnails/61.jpg)
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Follow Up
• www.lietaer.com
• Articles in 4 different peer-reviewed journals
• => see www.lietaer.com/research