Rethinking Money Quotes

“To paraphrase the insightful words of the late Irish politician James Larkin, when tackling the issues facing a nation going through monumental changes, having just discarded the shackles of 700 years of colonialism: It is not so much the bread on the table, but also the rose. What Larkin was saying is still poignant and relevant today, almost a century later, that there is a deep yearning in all of us that goes beyond the practicalities of providing one’s daily bread. There is a profound hunger for decency and beauty in such a seemingly graceless age.”
― Bernard A. Lietaer, Rethinking Money: How New Currencies Turn Scarcity into Prosperity

“For the most part, our educational systems remain rooted in the outdated and fractured Prussian model, which teaches people to take orders rather than think for themselves. Paired with the technological advances in communications, we are left swimming in an ever-engulfing sea of facts, unable to find meaning, never mind wisdom.”
― Bernard A. Lietaer, Rethinking Money: How New Currencies Turn Scarcity into Prosperity

“Even in the domain of conventional currencies, this trend is in evidence. Today, 14 U.S. states, namely, Colorado, Georgia, Idaho, Indiana, Missouri, Montana, New Hampshire, North Carolina, South Carolina, Tennessee, Utah, Vermont, Virginia, and Washington, have taken action to create their own state currency, usually backed by a precious metal such as gold or silver.24 In the case of Utah, for example, the Utah Legislature has passed a bill allowing gold and silver coins to be used as legal tender in the state—and for the value of their precious metal, not just the face value of the coins. Utah’s bill allows stores to accept gold and silver coins as legal tender. It also exempts gold and silver transactions from the state’s capital gains tax, though that does not shield exchanges from federal taxes.”
― Bernard A. Lietaer, Rethinking Money: How New Currencies Turn Scarcity into Prosperity

“What is known is that monetary crashes invariably leave people in fear, despair, and anger. This is an explosive social mix that irresponsible demagogues can and do exploit, even today. What started as a monetary problem in the former Yugoslavia, for example—exacerbated by the IMF readjustment program in the late 1980s—was swiftly transformed into intolerance toward “others.” Minorities were used as scapegoats by ethnic leaders to redirect anger away from themselves and toward a common enemy, providing the sociopolitical context for extreme nationalist leaders to gain power in the process. Within days of the 1998 monetary crisis in Indonesia, mobs were incited to violence against Chinese and other minorities. Similarly, in Russia, discrimination against minorities was aggravated by the financial collapse of the 1990s. With the fall of the Berlin Wall and the collapse of Soviet communism, it could be argued that the identified archenemy of the United States has now been supplanted with a new foe, immigrants and the poor.”
― Bernard A. Lietaer, Rethinking Money: How New Currencies Turn Scarcity into Prosperity

“The repression of cooperative currencies, together with other anti-inflationary decisions by the Reichsbank, led to a sharp decline in the German money supply.10 As a result, the Schwanenkirchen mine and hundreds of other businesses were forced to shut down, and unemployment soared again. As helping themselves on a local level became increasingly more difficult for people, advocates of centralized solutions gained appeal. In the beer halls of Bavaria, an obscure Austrian immigrant began drawing audiences to his fiery speeches that promised a return to jobs and glory. His name was Adolf Hitler.”
― Bernard A. Lietaer, Rethinking Money: How New Currencies Turn Scarcity into Prosperity

“Success, in the words of Winston Churchill, “consists of going from failure to failure without loss of enthusiasm.” The greatest barriers to success so far have been the fear of failure and the failure to learn from mistakes.”
― Bernard A. Lietaer, Rethinking Money: How New Currencies Turn Scarcity into Prosperity

“Set up a TimeBank Rotating Loan Club wherever anyone who has a cause, a dream, a vision of what they would like to change or what they would like to see happen could get a time commitment of 90 days to make that happen. Like Rotating Loan Clubs, everyone would have a chance to do that: I’ll help with your cause for 90 days if you will help with mine. Imagine the possibilities.”
― Bernard A. Lietaer, Rethinking Money: How New Currencies Turn Scarcity into Prosperity

“Several decades of research have shown that learning retention depends less on the person or the topics involved than on the delivery system. What is striking is that our traditional educational system commonly uses the two least effective methods available: lecturing and reading, through which, respectively, only 5 and 10 percent of what is taught is retained. At the other end of the spectrum, an impressive 90 percent retention rate applies to whatever one teaches others!”
― Bernard A. Lietaer, Rethinking Money: How New Currencies Turn Scarcity into Prosperity

“It’s critical to understand the definition of the word currency. So for me currency is information between a buyer and a seller. Two people are involved in a transaction where the money symbolizes the exchange of value. So, I buy a sweater. We agree that it’s worth 20 units of whatever. The sweater is the thing with the value; the money is not, of course. Money is not valuable at all, but money allows you to buy things, which are valuable. This distinction should be understood. And it’s not generally known or appreciated by most people.”26”
― Bernard A. Lietaer, Rethinking Money: How New Currencies Turn Scarcity into Prosperity

“It is a slow day in the small Saskatchewan town of Pumphandle, and streets are deserted. Times are tough, everybody is in debt, and everybody is living on credit. A tourist visiting the area drives through town, stops at the motel, and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs to pick one for the night. As soon as he walks upstairs, the motel owner grabs the bill and runs next door to pay his debt to the butcher. The butcher takes the $100 and runs down the street to retire his debt to the pig farmer. The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Co-op. The guy at the Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her “services” on credit. The hooker rushes to the hotel and pays off her room bill with the hotel owner. The hotel proprietor then places the $100 back on the counter so the traveler will not suspect anything. At that moment, the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill, and leaves. No one produced anything. No one earned anything. However, the whole town is now out of debt and looking to the future with a lot more optimism.”
― Bernard A. Lietaer, Rethinking Money: How New Currencies Turn Scarcity into Prosperity

“Surprisingly straightforward in their clarity and simplicity, Lietaer and Dunne point out that money is a human invention. Our current monetary system was designed some 300 years ago, during an era that knew nothing of natural limits and had a completely different set of objectives and priorities. It’s a tool that should be serving us, rather than being our master. And since it is a man-made construct, it can be re-thought, re-imagined, and redesigned.”
― Bernard A. Lietaer, Rethinking Money: How New Currencies Turn Scarcity into Prosperity