Global Resource Bank
The Global Resource Bank is a monetary reform project which would tie the value of currency strictly to yield of natural capital. Although David Suzuki, Paul Hawken and others have promoted similar principles, the GRB is primarily the brainchild of John Pozzi who claims that it derives from principles taught by:
Apparently, the Bank's scheme removes consumption and demand management from monetary policy and works strictly from the production or supply-side but using nature's services, not the human economy, as the base. It is a form of creditary economics as it is central banking without debt or use of interest rates to control the money supply. Instead it simply accepts the variation in ecological yields as a constraint, and reflects the relative global wealth or poverty (say expressed as a shifting value of Earth).
It was one of three schemes for such comprehensive reform of global currency and money markets actively promoted by the United Nations, the other two being UNILETS and variants of the Ithaca Hours system.
Of these, the GRB was the only one to propose imposing a single global currency management regime, and would effectively replace the Bretton Woods institutions (the IMF, BIS and World Bank). It would also deal directly with global debt by issuing ecological credits.
See also: Natural Capitalism
External links
- http://grb.net - main web presentation, supporters
- http://yahoogroups.com/group/grb - discussion
Referenced By
Bretton Woods | Civil commons | Commodity market | Commodity markets | Creditary economics | Gold Exchange Standard | Gold Standard | Increase biodiversity | Ithaca Hours | John McMurtry | Life economy alternative | Life ground | Negative commodity market | New resistance | Triple bottom line | UNILETS
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