Bernard Lietaer on how Iceland can resolve its financial situation

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Uploaded by smarimc on Mar 18, 2010

After a great little sit-down session discussing methods for reviving Iceland's economy, economist Bernard Lietaer agreed to do this little video to outline the ideas he had. In short, they are: - Translate the demands of the Dutch and British governments into a debt in the form of sustainable kilowatt hours, then allow countries to supply their own infrastructure to collect on those kilowatt hours. [Contractualise the flow rate and peak production rate, but more importantly, make it so that only sustainable renewable energy counts, or that non-renewable energy will be more costly.] - Create a C3 currency (Commercial Credit Circuit; http://www.worldacademy.org/fo<wbr>rum/commercial-credit-circuit-<wbr>c3) and allow companies to trade this demurraged, insured currency amongst themselves. Each unit of currency only exists until the backing debt has been paid, at which point it can be cashed in for traditional currency at zero cost. (Sorry my phone rang about half way through it and I don't have a computer that can edit it out at the moment, so I just left it in there. The good news is that the person who called will be on my next video interview ;))

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