8-minute TEDx video: economics for 100% of Earth’s inhabitants’ success

The Venus Project of Jacque Fresco, featured in the Zeitgeist films, documents a “resource-based economy” to optimize Earth’s resources for the success of all Earth’s inhabitants. This 8-minute video is the best I’ve found for concise and powerful communication of this possibility.

In contrast, the economy we have is by the 1% for the 1%. These are its features:

  1. What we use for money is created by 1% bank owners as a debt that must be repaid with interest. This causes increasing total debt that can never be repaid because that is what we use for money. The promotion of debt owed by the 99% to the 1% as somehow “good” for the 99% is criminal economic fraud in annual damages of trillions of dollars, harm to billions of people, and deaths to millions of people.
  2. The 1% operate in cartels that collude to transfer the 99%’s wealth to themselves. This includes a war cartel that kills millions in Orwellian violation of war law (military armed attacks are Wars of Aggression in all cases except when under armed attack by another nation’s government).
  3. The 1% corporate media lie and distract rather than ever expose the 1%’s crimes centering in money and war, and never seriously report on topics such as a resource-based economy in benefit for 100% of us.

The solution to get from our “debt supply” in Orwellian opposite of a money supply to a resource-based economy will likely happen through monetary and credit reform as a first step:

  • Monetary reform creates debt-free money that extinguishes national debt (details here),
  • allows government to become employer of last resort for infrastructure investment (hard and soft) for full-employment and optimal infrastructure,
  • causes falling prices because infrastructure historically creates more value to the economy than cost.

Credit reform allows for public loans (interest directly pays for public goods/services) as another monetary tool for stable money supply (credit reform details here). An example could be 2% mortgages from a state-owned bank that would completely fund state taxes.

This brighter future is why we Occupy, and why we demand arrests of the criminal 1% that choose debt, deprivation, and War Crimes.

We invite your full participation. The choice of where you place your thoughts, words, and actions is your future. Choose wisely.

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  • Bill

    good old jacque. We need either an RBE or Anarcho Capitalism. Dont care which, just one of them.

  • Bev

    much better than a state bank:




    1) Won’t the government creating new money for infrastructure and other expenses cause inflation?
    No. While this is an important concern, some of it is anti-governmental propaganda and it need not cause inflation, depending on where the new money goes, for example:

    When new money is used to create real wealth, such as goods and services and the $2.2 trillion worth of public infrastructure building and repair the engineers tell us is needed over the next 5 years, there need not be inflation because real things of real value are being created at the same time as the money, and the existence of those real values for living, keeps prices down.

    If it goes into warfare or bubbles (real estate/Wall Street/etc.) it would create inflationary bubbles with no real production of goods and services. That is the history of private control over money creation. It must end now. Government tends to direct resources more into areas of concern for the whole nation, such as infrastructure, health care, education, etc. The AMA Title 5 specifies infrastructure items including human infrastructure of health care and education to focus on.

    Also remember, the American Monetary Act eliminates ‘fractional reserve banking’ which has been one of the main causes of inflation. And remember new money must be introduced into circulation as the population and economy grow or is improved, or we’d have deflation.

    2) How can we trust government with the power to create money? – Won’t they go wild (and again cause inflation)? Don’t you know that government can’t do anything right?
    Two Points:
    A. The U.S. Constitution binds government to represent the interests of the American people – “to promote the General Welfare” and empowers our Federal Government to create, issue and regulate our money (Article I, Section 8, Clause 5). We must hold our officeholders responsible to the laws. Do you want us to deny the Constitution? In favor of who? Enron? Bear Stearns? J.P. Morgan? Goldman Sachs? Lehman Brothers? Please get real! Our choice is to let those pirates continue to control our money system or to intelligently constitute the MONEY POWER within our government.

    Under the American Monetary Act, the Congress, the President and the Board of the Monetary Authority will all be responsible if any inflation or deflation takes place, and the people will know that they are responsible. They are specifically directed to avoid policies that are either inflationary or deflationary.

    Do you really trust the “ENRONS” to dominate our money? Look how they have abused that power! And Yes Damn it! Enron was on the Board of the Dallas Federal Reserve Bank!

    B. Finally and most importantly, an examination of history, despite the current prejudice and massive propaganda waged against government, shows that government control of money has a far superior historical record to private control over money systems. See the AMA brochure, and the LSM, Chapter 16. History shows that government has a far superior record in controlling the money system than private money creators have. And Yes, that includes the Continental Currency, The Greenbacks, and even the German hyperinflation; which by the way took place under a completely privatized German central bank! The German hyperinflation is really an example of a private money disaster.

    The Lost Science of Money book, chapter 12, uncovers the beginnings of the attack on government and found it started with Adam Smith himself in an attempt to block moves to take back the monetary power from the then private Bank of England, and put it back into government, which had done a good job in monarchical management of the money system, with only one exception under Henry VIII.

    3) Why should we give the government even more power?
    Because our money system belongs to society as a whole. It is too important to trust to unrepresentative and unaccountable private hands, preoccupied with private gain, with little regard for the detrimental consequences of their actions on the country, and outside our system of checks and balances. Just look what they have done!

    4) How can we prevent government from abusing its power once it can create money directly?
    The same way we prevent it from abusing any power, by upholding the rule of law and by participating in democratic political processes; and through reasonable structural limits.

    5) Should we let private banks keep some part of the money creation privilege?
    Absolutely not! History shows that the private interests, if given any privileged power over money, eventually undermine the public interest, and take over the whole thing. We know this from historical case studies in at least 4 major historical situations – the U.S. “Greenbacks”, The nationalization of the Bank of England, and the Canadian and New Zealand monetary experience. Anyone who proposes allowing the banks to keep any part of the power to create money are either ignorant of monetary history or are shilling for the banks.

    Under the American Monetary Act we do have the best of both worlds. We keep the benefits of having the professionalism and expertise of a competitive banking system in the private sector, but we take away the dangers of having them dominate our monetary and public policies with their narrow short term profit focus, by removing their privilege to create money. Ultimately this is a question of morality. No such special privileges can be allowed to particular groups; especially the monetary privilege, which confers power and wealth on them at the expense of the rest of society.

    6) Well then, should we nationalize all the banking business?
    What kind of “Kool Aid” are you drinking and who gave it to you? The banking business is obviously not a proper function of government; but providing, controlling and overseeing the monetary system is definitely a function of government. No private party can do that properly. Markets have utterly failed to do that. They have concentrated wealth, have harmed the average American and now broken down entirely, except for assistance from our government. Who would keep money in banks today, except for the FDIC guarantees?

    But banks should remain privately owned, because when reasonably structured, they perform very necessary functions, and can do it professionally and conveniently. Who within government would run the banking business? Bankers however, have nothing in their training, experience or their souls that qualifies them as masters of the universe – to control our society as the money power confers upon them.

    Banks should act as intermediaries for their clients who want to get a return on a deposit or similar investment; and their clients who are willing to pay for the use of that money. But banks must not create the money. The money system belongs to the Nation and our Federal Government must be the only entity with the power to issue and regulate our money as the U.S. Constitution already mandates. We nationalize the monetary system, but don’t nationalize the individual banks. That would be a dangerous step towards fascism. Private enterprise is a powerful mechanism that can produce excellent results when properly structured and regulated. That is an important American “theme!” The AMA does not throw out the baby with the bathwater! But it most certainly gets rid of the bathwater, which is private money creation. That acts like a private tax on the rest of us!

    We regard such nationalization proposals (nationalize all banking) either as an inability to understand the difference between nationalizing the money system and nationalizing the private banking business, OR as possibly attempts to actually block proper monetary reform, because you’d have to change the essence of America in order to do it. So it distracts from real reform. The AMA reform that we advocate actually puts into place the system that most people think we have now! People think our money is provided by government. They erroneously believe that the Federal Reserve is already a part of our government. They think the banks are lending money which has been deposited with them, not that they are creating that money when they make loans. Under the AMA many of those things people already believe about money and banking actually become true! It’s a natural fit with already existing attitudes.

    7) Doesn’t your AMA proposal merely continue with a fiat money system?
    Shouldn’t we be using gold and silver instead? Wouldn’t that provide a more stable money?

    Our system is absolutely a fiat money system. But that’s a good thing, not a bad one. In reaction to the many problems caused by our privatized fiat money system over the decades, many Americans have blamed fiat money for our troubles, and they support using valuable commodities for money.

    But Folks! The problem is not fiat money, because all advanced money is a fiat of the Law! The problem is privately issued fiat money. Then that is like a private tax on all of us imposed by those with the privilege to privately issue fiat money. Private fiat money must now stop forever!

    Aristotle gave us the science of money in the 4th century B.C. which he summarized as: “Money exists not by nature but by law!” So Aristotle accurately defines money as a legal fiat.

    As for gold, most systems pretending to be gold systems have been frauds which never had the gold to back up their promises. And remember if you are still in a stage of trading things (such as gold) for other things, you are still operating in some form of barter system, not a real money system, and therefore not having the potential advantages as are available through the American Monetary Act!

    And finally as regards gold and silver: Please do not confuse a good investment with a good money system. From time to time gold and silver are good investments. However you want very different results from an investment than you want from a money. Obviously you want an investment to go up and keep going up. But you want money to remain fairly stable. Rising money would mean that you’d end up paying your debts in much more valuable money. For example the mortgage on your house would keep rising if the value of money kept rising.

    Also, contrary to prevailing prejudice, gold and silver have both been very volatile and not stable at all. Just check out the long term gold chart.

    8 ) How can a bank lend money if they have to keep 100% reserves?
    The 100% reserve provision applies only to checking accounts. This question results from economists classifying our AMA as a “100% reserve” plan, as the Chicago Plan was known. But our plan fundamentally reforms the private credit system, replacing it with a government money system. The accounting rules are changed.
    Banks will be encouraged to continue their loan activities by lending money that has been deposited with them in savings and time deposit accounts; or lending their capital that has been invested with them. It is in the checking account departments that the banks presently create money when they make loans in a fractional reserve system. This will be stopped by new bank accounting rules. Making loans from savings account is a different matter, because real money, not credit will have been transfered into such accounts, and loaning that out does not create new money or give the bank any seigniorage, that belongs to our society. Some money loaned out of a savings type account might later get redeposited into another savings account and again be reloaned, but its the same money, not any newly created money, and will reflect that way on the bank’s books. This is sufficient to solve the problem of banks creating “purchasing media” by loaning their credit which then functions as money in the present system. (for details see the wording on pages 8, 9, and 14 of the American Monetary Act at http://www.monetary.org/amacolorpamphlet.pdf)

    Various types of accounts will have differing requirements: e.g. matching time deposits to loan durations, lessening the “borrowing short term and lending long term” problem. Money market and mutual fund type accounts can be very flexible. The principle applied will be to encourage good intermediation of money between clients who want a return on their money and those willing to pay for using it; but will prohibit money creation. Checking accounts will become a warehousing service, for which fees are charged. Good accountancy can achieve these results. (Please see # 9 below for more info on the many sources of money for these accounts.)

    9) If banks are no longer allowed to create money, where will banks get enough money to fill client’s needs for money under the American Monetary Act?
    We devote substantial space to this question because economists so used to confusing credit and money have to get used to the idea of money instead of credit. Usually they want to know how the AMA creates money within the present bank accounting framework. Well it does not! The AMA will change the accounting rules to deal with money not credit.

    There will be several substantial sources of money for banks to satisfy their clients money needs:

    a) Title III of the AMA converts through an accounting procedure, the existing credit the banks have circulated through loans (about $6 to 7 trillion, roughly the existing “money” supply) into US money, no longer bank credit. That process will indebt the banks to the government for the amount converted over and above their capital. At present when bank loans are repaid to the banks by their customers, those credits/debts go out of circulation/out of existence and the credit money supply contracts as loans are repaid, until they make new loans. But under the American Monetary Act, since it’s now money, those monies will not go out of circulation the way the credits did. They are repaid to the government in satisfaction of the debt the banks incurred in converting them from credit to money. That goes into a pool which can be used by Congress for the items in Title V of the AMA (as described on pages 8 and 9), or it can even be re-lent to the banks at an adjusted interest rate. Note: this action de-leverages the banks, but does not reduce the money supply.

    b) Probably the most important source of funds for bank lending will be the continuing government expenditures, over and above tax receipts, such as social security and other payments by government on the items in Title V of the American Monetary Act. Also the engineers tell us that $2.2 trillion is now necessary to make our infrastructure safe over the next 5 years. That’s $440 billion new money per year. Also the health care and education provisions, and grants to states in Title V can be introduced as new money. ALL these will eventually be deposited into various types of bank accounts where provisions of the Act will allow this money to be lent or invested. The banks will be lending and placing this money that has been deposited with them; not lending credit they create, masquerading as money. They will have to compete to attract such deposits from citizens and companies.

    c) Title II of the AMA specifies the repayment of US instruments of indebtedness (bonds/notes/etc). Instead of being rolled over as at present, new US monies will be paid to the bondholders as they become due. Those people/institutions will be looking for places to invest that money. One place would be in bank stock, which is a source of lending funds for banks. Of the $5 to 7 trillion in US bonds and notes privately held, about 3.5 trillion is due within 1 to 5 years; .72 trillion is due in 5 to 10 years; .35 trillion is due in 10 to 20 years. All these amounts will represent newly created US money and will eventually find their way to becoming new lend-able or investable bank deposits and even investments in banks.

    d) Finally the AMA does not allow the banks to decide their own leverage situations. The Act essentially eliminates most leverage from the banking system in a healthy, non deflationary way. That will be good. They will no longer be able to pretend they were “banking” when they made bad loans overextending their positions and creating bubbles, in order to grab huge bonuses on imaginary profits. In other words banks will no longer be able to make loans in a bubble creation process. That will be a big improvement!

    10) How will the U.S. Treasury create the money?”
    The same way the Federal Reserve does now, as simple account entries, but as income, without the accompanying debt obligations. It’s described in the AMA, Sec. 103 NEGATIVE FUND BALANCES: The Secretary of the Treasury shall directly issue United States Money to account for any differences between Government appropriations authorized by Congress under law and available Government receipts.

    11) Is there any chance the AMA could eliminate the federal income tax?
    It “could,” and though that’s not likely in the near future, it is the direction the AMA goes in. Thanks to the immense savings our government will experience through control over its money system, taxation should decline substantially for middle and lower income groups. It should be raised for the super rich.
    In addition the AMA should directly lead to substantial reductions in interest rates, because as the US pays off its national debt in money rather than rolling it over, those receiving those payments will be looking for places to loan and invest those funds. Interest rates should drop substantially.

    12) Why does the American Monetary Act have an 8% maximum interest rate, including all fees?
    Because before 1980/1981, forty nine States had “anti-usury” laws which limited normal interest rates to a maximum of between 6% and 10% p.a. (one state had 12%). The American Monetary Act takes the middle of this range to represent a restoration of the interest rate limits prevailing across the country prior to 1980/1981. See page 9 of the AMA.

    13) Won’t you be breaking the sanctity of contracts when you convert the existing bank credit already in circulation, into U.S. Money?
    No. First of all a contract requires understanding of the terms by all parties to it, and that certainly did not exist. But more likely it will be viewed as very acceptable by the banks, considering the security it confers on banking, especially when the alternative is going broke. There would be no reason to extend the legal tender privilege (acceptance for taxes) to the credits of any disagreeing banks.

    14) How would the ACT affect our position with China?
    The ACT would have a number of positive effects on Chinese – American Trade. Particularly it would encourage the Chinese to use more of their dollar earnings to really trade with us rather than just sell to us, and then invest their earnings in US bonds as at present. More details forthcoming!

    15) What about other countries, and international systems such as the IMF (International Monetary Fund) and the BIS (Bank for International Settlements)?
    We’d expect other countries to follow quickly in our footsteps to each obtain the advantages of issuing their own national monies. The United Nations is already putting forward suggestions that member states shift now to nationally created, debt free; interest free moneys. They are way ahead of the US Congress just now. A much reformed IMF, already organized under United Nations Article 57; #3, will see a greatly expanded role for the SDR and more responsibility for international accounts clearing as well as real assistance to member states, rather than acting as a destructive collection agent for the big banks. The role and importance of the BIS should be rapidly reduced, and perhaps eliminated. Just look at the mess created under their guidance and rules. Some job they did!

    16) The latest craze “question” making the rounds in the organized disinformation campaign that is attacking our national psychology, is not a question at all, but a vicious assertion:

    “Government is so corrupt and so much in the hands of the worst people and they won’t ever let you do this reform! Or any good thing”

    This popped up simultaneously from LA to Seattle. I’ve told friends to put that stupidity out of their minds. This assertion, designed to discourage, is a variant of the Sun Tzu method of winning the battle by convincing the opposition not to fight because they can’t win. It reminds me of the cyborg “Borg Wars” line “Resistance is futile” from the Star Trek New Generation series. Don’t fall for it!

    As our people suffer more deeply from the unfortunate monetary/banking system, any remaining bad elements in government can and must be cleansed. That’s what we’ll do instead of whining about it. Become a part of the solution not a cry-baby! Get up and fight for your family and nation!

    “Put a stone in your stomach!” is an old phrase of Zulu warriors when summoning courage. Earlier tonight I saw an electric message on a local banks billboard:

    “If you think you can, you can. If you think you can’t, you can’t!”
    Yeah! We never said all bankers are evil, but there’s a very bad controlling element among them.

    17) Why didn’t nationalized money systems work in the former Soviet countries?
    Because their monetary systems were still controlled from within their banking systems, using the same faulty methods. The 1966 Federal Reserve publication Money, Banking, and Credit in Eastern Europe states:
    “In the communist countries, money is created in the same way as in capitalist countries – through the extension of bank credit. This fact is not generally recognized or accepted in the various countries of Eastern Europe. The result is that a good deal of confusion emerges from their economic literature with regard to the nature of money and the role of the monetary process and the function of the banking system.… Since Marx identified money with gold, the official theory holds paper money to be merely a substitute for gold and ignores deposit money.” (p. 42-43)

    Sound familiar? Their politicians and economists were as dumb as ours!

    18) Won’t we get hyper-inflation like Zimbabwe?
    No. For governments or anyone to issue money, there has to be a functioning society with enough rule of law and physical and social infrastructure to support the creation of values for living. Zimbabwe unfortunately does not have those pre-requisites; thus their society is falling apart.

    19) Should we have the individual 50 states own banks? Like North Dakota?
    More Kool-Aid and distractions…Look folks the objective is to get the banks out of the Money creation field, not to get the government into banking!! A highly distracting idea that does not in any way accomplish any necessary reform! Instead it gives our fraudulent banking system a moral free pass! It is mind boggling that progressive people fall for this. (see the home page for an in depth article by Jamie Walton on this)

    20) How about local currencies?
    Local currency movements can help people to understand the money problem but it would be an illusion to think that local currencies would stop a mismanaged, unjust national system from unfairly concentrating wealth; from being a motivating factor for warfare; from financing harmful polluting activities even when saner alternatives exist. Understand also that a national currency properly placed under governmental control gives much greater local control than the present national currency under private control, because locally, our voting power can exert influence on national policy.

    And remember the principle of subsidiarity put forward by E.F. Schumacher. His slogan was not “small is beautiful.” What E.F. Shumacher actually said is what the AMI is saying: Use an “Appropriate scale”- do things on an appropriate scale. That dominant scale in the currency area is national and will continue to be for the foreseeable future. The appropriateness of acting on the national level must be recognized.


    Also, it is the only way to have money enough to fix the terrible dangers to us all of Fukushima and abrupt climate change.

    • Carl Herman

      Thanks, Bev! I’m friends with Stephen Zarlenga and Michael Hudson. Although Stephen disagrees with public banks creating credit rather than money, I see two at least temporary advantages:

      1. We can educate literally thousands of state legislators to how our debt-based so-called monetary system works. This can be powerful allies motivated by opportunity to use existing banking practices to address their states’ problems. Understanding how a state can reform credit creates a small step to seeing monetary reform.

      2. People might find more powerful access and action at the state level, or county, or city for this education and policy rather than the national level.

      In the long-term, I recommend professional, multiple, and independent cost-benefit analyses to get better understanding of optimal public benefits with creating money and/or credit. Remember, Ben Franklin wrote of operating Pennsylvania nearly tax-free with state-issued credit only.

  • Bev

    Fukushima–long term professional, multiple, independent cost-benefit analyses to understand optimal public benefits with money and/or debt–

    We don’t have long term to bet on the public benefits of preventing an extinction level event.



    Debt: The First 5,000 Years
    by David Graeber


    News from Underground: The Future of the Occupation



    And, ask Dennis Kucinich how fast and efficient Public money would be to fix such dangerous problems to us all.

    • Carl Herman

      Bev! Please don’t strawman my points. Fukushima is a disaster not addressed, and not at all this topic. Since you ask, what do you recommend we do while Dennis’ bill is shut-out from consideration in committee?

      My proposal is to unleash interested citizens to educate local and state legislators of what they can do now. Do you recognize the irony in doing nothing while waiting on a Congress that failed on this issue for over 200 years?

      Educated people with how banking works is easier to take to the next step with monetary reform. If you disagree, that’s fine, so does Stephen Zarlenga.

      • Bev

        No strawman…No radioactive man either.

        If the following is true:


        The Top Short-Term Threat to Humanity: The Fuel Pools of Fukushima

        Posted on April 7, 2012 by WashingtonsBlog

        The Greatest Single Threat to Humanity: Fuel Pool Number 4

        We noted days after the Japanese earthquake that the biggest threat was from the spent fuel rods in the fuel pool at Fukushima unit number 4, and not from the reactors themselves. See this and this.

        We noted in February:

        Scientists say that there is a 70% chance of a magnitude 7.0 earthquake hitting Fukushima this year, and a 98% chance within the next 3 years.

        Given that nuclear expert Arnie Gundersen says that an earthquake of 7.0 or larger could cause the entire fuel pool structure collapse, it is urgent that everything humanly possible is done to stabilize the structure housing the fuel pools at reactor number 4.


        And, if this is also true:


        Senator: Fukushima Fuel Pool Is a National Security Issue for AMERICA

        Posted on May 6, 2012 by WashingtonsBlog


        Boils Down to Money

        Of course, it all boils down to money … just like every other crisis the world faces today.


        Short of closing plants, there is a fairly reliable solution to the problem of spent fuel rods. It is called “dry cask storage.”


        But there is a problem with dry cask storage: it costs money….


        Then, how to get the money to fix this problem is very related to the future of Money which would affect our own future.

        The scale of state banks is the wrong scale to fix Fukushima and state banks keep money as DEBT.

        So, how to convince you that I am not trying to win or lose an argument for arguments sake, and, encourage you to promote the best, quickest solution for the biggest threat to humanity with public money that is not debt.

        I would hope that the west coast politicians would consult with Dennis Kucinich about how this could work. And, if the two parties can’t bring themselves to Public Money, then perhaps the Green Party and/or Rocky Anderson could select Kucinich as V.P. to give voters needed information about a workable way to solve this problem.

        And, you too.

        • Carl Herman

          Ok, Bev. Regarding monetary and credit reform, I’ll work both policy tracks at once for the reasons I stated. Thank you for your self-expression as you see best 🙂

  • gozounlimited

    Immortal Technique [wants to tell you about it] ……. Wake Up!
    see video: http://www.youtube.com/watch?v=UmNV8_VBGX0&feature=related

  • Bev

    We need a public/government money, lots of it, that is debt-free so that we can safely fix the serious dangers we face with Fukushima. See the bill which needs to be re-introduced in Congress fast: HR 2990, http://www.monetary.org/wp-content/uploads/2013/01/HR-2990.pdf produced by The American Monetary Institute at monetary.org and former Rep. Dennis Kucinich and backed by Rep. John Conyers.

    I want to ask you to interview Arnie Gundersen, Rep. John Conyers and former Rep. Dennis Kucinich about solving the problem of Fukushima. Quoting Harvey Wasserman: “We are now within two months of what may be humankind’s most dangerous moment since the Cuban Missile Crisis.Fukushima’s badly damaged Unit 4. There is no excuse for not acting. All the resources our species can muster must be focused on the fuel pool at Fukushima Unit 4.”

    Arnie Gundersen’s website: http://fairewinds.com/
    An Arnie Gundersen interview. Start at 24:30 to hear Arnie Gundersen a nuclear engineer, a licensed reactor operator, holder of a nuclear safety patent, and former nuclear industry senior vice president:


    Olympic Insanity + If Gundersen were in Charge at Fukushima

    Libbe HaLevy from Nuclear Hotseat radio interviewed Arnie Gundersen about the current state of problems at Fukushima Daiichi and asks what he would do if he were in charge of the disaster site.

    Harvey Wasserman references Arnie Gundersen and makes strong demands for safety. See:
    http://www.commondreams.org/view/2013/09/20-1 by Common Dreams

    The Crisis at Fukushima’s Unit 4 Demands a Global Take-Over
    by Harvey Wasserman

    We are now within two months of what may be humankind’s most dangerous moment since the Cuban Missile Crisis.Fukushima’s badly damaged Unit 4.

    There is no excuse for not acting. All the resources our species can muster must be focused on the fuel pool at Fukushima Unit 4.

    Fukushima’s owner, Tokyo Electric (Tepco), says that within as few as 60 days it may begin trying to remove more than 1300 spent fuel rods from a badly damaged pool perched 100 feet in the air. The pool rests on a badly damaged building that is tilting, sinking and could easily come down in the next earthquake, if not on its own.

    Some 400 tons of fuel in that pool could spew out more than 15,000 times as much radiation as was released at Hiroshima.

    The one thing certain about this crisis is that Tepco does not have the scientific, engineering or financial resources to handle it. Nor does the Japanese government. The situation demands a coordinated worldwide effort of the best scientists and engineers our species can muster.

    Why is this so serious?

    We already know that thousands of tons of heavily contaminated water are pouring through the Fukushima site, carrying a devil’s brew of long-lived poisonous isotopes into the Pacific. Tuna irradiated with fallout traceable to Fukushima have already been caught off the coast of California. We can expect far worse.

    Tepco continues to pour more water onto the proximate site of three melted reactor cores it must somehow keep cool. Steam plumes indicate fission may still be going on somewhere underground. But nobody knows exactly where those cores actually are.

    Much of that irradiated water now sits in roughly a thousand huge but fragile tanks that have been quickly assembled and strewn around the site. Many are already leaking. All could shatter in the next earthquake, releasing thousands of tons of permanent poisons into the Pacific. (Note: A relatively small earthquake struck Fukushima prefecture on Thursday, an indication of the inevitable occurrence of larger future ones in the area.)

    The water flowing through the site is also undermining the remnant structures at Fukushima, including the one supporting the fuel pool at Unit Four.

    More than 6,000 fuel assemblies now sit in a common pool just 50 meters from Unit Four. Some contain plutonium. The pool has no containment over it. It’s vulnerable to loss of coolant, the collapse of a nearby building, another earthquake, another tsunami and more.

    Overall, more than 11,000 fuel assemblies are scattered around the Fukushima site. According to long-time expert and former Department of Energy official Robert Alvarez, there is more than 85 times as much lethal cesium on site as was released at Chernobyl.

    Radioactive hot spots continue to be found around Japan. There are indications of heightened rates of thyroid damage among local children.

    The immediate bottom line is that those fuel rods must somehow come safely out of the Unit Four fuel pool as soon as possible.

    Just prior to the 2011 earthquake and tsunami that shattered the Fukushima site, the core of Unit Four was removed for routine maintenance and refueling. Like some two dozen reactors in the US and too many more around the world, the General Electric-designed pool into which that core now sits is 100 feet in the air.

    Spent fuel must somehow be kept under water. It’s clad in zirconium alloy which will spontaneously ignite when exposed to air. Long used in flash bulbs for cameras, zirconium burns with an extremely bright hot flame.

    Each uncovered rod emits enough radiation to kill someone standing nearby in a matter of minutes. A conflagration could force all personnel to flee the site and render electronic machinery unworkable.

    According to Arnie Gundersen, a nuclear engineer with forty years in an industry for which he once manufactured fuel rods, the ones in the Unit 4 core are bent, damaged and embrittled to the point of crumbling. Cameras have shown troubling quantities of debris in the fuel pool, which itself is damaged.

    The engineering and scientific barriers to emptying the Unit Four fuel pool are unique and daunting, says Gundersen. But it must be done to 100% perfection.

    Should the attempt fail, the rods could be exposed to air and catch fire, releasing horrific quantities of radiation into the atmosphere. The pool could come crashing to the ground, dumping the rods together into a pile that could fission and possibly explode. The resulting radioactive cloud would threaten the health and safety of all us.

    Chernobyl’s first 1986 fallout reached California within ten days. Fukushima’s in 2011 arrived in less than a week. A new fuel fire at Unit 4 would pour out a continuous stream of lethal radioactive poisons for centuries.

    Former Ambassador Mitsuhei Murata says full-scale releases from Fukushima “would destroy the world environment and our civilization. This is not rocket science, nor does it connect to the pugilistic debate over nuclear power plants. This is an issue of human survival.”

    Neither Tokyo Electric nor the government of Japan can go this alone. There is no excuse for deploying anything less than a coordinated team of the planet’s best scientists and engineers.

    We have two months or less to act.

    For now, we are petitioning the United Nations and President Obama to mobilize the global scientific and engineering community to take charge at Fukushima and the job of moving these fuel rods to safety.

    If you have a better idea, please follow it. But do something and do it now.

    The clock is ticking. The hand of global nuclear disaster is painfully close to midnight.

    This work is licensed under a Creative Commons Attribution-Share Alike 3.0 License

    Harvey Wasserman


    Arnie Gunderson on a visit to Japan was told that Japan does not have the money to fix the problem the correct, safest way. This is a world problem, not just Japan’s. We all need to help.

    In order to have the public/government Debt-free, Interest-free money to fix Fukushima, I think the American Monetary Institute has the best solution. The site is at http://www.monetary.org/ and is headed by Stephen Zarlenga, Director, along with former U.S. Representative Dennis Kucinich. A past supporter is current U.S. Representative John Conyers. This topic should be foremost to the politicians most affected: U.S. Senators from California, Oregon and Washington need to be interviewed, called, emailed, visited about a congressional bill that provides enough funding with a simple accounting change which needs to be re-introduced before the end of the next 2 months, HR 2990, see: http://www.monetary.org/wp-content/uploads/2013/01/HR-2990.pdf

    And, a similar bill should be passed in Japan.

    Speakers at the just finished 9th American Monetary Institute conference who would work to get the public money needed in the U.S. and Japan to fix Fukushima and save all of our lives and life on this planet. See:

    American Monetary Institute
    PO BOX 601
    VALATIE, NY 12184

    or 224-805-2200

    The American Monetary Institute is pleased to announce its
    9th Annual AMI Monetary Reform Conference
    September 19-22, 2013, at University Center, Chicago

    The American Monetary Institute proudly announces its 9th annual Monetary Reform Conference in Chicago. Our conferences launched the modern grass roots movement for U.S. monetary reform and thereby World reform. You are invited to attend this important meeting in beautiful downtown Chicago. Our money system clearly needs a serious overhaul to secure economic justice, peace and prosperity as we enter the third millennium. True reform, not mere regulation, is necessary to move humanity away from a World dominated by fraud, warfare and ugliness and toward a world of justice and beauty. You can avoid discouragement and join with us in this adventure to achieve positive money results for America and the world.

    Don’t be discouraged because the villians who created the present crisis, have manipulated governments to bail them out. The media, which has made such “errors” possible, and the economic theories behind banker activities already stand accused in the public mind.

    Main Themes of the Conference: Implementing Monetary Reform now!

    The Monetary Reforms
    The main focus of the conference will be for researchers to describe and make the case for the kind of monetary reforms advocated, presenting both the logical and historical basis for them, and the mechanics of implementing them. Extensive question and answer periods and panel discussions can air doubts or concerns regarding the desirability of the reforms and suggest refinements. Included will be discussions of research and thinking methodology.

    Achieving the Reforms – What we can do now
    Selected political, social and monetary activists will give the benefit of their experience in educating, raising public awareness, organizing and motivating people and governmental bodies to influence public policy decisions.

    Using the Reforms
    Presentations on how a properly reconstituted money power within government will be effectively used to “promote the general welfare”. These will focus on Infrastructure Programs particularly how to pay for the $2.2 trillion the American Society of Civil Engineers tells us is needed to maintain our infrastructure over the next 5 years, through monetary reform. Understand that we include the “human infrastructure” of Health Care and Education within infrastructure! With proper monetary reform all these things become possible, including education and health, upgrading America’s crumbling infrastructure, towards futuristic energy efficient, eco-friendly designs well within the reach of today’s technology and economy. We can create hospitable, clean, cities of the future using 21st century solutions.

    Confirmed Speakers for 2013

    Prof. Joseph Huber from Martin-Luther University of Halle-Wittenberg in Germany, one of Europe’s most important monetary reformers, will analyze Modern Money Theory and the associated views on money, credit, and debt.

    Dr. Michael Kumhof, Deputy Division Chief of the Modeling Division, Research Department, IMF, will present his findings when applying the Chicago Plan, basis of HR 2990, to today’s economy using computer modeling techniques.

    Prof. Kaoru Yamaguchi will give an outstanding analysis of HR 2990, placing it through his advanced systems analysis software, determining it would pay off the US national debt and provide the necessary funding for infrastructure (solving the unemployment problem) and do it without inflation.

    Prof. Steve Keen, advanced Australian banking and monetary investigator, author of the important book “Debunking Economics,” which can begin leading the way out of the economic morass which economics has undeniably created around the world.

    Prof. Richard Werner has emerged as the central figure advising monetary authorities of the European money system to cease their destructive austerity programs, and he will discuss his involvement with this issue.

    Prof. Nic Tideman of Virginia Tech (formerly Senior Economist on the President’s Council of Economic Advisors) discusses how banks will compete after monetary reforms are in place.

    Prof. Michael Hudson, UMKC professor and PBS commentator and one of the rare economists to accurately forecast the mortgage and housing debacle – in a front page Harper’s Magazine article – will share his latest important observations on what the banking establishment is up to now.

    Stephen Zarlenga is Director of the American Monetary Institute and author of The Lost Science of Money. He will highlight the progress at AMI, and the direction of monetary reform in America.

    Jamie Walton, a knowledgeable money reformer from New Zealand, describes HR 2990 and why all three elements must be put into effect. He works on monetary legislation in Washington DC.

    Robert Poteat, long term and meticulous monetary researcher, is certainly among the top half dozen in America in awareness of monetary systems. He is the leader of the AMI Chapters in Portland, Seattle and Central Washington. Previously he has discussed why monetary reform is largely a moral question.

    Joseph Pijanowski, the Directing Business Representative of the International Association of Machinists and Aerospace Workers Union, Local 126, focuses on the monetary solution to American labor problems our country faces.

    Mark Pash is a Certified Financial Planner with a Bachelors and Masters in Business Administration, from UCLA and USC respectively. He will review his 24 reasons for monetary reform and the 13 ways to overcome the inflationary objection.

    Andrew Jackson is currently Head of Research at Positive Money in the UK. He will discuss Positive Money’s strategy for progressing the monetary reform agenda in the UK, before showing how this links into his latest research, a proposal to combine monetary and fiscal policy which will allow the state to create and spend money into circulation.

    Greg Coleridge, Director of the Northeast Ohio American Friends Service Committee. He is on the National Steering Committee of the Move to Amend/Campaign to Legalize Democracy Program on Corporations, Law & Democracy (POCLAD) national collective.

    Steven Walsh, leading Chicago educator and expert authority on New England Colonial moneys, will describe how banks create money out of thin air.

    Joe Bongiovanni

    This would be the way to have the money to solve Fukushima. Then afterwards, still having the money available from a Debt-free, Interest-free public/government money would turn this economy around fast and create jobs to solve many other pressing problems. Money would continue to do good works by permanently circulating unlike Debt money which is extinguished from existence once paid back as payments on banks loans. We can never get out of debt when our money is debt. And, we have done this six times in our past with brave Presidents like Washington, Lincoln and Kennedy. It is tried and true. Support and Protect all politicians who would do this beneficial monetary change for all of us. And, support those politicians who would fix Fukushima safely for all of us.


    Do not shut down government. It is our only way to solve this deadly problem for all of our sakes. If you shut down government it would prove that you do not intend to solve the problem of Fukushima and must have a cave to run to. That is not acceptable.

    For the common good cooperation, information, and best practices in money and engineering would result in survival for life. This is urgent, this is our goal for us all to survive.