ECONOMICS WG MEETING. ‘SAVAGE MONEY’ BY ANDY CONIO.
I have been asked to speak again to my paper on Debt ‘Savage Money’ this Friday.
I’m very happy to discuss the issues raised in more detail. Will you please read the paper and come with questions and answers so that we can answer the problems posed by the paper together. None of us have all the answers but between us we do.
Will you please watch a brilliant short video – Postscript to on the Societies of control and this figures highly in the paper.
See you Friday 29th 5pm Friends Meeting house.
Deleuze’s Postscript on the Societies of Control
ECONOMICS WORKING GROUP DISCUSSION. DEBT: ‘SAVAGE MONEY’
EWG Minutes 30/11/2013
by Jonathan C.
Under discussion was a return to Andy Conio’s paper ‘Savage Money’
We returned to Andy Conio’s paper in progress, ‘Savage Money’, an investigation into the essence of money at a higher level of abstraction.
Andy gave an overview, arguing, amongst other things:
Neoliberal capture and debt is shifting the economy from a system of mere profit to one of de facto rent extraction, perhaps a return to the original function of money at its conception (ameans for extracting tribute from vassals and subjects.
Money can be both facilitative tool but also a tool for debt-based subjugation. These two sides of the coin can be termed ‘exchange money’ and ‘credit money’
Exchange money allows users a certain kind of freedom as an anonymous actor in the marketplace, perhaps even freeing us from certain social and community dogmas, although this is also arguably alienation.
Credit money gives power to a vampiric financial sector, dominated at the top by a few thousand extremely powerful individuals. The banks’ power to create money forces society to go to them (as supplicants?) This distorts the market in favour of the needs of the banking system, which has no regard for extrinsic factors, such as the mutuality of human existence, the environment etc.
Projects such as Positive Money and alternative currency movements (e.g. Letts) are engaged in tasks that are perhaps even more critical and transformative than even they realise.
Other contributions to the discussion included:
Reverend Steve: Introduced us to the Moderation movement
Steve: We need to reconstruct the notion of what a human being is.
Tim: Queries ‘trade’ as the origin of human thought, too limited, role of music
John: ‘Money is what money does’ is a good way of simplifying the problem
Omar: Money is mere paper and yet it has so much power…
Vica: Growing volume of alternative means of mutuality outside of the money system.
Schlack: Thinkers such as Graeber are not sufficiently on the frontlines of the struggle
Janos: Money needs to be seen as a token of wealth.
In an after-discussion, some people thought we could have done more to welcome and integrate the 4 new people who turned up..