Essential Knowledge for Transition: Money and Banking System

Date: 
Wednesday, March 19, 2014 - 11:00am - 12:15pm

 

Essential Knowledge for Transition

knowledge > empowering > change

 

The second in a 3-part series of teleseminars on economic transformation by Marco Vangelisti.

Money and Banking system

Currently, the money and banking systems are conflated (money is mostly created as debt by the banking system) and by their very design they demand continuous economic growth and an ever expanding level of debt (public and private). There is very little understanding in the general public about what money is, how it is created and how the banking system operates. Only a fundamental shift in the design of the monetary and banking systems will allow for a viable way of addressing increasing inequality, the mounting problem of public and private debt and make possible a shift towards a sustainable steady-state economy that works for everybody and is compatible with environmental stewardship.

About Marco Vangelisti

Marco came to the US from Italy as a Fulbright scholar in mathematics and economics at the University of California in Berkeley. After a stint in the financial industry, Marco worked as visual artist on a full-time basis for 5 years and obtained a MFA focusing on the intersection between public art and ecology. He later worked for 6 years for Grantham, Mayo, Van Otterloo & Co. LLC ("GMO"), managing investment equity portfolios primarily on behalf of large foundations and endowments.

In April 2009 Marco left the finance industry and has since been instrumental in the formation and development of the Slow Money Northern Californiachapter where he currently leads the investor working group. Marco is currently developing Essential Knowledge for Transition- a curriculum for engaged citizens to understand the money and banking system, the economic system and the financial system and how we need to transform them.  Marco is also helping communities increase their capacity for local investing.

Website:              www.ek4t.com

Facebook:           www.facebook.com/EssentialKnowledge4Transition

Essential Knowledge for Transition provides an understanding of the large systems that affect our lives and communities: the monetary and banking system, the economic system and the financial system. Such understanding is a prerequisite to transforming them in a way that allows the emerging of a socially just, environmentally sound and compassionate society.

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