Monday, February 16, 2009

Regarding Nationalization of Banks

If by nationalizing the banks, we meant transferring all the existing equity into an account for the people and establishing an equity union then I would be for such a proposal, except remember that the equity in the Banks and the Corporate Capitalist Conglomerates are held internationally.

So it is really the "inter-nationalization" of the Banks AND the corporations that is in order. That is, the inter-national transfer of all equity to an equity pool to be held in trust for the people of the world, whose reallocation of assets would be administered by an Inter-national (I prefer worldround) Organization of Community Development EQUITY unions, whose mission would include peace, equity, humanity, quality of life, and sustainability, and whose strategy would be to implement a neighborhood/inter-community/inter-regional/ worldwide program of ecological economic planning and redevelopment.

All equity trading and credit could be outlawed. In other words, the whole planet would adopt Moslem law with respect to the concept of loan free finance.

See for an explanation of "riba"-free microfinance.

Mike Morin

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