We have discussed P2P alternatives several times here, and James Corbett has an excellent report on this emerging alternative worth sharing. ~Ron
Broc West • 04/05/2015
EDITOR’S NOTE: The following is a transcript of Episode 301 of The Corbett Report podcast, “Solutions: The Peer-to-Peer Economy.” It has been generously provided by an anonymous listener of The Corbett Report. For the mp3 audio of the podcast please CLICK HERE, or you can watch the vodcast in the player [Above]
Welcome back ladies and gentlemen welcome back to the Corbett Report I’m your host James Corbett corbettreport.com podcasting to you as always from the sunny climes of western Japan, here on the 27th day of March 2015.
Welcome to Episode 303 of the Corbett Report Podcast: Solutions: The Peer-to-Peer Economy.
Now I’m sure to my regular listeners and viewers, the problem at the root of our economic enslavement will be all too apparent. Centralized bureaucratic institutions of control in the back pockets of the oligarch that sit, vulture-like, atop the global economy.
SIMON LONGDEN: “If you’ve been paying attention to Europe for the last few years you will be aware of the IMF, the world’s financial parachute parent. The all-seeing, all-knowing and apparently bottomless pit of money, for when things in your country get a bit too riot-y.
Except some may argue that that isn’t really the case. Even a fleeting glance at a history book would seem to suggest that things tend to get rather a lot worse, once the IMF was rolled into town. Usually because rather than lending you the money to get you out of a tight spot, like a friend or family member might, they say “Sure, you can have the money, but as long as you do this list of very specific things”, which is a bit more like what a sugar daddy would do.”
(Source: Who is the IMF and did they cause a famine in Africa? – Truthloader | Time reference 0:54)
JAMES CORBETT: “Ask the people of Ethiopia if the IMF World Bank economic therapy of the 1990s worked in their nation’s favor. Ask them about the fire sale of state assets, public utilities, farms and factories, for pennies on the dollar to multinational corporations. Ask them how USAID helped to dump surplus genetically engineered crops that couldn’t be sold in Europe on poor African nations, as ‘charitable food aid’. The extent of the horrors inflicted on Ethiopia by the international financiers almost beggars description.
The banksters weren’t content to carve the country into pieces and sell the scraps to their big business cronies. They then had the audacity to steal the very food off the poor farmers tables, and replace it with GM Frankenfoods that the rest of the world wouldn’t even touch.
This is the real face of austerity.”
(Source: The Meaning of Austerity | Time reference 01:30)
JEFFREY BROWN: “As a government economic advisor, Gikas Hardouvelis helped negotiate some of the budget cuts and austerity measures that Greece agreed to, in order to get international bailouts. Now with the private Euro Bank, he says the swift fall, however necessary, is bringing pain at historic levels.
GIKAS HARDOUVELIS: By the end of 2014 Greece would have a worse depression than the great depression in the US.
JEFFREY BROWN: Worse than the great depression?
GIKAS HARDOUVELIS: Yes.”
Source: Under Austerity, Greeks Feel Unfolding Humanitarian Crisis | Time reference 02:21)
“Now to Ireland where tens of thousands marched in protest at the weekend over harsh austerity measures in response to the country’s financial meltdown. The collapse of a property bubble has seen unemployment reach double figures, and left Ireland with massive debt and a banking system on the verge of collapse. Despite the announcement of the European Union bailout worth more than one hundred billion dollars, there are growing calls for the Prime Minister to stand down.”
(Source: Ireland protest over harsh austerity measures | Time reference 02:48)
“The World Bank has confirmed plans to give Ukraine a two billion dollar finance package this year, reports Radio Free Europe. The loans are tied to introducing a series of reforms which Ukrainian Prime Minister, Yatsenyuk, says will be very difficult. Heating and public transport costs have already been hyped, hitting family budgets already suffering due to a slump in the currency, job cuts and high inflation.”
(Source: Finance For Ukraine: World Bank to loan Ukraine 2 billion USD, adding to existing IMF package | Time reference 03:16)
Yes sadly the problem is all too apparent, but never fear, the solution is also perfectly apparent and is being helpfully provided in an interesting narrative that’s spilling forth across the news feed in recent weeks: centralized bureaucratic institutions of control in the back pockets of the oligarchs that will sit vulture-like atop the global economy!
NATHAN KING: “China’s president along with the officials of 20 other Asian nations, from poverty-stricken Bangladesh to highly developed Singapore, all getting behind the Asian Infrastructure Investment Bank.
HUA CHUNYING (translated): When President Xi Jingping met with the representatives, he pointed out that the establishment of the Asian Infrastructure Investment Bank represents all parties hope, determination and action to work together for development. It’s also an innovative mechanism and will promote better global financial governance. It’s a very meaningful thing.”
(Source: 21 Asian nations on board for China-proposed regional investment bank | Time reference: 04:07)
“Three more European countries have announced that they will join the China-led Asian Infrastructure Development Bank, defying US pressure not to do so.
Last week Washington slammed a similar move by London, saying it’s concerned over, quote “the constant accommodation of China”. Beijing in turn called the American reaction “childish paranoia”.”
(Source: Germany, France and Italy join China’s Asian Infrastructure Investment Bank | Time reference: 04:39)
Speaking on Sunday at the opening of the China Development Forum in Beijing, IMF
Managing Director Christine Lagarde said the fund would be delighted to cooperate with the AAIB. She also welcomed Beijing’s efforts to boost investments outside China.
Also on Sunday, World Bank managing director Sri Mulyani Indrawati said they welcome the AIIB initiative and will closely cooperate with the China-proposed institution.
(Source: IMF, World Bank lend support to Asian Infrastructure Investment Bank (AIIB) | Time reference: 5:08)
“Former US Secretary of State Henry Kissinger has called for more cooperation between China and the United States. He made the remarks at the China Development Forum 2015 Economic Summit in Beijing on Saturday.
HENRY KISSINGER: … to talk about our ideas of a common future. But what is also crucial is that we do something together, that there are some joint American and Chinese project on which Chinese and Americans are working together.”
(Source: Henry Kissinger calls for more U.S.-China cooperation | Time reference: 05:39)
‘Oh no, China, please don’t throw us in the briar patch of your globalist institutions, it will completely destroy our age-old quest for global government. Oh, okay, I guess there’s nothing we can do about it. We’ll just have to go along and start cooperating with you and we’ll gradually merge our system with your system behind the scenes. But don’t pay attention to that; Henry Kissinger will take care of that, and everything will be alright. And, oh, I guess we’ll just have to give up on global government after all.’
Really? Really? Is this truly what people believe is going to be the savior of humanity? Unfortunately a lot of people will be tricked into this because the dialectic is extremely effective. You pit a thesis versus an antithesis – a synthesis emerges. If one globalist institution is competing with (or cooperating with) another globalist institution, you’re going to get global government as the end synthesis, inevitably. That is where we are being steered and we’re being asked to believe that this process is inevitable. How else could the global economy possibly be structured? How could it be run? How could it be governed if there weren’t these multilateral institutions in the back pockets of the oligarchs sitting atop them, sucking off the blood from them like vampires. There’s just no other way to do it.
Well I am going to offer a counter-narrative to that narrative today, but in order to do that I think we should take one element of that idea, that there is a certain inevitability to what is happening in the global economy, and actually agree with it. Because I think, when we look at the broad scope and sweep of history, we do see certain inevitabilities that arise, as a result of certain developments, often technological developments that take place. And one very apparent, very easily documentable example of that, from history, is what happened in England in the 18th century.
“In towns across England and the United States a series of extraordinary innovations would alter the way people lived and worked for the next one hundred and fifty years.
Inventors had found new ways to harness nature’s energy. They built new kinds of machines powered by water, steam and coal. The new machines replaced hand-powered tools. They did the same work only cheaper and faster. Much of the work was done outside the home in specially designed buildings – the first factories. Mechanization began in in the textile mills of England, where one machine, attached to a spinning wheel, could do the work of fifty people. Fuel, clothing and food all became more affordable. With the development of locomotives and steamboats, manufactured goods could now be sold halfway around the world. Families moved from the villages of their ancestors to new industrial towns. And a new class of people emerged – workers who produced goods.”
(Source: Turning Points in History – Industrial Revolution | Time reference 08:15)
The Industrial Revolution. So here we have a specific historical precedent for the phenomena that we’re documenting today, namely the idea that technological developments can lead to re-orderings of economic relations, and on top of that complete transformations of society.
There’s no doubt whatsoever that the Industrial Revolution completely changed the face of the globe, and not just eighteenth century England. But as it spread out it changed the way that we think about society, the way society is ordered in many, many, many, many aspects of our daily lives. And some of those changes were for the good, some of them were for the bad, but the interesting part is that right now, through a series of technological developments that have really started to come to the fore in the past few decades, or even the past decade, we are now reordering those relations by rendering the technology, the machinery, the industrial processes that underlay the industrial era economy, obsolete.
What kinds of technological developments could I possibly be referring to? Well let me remind you, I’m a regular guy sitting here in my apartment in Japan talking to you, wherever you are in the world, through a technology sitting here on my desktop, that literally was almost unthinkable a few decades ago. That is revolutionary.
And we’ve talked in the past about how that’s revolutionary in terms of the transference of ideas through society, communication, the media or the rise of the alternative media, but today let’s think about the economic ramifications of this.
And in order to start documenting those economic ramifications , lets give this phenomena a name, and this is always contentious because people always squabble over names or fixate on names or assign too much importance to them, so let’s just try to give it a very apt name, and let’s take our analog today from a technological perspective that I’m sure many people will be somewhat familiar with, or will at least have heard by this point.
That is the idea of peer-to-peer networking, I’m sure many people are familiar with this in the context of peer-to-peer file sharing applications but let’s just get everyone on board.
First we’ll define peer-to-peer networking and then we’ll see how it can relate to the type of economy that is coming into place now, to replace the industrial era economy.