GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Friday, November 29, 2013

Prof Steve Keen ~ The International Financial Architecture

My speech to the Meeting of Finance Ministers of Latin America in Quito on November 29th 2013. I explain Keynes's proposal for an international unit of account called the Bancor, and support Zhou Xiaochuan, the Governor of the Central Bank of China, in calling for its introduction. I also argue that Latin America should in the meantime develop its own unit of account for intra-CELAC trade.

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