“Guerrilla Warfare Against a Hegemonic Power”: The Challenge and Promise of Greece

If Greece were to issue a digital currency to replace the Euro; a temporary measure with many precedents – including Roosevelt in 1933.

WEB OF DEBT BLOG

Banks create money when they make loans. Greece could restore the liquidity desperately needed by its banks and its economy by nationalizing the banks and issuing digital loans backed by government guarantees to its ailing businesses. Greece could provide an inspiring model of sustainable prosperity for the world. But it is being strangled by a hegemonic power in a financial war that is being waged against us all.  

On July 4, 2015, one day before the national vote on the austerity demands of Greece’s creditors, it was rumored in the Financial Times that Greek banks were preparing to “bail in” (or confiscate) depositor funds to replace the liquidity choked off by the European Central Bank.

The response of the Syriza government, to its credit, was “no way.” As reported in Zerohedge, the government was prepared to pursue three “nuclear options” to protect the deposits of the Greek people:

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Towards a Unified Model for Replicated, Shared Ledgers

More from Richard Gendal Brown on replicated shared ledgers.

Richard Gendal Brown

Don’t Say The “B Word”!

I’ve come to the conclusion that saying “blockchain” has become unhelpful. It just confuses people. It means too many different things to different people and so it’s almost impossible to have a conversation in this space without talking past each other. So, as I argued in this piece on permissionless ledgers and this piece on permissioned ledgers, it can be useful to talk in terms of replicated shared ledgerssince I think this gets to the heart of what unifies – and separates – these two worlds.

  • Shared: because multiple actors can read or write to different parts of the ledger
  • Replicated: because everybody who needs a copy can have a copy, rather than relying on a powerful central entity

In this piece, I try to bring it all together – to explain why we should be thinking about permissionless ledgers as a…

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Greece, Germany and the Eurozone – Keynote at the Hans-Böckler-Stiftung, Berlin 8th June 2015

Thoughtful speech, peppered with Greek allegories, that summed up Greek debt crisis as both a political crisis for Europe, and a monetary crisis that can be managed. Pragmatic. Curious to see how it will go down in Germany.

Yanis Varoufakis

Hans-Böckler-Stiftung

CLICK HERE FOR THE VIDEO

Thank you for inviting me. Thank you for being here. Thank you for the warm welcome. Above all thank you for the opportunity to build bridges, to pave common ground, to bring harmony in the face of blatant attempts to sow the seeds of discord between peoples whose historic duty is to come together.

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How to explain the value of replicated, shared ledgers from first principles

Finally, a coherent explanation of distributed ledger technology aka the blockchain.

Richard Gendal Brown

“Digital currencies” aren’t needed to explain why distributed ledgers are important.

In this post, I develop an argument for replicated shared ledgers from first principles. It is intended to be an “education piece” aimed at those, particularly in the finance industry, who prefer explanations of new technologies to be rooted in a description of a real-world business problem rather than beginning with a description of a purported solution.  So, in this piece, you’ll find no mention of digital currencies, etc., because it turns out you don’t need them to derive an argument for distributed ledger technologies!

(Note to regular readers: see the end of the piece for some context)

We’ll start with banking systems

Start by thinking about today’s banking systems. In what follows, I use a bank deposit and payments example. But the same logic applies everywhere you look, as I’ll argue later.

Let’s imagine a world with three banks: Bank…

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Is Iran rational?

In the end, it’s all about trust, recognition of common aspirations, and respect of difference.

Fareed Zakaria

By Fareed Zakaria
Thursday, April 9, 2015

At the heart of the concerns surrounding the deal with Iran is a simple question: Is Iran rational? For many critics, the answer is self-evident. The Iranians are “apocalyptic,” Israeli Prime Minister Benjamin Netanyahu has often said, warning that you can’t “bet on their rationality.” Sen. Lindsey Graham (R-S.C.) has declared, “I think they’re crazy.” Israeli Defense Minister Moshe Ya’alon restated his opinion recently that the Iranian government is a “messianic and apocalyptic regime.”

And yet, these same critics’ preferred policy is one that relies on Iran’s rationality. The alternative to the deal forged by Iran and the six great powers is not war, they insist, but rather to ratchet up pressure and demand more concessions from Tehran. So, this crazy, apocalyptic band of mullahs, when faced with a few more sanctions, will calmly calculate the costs and benefits and yield in a…

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