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<div style="RIGHT: auto">At the first sight of this post the whole notion of the US government, and banks saving the planet is understandably absurd...! But is there a credible way forwards? The answer may well be yes if we take my developing project of Transfinancial Economics, or TFE into the equation.</div>
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<div style="RIGHT: auto"><A style="RIGHT: auto" href="http://www.p2pfoundation.net/Transfinancial_Economics">http://www.p2pfoundation.net/Transfinancial_Economics</A></div>
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<div style="RIGHT: auto">Here is the basic draft proposal.</div>
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<div style="RIGHT: auto">1. A special academic website could be set up with commissioned papers on TFE by recognized experts notably in IT, the law, and economics. This should add credibility to the research project. </div>
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<div style="RIGHT: auto">2. The above site could be sent notably to those who have real power. In other words, the top bankers, top CEOs of "green friendly" corporations, and US politicians.</div>
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<div style="RIGHT: auto">3. A Bill for the American government could be expertly drafted known as Facilitation Banking Bill I. This would allow for the setting up of Facilitation Banks, or FBs if it were passed into become law. </div>
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<div style="RIGHT: auto">4.These would have the legal powers to create new non-repayable money which would be electronically monitored for urgent environmental, and socially ethical enterprises at a micro, and macro level. Its operations unlike the normal mainstream retail, and investment banks would be transparent in extremis. Ideally, they should be legally "separate" from the International Monetary Fund, and the World Bank notably.</div>
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<div style="RIGHT: auto">5.Just as banks benefit from the interest charged on the loans the new non-repayable money created electronically would also have what might be termed "grant interest" minus the principal (ideally). This "interest" could created electronically by an independent body. Mainstream banks could also have equal shares in the FBs, and would receive passive revenus from them. </div>
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<div style="RIGHT: auto">6. These new financial institutions would also be able to electronically create loans. However, they would be interest free. The interest again would be created by an independent body.</div>
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<div style="RIGHT: auto">7. The NGO promoting TFE reform with the aid of the academic website mentioned at 1. would emphasis the great importance, and need for a credible full legal framework in which the decision-making process for commercial grant applications should be for genuine environmental, and socially ethical business projects. </div>
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<div style="RIGHT: auto">8.A second Bill which could be created after Bill I could be drawn up known as the Electronic Transaction Monitoring Bill II. </div>
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<div style="RIGHT: auto">9. This is a very controversial Bill, and represents advanced TFE. It may takes years to become Law even if Bill I is passed, and becomes an Act. </div>
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<div style="RIGHT: auto">10. Most monetary reformers would probably dislike the above because it implies a highly pragmatic approach to the banks, and bankers in which they could benefit greatly from the introduction of Facilitation Banks, and indeed, with ETM. </div>
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<div style="RIGHT: auto">11. Time, and time again evidence suggests that working against the banks, and other financial institutions is probably a waste of time though it is ofcourse the most ethical approach. However, what matters NOW is whether humanity will survive into the future, or not. For that a new financial system on the lines of TFE would have revolutionary implications.</div>
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<div style="RIGHT: auto">12. By presenting TFE as a powerful "business opportunity" for the rich, and powerful it could ironically lead to a better, and fairer<VAR id=yui-ie-cursor></VAR> world. This is a counterintuitive stance but one which is worth pursuing</div>
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