Simple Notes On Discussion Topics From 11/30 Meeting Of Alt. Banking Group Sub-Group

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The main idea:


– Institution(s) so great in its impact that it could replace current banking system.


      Next Step for institution(s):







– Doesn’t or can it address regulatory and legal issues.

– Geared towards retail, not merchant banking. Does it provide capital to small businesses?

– Where is the educational/empowerment component.

– Can it / isn’t addressing merchant needs?

– Why aren’t credit unions working?

– One answer: Loans are limited to businesses.

– Not well marketed / accessible.

– What will the opposition say?

– What are the non-bank account products / markets that we should be paying attention to — especially when it comes to the working poor.

-Are we addressing predatory lending? (reiterated multiple times)

– note on grameen bank

– how to change the world (book)

– Local / National / Transnational?

– Replicability vs. institutional expansion.

– We’re competing w/ an international banking system — does that mean we have to be an international bank.

– issues with credit cards

– issues with atm fees and that being a reason people don’t switch banks over


Potential things to add/consider:

– Something for businesses, espeically small businesses.

– Something for people to invest their retirements in.

– Democratic process that approximates concensus.


Broader Ideas:

– Allow credit unions to compete with commercial banks?

– Should we feel restrained by regulatory rules? Can we figure out ways to get around them?

– Rolling effect vs. exploding effect (Richard, maybe you can elaborate on this — I’ve forgotten some)

– Open to everyone

– Innovative enough to get people to vote with their checkbook

– Replicability

– alternative currencies

– town in maine

– many models

– some said: not just an alternative currency, but an alternative environment that provides people opportunities

One Response to “Simple Notes On Discussion Topics From 11/30 Meeting Of Alt. Banking Group Sub-Group”

  1. D. J.

    I’ve been thinking about the use of energy as currency for many years. Energy is real, valuable, and easily exchangeable. It powers production, and hoarding it produces negative savings. In fact, the use of energy as currency might produce a positive deflationary action by incentivizing energy efficiency.

    Because energy can be a renewable resource produced basically anywhere on earth, getting a clean energy power generator (drilling for oil is expensive) anyone can essentially own their own mint. Solar panel enthusiasts are already feeding energy back into the grid.

    The role of investment banking would then be to invest in large-scale energy production facilities, and selling shares in the continued benefits thereof. The exchange and storage of energy transparently would be a whole new physical as well as financial challenge, obviously.

    What does anyone else here think?