Global Resource Bank
The
Global Resource Bank is a
monetary reform project which would tie the value of currency strictly to yield of
natural capital. Although
David Suzuki,
Paul Hawken and others have promoted similar principles, the
GRB is primarily the brainchild of John Pozzi who claims that it derives from principles taught by:
Apparently, the Bank's scheme removes
consumption and demand management from
monetary policy and works strictly from the
production or supply-side but using
nature's services, not the human economy, as the base. It is a form of
creditary economics as it is central banking without
debt or use of
interest rates to control the
money supply. Instead it simply accepts the variation in ecological yields as a constraint, and reflects the relative global
wealth or
poverty (say expressed as a shifting
value of Earth).
It was one of three schemes for such comprehensive reform of global currency and money markets actively promoted by the United Nations, the other two being UNILETS and variants of the Ithaca Hours system.
Of these, the GRB was the only one to propose imposing a single global currency management regime, and would effectively replace the Bretton Woods institutions (the IMF, BIS and World Bank). It would also deal directly with global debt by issuing ecological credits.
See also: Natural Capitalism
External links