Understanding the UN Peoples Bank for Sustainable Development

The UN Peoples Bank: What, why and How ? Frans C. Verhagen, M.Div., M.I.A., Ph.D. sustainability sociologist for international development International Institute for Monetary Transformation (IIMT) www.timun.net; gaia1@rcn.com ; https://transformmoney.org/ October 8, 2022 The UN Peoples Bank 1

Overview WHAT is the UN Peoples Bank? WHY is the UN Peoples Bank necessary? Comparing 3 approaches dealing with inflation HOW is the UN Peoples Bank to become a reality by 2025? What role have the AMI and IMMR to play ? Huber s Views on TTRIMS and UN Peoples Bank Concluding questions October 8, 2022 The UN Peoples Bank 2

What is the UN Peoples' Bank-1 UN Peoples Bank is the central component of the Tierra monetary sustainability framework of international development that is based on the decarbonization/optimal solarization monetary standard This world s central Bank issues, circulates, modifies etc. the digital currency of the Tierra as part of its sovereign monetary authority delegated by the central banks of its members. October 8, 2022 The UN Peoples Bank 3

What is the UN Peoples' Bank-2 The Bank operates a dual balance of payments system that accounts for both financial and ecological credits and deficits. The Bank s 24 governors are chosen by its members central bank officers; unlike the IMF the Bank does not have a quota system of voting based on members capital contribution October 8, 2022 The UN Peoples Bank 4

What is the UN Peoples' Bank-3 It is an outcome of the Global 32 Initiative public discussion and decision process that proceeds from monetary, financial, fiscal and commercial reformist measures to the goal of international transformational policies constituting a new monetary paradigm to advance a just and sustainable global governance system October 8, 2022 The UN Peoples Bank 5

CHANGING THE MONETARY PARADIGM From national reformist measures to international transformational policies constituting a new monetary paradigm to advance a just and sustainable global governance system Details about the TMP see last year s AMI Conference.Verhagen-2021-Tierra-Monetary- Paradigm-Abstract.pdf with its PowerPoint presentation on (853) 2021 AMI Monetary Conference -- Frans Verhagen - YouTube October 8, 2022 The UN Peoples Bank 6

Rationale for the UN Peoples' Bank-1 The looming climate catastrophe and other global crises demand a transformation of the human monetary, financial, fiscal and commercial subsystems of the world economy that are not working on account of their injustices, unsustainability and instability. Decarbonizing the present international monetary system by basing it on monetary standard of a specific tonnage of CO2e per person would transform those four subsystems of the world economy This transformation was first presented in Verhagen 2012 The Tierra Solution: Resolving the Climate Crisis through Monetary Transformation and is being updated in its 2023 sequel: Transforming Money: What, why, and how? and summarized at https://transformmoney.org October 8, 2022 The UN Peoples Bank 7

Rationale for the UN Peoples' Bank-2 Pros and cons of MUDDLING THROUGH Pros: easy way out; solution too difficult Cons: monetary issues such as inflation has to be solved; mr and mtransformation has solutions amidst the emergencies in climate, health, food and governance Pros and cons of a reformist Bretton Woods 2.0 Make governments and peoples think about a global framework in the direction of Bretton Woods 3.0 Pros and cons of structural international monetary transformation TTRIMS framework as an example Not only central bankers, but also representatives of the financial, fiscal and commercial sectors participate (RReich) October 8, 2022 The UN Peoples Bank 8

Comparing approaches to inflation Approaches show different levels of interpretative strength and policy parameters Traditional approach: muddling through amidst monetary, financial, fiscal and commercial subsystems of the world economy that do not work Reformist approach: has its mostly national debt systems replaced with money-based one Transformational approach: has national money- based systems become part of the TTIRMS framework of international development October 8, 2022 The UN Peoples Bank 9

Making UN Peoples' Bank a reality-1 The COP26 Open Letter with a proposal on monetary justice and the petition for a UN Commission on Monetary Reform and Transformation was a first step of the UU UN Office and International Institute for Monetary Transformation for more joint monetary justice campaigns of monetarist and religious organizations Grass roots campaigns using Avaaz and other petition signing organizations needed to make transformational changes possible. (Margaret Mead) Educational outreach of CSMOs, business and academe. October 8, 2022 The UN Peoples Bank 10

Making UN Peoples' Bank a reality-2 Simple framing, branding of a monetary, financial, fiscal and commercial issues that is considered complex, using pithy statements for signs and placards Among civil society monetary organizations (CSMOs) start UN Peoples' Bank Working Groups that attack financialization and economic concentration by making strong statements to UN organizations and getting invited by financial elites in banking and non-banking sectors October 8, 2022 The UN Peoples Bank 11

Making UN Peoples' Bank a reality-3 Developing leverage points that propose new avenues or oppose existing unjust, unsustainable, and therefore, unstable monetary, financial, and fiscal systems. Three major initiatives as leverage US-China Partnership-in-Rivalry Treaty with its International Development Facility Initiative African Partial Debt Strike Initiative to push global North financial elites to participate in reducing debts and the establishment of the 2023 UN Commission on Monetary Reform and Transformation and the 2024 UN Foundational Convention BINRA Initiative for the Dutch government and people October 8, 2022 The UN Peoples Bank 12

Concluding questions 1. How important is the establishment of an IMMR International Working to acquire accreditation at UN Organizations? 2. Should AMI, AFJM and IMMR define monetary reform in terms of national reformist measures and international transformational policies? 3. What is your group s opinion about the three approaches to combat inflation? October 8, 2022 The UN Peoples Bank 13

This Photo by Unknown Author is licensed under CC BY-NC This Photo by Unknown Author is licensed under CC BY-NC October 8, 2022 The UN Peoples Bank 14