Question the monetary system and you’re academically dead!

25 Oct, 2015 at 18:11 | Posted in Economics | 10 Comments


Bernard Lietaer is a former professor of international finance and president at the Central Bank of Belgium.


  1. Re: the above link:

    Maybe somebody got wind of this assertion and is challenging it at CATO.

    33rd Annual Monetary Conference


    Thursday, November 12, 2015
    9:00 a.m. — 6:15 p.m.

  2. Milton Friedman, Lawrence Kotlikoff and John Cochrane advocate/d fundamental changes to the monetary system. Didn’t seem to do them any harm.

  3. A few corrections. This man is not the governor of the Belgian national bank. Nor is he a professor (he does not have a PhD). Lastly, the board of the Riksbank is not deciding who will win the nobel prize in economics. So the conspiracy part here is a bit dodgy.

    • Pontus Rendahl, just to get the facts right, Lietaer has e.g: MS in Electrical Engineering, University of Louvain, Belgium; MBA Massachusetts Institute of Tehcnology (MIT); PhD honoris causa University for the Common Good, Antwerp, Belgium.
      And in case you think only professors of economics have interesting things to say on economics, maybe you should consult a doctrinal historian — who soon would be able to inform you about rather famous economists even from Cambridge that were not professors of economics …
      Re the Nobel prize you’re, of course, right.

      • If you do not believe that a person’s knowledge of economics is relevant for their credibility why assign obviously false economic credentials to that person? “[P]rofessor of international finance and president at the Central Bank of Belgium” is simply false.

        • A person’s knowledge is sure relevant for his/her credibility. Positions (professor this or that) not necessarily. I know more than one professor of economics that actually know almost nothing about economics — and also admit it themselves (!!). But they know quite a lot mathematics and statistics …
          Wikipedia:“Bernard Lietaer (born in 1942 in Lauwe, Belgium) is a civil engineer, economist, author and professor. He studies monetary systems and promotes the idea that communities can benefit from creating their own local or complementary currency, which circulate parallel with national currencies.
          Bernard Lietaer, the author of The Future of Money: Beyond Greed and Scarcity and New Money for a New World, has been active in the realm of money systems for close to 40 years in a wide variety of functions. With the publication of his post-graduate thesis at MIT in 1971[1] (which included a description of “floating exchanges”) and the Nixon Shock of that same year which eradicated the Bretton Woods system by unhinging the US dollar value from its gold standard and inaugurated the new era of universal floating exchanges (previous to that time the only “floating exchanges” involved some exotic currencies in Latin America), the fledgling management consultant suddenly found himself to be at the center of the financial world’s attention. The techniques that he had developed for those marginal Latin American currencies were overnight the only systematic research which could be used to deal with all of the major currencies of the world. A major US bank negotiated exclusive rights to his approach which required that he begin another career.[2] While at the Central Bank in Belgium (National Bank of Belgium) he implemented the convergence mechanism (ECU) to the single European currency system. During that period, he also served as President of Belgium’s Electronic Payment System. His consultant experience in monetary aspects on four continents ranges from multinational corporations to developing countries.”

  4. Is he mystifying money? Does he have a complaint about money other than you aren’t supposed to talk about it?

    • I recommend reading his The Future of Money (2001) where he has a more thorough argumentation than in the short video.

  5. Don’t question it & you’re brain-dead. What’s the rational choice?

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