Brexit & The New Economy
Copyright Rodney A. Fisher 2016
All Rights Reserved
No part of this book may be reproduced in any form
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including information storage or retrieval systems,
without permission in writing from both the copyright owner
and publisher of this book.
First published in 2016
1 Introduction to
The New Economy
The Present Economy
I think it is fair to say all world economies are unsustainable, for example:
1 People not understanding their rights in the economy.
2 High unemployment and short hours of work.
3 Wages that are too low to support our standard of living placing many in
debt caused by lack of earnings.
4 Many industries in the rich nations are unable to compete, because wages in
the developing countries are very much lower than they should be.
5 People having little knowledge of economic matters and their purpose in this
6 People not knowing they have a right to work rewarded even from the hunter/gatherer days.
Without work how could we all live, as we need food and shelter to live.
This proves we must have work to achieve our affordable standard of living!
7 Over the recent centuries past we have always had
wars/conflicts for various reasons
for example to gain more power, natural resources, or to gain slaves or
cheap labour to support dynasties/dictatorships. This
form of civilisation has wasted considerable resources that could have
been used for improving our standard of living, and now for
preventing our civilisation from collapsing due to destructive forces
currently taking placeIn the
hunter-gatherer days the tribes have had smaller populations and worked
team to survive. They created little damage to the natural environment
was shown how to survive under those conditions at that time. Today many children seem to think that work and looking after each other is
recent centuries we have created and learnt thousands of new skills to improve
our standard of living/survival, and in the twentieth century millions
of new skills
have been developed in new technologies to improve our lives and to
explore the universe! We collectively now have substantial knowledge and if properly
live in a form of paradise, where we live in peace, from any form of
the marvels of our planet earth and the universe. In
spite of all the admiration for equipment/technology we now have, it is
humanminds/thinking that developed them and manages their use. New ideas
come to usthrough
us and are not created by robots etc. Without mankind the new
not have been developed. None of us can absorb all the knowledge
work and develop our economy collectively, using millions of different
simplest to complex ones. People in each district and region cover a
vast range ofskills
each of us being skilled in different ones, so that collectively we have
the skillsrequired to provide a very large portion of our needs and wants to
support our standardof living. Each person is equally important, because
every task is needed and we rely on each other 100%
structure of our existing economies, presently held in place by governments and other
powerful institutions, is very distorted, creating conflicts, wars and unfairness to each
other! World monetary currencies are very distorted, so people in the less developed
countries are expected to live on 2 dollars a day while in countries like our own (UK)
people need 140 dollars a day. Therefore our trade is not on a similar basis. This form of
distribution means more goods and services have to be provided from countries where
wages are at the lowest level for the skills required to produce the product !
We usually want more than we can achieve, so why the high levels of
unemployment? This is caused by the developed nations currencies being overvalued.
Governments like to set
minimum wage levels, but they also need to set a maximum
level as one cannot justify more than 10 times the average wage, so why are many
managers and others being paid 1000s of pounds per hour?
The Majority of Governments (civil servants and politicians) are saying there are
no other ways to manage our economies. This is not true. The model/tool for the new
economy has already been developed and could have been used from 1996. It is proving
impossible to have dialogue with our Governments! Several governments have been
provided with substantial information, which is ignored, as they still want the free
market system . This ignores our human right of work and to be paid fairly, based on
the hours of work done and
using trading rules that are fair and honest, on a worldwide basis.
Clearly from the foregoing comments made the world needs a new sound
economy, and a new one that all citizens and businesses can understand, forcing
economists supporting the free market system to change to a sustainable one! The
present day economy is not only functioning poorly in the U .K. but worldwide also.
Wars, terrorism and the unsustainable free market system need to be urgently
replaced, before any further collapse into chaos. The New Economy has been offered to
governments, but at present they don t appear to possess the personnel wishing to accept
it, preferring day to day crisis management.
The New Economy
is the New Economy? It is a new trading system that serves everyone
because we all need to trade our skill/s to buy in the needs and wants for our enjoyable
survival! No one should be excluded from The New Economy, but will be expected to
abide by its trading rules, which are open, fair, honest and sustainable when fully
implemented, as it follows natural sequences.
The New Economy is based on a Co-operative called NITEC (National and
International Trading Exchange Co-operative) to which all members must belong and
follow the trading rules as set out in the Book Master Currency Sustainable Economic
System (MCSES) by Rodney A Fisher. This book is an economic tool used to change
economies from an unsustainable condition to its chosen form as already outlined in the
introduction to the New Economic System. Countries can use different models to take
into account their circumstances. It is very important for economists responsible for
change to understand how each nation is developed to become stable and to serve a
nation properly. The trading and exchange system would be run by another co-operative
called NITEC Time Bank. The majority of citizens will be able to understand the
economic tool, and follow its rules and guides, which are already available. However
larger businesses would need to study Volume 2 of the book.
In the transition of national economies changing from the present situation to a
stable one, where all the necessary changes have been completed that process would
take a number of years. All finance banked would be in the Master Currency unit (MH
= one hour’s average human productivity) and be recorded in the national currency.
There would be no interest paid on the MH unit, but the national currency is linked to
the unit to protect deposits from wage inflation, which presently takes place and would
continue until the transition process is completed. Because the unit is a valuation of one
hour’s work it preserves its buying power however long served.
Using the new economic system economists managers and larger businesses
would be able to build their form of infrastructure modelling as set out in the book (MCSES) which
Each local district and region would have their own models could be
compared with other regions, and other nations regions to establish the basis for up
grading their economy. The system can be used in many different ways to suit each
All modelling would be based on average human productivity and their hours of
work. Every product/service can be converted into hours of work (estimators need this
to plan projects and their cost) in whatever businesses they were created. Models could
also be made to reduce transport costs, or unnecessary journeys.
The advantage of The New Economy for individuals and families is that taxes
could be lowered, because a larger working population are in employment and retired
persons would be working to a much later age and for shorter hours. Their savings
would not be devalued by wage inflation, or deflation in The New Economy and their
pension funds would not devalue once converted to the Master Currency.
In the new system everyone would understand how important each of us is
because what we do each day requires millions of people with all the different skills
needed to make the goods and services we consume. Mistakes made and
misunderstandings will happen, but these can all be forgiven, or corrected without any
violence or conflicts, which is now happening in the world and destroying the lives of
millions of people. Working together, being open, honest and trustworthy is a necessary
culture of The New Economy. It is worth building it, and quite possible to do.
Ideally the Local District Authority should be the centre of its activities. They
should work in conjunction with their citizens, who would have substantial
details/information on the resources and skills in their area. All its citizens problems
should be solved at
that level leaving politicians to oversee the economy and interact
with the region and national government, as necessary to ensure a stable nation.
People could prefer to manage their own savings, either in a current account, or
a savings account when this becomes available. For this, very safe records are
necessary. Others may wish to risk some of their pension funds in shares, and for this
need to understand that if the company fails their savings could be
borrow £25 000 his assets back the borrowing and the banks should not
prevent this. Mortgage security would still be provided.
Please support The New Economy by becoming a member of NITEC Time
Bank to protect your savings from wage inflation.
NITEC Time Bank
One might wonder why we are setting up a Time Bank and anyway, what is its
purpose? However we are nearly all aware in recent years how the world’s banking
system is failing, there is substantial unemployment, many people have to rely on
subsidies and the monetary and economic system is very unstable.
Our modern economy relies on millions of skills and products, and the old
fashioned economy we have does not allow stable economies to be built.
The human race has always had to work to survive. Initially we were
hunter/gatherers, but gradually we learnt other skills to improve our lifestyle, and
eventually all changed rapidly in the industrial revolution.
The only resource we all have are our skills used in work, and these hours of
work are for most of us the only thing we can exchange for goods and services we or
our families need to give us a sound standard of living, Nature provides us with the
natural resources and we need
them for food our homes and industries. We also have to
care for the natural environment to ensure our survival can continue. We all have to
learn many skills our economy requires to ensure collectively we have the right skills to
support the local, national and world economies.
The level of our standard of living depends on the hours we are prepared to
work. We are all equally important, as all the necessary skills are required for our
survival and leisure activities.
From the foregoing explanation we must be able to exchange our hours of work
and therefore our monetary units must be based on hours of work, and a set of trading
rules on how we value each other s skills. These are explained in my book Wage
Negotiation published in 1994.
For any economic system everyone must be honest and we must be able to trust
each other - this is a most important culture. All trade must be open, fair and honest.
Rodney A Fisher and his team have carried out substantial research and a new
Master Currency has been developed using a trading unit called an MH (Man Hour).
His book “ Master Currency Sustainable Economic System lays the foundation for this
new form of economy and it is used as an economic tool to make our economies
gradually sustainable, so we can all support ourselves.
The New Economic System
The new economic system is like a natural resource and is a human right to
belong to just as is the right to work since we are entitled to water, food and other
natural resources to sustain our passage in life. All its members will sign up to its
trading rules and its co-operative that will manage its purpose; a fair and honest trading
system that follows universal laws. This is a private contract commitment to all others
to trade fairly, openly and honestly, using the Master Currency (MH) trading rules, and
sound education principles. The trading system and all its development activities would
be based or modelled using MH units. The industry/business sector and government
would need to have their financial bud
gets, or cash flow based on the MH units. Each of
us and each business and institution sector would only have one current account, which
can be managed by NITEC Time Bank, or other banks using the system. No interest
would be paid on savings in the current account and where a debt occurs in the current
account. No interest not based on work would be charged as interest cannot be
justified; such practices would distort the economy. Business profits would need to
comply with the MH trading rules as set out in the Master Currency Sustainable
Economic System. All valuation of assets should also be properly valued in MH units.
In a modem world in communities of around 100 000. about half of its working
population serve only their own requirements. These local districts could be serving a
hamlet villages and a small town, or be a part of a large town or city. A region would
comprise of many local district communities, and the regions in each country would
continue to be managed by governments to co-ordinate each country’s economic activities
The new economic system with the support of its NITEC members can be self-
supporting without government subsidies. The key to developing this situation is for
people to be paid properly for their hours of productivity on a level playing field’, not
only in their own country but worldwide. This can be accomplished by understanding
how economies need to interact (the real purpose of local, national and international
trade), and how to reshape them to support everyone properly in harmony with the
natural resources. Nature has given us all the knowledge and skills required to create
The first action required is for local people to get together, set up their trading
current account system and pay themselves properly for their work, self-employed,
employees and business/institution owners. These early groups will still need to trade
with the present form of trading system, say the other 50% of our working population in
other regions, national and worldwide.
Initially it would be necessary to spend half our income on local products with
our local earnings. The local goods and services would need to be produced as
efficiently as possible, using the resources we already have. By the underpaid being
properly paid, they would now be able to spend their extra money on local goods and
services - this would then increase demand for local goods and services leading to
further employment creating more money for buying local products and reducing
unemployment. Our savings can also be used to modernise businesses and create more
homes. Local and other government services should also permit their employees to be
properly paid ; many are and many are not !
By local people putting their savings (local £s and ordinary £s) in the NITEC
banks they would be protecting them from loss of purchasing power, which in the
existing banking system is rarely achievable!
Master Currency (MH) money is a fixed measure like weight and length
because it is based on hours and minutes. When we work we produce goods and
services and these products are then put into the market (like our shops), or we create
infrastructure (like our homes, roads, railways, factories, warehouses and water supply)
and this is always worth more than the money we have in our current accounts,
including our savings. All our money in current accounts, including savings, is backed
by all this wealth. That is why in the Master Currency Sustainable Economic System
your money in the NITEC banking system is always yours to spend whenever you wish,
as the NITEC bank only keeps a record of your trading activities. The money is yours as
long as your account is not in the red (negative balance).
When people join NITEC (the Co-operative) they bring their other assets
collectively under the protection of the members.
The second action we need to take is to set up our first NITEC branch. Each
branch would keep the records for its branch and daily it would record the account,
transactions which would also be stored at other secure locations. Including the
National Central Bank once ¬
government have adopted the system, but until then the Co
operative would be responsible for this.
At an early date a savings account would be set up so people can protect large
savings from reduced purchasing power caused by wage inflation and from any banking
collapse of the existing system. This would also produce funds to be borrowed for
serious projects like home mortgages and business investment. However, sound security
would be needed to back the loan. A person, business or institution credit worthiness
could also be used to secure loans.
Each local district community should, wherever possible, trade within the
community. This would include locally produced food, materials, products and services.
Services also include local government, health, education, police and emergency
Everyone should be properly paid for their hours of work, or as agreed with the
employer. All trading must be honest and profits kept within the systems criteria. No
product should be overvalued, as this distorts the economy.
Everyone should be respected and where persons need help, this must be arranged.
As the number of members grow to a sufficient size, a centre needs to be created
to help members with their problems and to organise the local trading information, system of where the skills are and the products and services are located. This task could
be undertaken by the local authority, who already have many useful records.
It should be noted that people living and working in the Local District (like a
County) have substantial knowledge of the land and other assets they own, a history of
problems, resources, and what is needed to give them a sound standard of living, within
capacity to create.
The Time Bank Project
From the forgoing explanation of the purpose of NITEC and the Master
Currency Sustainable Economic System, briefly outlined in this booklet, it is hoped that
the reader understands that this project is based on the understanding of our purpose on
earth (and for that matter the universe too). By using sound solutions our journey in life
can be much better. Collectively we have been given substantial knowledge. Working
together and using it we do not need wars, or to use the world s resources unsustainably.
We are entitled to live a good life and one where we have the right to work (generally
speaking when fit and able) but one that also has responsibilities for ourselves and
others, and the world’s natural resources. Without the greed of some a balanced quality
of life is possible by getting the economy to be sustainable. We have the knowledge,
and we must start to build the new economy now. This is our natural right The Time
Bank will provide a current account and a savings account: see pages 8 to 12.
This document should be read after reading the NITEC Time Bank leaflet.
Many people would want to know why they should have a NITEC Current Account.
1 This current account forms part of a sustainable economic system with very
honest and natural ways to trade in our communities, country and
worldwide; where our wages earned have a proper purchasing power that is
not lost by inflation. The money deposited in the current accounts remains in
the customer s ownership and is not lost if the bank fails.
2 The NITEC Time Bank will encourage traders to ensure people are properly
paid for their work and skills (not just given a minimum wage but one that
takes into account their productivity and the skills they use). The wages will
be based on the system’s trading rules as described in booklets like
Everyone’s Simple Guide and Wage Negotiations .
3 Millions of people work in the economy and even in a local district (a
community) where there could be a 100,000 population, all being NITEC
trading members: this is a very powerful force to protect our rights openly
and honestly. We all rely on each other to ensure our system serves us
properly and fairly.
4 Our system will also be connected with the existing systems, but any money
deposited in those banks current accounts (and savings accounts) would be
logically still in NITEC ownership (its co-operative members), as this is a
5 All members have credit worthiness and most of us during our lives need
financial help for all sorts of sensible reasons. NITEC Time Banks will help
its customers with their problems. Loans free of interest will be allowed. The
current account would then become overdrawn for say towards a mortgage, for a home to
help a business or for some other special reason. Charges would be made for the service.
6 The NITEC organisations would ensure savings and loans, plus assets, are
kept in a sustainable balance, and our collective ability to create. The more
collectively want, the more hours we need to work.
NITEC needs to know our skills and this section must be completed on the
application form for the current account. This information will be used to build the trading system/economy we all wish to have.
NITEC Time Bank
This document should be read after reading the NITEC Time Bank leaflet.
Many people will want to know why they should place their savings in the
NITEC Savings Account. Money placed in other savings banks or in any other
1 Not protected from wage inflation.
2 Money placed in other banks belong to the banks/building societies, which
could become bankrupt, and only some of the money is guaranteed.
3 The banking system, that governments support, is failing badly leaving
enormous debts to be paid for by the tax payers.
The money placed in NITEC banks is backed by everyone s assets, and goods
and services are ready for sale. Savers can withdraw their money at any time they wish
to spend it. The money in the NITEC system is created by its members working and
trading in it. It is designed to satisfy a sustainable standard of living for everyone and to
care for the global natural environment. There is no other system that can do this. The
system belongs to everyone using it (that is the co-operative members) and is open and
The table on page 10, under the system, shows how the money saved from the
end of 1991 would have been protected from inflation. It is like paying interest on your money, but it is not subject to taxation, because it is not a profit, but just the value of
purchasing power that was lost annually by the saver, under the present system.
The NITEC system helps one plan what one wants for future requirements, like
deposits for buying a home, a business or for retirement as an example,
The savings system also makes available funds that others can borrow, that most
of us require at some time in our lives. Further there is no need for any interest to be
paid where security is available, other than the cost of providing the service to pay
NITEC employees and other overheads in running the exchange system.
To save in a NITEC Savings Account you do not have to be in work. You can be
a retired person, or a business, looking for a safe place for your savings. However, you
are required to be a member or a business customer of NITEC and follow the trading
rules, including supporting the system where you can.
How the MH protected the saving of £6.81 from end of 1991
Year Number Value of Equivalent % interest rate
Of years MH unit Averaged over the in £s number of years
1992 1 7.21 5.87
1993 2 7.46 4.77
1994 3 7.71 4.01
1995 4 7.91 4.04
1996 5 8.20 4.08
1997 6 8.60 4.38
1998 7 8.95 4.49
1999 8 9.37 4.70
2000 9 9.45 4.31
2001 10 9.77 4.35
2002 11 10.40 4.79
2003 12 10.73 4.80
2004 13 11.22 4.98
2005 14 11.62 5.05
2006 15 12.08 5.16
2007 16 12.33 5.07
2008 17 12.70 5.09
2009 18 13.04 5.08
2010 19 13.53 5.19
2011 20 13.71 5.06
2012 21 13.53 4.70
2013 22 14.01 4.80
In 1991 the MH unit was worth £6.81 and the table is used to show what
and for 1999 4.70% is given for each
of the 8 years
1992 to 1999.
NITEC Time Bank
Please tick box/s as applicable
For NITEC Current Account CH
For NITEC Savings Account Q
Tel ( home)
Please tick this box if you would like to receive information from us by Email. [ ]
Date of Birth
National Insurance Number
Your skills and qualifications, (that you wish to trade with NITEC members).
Your preferred work skills
I agree to abide to the NITEC trading rules and the system developed by Rodney
A Fisher and managed by the NITEC team.
NITEC Local Branch:
NITEC Centre for Local Branches
NITEC Time Bank
Meeting Agenda 1 /07/12
We have now reached the stage where we have done everything possible to
engage with Government, Local authorities and other State organisations.
We have also reached the point at what the public feel acceptable.
2 We are now at the stage where we can start the system we consider
acceptable and workable and as set out in:
- NITEC Time Bank
- NITEC Current Account
- NITEC Savings Account
3 Go through (to get agreement) draft NITEC Time Bank paper paragraph by
paragraph (16 No.).
4 Ditto Current Account
5 Ditto Savings Account
6 Ditto Application Form
7 Discuss the use of the Post Office + (Co-op for NITEC). Time Bank at Post
Office and using book to record Local £ in current account using cheques.
8 Start MH Savings Account with NITEC, done doing manual calculations to
convert to MH units (until NITEC can get software to do the task).
9 Items 7 and 8 can be started just using say 50 to 100 members and businesses.
10 Key to righting low pay and creating jobs to pay people properly could be
50/50 £/Local £ paid in by the BANK (NITEC staff would work out the amounts).
Say 650 account holders needed to cover the payment of salary of one
employee full time in a local bank. However if deposits paid into saving
accounts can be made it would produce £20 per £1,000 deposited. For
£30 000 gross income £1.5 million deposits needed.
11 To create employment in a balanced economy say 1,000 unemployed were
started in work. Gross earnings for them per month = £2,137,500, and this
would produce a bank income of £20,000 enough to pay say 4 staff.
12 Bank premises cost substantial sums. It is therefore best to encourage retail
businesses such as sub-post offices to be used.
13 Present members must make a commitment to establish the first NITEC
14 When the above has been achieved a simple written constitution etc can be
drafted and then approved by the members. In the meanwhile the NITEC
leaflets given out today will be the basis of the Co-operative.
North of England Economics Working Group
NITEC Time Bank - Minutes No 1
Brief Minutes on Meeting Agenda 1 /07/12
With reference to the meeting agenda the members present went paragraph by
paragraph through the NITEC Time Bank papers; Time Bank paper, Current account
paper, Savings Account paper. These were read, discussed as desired and then agreed by
the eleven members present (listed separately and by a twelfth unable to come to the
meeting). Regarding the application form we did not all agree to the use of National
Insurance No. for
our accounts therefore
another form of numbering would be used.
With reference to item 7 of the Meeting Agenda it was agreed post offices could
be used to bank NITEC Savings Account £ Sterling Money (in the Co-operative Bank),
which would also connect the existing system with the NITEC private banking system
(which is an exchange system based on the MH unit). Savings books are to be used to
record NITEC Savings Accounts and NITEC Current Accounts transactions.
With reference to Item 8 of the Agenda this process was agreed. Only two books
are required one for the savings account and one for the £ Local current account, (per
person or other business or institution). At the end of each financial quarter manual
calculations would upgrade the two types of account to the latest MH value for the £
Sterling based on available statistics as explained in Master Currency Sustainable
Economic System (MCSES).
With reference to item 9 it was understood we are aiming for at least 1000
members trading in Local £ but the savings account could be started for one person upwards.
With reference to item 10 the 50/50 £ / Local £ was considered satisfactory, but
based on our joint knowledge concerning many businesses they could not afford to pay
higher salaries, even in Local £. The best solution would be for NITEC to work out £
Sterling and £ Local that should be paid to employees/member s accounts, and for
NITEC to upgrade pay (the sums lost in earnings they are entitled to) and place into
their current account (Local £) as the market owes it to them. Government then does not
need to subsidise these persons, but only for special problems. This gets money to
people immediately, will increase trade, and eventually increase employment, when
businesses take on more staff to cover additional trade. The quantitative easing by the
Bank of England goes into the wrong orbit and benefits the wrong persons, businesses
The principals of the remaining items 11 to 14 inclusive discussed were all
agreed and work will now be in progress to build the membership and start the first
Local branch/s for the trading system.
The New Economy
the North of England Economics Working Group meeting 1/07/ 12, a considerable amount of correspondence has taken place with banks and
governments including the European Central Bank!
Each banking branch would have its own accounting system, isolated from any
internet connection. Deposits would be placed into current accounts and savings
accounts. A chequebook system would be used for the larger sums of money and cash
for smaller transactions. Deposits would be stored in MH (Master Currency units), but
the currency used would be in £ Sterling -hence two columns of figures would be used
and automatically connected with the MH in accordance its trading rules (see page 17).
At each yearly quarter the bank statements £ value would be adjusted to follow the
inflation/deflation wage changes, based on government statistics. 50% of trade would be
local products and services and this could apply to local government and other
government organisations. The increase in local trade with properly paid wages will
increase trade and employment! As previously mentioned money in current accounts
and savings accounts would be in the customer s ownership, and no interest would be
added on savings accounts, which would be free from any bank charges. Where current
accounts are held the chequebooks would need to be paid for, approximately £3 per
cheque to cover bank overheads/ profit . There will probably be 20 cheques per book and
these would be paid for when supplied. Bank charges would be made for overdrafts or
others special services in accordance with the Master Currency trading rules.
When the first NITEC Time Bank has been established its members will trade in
accordance with its rules. Those that are underpaid would be properly paid for their
work and no member would be overpaid ! The New Economy will generate more
income for many NITEC members, who would no longer require state subsidies.
Initially we would still need to abide to the present taxation system.With any trade
carried out in the export market we would be able to sell to other nations on an
appropriate trade level playing field. Therefore, poor countries would be able to afford
our export products ! Welsh and British lamb would become more affordable and not
rise and fall with the existing currencies, because they would be sold in Master
Currency units (MH)!
NITEC members and businesses would be able to borrow interest free loans and
only have to pay for the service of loan management costs. Asset prices must be based
on proper valuations and not overvalued market prices. For example under present
conditions 2016 a market for a house property could be £300 000 when in fact the
building cost was £ 100 000, and the plot only really
worth £ 10 000, .
The New Economy opens up considerable advantages, because it is open
honest and explains to members/citizens including children in their education our duties
to each other and creates the most stable living conditions possible. It minimises
NITEC TIME BANK
Branch No. 00001 - Aberaeron
Trading Balance Quarter 1 (Jan, Feb, Mar) 2013 - MH=£13.52
Customer Address: Account No.
Date Details Withdrawn Paid in Balance
2013 MH £ MH £ MH £
Conflicts, and all matters are settled by sound dialogue. Each day millions of people are
providing our possible standard of living! Governments are not treating us fairly,
because they fail to realise we first want sound guidance as children, and then help with
our vocations. We next at this
choose to be single or married and have families, and
stage would probably wish to buy our own home. Eventually once families created
couples, and we can say reach their fifties, that is time to think about
pensions, having paid off the mortgage, when homeowners! So why do governments
make us pay into pension schemes as soon as we are employed? We could have died
before reaching 50! The New Economy does not make people do things at the wrong
time in their lives!
The objective of The New Economy is to do tasks and plan in the right
sequences, with sound explanation. There is no need for hunger, and conflicts ruining
our lives. The managers of NITEC would build the sustainable foundation for our
economy and then guide us on the other tasks. Wars and conflicts are not necessary, but
sound dialogue is!
In the present world economy millions of people are being faced with debt.
Others are driven from their homes due to conflict. This tragic situation must be
stopped. NITEC sustainable economic system is probably the only carefully thought
through concept that can create more sustainable conditions, and collectively its
members have this power by joining NITEC, then building and managing its concept
using their collective skills!
NITEC is in effect a political concept too. If more than half the population
joined it we would have a sound trading system.
“ The New Economy does not destroy the wealthy, but their assets must be used
wisely and sensibly as it all supports our economy!However, in due course weapons for
wars and conflicts on Earth must be dismantled and the resources used to deal with
manmade or natural disasters.
The NITEC Time Bank is a trading organisation: it is the first place to go if one
is having financial difficulties. If it cannot help it would direct a person to the
organisation that is there to help members with their problems.
NITEC, (the co-operative we should all belong to), would in due course be
responsible to monitor the trading/banking system, and build the structure of “ The New
Economy” worldwide, It would endeavour to keep our economies on a sustainable,
peaceful path in harmony with natural resources, and to build the necessary economic
management structure for this task and the economic tools/organisations, including a
sound education structure to guide members openly (we could say from birth until
Terrorists should bear in mind that by destroying the present day peaceful
societies they would be back to hunter-gatherer days, as they would not have the skills
for our present day standard of living. Wars and conflicts only cause bitterness and
never solve the problems ! Sound dialogue and explanations are essential to solving
problems, and this leads to compromise and forgiveness and helping one another with
our daily lives of work and pleasure!
The strategy of The New Economy is to eliminate, and then educate the
manmade forces distorting the trading system preventing sustainable development, and
thereby create peace in our present-day world. This can only be achieved by honest
dialogue and using a sound economic structure we can all understand!
It is most important to remember whatever our beliefs may be we are all
supported by millions of skills. Each of us only supplies a few of them. So why the
conflicts when we should help each other?
Present day governments are responsible for the unsustainable trading system
and thousands of regulations, often unsound and distorting our economies, They should
be developing the right form of human culture, where we help one another, are
responsible fair and honest. We all make mistakes and should try and learn from our
errors. Codes of practice can be very useful, but the only laws we should abide by are
the natural ones and these are the ones we should be following! The Master Currency
Sustainable Economic System (MCSES) tries to achieve this objective. It is an
economic tool to develop sustainable economies for families (Vol. 1) businesses (Vol.
2) and governments (Vol. 3). Individuals/families need only the information in volume
1 as this gives them a guide to planning their budgets and to work out what is
achievable! However many people may only be interested in Wage Negotiations and
this is available in a booklet and later hopefully online free! In due course for younger
generations all this information would form part of their general education.
Presently (2016) we can see our world in a disastrous state, much of it caused by
our human actions of conflict others caused by natural events and our lack of
understanding for the need for sustainable development to keep our economies in
harmony with natural resources available. We need to live in the safest of places on
earth and where water is available. We need to keep the earth s atmosphere stable to
prevent global warming, or freezing that upsets the balance of our climate. We are
aware of the safest places to live on the earth’s crust. By removing our destructive
forces on earth like conflicts, unnecessary transport of goods/products and not building the
infrastructure in safest of places we would use much less energy. The MCSES is
designed to help with this process! We are also producing millions of products that
never get used wasting energy and creating more rubbish! Many assets we create really
get little use and many are a sort of status symbol for the very rich only, and shouldn’t
they be using our energy/resources helping the very poor in the world! The task of “ The
New Economy is to build a better world for everybody, one that respects all citizens!
The majority of people/families want to live in peace and enjoy the natural
world and our peaceful assets. No country in the world at present is striving for this. The
tools of war are becoming more horrific! The author and his team are proposing that
citizens should sign up to the NITEC organisation to build peace in our world and a
sound economy where we can enjoy what nature can give us. Those presently in power
and governments are not providing this properly and will never do so, because their
knowledge and skills for this process do not exist in government! Therefore a fresh start
must be made and the action needed is to support The New Economy join its cooperative (NITEC) and sign up to its concept/trading rules and conduct to each other for a sustainable
world which is open fair and honest without hidden secrets Without our
manmade problems we can make our world a much better place to live and carry out our
Creators” tasks ! Our world is full of marvels let us enjoy them and not destroy them !
The EU = Should Britain Vote In or Out?
In 1992 I wrote a paper on “ Treaty of Maastricht” and the MH Monetary and
Economic System (the foundation for The New Economy” ). The paper compared the
two systems. In the last three paragraphs of my paper I said the following:
1 With the MH system there is the technology for guiding economies into
proper balance in gentle steps as is possible, to lead us into sustainable
economies. People have suffered enough hardship already from attempts of
governments in trying to guide our economies. It is about time that
governments fully understood our economies and how to manage them,
properly without always leaving the public to pay the cost of their mistakes
and suffer the hardship caused by them . With the Treaty of Maastrich they
cannot explain to the public how they are going to achieve their objectives,
as they have yet to find the solution. With the MH system everything can be
explained and hopefully at last money will no longer mystify people.
2 Under the Treaty of Maastricht many decisions are taken away from the
independent nations, and needs to be, because of the choice of its economic
system. A member state can be forced to take actions against its will,
resulting from majority voting. It can also be fined for not taking certain
actions. The MH System is a set of rules to which member states would all
agree, and these are needed so we can trade on equal terms. Once having
agreed this, each member state makes its own economic decisions, without
any influence from the other member states. Politically the nations will be
even better placed to help each other to ensure peace and a sustainable economy.
3 The objective of the Maasricht Treaty are good, but it would appear from the comparisons made that a much better foundation for the Economic and
Monetary Union of Europe should be urgently sought, before ratification of it in its present form.
The treaty has not altered the European unemployment problem and their
banking system has failed to serve the economy properly. The author has corresponded
with France and Germany at presidential level, but since he suggested a political
decision was needed to change the system his correspondence has been ignored.
However the European Central Bank has taken note of his letter to HM Treasury in an
unrestricted (open) letter, but they have no powers to change the EU/banking system!
The copies of the letters mentioned are in the appendices.
The Author has mentioned that codes of practice are necessary in an economic
system. The EU make laws, more laws than we can keep up with !The EU do not know
how to build banking trading
a sustainable European Economy, and a sound and honest system.
Britons under the circumstances should vote for exit we are then in full control of our
economy and banking system, which can be shaped to serve the whole world in due
course fairly and honestly! Our children can then be brought up into a culture of fairness
and honesty free from conflict, at least in our own nation and hopefully in due course
help all other nations into this more sustainable path!
It should be noted whether we are in or out of the EU we cannot help having
relatives and assets in any EU country. In the development of our world we must
exchange and use each other s ideas and special products. Trade barriers must
eventually be moved and a level, honest, sustainable banking system should be
established worldwide. What the EU Governments should understand is that we are one
world and eventually all barriers to trade must disappear, so we can help each other, live
in the safest of places and use our technology for peaceful purposes! Wars must cease
replaced by dialogue and common sense to solve the problems.
should readers do next?
The first thing that many people often say is you can’t change the world/or
system . This is untrue, and one good example is in printing. It has changed from type
setting letter by letter each word by hand to being fully computerised! In the 1960s the
author was using his Adana printing press, a simple hand machine. The maximum
productivity was 300 pages per hour, after setting up a page ready for printing! When
this book is on the internet you would be able to download this booklet in a few
minutes! There is no point in complaining and not doing anything to sort out the world’s
economic problems. If we want a more sustainable economy we must act and build one.
The author has used a lifetime’s experience (working and living in the world economy
at home and abroad) where he carefully observed the natural sequences that create our
economies. Generally speaking he has noted most citizens in countries are kind,
thoughtful and helpful and not greedy! These people are the majority and collectively
we do have the power to change our world into a more sustainable place to live! The
key to the process is to exchange the cost of our export products based on hours of work
(MH) for the products, instead of a distorted over valued or under valued currency!
Britain should buy and sell imports and exports from any country in the world. That
should be the basis of our trading deal/agreement. Europe should have set up the EU
trading system on this basis and, until it does, it cannot support its citizen’s in any form of truly sustainable economy.
Each of us should try and understand that present day governments are burying
us and businesses in unnecessary regulations and keeping us in an unfair economy
thereby causing considerable hardship for a very large sector of the world population.
Our governments are allowing the creation and use of weapons that are presently
destroying people’s lives and their nation’s infrastructure! They are not using the correct
form of dialogue to eliminate these conflicts. The author would be happy to help with
this major task. It is only by people coming together in larger numbers and supporting
the well thought through solutions that pressure can be brought on governments to adopt
a truly sustainable world trading system that is fair and honest, and that respects all humans natural rights!
governments are the biggest users of weapons and have supported the
industries making them. The use of these weapons is destroying nations.
This must cease and the financial resources saved should be used to
make good the damage, properly look after the migrants and help to rebuild their nations.
should be noted the author, a Chartered Civil Engineer, has been
Finally it should be noted we cannot change our Creator’s laws, but we can
change the laws our governments have created. There will be many people who could
have difficulty in understanding whether the purpose of The New Economy is
genuine, or sound. Therefore, we are also looking for active supporters to
build/implement "The New Economy" and guide those persons wanting to know more
about the system and why they should support it.
RODNEY A. FISHER