UNDER 0.8 € Billion DEBT

By Marc Gauvin in Support of the Passive BIBO Project


Copyright 18/10/2013

Reproduction expressly granted provided attribution and original link is provided


Fagor the founding industrial entity for the world's most successful labour based cooperative goes bankrupt unable to support 0.8 billion euro debt and will be sacrificed by the now greater conglomerate Mondragon Corporación Cooperativa (MCC).  This is proof that an optimal model of cooperative activity cannot surmount the impact of an unstable and logically absurd money system that is ravaging the planet.  The reality is that labour cooperatives,  by optimizing the redistribution of income, can stave off but not eliminate the inevitable outcome of the current financial system design.  

This should serve as a lesson to all those who continue to contemplate "reshuffling" strategies within a broken system that obeys neither logic nor any principle of rational measure.   We are all hostages of a false paradigm whose only outcome is to bankrupt humanity to the benefit of a few. 

Breaking out of this false paradigm can only occur when sufficient numbers understand not only that the system is irrational but also exactly why.  It is not hard to grasp once you realise that the fallacy lies in using money as both a measure of "economic value"  as well as a scarce commodity of variable "economic value".  This proposition is literally insane and in our ignorance we have assumed some rhyme or reason to it all, but under logical scrutiny there is none.  For more on this see this presentation and read this book.  For a rational logically consistent treatment of money see:  www.bibocurrency.com.


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