Your Own Currency

 

1. What does the centre of your town/city look like? Does its shops/cafes/restaurants resemble those found in other towns and cities? (Every UK town/city has the same chains, making it difficult to distinguish between different places) If it looks the same as every other town/city in your country, why do you think this is?

2. Do you prefer to give your patronage to local businesses, or do you appreciate the uniformity of service/product quality provided by national chain stores?

3. What form does your patronage take? Do you always lunch at a certain eatery, or recommend a certain tradesperson?

4. Have you always used your national currency when buying a product/service locally? What financial alternatives do people have available when money weakens as an exchange mechanism? Gold? Silver? Are these viable alternatives?

5. Read article here: Own Currency Reading

6. Would the idea of a local currency appeal to you? Why/why not? The Brixton (London) Pound has the image of David Bowie on its notes - who would you choose for your local currency?

7. According to you, what would be the minimum number of participating businesses needed to make a local currency worthwhile? How difficult would it be to get businesses in your area to adopt a local currency, do you think? What means would you use to promote it?

8. Bristol's Pound is app-based which allows for digital transfers to be made - given the travails of various cryptocurrencies, does a digital currency reassure or worry you?

9. How did people in your country feel about banks pre/post-2008? Would having local currencies address any of the lack of trust surrounding large banks? How important is it to know the bank manager at your local branch? How often do they change? Do you think it's a good policy to change the manager regularly?

10. Do you think that local currencies (if sufficient in number) might support the national currency in times of high inflation/economic downturn? Or might they undermine it?

11. Do you have/use loyalty cards? Where do you use them? Is your wallet/purse stuffed with them? Do you, like me, find them bothersome, and prefer to use straight cash instead? Does their usage clash with digital transactions as well?

12. Do you think schools should teach basic financial concepts? Would people be more careful of their financial situation if they knew more about how financial institutions work? Would that benefit the world economy? The economy of your country?

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Situation

You are currency expert Edgar Kampers. You are appearing on a radio show to promote awareness and the use of local currencies. Put forward your ideas and answer the host's questions.

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Discuss quotes

"The best way to destroy the capitalist system is to debauch the currency."

--- Vladimir Lenin

“Our greatest currency is our time and we cannot save it. Spend it wisely and never waste another's or your own.”

― Kyle Barger

“The world can run without money and currencies but not without business and trade.”

― Amit Kalantri

“Treat others with respect and you will always be wealthy, because your community is your real currency.”

― Bryant McGill

“Money frees you from doing things you dislike. Since I dislike doing nearly everything, money is handy”

― Groucho Marx

Student Handout here: Own Currency

Photo: Cottonbro Studio

Financial Crime: Robin Hood

 

1. What do you know about Robin Hood? Give a brief synopsis of his life with the following words: Sherwood Forest, the Sheriff of Nottingham, to rob, rich/poor, a man of the people

2. Has your country had any 'Robin Hoods'?

Read article here: Robin Hood Reading 

3. What was your reaction to the article? Is Duran irresponsible?  Do you think he is genuine, or has he got caught up in something that is beyond his control? Does his anti-capitalist movement not understand how the world works? Or are they going to be the catalyst that will lead to fairer financial outcomes?

4. Duran called what he did an act of 'financial civil disobedience'. What would a bank manager call it?

5. Where do your sympathies lie? With the banks or Duran?

6. How can banks effectively screen for fraudulent loans such as Duran's? Should all loan applications come with a series of questions about your politics? Should banks have knowledge of your other demands for loans?

7. His lawyers' primary defence was that people cannot be imprisoned in Spain for not paying their debts. What is the situation in your country? Can you be imprisoned for not paying your debts?

8. Duran fled Spain in 2013 because he feared the 8-year jail sentence that the prosecutor wanted to impose. Would you ever consider leaving your country in order to support a cause?

9. In 2014, Duran joined the movement 'Faircoop'. Faircoop's policies are based on using cryptocurrencies as a means of addressing global inequalities. Do you think that cryptocurrencies will lead to greater equality and new economic systems? Do you own/use any cryptocurrency? Would you?

10. How easy is it to borrow money in your country? Money lending in the UK is big business - personal debt is encouraged by numerous financial institutions - the recent measures against Covid have only increased the trend of borrowing.

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Situation

You are the hard-nosed Spanish judge appointed to hear the initial court hearing of Enric Duran. His representative is a recently qualified lawyer (your teacher) who thinks that Duran's case should become a 'cause célèbre'. Decide whether the case should be dismissed or sent to a higher court.

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Discuss quotes

"A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain."

--- Robert Frost

"I was mischievous. I wasn't bad. I stole food so we could eat. My mother didn't know. I used to tell her some man gave me $10 to sweep out the yard. I was like Robin Hood. I took from the rich and gave to the poor. Me."

--- Mr. T

“Currency is like God, it exists as long as people believe in it.”

― Abhijit Naskar

"It’s a fraud” and “worse than tulip bulbs” (speaking of cryptocurrency)

 – Jamie Dimon, CEO of JP Morgan Bank

"Before borrowing money from a friend it's best to decide which you need most."

---Joe Moore

Student Handout PDF: Robin Hood

Photo: Mihail Nilov

Tax Working From Home

 1. How many different types of tax do you pay? Which one do you resent paying the most? Does your country have any unusual taxes? (e.g. the UK's window tax)

2. "Civilisation starts with paying taxes". Do you agree? Why?

3. Do you work from home more now than you did before the arrival of Covid-19? Was that your choice or the employer's? Has working from home resulted in you saving money? In which areas?

4. Would you be happy to pay slightly more tax from the money you have saved if the money was redistributed fairly?

Read article here: Tax Working From Home Reading

5. Why does Deutsche Bank want people to pay more tax? Choose one from the below:

a) They're a caring, sharing kind of organisation which wants to help others.

b) They own a lot of commercial office space in central London which is now empty.

6. If your government introduced such a scheme, what could you do as a way of expressing your discontent? Tell me about changing banks (assuming you are with Deutsche), refusing to pay the tax, civil disobedience, organising petitions etc.

7. Have any taxes been successfully repealed in your country? (e.g. UK poll tax)

8. Is 2020 a time for more taxes or less? How will economies recover from the pandemic?

9. Will working from home lead to even more outsourcing of work to 'third-world' countries? (e.g. call centres in India)

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Situation

You are a green-activist shareholder at Deutsche Bank who is against these new proposals. Attempt to persuade fellow shareholder (your teacher) of the wisdom of your arguments.

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Discuss quotes

“I hate paying taxes. But I love the civilisation they give me”

― Oliver Wendell Holmes

"A government that robs Peter to pay Paul can always depend on the support of Paul"

---- George Bernard Shaw

"Elections should be held on April 16th- the day after we pay our income taxes. That is one of the few things that might discourage politicians from being big spenders."

---- Thomas Sowell

“When you work from home there is no such thing as a holiday.”

― Anthony T. Hincks

"Next to being shot at and missed, nothing is really quite as satisfying as an income tax refund.”

 — F. J. Raymond

Student Handout PDF: Tax Working

Photo: Nataliya Vaitkevich