“Something is wrong with the global financial system. International financial crises or near-crises have become regular events… The question is not whether there will be another crisis, but where it will be.”
—Nobel Laureate Joseph Stiglitz, 2003
It couldn’t be better timing. I’m reading New Money for a New World, a forthcoming book by economist Bernard Lietaer and co-author Stefan Belgin that examines the systemic failures of our current money system. Meantime, U.S. politicians are offering up drama, paradox, contradiction and befuddlement as we tumble toward the prospect of defaulting on our nation’s debt.