22 As quoted in: Rowbotham, Michael. The Grip of Death: A study of modern money, debt slavery and destructive economics. John Carpenter Publishing: Oxfordshire, UK. 1998. This is an important point which I will return to later.
23 McMurtry, John. The Cancer Stage of Capitalism. Pluto Press, 1999.
24M==>M* is the creation of money - claims against production- independent of the productive process itself
25 Lietaer, Bernard. "Beyond Greed and Scarcity " Yes! Journal of Living Economies. Issue #2 www.futurenet.org
26 National territorially homogenous currencies are currencies that are defined by national boundaries: one state, one currency. In this sense, currency spaces are determined largely by geography.
27 Helleiner, Eric. Nation-States and Money: The Past, present and future of national currencies. Routledge Publishers, New York: 1999.
28 Cohen states that seigniorage is technically defined as the excess of the nominal value of fiat currency over its cost of production. It can also be defined as the tax on cash holdings vis-à-vis the process of inflating the value away.
29 Liu, Henry C. "China vs the almighty dollar". Asian Times. www.asiantimes.com
30 As quoted in Rowbotham. (p.35)
31 As quoted in Rowbotham (p.35)
32 McMurtry, John. (2002). P.132.
33 "The monopoly power of states has been replaced not by anarchy, but by the invisible hand of competition. The authority that once derived solely from legal tender laws and other political interventions has come to be embodied more in the norms and expectations that rule the Darwinian struggle among currencies. The power of governance, in short, now resides in that social institution we call the market. But that still leaves us with the underlying question: Who in the market governs? . . At least two sets of actors are involved here - the producers of money on the supply side, the users of money on the demand side. Who really is in charge? (Cohen, p.146)."
34 Gill, Stephen. American Hegemony and the Trilateral Commission. Cambridge University Press, New York: 1990. p.4
35 Sklair, Leslie. "The Transnational Capitalist Class and the Discourse of Globalization". London School of economics Dept. Of Sociology discussion paper. www.lselacluk/collections/globalDimensions/globalisation/theTransnationalCapitalistClassAndTheDiscourseOdGlobalisation/default.htm
36 Robinson, William I. And Harris, Jerry. "Towards a Global Ruling Class: Globalization and the Transnational Capitalist Class". Science and Society. Vol. 64, No.1, 2000, (p.11-54).
37 Cox. Robert. "Political Economy and World Order" in Stubbs & Underhill. Political economy and the Changing Global Order. Oxford University Press, Toronto: 2000. p.28.
38 Harris, Robinson: no page number (HTML format).
39 The Washington Consensus is the globalist neoliberalism first launche by Margaret Thatcher and Ronald Reagan, characterized as an economic model centered on freely moveable capital, privatization, liberalization of financial markets, and preaches a rhetoric of free trade, free markets, privatization and 'getting the government out of the business of being in business'.
40 McMurtry, John. "Why is there a war in Afghanistan?". Science for Peace Lecture, University of Toronto.
Be Sure to Continue to Page 15 of "E Pluribus Unum: Dollar Hegemony and Money Creation in IPE".