EUROPEAN OCCUPY CENTRAL BANK (EOCB)
- WE CAN HELP WHERE THE ECB CANNOT -
PRESENTATION AND MONETARY POLICY DECISIONS, DECEMBER 8TH
2011
Dear representatives of the European System of Central Banks, international press, international diplomatic corps, dear
fellow citizens in the euro zone.
In the current euro debt crisis it seems to be that the European Central Bank is the only remaining institution that can
ensure the solvency of the euro states effectively. However, their capacity is limited, because its mandate does not
provide financial assistance to states.
In this regard, we, the European Occupy Central Bank, will offer our support directly, by refinancing states in acute distress
and their fellow citizens.
What we provide today, here and now, is a direct injection of liquidity through our own long-term refinancing operation
(LTRO) and Bond Purchase Program. We issue our own currency, the "Occupy Global Currency-Units" (OGC) in form of
banknotes and digital book money.
Our LTRO includes a cash grant without tender process, without maturity, at 0% interest, and without the submission of
collateral. Also, we will purchase distressed government securities without condition. In a nutshell: We are giving away
money.
The resulting inflationary pressure can be counteracted as follows: Through a haircut on all bad loans, derivatives and
government bonds, issued/denominated in the established currencies (Dollar, Euro, etc.), also the claims opposed to
those debts will endure a haircut, through which the circulating money will be reduced severely, causing deflationary
pressure. In these circumstances, EOCB’s injection of its own currency can counter those pressures, stabilizing the amount
of money in circulation, preventing deflationary or inflationary tendencies, by which the EOCB will fulfill the ECB’s
mandate of price stability.
We would like to collateralize the OGC with real value, but we do not believe that this is primarily necessary, because even
the circulating legal paper and book money is hardly backed up by real value. And this system only works, because we as a
society collectively believe in its functioning – for now. Thus, in a practical sense, the OGC can likewise be trusted and
used.
A significant advantage of the OGC and the European Occupy Central Bank is: Everyone can refinance him/herself directly
though us: governments, real economy corporates and especially private citizens!
Banks are refinanced under the condition that they are fully brought to justice for their share of responsibility for the crisis
and for their harmful business practices; and if they are regulated in a sense that allows a flourishing of society and
nature, instead of its destruction.
The EOCB is primarily committed to the people of Europe. The financial sector, including the money supply, has to
primarily serve the people. This is the political philosophy, oriented to principles of ethics and moral, that the EOCB is
applying to. Therefore, all citizens can refinance themselves directly through us without condition. Because the common
people without personal guilt, have to suffer ultimately the effects of the crisis. And they must be helped!
These are the policy decisions of the EOCB as of today. Like the ECB, we are never pre-committed in the conduct of our
monetary policy.
The European Occupy Central Bank Frankfurt/Main, 08.12.2011
♥ > €
- WE CAN HELP WHERE THE ECB CANNOT -
PRESENTATION AND MONETARY POLICY DECISIONS, DECEMBER 8TH
2011
Dear representatives of the European System of Central Banks, international press, international diplomatic corps, dear
fellow citizens in the euro zone.
In the current euro debt crisis it seems to be that the European Central Bank is the only remaining institution that can
ensure the solvency of the euro states effectively. However, their capacity is limited, because its mandate does not
provide financial assistance to states.
In this regard, we, the European Occupy Central Bank, will offer our support directly, by refinancing states in acute distress
and their fellow citizens.
What we provide today, here and now, is a direct injection of liquidity through our own long-term refinancing operation
(LTRO) and Bond Purchase Program. We issue our own currency, the "Occupy Global Currency-Units" (OGC) in form of
banknotes and digital book money.
Our LTRO includes a cash grant without tender process, without maturity, at 0% interest, and without the submission of
collateral. Also, we will purchase distressed government securities without condition. In a nutshell: We are giving away
money.
The resulting inflationary pressure can be counteracted as follows: Through a haircut on all bad loans, derivatives and
government bonds, issued/denominated in the established currencies (Dollar, Euro, etc.), also the claims opposed to
those debts will endure a haircut, through which the circulating money will be reduced severely, causing deflationary
pressure. In these circumstances, EOCB’s injection of its own currency can counter those pressures, stabilizing the amount
of money in circulation, preventing deflationary or inflationary tendencies, by which the EOCB will fulfill the ECB’s
mandate of price stability.
We would like to collateralize the OGC with real value, but we do not believe that this is primarily necessary, because even
the circulating legal paper and book money is hardly backed up by real value. And this system only works, because we as a
society collectively believe in its functioning – for now. Thus, in a practical sense, the OGC can likewise be trusted and
used.
A significant advantage of the OGC and the European Occupy Central Bank is: Everyone can refinance him/herself directly
though us: governments, real economy corporates and especially private citizens!
Banks are refinanced under the condition that they are fully brought to justice for their share of responsibility for the crisis
and for their harmful business practices; and if they are regulated in a sense that allows a flourishing of society and
nature, instead of its destruction.
The EOCB is primarily committed to the people of Europe. The financial sector, including the money supply, has to
primarily serve the people. This is the political philosophy, oriented to principles of ethics and moral, that the EOCB is
applying to. Therefore, all citizens can refinance themselves directly through us without condition. Because the common
people without personal guilt, have to suffer ultimately the effects of the crisis. And they must be helped!
These are the policy decisions of the EOCB as of today. Like the ECB, we are never pre-committed in the conduct of our
monetary policy.
The European Occupy Central Bank Frankfurt/Main, 08.12.2011
♥ > €