Benefits of “CAPITALlessISM” includes the cancellation of most national debts and life sustaining types of personal debts (medical and educational costs). Options include repayment via the PONC bank or selling them off at fair market value. It would free many nations from high interest payments and austerity programs.

Additionally, a network of national community based cooperative economic systems would be established to reconfigure groups of entrepreneurs according to size; thus creating a cooperative enterprise. PONC bank would manage the operations and entrepreneurs could finance their businesses with their micro-share of their portions (fractional reserve banking). Individual shares would be calculated based on productivity potential. No home equity needed.

Although symbols to depict economic processes, e.g., functions of fluctuation, indicators of continuity, etc. are used, Horvath speaks in layman’s terms. He said, “We are aware that most people are not interested in fancy theories about the economy, let alone the mathematics of it.”

The graphic cover is eye catching and gives a glimpse to the cartoons and anatomical depictions used to capture Horvath’s complex ideas. The 680-page publication book is a combination of three books and offers a methodological approach to reading them. Book one contains an executive summary and overview. Book two discusses the legal grounds for reforms and secrets of free market forces. Book three covers the self sufficient national economy vs. interdependent globalized market economies.

Dr. Anthony Horvath is a former professor at the University of Quebec. He was also a journalist and a consultant. Currently he is the founder of Horvath Research & Development. In 1957, the Hungarian-born immigrant arrived in Canada to escape Communism. As an innovative leader in information system design, he perceives the economy as a huge financial information system.

I found this voluminous work absorbing and holding its posture throughout the explanations and illustrations, a task not easily achieved but done with skill. I would highly recommend “CAPITALlessISM” for anyone who wants to gain an in-depth understanding of his own personal financial standing as well seeking an insight into our nation’s economic engine.

Horvath is the first to admit that his ideas are not completely original. He has been inspired by several sources including Franklin D. Roosevelt’s “Second Bill of Rights,” Thomas Edison’s speculations about a commodity-based currency, and even the human circulatory system. Yet his synthesis of these various models is unique. At its core is the concept of working to eliminate the selfishness and greed that pervades the world’s economies and instead striving toward ways to truly help meet the needs of all people and nations. For example, the International Monetary Fund could be transformed into the International “Mothering” Fund, an organization that would help nations in crisis like a mother nurtures a fetus. And once the nation is again self-sufficient, it won’t slide back into economic instability because it will also not be required to pay back the funds that had been used to rescue it.

Horvath is passionate about his subject, and it shows in his writing. Like a good teacher, he uses a variety of methods such as cartoons, charts, equations, etc. to get his points across. Highly detailed yet very readable, his massive book offers much to think about.

Please you can see Ellen Brown publishing my opinions (in blue) on her blog and where I am making a direct reference to my book and our web-site. http://ellenbrown.com/2015/12/11/reinventing-banking-developments-in-russia-iceland-the-uk-and-ecuador/comment-page-1/#comments and you may see her very positive opinion about my comment (in green)

We did it from the government because we wanted it to be a democratic product. In any other countries, [digital currency] is provided by private companies, and it is expensive. There are barriers to entry, like [expensive fees] if you transfer money from one cellphone operator to another. What we have here is something everyone can use regardless of the operator they are using.

Banking Moves into the 21^st Century

The catastrophic failures of the Western banking system mandate a new vision. These transformations, current and proposed, are constructive steps toward streamlining the banking system, eliminating the risks that have devastated individuals and governments, democratizing money, and promoting sustainable and prosperous economies.

They also raise some provocative questions:

My COMMENTS…

Dr. ANTHONY hORVATH, on December 11, 2015 at 12:24 pm said:

thank God that several other authors think the same way!!!!!!!
I abound and quote your works in my book, a 680 page study
title :CAPITALlessISM, a MACRO-MODEL for a NATIONAL ECONOMY,by Dr. Anthony Horvath
So how could we reverse the crisis?
By financing the economy
è ==> using a new concept: with a NATIONALIZED artificial capital creation process, called “FRACTIONAL RESERVE BANKING’’ rights, then FRANCHISING it back to the BANKS… thus eliminating income taxes
è ==> using a PUBLIC-PRIVATE COOPERATIVE BANKING NETWORK PARTNERSHIP UNDER GOVERNMENT COORDINATION
è ==> REEVALUATING OR CHALLENGING THE VALIDITY OF NATIONAL DEBTS ON LEGAL GROUNDS
all explained in my book ….. I would be happy to publish on your site

Dr. ELLEN BROWN’S FAVORABLE RESPONSE to my comment

Ellen Brown, on December 12, 2015 at 3:38 pm said:
Interesting! That’s my vision as well. It’s also Scott Smith’s, the presidential candidate I just interviewed. See previous post. Thanks!

My comments to Ellen Brown’s radio interview with independent presidential candidate Scott Smith

http://prn.fm/its-our-money-with-ellen-brown-addressing-a-digital-divide-12-09-15/

Dr. ANTHONY hORVATH, on January 9, 2016 at 12:04 pm said:

dear Dan…. from Dr. Anthony Horvath, author of CAPITALlessISM….. https://capitallessism.com/ …..-1- the present private banking structure has to evolve into a Public-Private banking system… in harmony… -2- the present artificial capital creation process under private banks control, must become a public property licensed back to them. -3- the size of National debts must be reevaluated under certain new legalities. -4- Economy work with only with people in mind… the HUMAN FACTOR …. -5- Durable economic reforms may be achieved only peacefully with a certain elusive god-factor … without revolutions.

Dr. ANTHONY hORVATH, on December 13, 2015 at 8:08 pm said:

CAPITALlessISM, a MACRO-MODEL for a NATIONAL E-CONOMY,
by Dr. Anthony Horvath a 680 page study http://www.capitallessism (goggle)

Ecuador’s National Digital Currency system is the future model for a stable national E-CONOMY under a NATIONAL PUBLIC BANKING, where presently foreign bank controlled currency supply dominate the fluctuating trade. To insure stability (where there is a balance between production capacity and the survival consumerism capacity) the money supply has to be nationally created, distributed, its circulation monitored with precision in order to sustain balance. In our book, we envisioned the creation of such an E-conomy, i.e. a national electronic currency supply consisting of CMMs, Currency Movement Monitoring system, ‘BIT-BILL®, E-cash, E-bank concepts, E-cash, E-wallet, and piracy-proof virtual currency designs. The goal is to create an adequate currency supply, to stimulate its circulation, and to monitor its usage … and also to discourage counterfeiting and corruption

Reply

Lise, on December 14, 2015 at 5:34 am said:

Dr. Anthony …. why is it that the money supply has to be nationally created ? Why can’t the market participate in creating money supply that is of an asset origin and debt-free ?

Dr. ANTHONY hORVATH, on December 14, 2015 at 8:47 am said:

thank you for your very interesting question, …. national control over money supply creation should be a national process vs a privatized priviledge SOLELY UNDER the jurisdiction of private banks.
For two simple reasons :

-1- First, that governments, at least in principle, have an OVERALL assessment of the GLOBAL CAPITAL needs of the people, institutions and enterprises, while ”market interests” have only a FRACTIONAL view of these same needs. Consequently, governments must also have the corresponding OVERALL CAPITAL CREATION CAPACITY to sustain these needs in a nation. On the other hand, since ”market assessment of these same needs” are only a FRACTIONAL view of global human needs, (because they are biased by private interests from their own profitability perspective), they should also have at best, only a FRACTIONAL CAPITAL CREATION CAPACITY along with democratic governments. While profit perspectives are most important in a free enterprise society, they are nevertheless useless to determine the capital needs of non-profit oriented services.

-2- The second reason is that asset-based credit creation process is too restricitive. It presupposes that marketable assets exist already on which to consent a credit i.e. for new-capital. So in the absence of sufficient assets, it becomes too restrictive to the full development potential of those projects that cannot show an asset to obtain capital. So, because sufficient e-capital cannot be created by the traditional asset based ”market-oriented” virtual capital creation process we need innovative E-CAPITAL CREATIONS DESCRIBED IN OUR BOOK: CAPITAL-less-ISM, a MACRO-MODEL for a NATIONAL E-CONOMY.
this is why we suggest a NATIONAL FRACTIONAL RESERVE BANKING PROCESS, FRANCHISED TO PRIVATE BANKS BY GOVERNMENTS, under the jurisdiction of NATIONAL PUBLIC BANKS.
thank you for comments

Lise, on January 9, 2016 at 11:50 am said:
Dr. Anthony …. Where did you ever get the idea that asset based currency is too restrictive ? How can that statement be justified ?

Dr. ANTHONY hORVATH, on January 9, 2016 at 7:51 pm said:

Dear Lise …..thank you….. from Dr. Anthony Horvath, author of CAPITALlessISM.. https://capitallessism.com/
Originally, currency creation processes were based on gold reserves. i.e. the amount of currency issued were limited (restricted) by gold assets. i.e. the paper currency was equivalent to the gold reserves. Since this proved insufficient to produce enough ‘’paper’’ capital to sustain the war efforts of opposing nations, the concept of fractional reserve banking was introduced by banks in order to issue much more paper/credit capital than covered by the gold reserves. (… presently over 100 new virtual artificial dollars are issued for each one in the reserve…). But, today this process is still insufficient to cover the hyper-exponentially growing development-capital needs of the exponentially growing world population. This is a MATHEMATICAL EVIDENCE … so emerging nations need new capital creation concepts, instead of begging foreign investors for no-existent capital. So, ‘’asset based currency creation’’ seems to be outdated.
Consequently, we recommend in our book CAPITALlessISM ….that -1- the present private banking structure has to evolve into a Public-Private banking system… in harmony(not nationalized as leftists advocate) -2- the present artificial capital creation process under private banks’ control, must become a public property licensed back to them. So the new virtual-capital created should be a commodity based and a production potential based (not gold-reserve based) NATIONAL property -3- the size of National debts must be re-evaluated under certain new legalities. -4- Economy can work only with people and family needs in mind… the HUMAN FACTOR …. -5- DURABLE economic reforms can be achieved only PEACEFULLY with a certain elusive god-factor … without revolutions and the present RADICALIZATION TENDENCY.
thank you for your comments

Dr. ANTHONY hORVATH, on December 14, 2015 at 3:28 pm said:

thank you Lise, for your very interesting question, …. national control over money supply creation should be a national process vs a privatized priviledge SOLELY UNDER the jurisdiction of private banks.
For two simple reasons :
-1- First, that governments, at least in principle, have an OVERALL assessment of the GLOBAL CAPITAL needs of the people, institutions and enterprises, while ”market interests” have only a FRACTIONAL view of these same needs. Consequently, governments must also have the corresponding OVERALL CAPITAL CREATION CAPACITY to sustain these needs in a nation. On the other hand, since ”market assessment of these same needs” are only a FRACTIONAL view of global human needs, (because they are biased by private interests from their own profitability perspective), they should also have at best, only a FRACTIONAL CAPITAL CREATION CAPACITY along with democratic governments. While profit perspectives are most important in a free enterprise society, they are nevertheless useless to determine the capital needs of non-profit oriented services.
-2- The second reason is that asset-based credit creation process is too restricitive. It presupposes that marketable assets exist already on which to consent a credit i.e. for new-capital. So in the absence of sufficient assets, it becomes too restrictive to the full development potential of those projects that cannot show an asset to obtain capital. So, because sufficient e-capital cannot be created by the traditional asset based ”market-oriented” virtual capital creation process we need innovative E-CAPITAL CREATIONS DESCRIBED IN OUR BOOK: CAPITAL-less-ISM, a MACRO-MODEL for a NATIONAL E-CONOMY.this is why we suggest a NATIONAL FRACTIONAL RESERVE BANKING PROCESS, FRANCHISED TO PRIVATE BANKS BY GOVERNMENTS, under the jurisdiction of NATIONAL PUBLIC BANKS.
thank you for comments

Reinventing Banking: From Russia to Iceland to Ecuador – Thought Crime Radio, onDecember 13, 2015 at 9:46 pm said:
[…] http://ellenbrown.com/2015/12/11/reinventing-banking-developments-in-russia-iceland-the-uk-and-ecuad…

…. items of interest on “It’s Our Money” this week, Ellen Brown interviewed Independent presidential candidate Scott Smith, who has a clever plan for eliminating austerity, income taxes and the federal debt without creating inflation.

Dr. ANTHONY hORVATH, on December 11, 2015 at 12:11 pm said:

CONGRATULATIONS !!!!!!!! I share totally your views with my new book published a month ago
”CAPITALlessISM, a MACRO-MODEL for a NATIONAL ECONOMY”
author, ANTHONY HORVATH PHD.
An ANTI-AUSTERITY, and an ANTI-INEQUALITY proposal:
…ECONOMIC-DYNAMICS, the science of cybernetic capital flow
…..ECONOMIC ENGINEERING , its mathematical application
……..with the HUMAN FACTOR and the “GOD-FACTOR”
………..within a new PUBLIC-PRIVATE BANKING SYSTEM 514-867-2272

By reinventing the entire banking industry and by reinventing a new type of national currency (for circulation to link population needs to production capabilities in the nation) …. This can be done with a new public-private-cooperative banking structured network .. and by reinventing Edison’s commodity based currency … based not gold reserves but on commodities and production potential,( instead of the bank owned dollar). This new virtual currency system is similar to a national E-voucher system (activated through a wireless cell-system), outside of the present legal jurisdiction of private banks. This new E-cash currency system could be developed similar to a gigantic virtual barter system. So instead of private banks, we will have APPLE-BANK or GOOGLE BANK administering it under government supervision, Your personal production potential, could be linked up to an employment potential, linked up to a e-cash issued to you to sustain your survival consumer needs.
Thank you for your comments back.

Dr. ANTHONY hORVATH, on January 4, 2016 at 9:04 pm said:

Dear Ellen Brown…!!! public banking is the answer as you advocate it.
HOW TO PREVENT BAIL-INS, or BANKS TAKING OUR SAVINGS?
please read . in CAPITALlessISM by Dr. Anthony Horvath
https://capitallessism.com/
By reinventing the entire banking industry and by reinventing a new type of national currency (for circulation to link population needs to production capabilities in the nation) …. This can be done with a new public-private-cooperative banking structured network .. and by reinventing Edison’s commodity based currency … based not gold reserves but on commodities and production potential,( instead of the bank owned dollar). This new virtual currency system is similar to a national E-voucher system (activated through a wireless cell-system), outside of the present legal jurisdiction of private banks. This new E-cash currency system could be developed similar to a gigantic virtual barter system. So instead of private banks, we will have APPLE-BANK or GOOGLE BANK administering it under government supervision, Your personal production potential, could be linked up to an employment potential, linked up to a e-cash issued to you to sustain your survival consumer needs.
Thank you for your comments back.

So yes, people can do fantastic achievements collectively when they become aware of a commune danger. If I add the huge technical potential of the social networks …. we might have new financial institutions in short months like UBER-BANKS to counter traditional banks or like like APPLE-BANKS …. GOOGLE-BANKS …. a determined community may very well prevent bail-ins….
Thank you for your feedback

Dr. ANTHONY hORVATH, on January 13, 2016 at 9:02 am said:

dear R A FEIBEL and Johnraymondnolan, … yes, THERE IS HOPE!!!
From Dr. Anthony Horvath, author of CAPITALlessISM…..
https://capitallessism.com/
your descriptions of apocalyptic views of the economy are very real indeed and it is a wake-up call to all of us. We have all become too comfortable with the idea that from cradle-to-grave a good uncle Sam’s ”American way” will automatically take care of us and flourish our culture. Well. we cannot take it for granted !!!. …but only, a COLLECTIVE COMMUNITY TYPE AWARENESS is the beginning to react to these dangers.. It is the key. Thank God, for social media… our education level, instant information availability and human ingenuity… and an elusive ”GOD-FACTOR”. THE REST will come slowly by itself: PUBLIC-BANKING, COOPERATIVE ENTREPRENEURSHIP, COMMUNITY-SPIRIT OF MUTUAL NEIGHBORING HELP .under the guidance of our two thousand year old Judaeo-Christian Heritage. In ”CAPITALlessISM…..” we discuss the deep long-term effect of a CERTAIN ”GOD-FACTOR” ON THE ECONOMY.
Every economic-military dictatorship in history have collapsed under this mysterious ”God-factor” and under the ingenious human resistance awareness reactions :… the Roman-Empire, the Ottoman Empire, the British colonialism in India (with Gandhi), in Africa (with Nelson Mandela), Communism ….. But what took centuries because of the poor communication technologies and illiterate masses of people at the time might take only only a very short generation to react to these new forms of economic dictatorship.
WELL, I HOPE SO AT LEAST …. thank you for your comments