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Articles by njhaering

The left debating basic income

August 4, 2022

From Norbert Häring
Universal basic income has a lot of support among the left but also faces a lot of criticism or even hostility from the left. As on of the critics of I have used a book defending basic income against criticism from the left to check my beliefs against counter-arguments from the same side of the political spectrum and to clarify the reasons for not being convinced.
One of Karl Reitter’s arguments in his book “Kritik der linken Kritik am Grundeinkommen” has indeed convinced me of something that was not fully clear to me before. The neoliberal representatives of basic income, who want to abolish all or almost all social benefits in return for the basic income, are indeed a relatively small minority that has managed to dominate the discussion in the media. If one calls

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World Economic Forum touts Bitcoin as a tool against global warming

June 24, 2022

From Norbert Häring
With its Great Reset, the World Economic Forum, the lobby of the world’s largest corporations, supposedly wants to save the world from climate collapse. With a contribution on protecting the climate through Bitcoin, the powerful organisation proves- once again – that distrust is called for when it comes to corporate commitments to social goals. Greenwashing is the order of the day.
Scandalously, the World Economic Forum is recognised as an international organisation, like the Red Cross, not least because of the UN’s dependence on corporate money. As such, it does not sit in the ranks as a lobby iwhen the supposed international bodies discuss how save the world, but sits at the table.
There already indications, that the greenwashing of the Forum will influence policy

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Defense contractor Thales calls digital vaccination passes “precursor” to universal digital identification

August 31, 2021

From Norbert Häring
Thales, one of the largest international defense contractors, calls the digital vaccination passport a precursor to universal mobile-digital identity credentials. Thales thus confirms my analysis and my worst fears.
Under the headline “How digital ID can help citizens access government services from anywhere,” Kristel Teyras, in charge of the defense contractor Thales’ Digital Identity Services portfolio, writes:
“So-called digital ‘vaccination passports’ will play a key role in enabling citizens to access all manner of services and will act as a precursor to the rollout of mobile digital IDs.”
The pandemic, she writes, has acted as a catalyst for a major shift in consumer behavior, toward the widespread digitization of public and private services. On the role of

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Cash industry association slams banks’ war on cash

June 16, 2021

From Norbert Häring
The hypocrisy of a working group led by the European Central Bank (ECB) on the preservation of cash, which is dominated by banks who at the same time continue to wage their war on cash, has been exposed by cash industry group ESTA in a report. ESTA sent the report to this working group – after it had recently left it in protest.
As a part of its cash strategy, which the ECB Governing Council adopted last September and which it has been hiding in the depths of the ECB’s website since December, the ECB has tasked a working group of the European Retail Payment Board (ERPB) with producing a report on securing access to and acceptance of cash. The ERPB is an ECB-led advisory group. Members are representatives of banks and other associations involved in payment

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Corona as opportunity for a restart

February 7, 2021

From Norbert Häring
Merkel, Macron, von der Leyen and other international leaders have described the Corona crisis as an opportunity to reorder world politics on the basis of multilateralism. The timing, shortly after the World Economic Forum’s meeting, and the echoes of the Great Reset proclaimed by the forum, are probably no coincidence, as an analysis of key passages will show.
In a joint plea printed in a number of important international newspapers, António Guterres, Ursula von der Leyen, Emmanuel Macron, Angela Merkel, Charles Michel and Macky Sall call for “Multilateral cooperation for Global Recovery”
Guterres is secretary-general of the UN. As a member of the “World Economic Forum Global Agenda Council on Humanitarian Assistance,” he has co-written texts with such fine titles

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All the good things a digital euro could do – and all the bad things it will

December 16, 2020

From  Norbert Häring and current issue of RWER
On 2 October, the European Central Bank (ECB) announced in a press release that it intends to intensify its work on a digital euro. The ECB enumerated three scenarios under which it might want to issue a digital euro: (i) a sharp decline in the use of cash, (ii) “he launch of global private means of payment that might raise regulatory concerns and pose risks for financial stability and consumer protection” (read: Libra), and (iii) a broad take-up of central bank digital currencies (CBDC) issued by foreign central banks (read: digital yuan).
With a digital euro one could, if one wanted and was allowed to, actually do some good, namely:
create a supplement for cash that protects privacy better than other digital means of payment,
give

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Cash industry association ESTA contradicts EU Advocate General on the right to pay in cash

October 27, 2020

From Norbert Häring
ESTA, the association of European cash management companies, has published a position paper contradicting the assessment of the EU Advocate General of my case before the European Court of Justice regarding the right to pay my broadcasting fee with the legal tender, cash.
The opinion of the Advocate General is a recommendation to the highest EU court. The Advocate General has more or less adopted the anti-cash stance of the EU Commission. The Board of ESTA, in its opinion adopted on October 26, takes offence at the Attorney General’s assessment that private parties could, without meaningful restrictions, agree by explicit or implicit contractual agreement on a means of payment other than legal tender:
A limitation of legal tender based on contractual agreement, the

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Perfecting the automated surveillance of the world’s population.

September 28, 2020

From Norbert Häring
The President of the EU-Commission plans to give all EU citizens a European digital identity which can “be used anywhere in Europe to do anything from paying taxes to renting a bike”. She wants to implement for Europe what ID2020, the World Economic Forum, the World Bank and Homeland Security are pushing worldwide – to perfect the automated surveillance of the world’s ppopulation.
In Ursula von der Leyen’s speech on the State of the Union on September 16, an important announcement was lost due to the attention given to a tightened climate target. The President of the Commission said:
We want a set of rules that puts people at the centre. Algorithms must not be a black box and there must be clear rules if something goes wrong. The Commission will propose a law to

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In the middle of a pandemic, the World Bank wants slum dwellers to lose their water supply

August 13, 2020

From  Norbert Häring
Developing countries are trying to contain the corona pandemic under the most adverse conditions. In the middle of this, the World Bank is proposing that the water supply of slum dwellers be cut off, if their landlords do not pay the water bill. It is an inhumane philosophy of development that is behind such monstrosities.
For about two decades, the World Bank’s philosophy has been “sustainable development”; “sustainable” in the sense of profitable in the long run. Wherever possible, development work should be carried out in partnership with private companies and their foundations, because only if some corporation can earn money sustainably from development policy will enough money flow in to make a lasting difference. The derivation from this is to privatize and

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The World Economic Forum is planning the “Great Reset” to prevent it from happening

August 1, 2020

From Norbert Häring

According to its own description, the World Economic Forum is “THE international organisation for public-private cooperation” and has as its main objective “to improve the state of the world”. The foundation, founded in 1971 by German economist Klaus Schwab, lacks neither power nor self-confidence. For years now, almost all the world’s major heads of government have made the pilgrimage to the annual meeting in Davos to pay their respects to multinational corporations and billionaires.
The World Bank, a close collaborator of the Forum, has made it a strategy to only support development projects that the member companies of this club can earn money from. The United Nations (UN) have been made highly dependent on the money of the corporations and can do practically

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Rockefeller Foundation keeps working on their autocratic Lock Step scenario

July 13, 2020

From Norbert Häring
Ten years ago, the Rockefeller Foundation published the eerily prescient, autocratic Lock-Step-Scenario and, apparently, has been working to make it true. The most recent initiative in this regard is a cooperation of the Rockefeller-funded GAVI immunization alliance with Mastercard and a biometric ID company named TrustStamp.
Before getting to this cooperation, let me briefly remind you of a selection of the assumptions of the Lock Step scenario builders have made their choices 10 years ago:
A virus pandemic with high contagion and high mortality
Non-authoritarian response of US-government fails
Authoritarian Chinese approach works much better
Other nations emulate authoritarian, high surveillance Chinese approach
Endurance of more authoritarian rule after pandemic

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Economic faculties in turmoil over an editor’s alleged racism and an article’s colonial attitude

June 29, 2020

From Norbert Norbert Häring
A turmoil has engulfed the faculties of economics at the University of Chicago and Harvard. A German economist was first suspended on accusations of racism in Chicago, then rehabilitated. An article in Harvard’s flagship Quarterly Journal of Economics (QJE) is accused of a colonial attitude. The authors justify themselves.
The article describes how a German economist, Harald Uhlig,caused a vritable shitstorm, fuelled not least by Paul Krugman and Justin Wolfers, Even the former president of the US Federal Reserve and current chair of the American Economic Association, Janet Yellen, demanded publicly that Uhlig be relieved of his role as editor of the prestigious JPE, after Uhlig had made a number of callous remarks and provocative comparisons on his blog and

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World Economic Forum totalitarian surveillance fantasy will soon become reality

June 24, 2020

From Norbert Häring

From March 2021 people with an “I’ve got nothing to hide” attitude will be able to get around border and ticket controls at St Pancras International Station in London on their way to the Continent via the Eurostar, All they will have to do is upload a suitable portrait photo and a copy of their identity document to a government server. Then, instead of standing in a queue, they can walk down a camera-tagged “biometric corridor” without having to show a document. The passport and ticket will, however, be needed at the destination, at least until the brave new total surveillance world of the World Economic Forum has been implemented there, too.
The Known Traveller Program, which has been jointly developed by the World Economic Forum and US Homeland Security,

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Sudan to be used as guinea pig for cash abolition, universal basic income and total surveillance

June 15, 2020

From Norbert Häring
Sudan has a transitional government that depends on the goodwill of the USA. This is an opportunity to use the country for the largest field trial to date, to put an entire population on the digital leash through cash abolition and a universal basic income.
For several years now, the World Bank, Better Than Cash Alliance and various UN organizations have been massively promoting and advertising the purely digital transmission of financial aid for the needy in poor countries. Declared goals are cost savings and prevention of corruption and theft, as well as “financial inclusion”. The latter is the real reason, but not in the harmless meaning of giving everyone the chance to get a bank account, but in the meaning of “bringing everyone into the system”, as the head of

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Taxpayers bailing out capitalists

June 11, 2020

From Norbert Häring

In Germany and beyond, public policy in response to the Corona crisis operates with
an unspoken basic assumption: the claims of capital are sacred.
This is unfair and economically unreasonable.
German economists largely agreed on how not to deal with the corona crisis. Sending a cheque to all taxpayers, as the US government did, is considered an unsuitable anti-crisis measure. After all, the 1200 dollars were too little for 30 million who lost their jobs within a few weeks, and unnecessary for the others who were supposed to stay at home anyway and not go shopping.
Instead, the German government, to roaring support of German economist, decided to lower the value added tax for half a year, starting in July. Few of the arguments against Trumps consumption checks

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Lock Step: How the Rockefeller Foundation wants to implement its autocratic pandemic scenario

May 28, 2020

From Norbert Häring
Ten years ago, the rich and powerful Rockefeller Foundation played through and favorably described a scenario in which a pandemic would lead to autocratic forms of government with total surveillance and control of citizens. Now it has published a pandemic plan to make this scenario a reality.
According to the preamble by the President of the Foundation, it took two weeks to set up and edit this plan, implicating a large number of “experts and decision-makers from academia, business, politics and government – across industries and political ideologies” and publish it in glossy on April 21, 2020, under the title “National Covid-19 Testing Action Plan: Pragmatic steps to reopen our workplaces and our communities”.
I became aware of this plan through a German

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How to drop helicopter money correctly

May 27, 2020

From Norbert Häring
Distributing additional money to stimulate demand is seen by economists as a recipe for boosting demand in a crisis. But you have to do it right, not like Donald Trump did it.
In response to the corona crisis, US President Donald Trump had consumption cheques with his signature worth 1200 dollars sent to all citizens. This bears a strong resemblance to an anti-crisis recipe of economists, which has been known as helicopter money since Milton Friedman coined this term. You just let money rain down, and demand will automatically pick up again.
According to the basic concept of helicopter money, it would be the central bank which puts the additional money into circulation. In the current case, however, the money does not come straight from the central bank Federal

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The totalitarian dystopia of the World Economic Forum is becoming reality

April 17, 2020

From Norbert Häring
In January  2018, a pilot project for the surveillance of air travelers, commissioned by the World Economic Forum, was agreed upon in Davos. At the time, I presented the Known Traveller Digital Identity (KTDI) project as a “totalitarian dystopa”. A follow-up report shows that the multinational corporations are successfully involving governments and the EU in their plans. Covid-19 is speeding up implementation tremdendously and Bill Gates inadvertently lets us know how.
Like the 2018 report called „”The Known Traveller: Unlocking the potential of digital identity for secure and seamless travel“ this more technical KTDI White Paper that goes by the title “Known Traveller Digital Identity Specifications Guidance” was published without any fanfare on the Internet  in

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Problems of index fund capitalism

February 9, 2020

Fro Norbert Häring
If the trend of the last two decades continues, index funds could control 40 percent of the voting rights in the largest corporations by 2040.The share is already up to 25 percent in the US. There a two perspectives on this. Some scholars say it threatens shareholder value, others fear it will lead to too much of it. I side with the latter. …
Law-and-economics professors Lucian Bebchuk and Scott Hirst from the Universities of Harvard and Boston make the extrapolation of the index funds share in votes in their paper “The Specter of the Giant Three”.
The concentration of shares in an ever smaller number of fund companies is a trend that has started roughly 70 years ago. In 1960 only about six percent of US shares were held by capital management companies. This share

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Anti-Cash-Alliance suffers setback in their home-town New York

January 27, 2020

From Norbert Häring
The Better Than Cash Alliance (Visa, Mastercard, Citibank, Bill Gates, USAID) coordinates the global war against cash from New York. Now, the city council of the headquarters of the Alliance has decided to oblige all brick and mortar stores and restaurants to accept cash. The justification of the regulation is a low blow for the alliance’s financial inclusion propaganda.
According to a USA-Today report, retail stores, restaurants, and bars will have to accept cash in the future. The new regulation gets in the way of a program of credit card company Visa, which is paying restaurants for going completely cashless.
Visa is one of the founding members of the Better Than Cash Alliance, which aims to eliminate cash worldwide. The alliance is based in New York. With

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How international corporations could be taxed, and why the US is working to prevent it

January 10, 2020

From Norbert Häring
The OECD and the EU want to change international tax principles to curb tax evasion. The United States is opposed to the plans as they would affect its internet companies and other US multinationals.
The US has stepped up its fight against taxes on digital corporations. Shortly after President Donald Trump’s threat of special tariffs on French goods, US Treasury Secretary Steven Mnuchin asked all countries in early December to abandon similar plans for taxes that would hit US internet corporations in particular. In a letter to the industrialized country organization OECD, Mnuchin stated that an agreement should instead be reached at the OECD level. At the same time, however, he warned of changes to the taxation right, which this same OECD has been planning to

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What the German government must do now to turn around an unsustainable economy

August 18, 2019

From Norbert Häring
Germany’s economic output contracted in the second quarter and most indications point to a worsening in the third quarter, which is just halfway through. The culprit is only superficially Donald Trump with his trade wars. The German economy has been on an unsustainable path in several respects. Now the government is called upon to act courageously and intelligently to ensure that a deep restructuring crisis is avoided.
The German success model was not sustainable because it ignored the limits of the rest of the world’s ability to borrow money to pay for German exports and because it omits the fact that we are already very close to the limits of the ecological resilience of our planet.
As far as economic limits are concerned: In the long run it is not feasible that,

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European Court of Justice to decide if public institutions have a right to refuse cash

March 30, 2019

From Norbert Häring
On 27 March, the highest administrative court in Germany, the Bundesverwaltungsgericht, has referred my case to the European Court of Justice (ECJ) in Luxembourg. I have insisted to pay my legally required contributions to public radio and TV with the legal tender, euro cash. This is not possible according to their regulations. The Bundesverwaltungsgericht has ruled that there is indeed a requirement for all public institutions to accept cash based on §14 of the Bundesbank Act, which makes euro-banknotes legal tender. However, they will ask the ECJ to clarify, if this law is in agreement with higher ranking European law.
§14 Paragraph 1 Sentence 2 of the Bundesbank Act says:
“Banknotes denominated in euro shall be the sole unrestricted legal tender.”
Article 128

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How monetary union is sacrificed on the altar of competitiveness

January 25, 2019

From Norbert Häring
European Economic & Monetary Union (EMU) is in permanent crisis. The economic strengths of the participating nations are drifting apart instead of converging. This creates great frustration among the governments of countries being left behind and fierce disputes between them and Brussels and governments of core countries.
The currency union was based on the premise that the economic structures and levels of prosperity among the members of the union would converge. The poorer countries would catch up. That didn’t happen. On the contrary. Philipp Heimberger from the Vienna Institute for International Economic Studies (WIIW) warned in his analysis of October 2018:
“The most significant long-term risk of disintegration for the euro area is the existing polarisation in

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A leading economist who took Uber’s money and delivered favorable results sees his reputation tarnished

November 15, 2018

From Norbert Häring
A year ago, I described how the controversial and well-financed ride-hauling platform Uber pays economists with data and money to do Uber-related research. This research invariably leads to favourable results, which can be used to fend off criticism and regulation. One such study has now been ripped apart in the Industrial & Labor Relations Review (ILR), a top journal in labor-economics.
Two fearless economists, Janine Berg, senior-economist at the International Labor Organisation (ILO), and doctoral candidate Hannah Johnston submitted an extremely critical comment on a paper by Uber’s chief economist Jonathan Hall and Princeton economist Alan Krueger, which portrayed Uber as a good company to work for and its “driver-partners” as very satisfied and earning good

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Demonetisation in India was a great success – for the Better Than Cash Alliance

November 10, 2018

From Norbert Häring
Two years ago, on 8 November 2016 at 8 pm, prime minister Narendra Modi declared most cash in India demonetised, starting a period of several months of severe cash shortage, which imposed a lot of hardship and suffering on the people. The National Herald India invited me to write a guest-comment on the occasion.
I have been invited to write a comment on the ‘failure’ of the Demonetisation exercise of Prime Minister Modi. True, it was an obvious failure if you judge it by its declared objective of fighting corruption, terrorism funding and tax dodging. Almost all the demonetised banknotes were deposited in banks and thus re-inserted into the legal economy. It was a failure also if judged by the secondary goal of promoting financial inclusion. Rather than helping the

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Brave New Money: The trend toward a digital world currency – part 2

August 27, 2018

From Norbert Häring                                                                                              part 1
The winner takes all is a basic rule of the digital economy. Whoever is ahead has a large advantage, just from being ahead, and has a good chance to end up as a quasi-monopolist. This has two main reasons, called network effects and economies of scale. Network effects make digital services more attractive, if more people use them. This is true for social media or trading platforms as well as for computer programs like Word or Windows. Economies of scale arise, because once a digital service or a programme has been developed, it often costs next to nothing to provide it to more customers. Thus, the leader, who has the most customers, can offer the most attractive

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Brave new money: PayPal, WeChat, Amazon Go – A totalitarian world currency in the making – Part I

August 23, 2018

From Norbert Häring
My book in German with the translated title: “Brave New Money: PayPal, WeChat, Amazon Go – A Totalitarian World Currency in the Making” has just been published by Campus. I have tanslated the “Introduction and Overview” and part of Chapter 1. I will publish this translation in two parts over the next few days. This is part 1.
The future of payments has arrived in early 2018, when the first Amazon Go store opened its gates for the general public in Seattle. If you shop there, you will not have to queue at the cash register. There is none, thanks to – as Amazon calls it – the most modern shopping technology. You just download an app and sign on before entering the store. Then you freely take everything you want from the shelves and put it into your shopping bag – or

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CEPR vs. NBER: Two approaches for dealing with false research in favor of tuition fees

February 23, 2018

From Norbert Häring
For international readers, I would like to summarize a piece on false economic research supporting tuition fees, which appeared in German in Handelsblatt on 19 February. As interesting as the fake research itself is the differing reactions of the two main channels, which had been used to publicize it: One was the prestigious Working Paper series of the National Bureau of Economic Research in the US The other was the well-read platform Vox (voxeu.org) of the London-based Centre for Economic Policy Research.
Britain started to impose tuition fees starting in 1998. From 1000 GBP, at first just for the wealthier students, the fees went up steeply to 9250 GBP for all students today. On average, graduates leave university with about 50.000 GBP in debt. With Jeremy Corbyn

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George Soros’ INET, the Trojan horse of the financial oligarchy

February 7, 2018

From Norbert Häring
Four years ago, I framed it as a question: “George Soros‘ INET: An institute to improve the world or a Trojan horse of the financial oligarchy?” Today I would not use a question mark any more.Frances Coppola came to a similiar conclusion after attending the big INET gathering in Edingburgh in October.
On her blog Coppola reports about the conference of the Institute for New Economic Thinking, bankrolled initially by George Soros. He was joined by other hedge fund managers to provide this institute with extremely lavish funds. Do read Coppola’s entertaining conference review in the original, if you have time.
She reports of “panel after panel of old white men discussing economic theories developed by old white men, many of them dead. Economic beliefs that I thought

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