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The end of money as we know it (Video)

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posted on May, 12 2011 @ 06:02 AM
Franz Hörmann (* March 23 1960 in Vienna ) is Associate Professor of Accounting at the Institute for Auditing, Trust and Accounting at the Vienna University of Economics and additionally since the winter semester 2001/2002 Visiting Professor at the Institute of computer science (Communications Engineering) of the Johannes Kepler University Linz .

Franz Hörmann criticized the existing financial system . He holds a relevant paradigm shift in both the economics as well as in society as a whole respects necessary. His criticism is directed against the system of compound interest and the double-entry bookkeeping , which in his opinion it is out of date models. He criticized the creation of money , the existing system of banks in 2009 and predicted the disappearance of the currencies already in 2011. To be able to cope with this transition, he called for "specialized electronic vouchers" a transitional phase from in and favored an unconditional basic income in the form of goods or services.


edit on 12-5-2011 by ckno1 because: (no reason given)

posted on May, 12 2011 @ 06:40 AM
what he is talking about needs one hundred years more to develop.
Nobody!! that has more money then the most of usual people will agree to this idea.
Money is POWER and NOBODY gives his power away without fighting.

I like the Idea but my son's son maybe can/will live in NO MONEY World, but...
never ever this is going to happen in the next 100 years, no way!!!

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