ABSTRACT
This chapter explores the complex relationship between central banks and the financial markets, especially once gold has been relegated to ornamentation under the heading of auditorial central banking. The point dappui of associative economics begins in the big pictures of a single global economy, autonomous economic governance and the expectation precisely at this juncture in history of too much capital. The stage is now set to proceed from the big picture to the details of associative economics, especially to Rudolf Steiner's monetary analysis, for it is here that a way opens up for the exercise of individual financial sovereignty. A world reserve currency is a proto-global currency. The world's currencies are in effect an articulated world currency, which exists without the artifice of a world central bank. One thing the global financial crisis ought to result in, therefore, is an explosion of financial literacy, a huge increase in the education of everyone, but especially young people, in how finance works.
