Empowering Local Economy Champions: A Roadmap Towards Financial Equity.
Banks have been the backbone of economies since their inception, taking deposits and lending them to those who need funds. In today's interconnected world, their role has evolved beyond mere safekeeping and managing customer savings. Banks now provide returns to savers, offer credit to businesses, give mortgages to home buyers, facilitate payments, and settle foreign exchange transactions, among other tasks.
Indeed, the banking industry plays a pivotal role in the global economy, managing savings, providing credit, and promoting investment. However, the chase for profit often leads them to resist innovative ideas that might disrupt their established profit models. As the global socio-economic inequality intensifies, the urgency to focus on the real economy becomes paramount. This can be achieved by reclaiming citizens' money that has been appropriated by the system to lessen wealth disparity.
Several groups and individuals are tirelessly working towards this cause. The Centre for Finance and Development at the Geneva Graduate Institute, The Club of Rome, and individuals like Beris Gwynne, Richard M. Kiernicki are endeavoring to reform finance and make it more inclusive. The collective impact of these efforts could effectively realign banking with the real economy. While the structural reforms needed are vast, they are crucial for an equitable future.
One such instrument in our arsenal is the role of Independent Financial Control of Wealth (IFCW). IFCWs stand as the frontline defense providing a layer of protection to investors and savers. Independent Financial Control of Wealth (IFCW) plays a crucial role in our financial toolset, extending its function well beyond serving as a frontline defense against fraudulent investment managers. Yes, they offer a layer of protection to investors and ensure a stringent and independent control on investment decisions, thereby safeguarding against potential fraudulent activities. Yet, their scope is even wider. IFCWs can critically evaluate and rate banks and wealth managers based on their quantifiable support of the local economy and their commitment to impact investing. In this way, they contribute to fostering a financial landscape that champions the local economy and prioritizes responsible investment
However, the onus does not solely lie on these organizations and individuals. You, too, can contribute to this cause by empowering "Champions of the Local Economy" - individuals and organizations that can stand up to bankers, wealth managers, and the top 1%, driving changes that benefit everyone.
Join us in our mission to reshape the financial landscape towards a more equitable world. Stand against fraudulent activities, demand transparency and control, and together, we can create a fairer and just financial world.
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