The Open Free Press

Capital Partnerships:
A Debt Free Solution to the Property Crash

Now there are times, this most definitely being one of them, when one can get a little down in the mouth as it were about banks and money and credit and whatnot. What to do, what to do.

That the banking system has been designed by half-wits is now self evident. Actually, that’s incorrect. The simple truth is they are not half-wits but bright, cunning rascals who have known for a long time exactly what the results of a spiralling tower of interest bearing debt would be; basically the plundering by the have of the have nots. Same old same old. Yet it doesn’t have to be this way.

I have known Chris Cook for several years now. I even knew him when he had hair. (We’re not bosom buddies or anything like that though I once bought him a cup of tea). In fact I’ve no doubt irked him more than once by calling him up out of the blue and asking him to re-explain the power of open capital to me. Open capital is at the heart of Chris’s use of UK type LLP’s; Limited Liability Partnerships.

PIPS – Mobilising Equity
I don’t know whether he made the above video to stop me calling him up any more, but I’d like to think so. Because in it there lies an immensely powerful idea, albeit a quiet, steady, unassuming one. If you consider the vast amount of equity lying around in housing and property stock, and you could find a way of mobilising that equity in a way that does not involve debt or interest, then you would have a very effective form of . . . money.

Chris’s PIP (Property Investment Partnership) concept does just that, turning bricks and mortar into equity based money. Oh he also clearly defines the effective role of banks too, not as creators of mountains of interest bearing debt money, but as credit intermediaries. A role they would be good at but which they would sulk about a great deal too no doubt.

During the crash of 1929 many creative solutions arose with highly positive results from privately issued scrip in the US to the value eroding Austrian Worgl money as initiated by Mayor Untergugenburger. Yes, that was his real name. Chris Cook’s Open Capital is not an emergency measure in the same way, but it could yield up significant advantage on a permanent footing. It’s applications cover practically every area of human endeavour, not just property per se.

For further reading on this you can visit Chris’s site at OpenCapital.net where you will find many documents available for free download. One of the best is the following PDF:

Co-operative Capitalism: A Very British Revolution