Matze Schmidt on Tue, 10 Mar 2009 04:37:57 -0400 (EDT)

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<nettime> "Purchase" shall be "relation" now

ACHTUNG! German Umlauts

"Purchase" shall be "relation" now

Babel Fish is still alive but tanslates in a petit bourgeois way

"We must develop our credit systems again, around a more traditional bank
term and with a stronger institutional framework, back to credit and
savings communities, which lost the purchase[*] to the local level not yet.
On a rather theoretical level I argued recently that these steps would
help to re-urbanize and re-localize the production of capital and
credit, with a logic rather oriented at own capital funds." (Saskia
[*] The word "purchase" should be replaced with "relation".

[**] Original text: "Wir müssen unsere Kreditsysteme wieder neu
     aufbauen, um einen traditionelleren Bankbegriff herum und mit einem
     stärkeren institutionellen Rahmen, zurück zu Kredit- und
     Spargemeinschaften, die den Bezug zur lokaler Ebene noch nicht
     verloren haben. Auf einer eher theoretischen Ebene habe ich
     unlängst argumentiert, dass diese Schritte helfen würden, die
     Produktion von Kapital und Kredit zu reurbanisieren und zu
     relokalisieren, mit einer eher am Eigenkapital orientierten Logik."
     (Saskia Sassen)
from: n0name newsletter #136 upcoming next week (or so) (in German)

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