Re: HOMESTEAD: Including Turnbull statment on World Bank action subject to confirmation of facts

[Shann Turnbull <sturnbull@mba1963.hbs.edu>]

Deb

Before I received your message below I had drafted up a detailed account
of my relationship with Wolfensohn, Ellerman and Pettifor that I will
send after this message.  It explains that you do not need to rely
at all on any information from Ellerman as Wolfensohn spoke for
himself!  

I will share this message with Ann and with Ed Mayo, the CEO of the
organisation where she is now based, The New Economics Foundation. 
I will also provide a copy to Norm Bailey who Jim told me in Sydney last
month that he would meet with after his Annual meeting this month to
follow up the buy-back and self-financing proposals.

The language you used below could be improved.  Technically it is a
wholly owned subsidiary of the World Bank, the IFC that lends to the
private sector.  So you may like to refer to "loans from the
IFC/World Bank........" 

Also, if you are not reporting my earlier work and articles could you
please change the words "Shann Turnbull developed another proposal
for using...." to "Shann Turnbull presented his different
proposals developed 30 years earlier for using...."  

This is to make it plain that while the core idea was based on Kelso it
was developed before the "binary" brand of economics was
promoted.  While I share the goals of the binary economists I do not
want to be identified as being one of them.

Regards

Shann

At 10:47 AM 10/9/2001, Deborah Groban Olson wrote:

Shann and David:

        I have included the following paragraph in the Ownership for All Homestead chapter subject to verification. I would like you to get me verification of the portion in bold italics from whomever speaks from the President of the World Bank as well as David Ellerman and Ann Pettifore that this is correct. If it requires any changes or explanation, please  get those for me as well.

Many thanks,
Deb

"Shann Turnbull developed another proposal for using central banks to broaden ownership for the May 2001 COG meeting. He also presented the paper to the President of the World Bank.  It  explains how client countries could establish self-financing economic development on a democratic basis consistent with the mission of COG and that of the World Bank to "eliminate poverty" and provided a basis for terminating the need for the World Bank and other international lending institutions when foreign exchange was not required in a development project. In consultation with David Ellerman and Ann Pettifor, Turnbull developed a plan for the World Bank to sell its loans to a self-financing Economic Development Facility established in client countries funded by their Central Bank.  The President of the Bank gave Ellerman permission to develop this proposal but added his own idea that loans from the World Bank to the private sector in client countries also be included in the buy back proposal. "(Note to the Editor: The two preceeding sentences still require fact checking with the involved parties.)

Deborah Groban Olson
Executive Director
Capital Ownership Group (COG)
COG web site - http://cog.kent.edu
Email: cog@kent.edu

c/o Atty. Deborah Groban Olson ,of counsel to
Jackier, Gould, Bean, Upfal & Eizelman, P.C.
1021 Nottingham Rd.
Grosse Pointe Park, MI 48230
Phone: (313) 331-7821
Fax: (313) 331-2567
Email: dgo@esoplaw.com
Web site: www.esoplaw.com

Shann Turnbull  Ph.D.

P.O. Box 266 Woollahra, Sydney, Australia, 1350

Ph: +612 9328 7466 office; +612 9327 8487 home; Fax: +612 9327 1497;

Life long E-mail: sturnbull@mba1963.hbs.edu  Alternate:sturnbull@optusnet.com.au

http://members.optusnet.com.au/~sturnbull/index.html

Papers at: http://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=26239

with other papers & book at http://cog.kent.edu/library.html