IT To Root-Out Worlds Financial Crisis

The financial world today in turmoil with the news of major economic crisis. The world stock markets plunging down, credit crunch, high inflation, prediction of economic recession depression. Now all of a sudden the financial institution or the banks have not much money in deposit to lend or to give credit or even to pay their own debts in the verge of bankruptcy job loss and massive unemployment! So the world Governments come forward to rescue or bail out these financial institutions with hundreds of billions of cash money at the cost of the taxpayers to ensure the money flow or liquidity in these financial institutions.

Now the serious question is, where does all those plenty of money that used to flow around the financial institution or remain in the banks suddenly disappear? The simple answer is people who used to invest or deposit their money in the financial institutions suddenly lost confidence in them so decided to withdraw their money also the consumers stopped spending much of it for whatever reason! The main point that I am making here is, all those plenty of money as much that used to flow around still must be in there somewhere! But they are suddenly being taken out from the financial institutions therefore being prevented from the legitimate financial circulation and from its productive (credit) employment. So the financial institution or the governments completely loose their control over it to employ it in productive use or prevent it from remaining idle or getting misused.

Having said this let me present the IT solution to prevent the financial crisis is; not to allow the people or institutions to keep cash money (above a given amount) anywhere but in the financial institutions or the banks. However people are free to withdrew their money from a given financial institution for whatever reasons! Nevertheless it will still needs to get transported to some other financial institution or the banks! In this way in the event of a financial crisis (if it ever happens) no money will completely disappear instead it will get deposited in the financial institutions somewhere else this will always ensure the financial circulation as much (plenty) as before so its productive employment.

This is a small part of its principle document titled “IT To Root Out Corruption” . It has been made available in this weblog site and also in the website <www.anticorruption-it.info> . I hope that the information this document provides would at least add to your knowledge about this entirely new kind of IT approach for combating the entire range of economic crimes, corruptions in your future perspectives.--Valerian Texeira.