WORLD YOUTH BANK GLOBAL VISION 

It is more than obvious that global problem of Youth Employment is based on extremely slow access to low-cost funds and investment capital, due to various, mostly political and economy-ignorance based, middle-way obstacles. It is even more well-known fact that most Global funds (WB, EBRD, UN, WTO, ILO, etc) aimed for various Youth programmes never really get to the local Youth, but usually end in collapsing national state budgets.

Being radically assymetric and non-transparent, global financial network (traditional monetary system in general) as it is, evidently is not sustainable and not efficient enough to solve the piling mountain of  Global Youth problems (unemployment, underemployment, social exclusion, etc).

For that and many other reasons, the need for establishing the World Youth Bank Network is being recognized by Youth all over the World, and it is going to be established at the World Assembly of Youth’s Global Youth Summit on Brijuni Islands, 23-28. March, 2002.

The whole idea is being supported by many Youth and other international organizations, as well as by many national Governments, of which Croatian Government and Croatian Parliament are amongst the first (establishing the Croatian Youth Bank has already started and will be a pilot-project of establishing the WYB).

Speaking in terms of generations, ITC empowered Global Youth has sustained Information Superiority over their elder colleagues, but lack access to Global financial funds as well as tolerance and undestanding. WYB Network is supposed to be not only competitive and strategic, but mainly an intelligent banking system – a real Global Youth leading “life manager”, based on a “civil banking” public finance self-development & youth self-management concepts.

New Economy is based on New Communication which empowers the New Evolution Cycle, which altogether produce New Society needy for New Institutions (state, private and civil as well). New WYB Network is supposed to be a legitimate update for traditional Bretton Woods institutions, not its opponent. And it should not stay the only one, because the New World which oncomes after the September 11.th 2001. (Pentagon Disaster, Manhattan Rubbles and Enron Collapse as key indicators that the present state of the World is non-manageable) is supposed to be empowered with much more energy, transparency, thrust and security than it has ever been before. 

WYB Network aims to give Old World a new power to adapt to ICT based New Reality, and its mission is to Rebuild the World in the new climate of intergenerational tolerance and understanding. WYB Network is supposed to be based on a new method of transparent accounting (Permanent Balancing Method as a proposed New Accounting Standard) with “life production capability” evaluation method as a new quality standard.

Global Youth Project “World Youth Bank Network” is based upon the socio-economic writings by the members of Croatian National Youth Council’s Think-tank “Alpha” team:

1.       Tomislav Bogdanic: “Theory of Intelligent Banking – Funding the Future Beyond the Limits of the Present and the Past”

2.       Drazen Kovacevic: “New Thinking – Tomorrow will always belong to Global Youth”

Together with the group of authors, established WYB International Economic Expert Board is preparing the Feasibility study of the World Youth Bank Network. International WYB Organizing Committee has been established as well, consisting of various international Youth representatives and experts.

Sub-project “Croatian Youth Bank” is a key pilot-project of the World Youth Bank Organizing Committee in Croatia (draft proposal of “Croatian Youth Bank Act” has already been made, and is currently being prepared for adoption by the Croatian Parliament, which has already supported the core proposal of the CYB Act).

Excerpts from WYB Authors studies:

Tomislav Bogdanic: “Theory of Intelligent Banking – Funding the Future Beyond the Limits of the Present and the Past”

     “Revolutionary expansion of Global demand for financial services of various kinds is the undoubtful contemporary  economic fact, particularly affected by the number of extraordinary powerful driving forces – deregulation and reregulation, extended competition, disintermediation, securitization, products and services innovation and the «quantum leap» in information-communication technology development and its' everyday implementation (ICT).

      ... Our Digital World and Konwledge Society are being founded on the New Economy which surrounds us with Information Appliances and Intelligent Technology; more and more we live in Hyper Space, communicate by Meta Texts through New Protocols within our Virtual Communities ... isn' t it time to change our banking and financial habits and our economic behaviour in general?

     … The most conservative segment of the existing economic system is most assuredly its banking part. But, as every single part of our lives and environment is in radical transition under the galloping influence of revolutionary information-communication technology (ICT) changes, so is the global banking system as well. With information e.g. knowledge as a new constituent pillar of the New Economy (“new” because today it can be quantified!), contemporary banking on any level (global, regional, national, local) need not be only competitive, or even strategic – it must become “knowledge-intensive” e.g. intelligent banking. New banking that undergoes constant changes (constantly adopts to changes and that is why it has to become “intelligent” – according to sustainable “learning banks” development concept)  is an “utopia” unthinkable for our traditional bankers and financial experts, but it is an unavoidable economic innovation that will represent a core fundament of the oncoming new Information Society based upon “smart money”…

     … Whilst in obsolete financial patterns general lack of interest produced lack of knowledge on great scale, in our new Digital World this fundamental relation is quite opposite: lack of knowledge causes lack of interest! Cross-border free information flow simply does not allow any society in the World today to stay “landlocked” – but is our economic system fully prepared for the intriguing challenges of the  New Knowledge? Are our banking and financial resources fully developed and moved in any sustainable direction?

     … Anyway, besides all revolutionary changes that we are witnessing today, some things never change - economic sovereignity of Global Youth is, and always will be,  based on the supply and accessibility of capital (Walter Bagehot, “Lombard Street”, 1873, on England’s economic glory) … inner logic of contemporary capital urges for investing in new ideas, new projects as to produce new competitive and profitable knowledge, intensive investment in Youth in general – money stuck in obsolete banks and state budgets is extremely expensive and counterproductive if it does not go to these new markets very quickly … “old-fashionde traders trade on their own money” (capital) and this is another thing that will never change – capital resources on every level are more that sufficient for Global Youth to “join in the band” of the global monetary system … and only by doing so the global monetary system will become fully profitable and productive for all!

     … obstacles to Global Youth on their way towards Global Capital is the wicked economic game of old monetary structures who does not allow Public Capital to emerge, but want to keep global capital funds tightly in their own hands, no matter it loses value day by day, and by doing that they unknowingly but permanently undermine the unique structure of Global Monetary System in general and all its constitutive parts …  Direct Youth Investment (DYI) is the only way out of the “vicious circle” of decline for the Global Economy and the World Youth Bank is that sustainable socio-economic shortcut …evolution of global banking and financial sector has a great impact on prominent public policy issues and that is why we have to rethink how the UPRISING YOUTH POWER fits into the totality of global finances system.

     … innovatedly empowered by Youth Banking strategies, global financial market will constitute of five principal dimensions (CMPTC model) which will bring a much higher level of complexity to the existing web of totally interconnected socio-economic relations:

1

CLIENT

2

MARKET

3

PRODUCT

4

TECHNOLOGY

5

CULTURE

     … Youth Banking system’s Strategic Targeting Method and identifying the specific sources of its competitive, strategic and intelligent advantages will be of the utmost priority to the World Youth Bank Network, if it wants to become a successful global banking and financial player … to develop in that direction, WYB will perform regular  “WYB Environment Scans” as a top priority to identify potential changes, especially in the regulatory settings, which includes prediction of strategic moves by competitive players so as to implement its key advantages in the global market … WYB Network must have much larger social benefits than social costs, and to meet that requirement, it has to position itself  intelligently in the complex Global financial sector and to create, project and develop an unambiguous strategic profile of global Youth banking system, represented in the World Youth Bank Network … ” 

Drazen Kovacevic: “New Thinking – Tomorrow will always belong to Global Youth”

     … nonsustainable traditional system of considering Youth as a financial cost, not as a strategic socio-economic development resource, is something we must leave behind us like obsolete politics of yesterday’s world … ICT has revolutionized our environment and we witness totally new world emerging right in front of our eyes – to understant it, we have to change our way of thinkingdrastically …

     … we have to except the notorious fact that the World will never belong to “us”, “them” or anybody else – this World will always belong to young people, and the sooner we realize this, the sooner we will live in it like  free human beings … many of our friends who grew old trying to keep it for themselves, are finally realizing that in material world we all live only temporarily – so nothing can be kept “just for us” for too long …

Excerpts from WYB IEEB draft Feasibility study:

     The concept of World Youth Bank Network represents the oncoming New Cosmopolitan Praxis of to-be One World of tomorrow. Even contemporary unjust and socially primitive form of today’s selective economic globalization has established fundaments for our unified, planetary human civilization of the Future. Sustainable banking strategies of WYB represent new forms of “virtual banking” – intensive investment in ideas and knowledge based on new understanding of reality’s virtuality and virtuality’s reality. In other words, investing in Future will be WYB’s longterm development strategy, against traditional capital relations where investments were being done in a manner to prolong the socio-economic relations of the Past.

     System of discontinuity of the traditional historic economic pattern had caused one crisis after another, with wars and conflicts being its regular social characteristic – new system of sustained socio-economic continuity (sustainable development) in which Future always holds the keys of the Past, is the key strategic imperative for the whole civilized humanity, and for the World Youth Bank Network being the universal “youth-service”, especially.