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Old 07-03-2018, 03:46 AM   #11
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Join Date: Jan 2007
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What's the snag? Money issued as Debt owed to the private bankers.

The Mechanics of Money

Money is not a commodity. It is a symbol of value. Any two people can transfer whatever they like as a medium of exchange. We agree as a group to use one medium of exchange to simplify transactions. The purpose of inventing a medium of exchange is to sustain the flow of goods and services circulating in an economy. If we agreed to use gold or feathers as tokens, the medium of exchange would be finite and too scarce to meet everyone's needs ~ and finite physical commodities have historically been monopolized by individuals who constrict the flow of goods and services that are needed by everyone in society. Paper is plentiful. In theory, we agree to the fiction that paper money and computer credits have value in order to produce and exchange the commodities we need. But they have no intrinsic value.

The pieces of paper and computer entries that are fabricated by private corporations, what we call money, can and should be created and regulated by a legitimate government agency. It is irrational to transfer this vital social function to private corporations that thrive on usury and destabilize economies by expanding and contracting their fabricated credit. Usury is not a fact of life, an inherent condition one finds throughout the natural world. It is a parasitic human contrivance that eventually kills the host.

[snip]. The founders of our nation understood that a government does not need to borrow its money from a private corporation. It has the power to create its own money. We are that government and that power belongs to us.


Geraldine Perry has suggested that if banks are to remain privately owned they must be required to operate as independent businesses with 100% reserves and use their own (legitimate) capital for loans, not fictitious accounting entries and not other people's money. A public Monetary Authority would issue the national money supply. Attorney Ellen Brown's brilliant book, "The Web of Debt," proposes sound mechanics for a new monetary system, using interest-free constitutional money and credit issued by the government. Richard C. Cook explores creative possibilities that truly liberate the mind and demonstrate the possibilities of a compassionate monetary system. These three visionaries all endorse the Monetary Reform Act conceived by Stephen Zarlenga. All that remains is public demand for this reform.

Existing debt to the central bank crime syndicate disappears in an instant when it is recognized that fictitious accounting entries do not constitute lawful "consideration". Nothing of value has been borrowed. What a bank "lends" is the borrower's own promise to invent money for the bank, an absurd fraud.

Completely abolishing the privatization of national money and credit would end world poverty and liberate human energy to create worldwide abundance in which every human community could produce and exchange the goods and services it needs without ever being enslaved by fictitious debt. What is most essential to liberating humankind from centuries of covert suppression is financial sovereignty. Political freedom without economic freedom is meaningless. The self-induced implosion of a corrupt financial system provides our generation with a precious (and brief) opportunity to secure the blessings of liberty envisioned by our ancestors and to finish the American...

The Problems of Debt

In the USA 100% of the money supply is created by the private banks. In Britain the figure is over 97%. In the rest of the world, the figure is estimated to be over 95%. All this money is created as a debt. It is created when people borrow money, as banks do not lend existing money; they just create new money out of thin air to lend.

Money created as a debt by the banks bears a charge of interest. This increases the amount of money that the economy owes by an amount greater than the amount in existence. This means that the economy is a saddled with a debt that can never be paid off, merely passed around like a game of Pass-the-Parcel in a Belfast pub. It is like a game of musical chairs, where someone has to lose out.


A Solution

Money does not have to be based on debt, nor indeed does it have to be based on precious metals. Real wealth is the goods and services that people create for each other. Money is merely a means of exchange. It could be created by HM Treasury and spent on providing public services, saving us all a modicum of taxation, and then the economy would not have to be saddled with large debts.
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