  The Main Problems of The Money System | "We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." Robert H. Hemphill, 1936 (Credit Manager of Federal Reserve Bank, Atlanta, Ga.) |
Guns don't kill people, people kill people. However, guns don't help.
Likewise, the modern money system does not compel people to exploit one another
and destroy the
environment. However, the money system has some very serious flaws,
such as:
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1. Centralization
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Centralized money relies for its integrity on the honesty of a small cadre
of unknown, unelected & largely unaccountable leaders - the central bankers.
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2. Zero-Sum Nature
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Its artificial scarcity encourages people in
the moneyed economy to compete with one another,
because what is called 'making money' must entail
taking it from others.
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3. Rent-Seeking
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The money system was not designed to distinguish activity
which creates value from that which captures value.
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4. Anonymity
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Money has become divorced from who has done what for whom.
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'Sound economics' has long favoured such short-sighted
policies as unsustainable depletion or even the deliberate
destruction of valuable resources.
Key decisions are still taken with more reference to
the mathematical construct called 'money' than to the real world.
Statistics such as Gross Domestic Product (GDP) are so abstract that they
reward those who set up vicious cycles of
overconsumption or
professionalisation
while ignoring the resulting human and environmental damage such as the rising tide of
depression or
environmental damage!
"The love of money is the root of all evil."
We are developing
Altruistic Economics, a system for evaluating human interactions
that presupposes that people love one another. By addressing the above issues, it offers the possibility
to reconnect people with the consequences of their actions, and to change their mentality
from scarcity to abundance.
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Shelling Out - The Origins of Money
How Money is Created
How Money is Created
The Great Cookie Jar - Taking The Mysteries Out Of The Money System
Money Downloads