The Instant Solution to the New Depression: Debt-free Money

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An article about the debt-free money was published in Huffington Post on 4th June 2012.

Here is an extract:

We are so used to hearing “there are no easy solutions” that many people think there are no solutions at all. This is Big Lie #1. Big Lie #2 is that we are broke and There Is No Alternative (TINA — thanks, Margaret Thatcher, for that false belief) to Austerity. We can throw Austerity as a cure for the economic crisis on the dust heap of failed theories, says Paul Krugman and, increasingly, other economists, mainstream and not. I have been lambasting the new Austerians (a term I coined even before Krugman) for months. Greece will probably throw the Austerians out of office later this month as well. German Chancellor Angela Merkel is rapidly losing support, even in her homeland, as recent regional elections have turned against her. She is becoming increasingly isolated internationally, with her ally in France, Sarkozy, now booted out by socialist(!) Francois Hollande who wants more stimulus (good), but has no idea how to pay for it (bad).

Getting back to the Big Lies. The world economies are held hostage by the financial terrorists. They are withholding credit-moneythe only kind of money most people think there is — starving economies everywhere of the grease that enables commerce and provides working opportunities. But, the question must now be asked, forcefully and urgently:

Should banks be allowed exclusive rights to produce the world’s money supply?

Recently, 12-year old Victoria Grant gave a speech at the Public Banking Institute’s (PBI) first annual conference in which the answer was a resounding “No!” Her combined video totals for her 7-minute speech now top 1.3 million views and will probably hit 2 million before the summer is over. Her seniors at the conference, though perhaps less inspiring, nevertheless flesh out her points that a truly sovereign nation need not rely on a private central bank to produce its money supply. They need not borrow money at all, either from a central bank, or from creditors abroad; a form of subsidy to those governments who enable the taking of our jobs for lower wages.

You can read the whole article here.


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