Why do the rich just get richer and richer? Could it be that it has something to do with the fact that we have to rent our entire money supply from the banks that create it?
Did you know that in the UK alone, together we pay the banks £192 million in interest every single day?
1) New Video: Inequality – Why Are the Rich Getting Richer?
We depend on the money created by banks. But because the money is created when people borrow, someone, somewhere, has to pay interest on every pound created. In effect we are renting the money we need to run our economy from the banks.
And because the debt is held mostly by the bottom 90% and wealth is held mostly by the top 10%, paying this interest transfers money from the bottom 90% of the population to the very top 10%.
2) Please share this video – it’s important
Money creation by the banks is certainly not the only reason for the staggering inequality we see in the world today, but it is an important factor that is rarely discussed.
As long as we have to rent the money we use from the banks that create it, we’ll have to keep paying this huge interest bill, and the gap between the richest and the rest of us will keep increasing.
There are ways to create money that don’t depend on us all going into debt to the banks. Ways that would lead to less debt, and stop the gap between the richest and the rest of us getting even bigger.
Help us spread the word!
Send a short email with the link to the video to your friends – it’s really important that we try and get more people involved if we want to bring about change. Example email.:
Hi there, I found this video very interesting, I think you will as well. It explains an important cause of inequality that you might not have heard of before.
http://bsd.wpengine.com/issues/inequality/
3) Upcoming Events
Chicago, USA, 19-22 Sept – 9th Annual AMI Monetary Reform Conference
The speakers are the leading thinkers on monetary reform. Here is the superstar line-up: Prof Joseph Huber, Dr. Michael Kumhof of the IMF, Prof. Kaoru Yamaguchi, Prof. Richard Werner, Prof. Nic Tideman, Prof. Steve Keen and also Andrew Jackson from Positive Money.
4) More from the Blog
Is money creation making the rich richer?
Dave Fishwick creates banking history
10 Good Reasons for Monetary Reform
The Euro shambles would not have been as bad under a Positive Money system
New money should be directed to the real economy, not the financial sector
