Help keep family & friends informed by sharing this article

In the struggle toward monetary justice, the central banking system’s owners are the real ‘rentiers of national money systems. They rent us our own money.

Central bankers’ issuance of all national monies combined with the ‘other’ banker-money power, what Minsky called the capital development of the national economy, manifest as the visible conditions of the world around us. Like George Carlin said, “It’s a BIG club, and you AIN’T in it.”

Under money reform, the government will reclaim the powers of both creating and issuing the national money, but the banks will still maintain, for the most part, their credit-controlled capital development of the economy by directing where the savings of people and businesses are invested. Money reform changes banking and finance, forever.

Banks will become the ‘borrower in the first place’ of all new money, joining the existing money supply in permanent circulation. That’s the win. Having permanently-circulating, debt-free ‘money’ to achieve our future economic potential. A JUST Money System.

After the Alliance’s American Monetary Reform Act is passed, the people will fully control every aspect of how the monetary system works by design.

American households and businesses will be the first ‘receivers’ of all new money spent into circulation. Their ‘savings’ will be lent and re-circulated in our national economy.

“Where” YOU put your money is the most important determinant of what happens with that money; both the money you spend and the money you save and invest. The banking sector over time will naturally redefine itself to satisfy the vision of its depositors and creditors. Or, they don’t get our ‘capital.’

The ‘depositor’s’ first-use then is its ‘first order’ contribution to determine the overall cost of money goods. The depositors, investors, and private banks become the financial-intermediators of the money cost of ALL exchanged wealth, goods, and services.

Savers with conscience can use their new power to challenge the traditional manipulations of finance-capitalism. The centuries-old central banking privilege will be replaced by sovereign, debt-free funding for the People’s clearly-stated, socio-economic priorities.

All public, private, and cooperative savings banks, each with their own lending policies, will use the people’s money for the mutual betterment of all the people who create the wealth, as Dr. Frederick Soddy suggests in The Role of Money.

Under a reformed monetary system, bankers and financiers are forced to compete for depositors ‘capital,’ which banks lend to “earn” their profit (they can’t just create it ‘from nothing’ anymore). The ability of the former rentiers to achieve any level of monopoly status will be extremely narrowed by their newly ‘money-savvy’ depositors. Publicly-issued “monetary-finance” rules the new day!

Share Now

About The Author

Notifications
Notify of
guest

6 Comments
newest
oldest most voted
Inline Feedbacks
View all comments
Edd Twohig
Edd Twohig
7 months ago

well and simply said, My view of money created 100% by Government as a “common” of the people as an investment, not as debt, leaves the private banking sysrem as a privare sector service, Private banks should act as an intermeator in the distribution process.

Joe Polito
Joe Polito
7 months ago

Well done! Very consistent with a wonderful Italian economist, Mariana Mazzucato who said in her book, The Value of Everything, “It is, then, difficult to think about the financial sector as anything but a rentier : a value extractor.

Young Kim
Young Kim
7 months ago

I agree with your assessment about money. But I wonder how that newly created debt free money could be really free from debt. How do you deal with those existing bond holders actually receive most of the newly created debt free money?

rob berkoski
rob berkoski
6 months ago
Reply to  Young Kim

In the 2012 bill (hr 2990 112th congress) “the NEED act”, it was clearly laid out that there wouldn’t be a need to shock the system, because all maturing debts could be paid with the new debt free dollars, as they came due. So there wouldn’t actually be anyone “left holding the bag”, during the transition period.

Jon Underwood
Jon Underwood
3 months ago
Reply to  rob berkoski

Wouldn’t that be Quantitative Easing on steroids? If maturing Debt-holders receive debt-free cash, wouldn’t all of that cash seek out financial assets like stocks, crypto, real estate, etc., driving asset prices through the roof? Spending debt-free money from the bottom up, on goods and services, looks like more bang for the buck, and much different than letting that new debt-free money flow to retire debt.

joe bongiovanni
joe bongiovanni
3 months ago
Reply to  Young Kim

Thanks for the question. The second operational quality to Public Money (beyond being issued debt-free through public spending seigniorage, or gain) is being ‘permanent’ in nature. Just like the Greenback Dollars of yore, once issued, they remain in permanent circulation. This, as the money supply increases along with the production of the economy. Those bond holders want ‘capital’ to replace their holding, and not money that counts the transactions of production. It is in enabling the ACTUAL management of the MONEY and CREDIT aggregates of the money supply that implementing our national monetary policies, both soundly, and JUSTly, becomes possible.… Read more »