Karl Jaeger
Money
24 Mar 2009
Money isn't everything but it's way ahead of whatever is in second place.
Perhaps Our Future Planet needs only one money, one monetary system.
What might be the best name for Our Future Planet's future money?
What should a planetary monetary system be based upon? Sometimes present monetary systems have been based on gold.
Should an Our Future Planet monetary system be based on gold? Or perhaps an integrated pool of energy sources - the current value of oil and gas and coal and key renewable energies?
What are Citizens ideas?
Comments
Comment 1
The real reason for the global financial crisis comes down to 2 things: 1) the debt-based monetary system (Central Banks, IMF, etc.), and 2) Fractional Reserve Banking (banks lending more money than they actually have).
See the video 'Money as Debt':
http://video.google.com/videoplay?docid=-9050474362583451279
The problem is that all nations with central banks are renting the national money supply (being charged interest) from a privately owned corporation. This is where the national debt comes from, and since interest is being charged, the debt is always bigger than the amount of money in circulation: the debt always gets bigger and can never be paid off.
Combine this with the fractional reserve banking system, where banks lend out 10 to 33 times more money than they have in the vault (as credit - numbers on a screen that are created out of thin air by the push of a button - physical cash is only 1% of the money that's in circulation).
The solution is very simple: switch to a resouce-based economy instead of using the debt-based monetary system, and abandon fractional reserve banking in favour of full reserve banking.
Written by Adrian on 15 Feb 2009, at 06:38 Report this comment
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