Saturday, 13 July 2024

Another Economy Is Possible!

One man makes it very clear what he would do to Bankers. The National Liberal Party believes that the whole banking system has to change.

THE NATIONAL LIBERAL PARTY would like to see a stable, sustainable yet properous economy. We’d like to see our people in apprenticeships or full employment – and not schemes designed to rig the unemployment figures. There should also be a living wage for everyone.

We’d also like to see affordable and decent housing for all. The National Health Service should be regarded as a system of healthcare accesable to everyone – regardless of their economic circumstances. The NHS should be a public service and not for private profit.

In addition, there should be generous provision for disability, maternity leave and retirement. We also believe in free access to public education at all levels – from nursery school to university. Those with special educational needs should also be well catered for.

All of this is great in theory but how will we achieve it? It will require money – and lots of it. However, according to all of the establishment parties and politicians, there’s no money.

Or is there?

Let’s be honest about it, how many members of the establishment parties (or even individual politicians) know how money is created? Indeed, do any of them even care? How many of them have spoken out against the current criminal banking system? They all seem reasonably happy enough to continue surrendering sovereign powers and let the private banks to conjure money out of nothing and then charge interest on it.

However, to ensure real prosperity we need a system that benefits people – as opposed to one that robs them blind. Thus we need a system of Monetary Reform whereby publicly-created, debt-free money is the norm as distinct from privately-created, debt-based money.

An in-depth description of how money is created – and what changes are needed – can be found on the thought-provoking blog My Manifesto – Because Politics Isn’t Working.

For in an article Beyond left and right: Real money is vital for our freedom and prosperity the blog notes:

“We need to get beyond issues of left and right, capitalism versus socialism, in order to acknowledge that at the heart of our malaise is actually the nature of money itself.

Namely, who creates our money and who controls it.

Modern-day banks have been given licence to loan money into existence, without needing a saver with a corresponding deposit on the other side of the ledger. Contrary to popular belief – and the myth that is perpetuated in classrooms across the land – in order to lend £100, banks no longer need someone else to save £100 with them. They simply create the money by typing the numbers into a computer.

This is not only morally outrageous, it has proven to be economically disastrous, causing bubbles in stocks and housing along with huge misallocations of capital away from productive industry and towards non-productive investment in things that already exist, such as houses, from which a rent can be extracted.

For the good of our economy, this legalised form of money forgery has to stop. What is referred to as fractional reserve banking – where a bank lends out more money than it really has – must be brought to an end and full reserve banking must become the norm.

As banks have been allowed to lend at will, governments have been allowed to borrow at will. Again, they are borrowing money that did not exist until it was created out of thin air as a burdensome liability to the taxpayers of future generations.

This is an indirect tax on today’s savers, robbing them of the value of the money they have earned through work in the past and saved to enjoy later on. The interest that is charged to taxpayers on this fraudulently created currency is also a direct tax on the future earnings of workers, and can only serve as a drag on our nation’s economic vibrancy and prosperity until the debt is either repaid or written off.

So the government’s creation of money as debt also must stop, preferably before our currency collapses as the world wakes up to the fact that what we owe as a nation we are unable to repay.

The cure for this abuse of money by banks and governments is to directly link the value of our currency to something that cannot be printed, or created at the touch of a computer button without so much as a bead of sweat falling from a worker’s brow.

Linking the value of our currency to gold and silver, for example, which are limited in supply and have intrinsic value – unlike a piece of paper masquerading as money – would rest power over the creation and control of money from those who have shown themselves to be least capable of exercising it responsibly. Bankers and politicians.

The fact that such reform would negatively affect the power of those two groups of people is, one suspects, exactly why it has not happened. Although as sure as night follows day, reform will be forced upon them both.”

The message is clear then. Another economy is possible. However, in order to provide decent jobs, housing and schools, we first need to take on – and completely reform – the existing banking system.

• CHECK OUT the economic article from the My Manifesto – Because Politics Isn’t Working blog here:
  • Print
  • Digg
  • StumbleUpon
  • Facebook
  • Yahoo! Buzz
  • Twitter
  • Google Bookmarks
  • Add to favorites
  • blogmarks
  • Blogosphere
  • Google Buzz
  • PDF
  • email
  • Live
  • MSN Reporter
  • MyShare
  • MySpace
  • Technorati

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.