Money as debt

March 9, 2010

I just saw an amazing documentary online called “Money as debt“.  Please watch it, or at least read my thoughts of it below!

Wages are acknowledgment of real value already delivered, not promised future value as is the case with our current debt-based monetary system. Therefore our economy should be based on wages to create demand, not debt. Governments representing people and society at large should have the exclusive right to issue currency, not private banks. It is really just common sense: Why should governments ever have to pay interest to private bankers on their currency, when they (we the people) could create the currency themselves? If control over currency was to be given to the people instead of these corporate leeches we would not have to give away any of our tax money to bankers. This value could instead be used for financing infrastructure and universal health care for the benefit of all of us.

This is not communism, it is just the simple conclusion that issuing of money (the standardized units of value) should be used to enable trade of goods and services, not to enrich the already rich monopolists who currently hold control of our medium of trade.

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