Money is debt

Posted by yeslove, February 17th, 2008 | Print | Svenska

Money is created by banks from debt, because the banks charge interest, the debt will always exceed the available money supply. The system demands perpetual growth to service a perpetually growing debt that in the long run will transfer all wealth to the banks.

“One thing to realize about our fractional reserve banking system is that, like a child’s game of musical chairs, as long as the music is playing, there are no losers” -Andrew Gause, Monetary historian

“Money is a new form of slavery, and indistinguishable from the old simply by the fact that it is impersonal, there is no human relation between master and slave” - Leo Tolstoy

1. Why do governments choose to borrow money from private banks at interest when gov’t could create all the interest-free money it needs, itself?
2. Why create money as debt? Why not create money that circulates permanently?
3. How can a money system dependend on perpetually accelerating growth be used to build a sustainable economy?
4. What specifically needs to be changed?