Index

Editorial

Disillusion with the debt-money system is spreading faster by the day! – None too soon. Awareness of the gross levels of inequality and fraud among the wealthy is bringing the whole system into question. Increasingly, even academics are starting to look at the fundamentals and realizing how wrong are the orthodox theories built on the false assumptions about money and power.

Added to the growing awareness of the facts about global warming and the need to stop polluting and squandering the natural resources our ‘economy’ and even our lives depend on, it is becoming clear to more and more people that fundamental changes are needed.

A fairer distribution of the basic needs for survival, and the ‘economic democracy’ provided by Basic Incomes, as CH Douglas termed it in the 1920s, are needed to allow for the smooth winding-down of production, to concentrate on production of high quality, durable and repairable goods; and a money supply of adequate size to meet society’s needs for it, circulating without debts chasing it to extinguish it, is essential to support this.

To achieve this, the money must be spent into circulation, not lent. This implies that it must be created by a State body, so that the ‘seigniorage’ from its creation benefits the people collectively, not any private body.

- Brian Leslie

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Call4Reform is a UK-wide campaign to reform the financial system. “We have one request – that the power to create money be taken away from profit-making entities (the high street banks), and returned to the state. Doing so would allow us to: - phase out the national debt, saving £100 million per day in interest costs - reduce the tax burden by up to 30%, permanently, or increase government services with no increase in taxation - Save 60% on the cost of public infrastructure projects (such as schools, hospitals and public transport), by removing the need to borrow this money and pay interest over 30 years - Significantly reduce the risk of future financial crises - Significantly improve the stability of the banking sector, protecting depositors and the taxpayer - Create a more stable currency and consequently a more stable economy.”        See  www.call4reform.com

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