Legalise Freedom

Have the authorities in our supposedly democratic country been deliberately concealing from citizens and their representatives how the money system they manage for us now works? Yes, of course they have.

In the last few weeks, this lunatic saga has continued to unravel. It still has further to go and more to reveal. Developed by us oh-so-clever humans and used by no other species, the idiotic way we allow our money system to be managed would be a joke – if it didn’t cause suffering to billions of people and other creatures around the world.

Around the world now, thousands of politicians, officials, experts, NGOs, commentators and journalists from many countries are preparing for the Copenhagen global climate conference in December. Already they accept that it won’t produce a binding treaty, only prepare the ground for the possibility of one at a later date. (Continues below)

More important in the long run, none of them seem to understand the link between the global environmental threat and global finance. It is that the world’s money system now imposes a perverse calculus of values on countries, places and people everywhere.

This both encourages the better-off minority to try to preserve and expand their privileged economic and social positions, and compels the poorer majority to try to survive and maintain themselves and their families, in ways that are bound to overwhelm the planet’s resources, including its capacity to absorb carbon and other climate-changing emissions. Without the worldwide money system’s radical reform, any eventual climate treaty is bound to fail.

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Machiavelli pointed out that “He who introduces a new order of things has all those who profit from the old order as enemies, and he has only lukewarm allies in all those who might profit from the new” (The Prince, 1532). Very true. But we need to pursue the question further.

Why do virtually no politicians, officials, economists, academics, media commentators, and bankers and other finance professionals acknowledge publicly how our money supply is now created? And why do they avoid discussing the possibility of a better way than allowing the banks to create it as profit-making “credit”?

And what about the multitude of charities and pressure groups and NGOs around the world, focused on poverty, overseas aid, the environment and each of the many other spheres in which people suffer from our dependence on banks to create the world’s money supplies? Are they so concentrated on raising money for their own activities that they don’t recognise the present way of creating money as a cause of the ills they oppose? or are they just scared of offending the banks?

These are not academic questions. To some people they will be hostile. To others they may be helpful. Corrupting and corrupted self-interested opponents of monetary reform will contest them or try to ignore them. But, to the larger number of people passively unmoved by the need for reform, a less hostile approach will be more effective. (Continues below)

We are all motivated to some extent by how we perceive the balance of risk and reward between the different courses of action open to us. That applies to all the professionals directly concerned with money, and to the press and broadcasting media, as it does to everyone else. To some extent, the careers, reputations, earnings, pensions and investments of thousands of influential people in our legislatures and press and broadcasting industries as well as banking are directly affected by the fortunes of the banking industry.

To create the necessary momentum in favour of monetary reform we have to find ways both of combating the actively negative influence of corruption, competing commitments, over-cautious inaction and passive lack of concern, and of strengthening positive interest and committed support for reform.

Those two approaches together are needed to convince public and electoral opinion strongly enough of the need for monetary reform to compel increasing numbers of the professionals in charge of managing the money system to change their thinking in that direction too.

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