“As a result, ‘money’ is ‘toxic’.
Healthy ‘mutual credit‘ would enable the flow of goods and skills through society.
Healthy money would be like healthy blood in a body and clean water in nature: enabling and enriching.
Instead, the issuing of ‘credit’ without issuing the interest required, ‘toxic money’ is oppressive, restrictive and controlling.”
Let me count the ways:
- National Governments:
- borrow according to “Public Borrowing Spending Requirements” (PSBR) and pay interest.
- Instead, they could issue interest-free Cash into the economy.
- While ‘creating money’ is the sovereignty of nation states, banks have expanded their ‘habit’ of creating Credit and turning it into ‘financial products’ such that their ‘money’ virtually represents all money in circulation (estimated to be 97%, whereas, in the UK, it used to be 53% at the end of WWII).
- Governments are supposed to either borrow or tax as their income stream, when, in reality, they should create interest-free Cash (or Green Credit) rather than allow banks to create interest-bearing Credit ad infinitum.
- For governments to borrow AND to tax is an affront and insult to taxpayers. They should simply create interest-free Cash to spend it into the economy.
- Taxpayers are made to believe a system of annual budgets, while
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