monetaire hervorming (2)

[Antid Oto]

REPLY TO: D66 at nic.surfnet.nl

Een interessante bewering in onderstaand artikel.
*) 97% van het geldkapitaal dat in omloop is in de UK zou "debt-based"
zijn. Dus door de geldcreatie van privébanken door leningen en
hypotheken te verstrekken zonder dat daarvoor reserves zijn.

Wat zou dat percentage in de EU zijn? Het zou me niets verbazen als dat
ook een dergelijk percentage is. De ECB publiceert wel de geldgroei
indicatie M3, maar dat zegt niets over de verhouding centraal/privé.

De Fed is in 2006 al gestopt met het publiceren van de
geldhoeveelheid/geldgroei M3. Totale mist in de VS dus. Niemand die nog
weet hoeveel FED dollars er in omloop zijn.

http://articles.moneycentral.msn.com/Investing/JubaksJournal/FedKillsAKeyInflationGauge.aspx

De VS zijn dringend toe aan monetaire hervorming, maar de enige
presidentskandidaat die dat op zijn agenda heeft staan is Ron Paul. En
die heeft geen schijn van kans. Gelukkig maar, want hij wil de
goudstandaard weer invoeren. Een onwerkbaar en pervers systeem, waar
veel nadelen aan kleven.

In de EU wordt dit onderwerp stelselmatig doodgezwegen. Er moeten
blijken eerst ongelukken gebeuren ala 1929 voordat het weer op de agenda
komt.



http://www.sovereignty.org.uk/features/articles/manifesto07/mreform1.html
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FREEDOM FROM DEBT SLAVERY
Alistair McConnachie explains how our Debt-based Money System is
the Driver of Unsustainable Growth, and What we can do to Stop it
The publicly-owned Bank of England

Money Reformers advocate publicly-created, debt-free money as distinct
from privately-created, debt-based money.

PUBLICLY-CREATED MONEY
Publicly-created money - sometimes called "debt-free money" is money
created by a public body, for example, an accountable public body which
is an arm of government, which has been created by statute, and which
has the power to create money on behalf of the people, and where the
profit from creating this money goes directly to the Exchequer -- which
is to say, directly into the public purse, so that we the people benefit
financially from that creation of money.

The publicly-owned Bank of England creates "publicly-created money" when
it prints the notes which it sells at face value to the private banking
system on demand. The profit -- called seigniorage -- is simply the face
value minus the cost of printing. This sum is paid to the Treasury as,
effectively, a debt-free input to the public purse. Around 3% of money
in circulation is notes created by the Bank of England. With the
ever-declining use of cash, this debt-free seigniorage revenue is
reducing all the time.

Publicly-created, debt-free money is Money by the People and for the
People. It is money created by a public body, the profit of which
benefits the people.

PRIVATELY-CREATED MONEY
Privately-created money -- sometimes called "debt-based money" is money
created by private organisations for their own private profit and which
benefits nobody but themselves.

These private organisations are the High Street banks, that is to say,
the commercial banks -- all the banks other than the nation's Central Bank.

As we said, 3% of the money is created by the Central Bank as a
publicly-created, debt-free input to the public purse. The other 97% of
money in circulation is created by the private banking system as a debt,
and consists merely of electronic digits -- like your mortgage or overdraft.

It is account entry money which exists only as numbers, in your account,
and which you transfer electronically by means of cheque book, plastic
card or internet facility.

This may be surprising to some people. Many people imagine that the
government somehow creates all the money and that the private banks are
just recycling it and moving it about. No, the private banking system
creates almost all the money - and as we say, it is around 97% of all
money in circulation. All of this 97% is privately-created, debt-based
money -- created at its point of origin, as a debt for the private
profit of the bank.

This is money that banks created out of nothing in the first place. It
did not exist before the bank created it.

DEBT DRIVES UNSUSTAINABLE GROWTH
It is our debt-based economic system which is driving the unsustainable
growth which leads to resource depletion, environmental destruction and
man-made climate change.

It is the debt-based nature of our money supply which drives this need
for "growth".

This is because it is the debt in the system which institutes an
intrinsic inflationary imperative into the economy, driving itself, and
us, recklessly onward.

Debt is the driver. For example, debts for industry mean that industry
has rising costs of production and has to raise its prices.

Debts for individuals mean less disposable income, depressing consumer
spending power, leading to wage demands.

Systemic debt in society tends to constantly work to push costs and
prices upwards, disposable income downwards and wage demands upwards.

And the only way the economy can try to meet these demands is to keep
growing and growing. The economy has to keep growing to meet the demands
of these debts.

Debt is to the economy as high-octane fuel is to a jet engine. But this
is not jet-propelled growth, its…

DEBT-PROPELLED GROWTH
Endless debt leads to endless pressure for endless growth.

To summarise, when money is being created as a debt at its point of
origin, then it will feed into other debts throughout the economy and
require more people and businesses to go into debt to service them,
which leads to another increase in the debt-based money supply, which
leads to more people and companies acquiring debt, and so on and on.

A money supply based on debt is compelled to keep growing unsustainably
like a vicious Towering Inferno. And like Steve McQueen's character,
Fire Chief O'Hallorhan said in that film: "It's out of control, and it's
coming your way!"

Here are two Money Reform Proposals to Promote Publicly-created,
Debt-free Money:
To stop the Debt Driver which propels us towards endless growth, we need
to switch from the privately-created, debt-based money supply, which we
have at present, to a money supply which is either largely or wholly
publicly-created, debt-free. Either reform would ensure that the
debt-free money would tend to neutralise the effects of the debt-based
money. This would lower the level of debt in society and reduce the
negatives associated with systemic debt.

Michael Rowbotham's reform, promoted in his book, The Grip of Death
(1998), is intended to move the money supply to being largely
publicly-created. It can be summarised in 3 parts:
1. Commercial banks are allowed to continue creating credit. No
legislation is needed to change their status.
2. The State -- via an independent public body -- creates and spends
into society a certain amount of debt-free money each year, allowing the
public purse to benefit from the seigniorage on the amount created.
3. The amount of debt-free money supplied to the economy would match the
net growth in debt per year.

Joseph Huber and James Robertson's reform promoted in their book
Creating New Money (2000), differs from the Rowbotham reform in that it
is intended to move the money supply to being wholly publicly-created.
It can be summarised in 4 parts:
1. Forbid private banks to create money.
2. An independent public body -- a branch of the Central Bank -- creates
all the money debt-free, on a regular basis.
3. Government spends this money into society via its spending projects.
4. It is this money which private banks compete to attract into their
savings accounts, in order to lend out to their customers.
The Huber/Robertson reform seeks the full social ownership of the power
to create money.

PUBLIC DEBT DRIVES PERSONAL DEBT
As our government and public sector becomes increasingly indebted, so it
must raise our taxes, which then raises our rents and mortgages, and
lowers our benefits, savings and pensions. For example, the amount
required from our taxes to pay the interest on the National Debt is
£30bn -- more than the amount spent on "Housing and environment", or
"Industry, agriculture, employment and training" or "Personal social
services", and almost the same as the £33bn spent on "Public order and
safety"! (HM Treasury, Budget 2007, Chart 1.1. and 1.2, p.15). At the
same time we're working longer hours for less pay and suffering the
stresses of debt enslavement.

Our Money Reform proposals have the potential to reduce public debt and
hence our personal debts.

DEBT DRIVES PPP and PFI SCHEMES
The Private Finance Initiative (PFI) and Public Private Partnerships
(PPP) are strategies invented by the banks for their benefit. It's an
attempt to raise money for the public sector from the private sector.
However, it will always be more expensive for the taxpayers in the
long-run. Our government would rather close hospitals that are not on
PFI and build new ones that are on PFI. This is privatisation of the NHS
via PFI. Money Reformers advocate that the money can be
publicly-created, debt-free and spent into society at no cost to the
taxpayer.

DEBT DRIVES POVERTY
The way our money is created leads to intrinsic debt in the system,
which leads to unsustainable levels of debt at a personal and public
level. Thus, Money Reform is a major part of an anti-poverty platform.
It has the potential to reduce public authority debt, reduce our council
tax, improve our public spending and services, improve our schools and
hospitals, support our pensioners and students and fight poverty and
ill-health in our city effectively.

Some groups claim, unimaginatively, that "The poor are poor because the
rich are rich." This "redistribution argument" is not creative. It
regards money as finite. They think there is only so much circulating
and they have to grab a little bit of it for themselves. They think it's
like a cake, and there is only a little slice available for each person.

The redistribution argument fails to grasp that money is not finite. It
is infinite! It is created on demand, out of nothing, for private
profit, every time someone takes out a loan from the private banking
system! It is this debt-based nature of money which creates the
intrinsic debt in society, which drives the poverty. We can use
publicly-created money to Fight the War on Poverty!

DEBT DRIVES STUDENT POVERTY
Student education is an investment in the future, yet students are
burdened with £25,000 of debt before they can even set foot on the
property ladder and make their way in the world! They are becoming
enslaved to the banking system.We want to focus people and society
towards an appreciation of quality of life, and away from the constant
pursuit of money and the interests of the banking system.

Publicly-created money has the potential to ensure full student grants
for all and bursaries targeted at students and apprentices who are
studying and training in needed subjects and skills.

DEBT DRIVES HUGE BANK PROFITS
Banks make huge profits because our money supply is, essentially,
privatised and banks have a virtual monopoly on its provision.

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