Tuesday, 19 October 2010

Money & Banking: The Root Cause of Debt, Crisis and Poverty ...?

Does the fundamental design of the banking system automatically lead to an unstable, unproductive, unfair and unsustainable economy and society ...?

If the answer to the above question is yes, then the logical next question to ask is will society take the opportunity to truly fix the problem now...? or will it resort to superficial changes and start saving up for the next bailout ...?

If the best minds in the world were to get together to design a new banking system now ... could they create something better than what we've got ...? could they create something fair (the current system throws millions into debt unnecessarily) ...? could they create something stable? (the current system triggers a recession every few years) ...? could they create something sustainable (the current system requires infinite economic growth) ...? could they create something productive (the financial crisis is throwing millions of people into unemployment) ...?

More and more people are starting to believe money & banking is the root of most of our social and economic problems.  For instance, due to outdated/flawed banking laws, Fractional Reserve Banking currently allows private banks to legally generate 'money out of thin air' from debt, and use it to drive individuals, economies and nations further into debt (and debt slavery).  Is this true? ... Can this be right ...?  Is there a better way ...?  

Well the latest Zeitgeist movie starts to address such issues, and there are many groups now also demanding change ... e.g. one such group, Positive Moneyis holding a conference next month in London (entitled "Banking Shapes the World"), on the 13th and 14th November 2010.