Economic transactions beyond borders, banks, and bureaucracies
(only producers create money)
Removing the constraints of currencies so that everyone can prosper
Money does not come from vaults, but is created with bookkeeping by private corporations called banks. Even governments go to banks for money. Central banks are also private, for profit, corporations.
Bank money, unlike government notes and coins, is issued as debt at compounding interest, thus causing shortages, unemployment, and inevitably bankruptcies and dispossession, through no fault of the user.
Mutual Credit, barter, and local networks provide sufficient, interest free currency for prosperity, mutual insurance, no unemployment, and choice of career.
The monetary response to COVID has to help people of course, but how can understand Mutual Credit in context?
Once upon a time there was a skilled carpenter who had a reputation for reliability and magnificent furniture for homes and businesses. Over the years he built up a well-equipped workshop, with an adequate warehouse full of selected materials alongside. One morning he was working on an order to outfit a new store, when heContinue reading “Short of Inches”
Ryan Fugger: The Ripple service allows payments between interconnected friends and businesses. Normally, if your friend Alice owed you $10, she would have to pay you back before you could make any use of that debt. If you were creative, however, you might be able to pass the debt on to someone else who knewContinue reading “Network of Trust”
Margrit Kennedy: Money is one of humankind’s most ingenious inventions – and also one of its most dangerous. Interest and Inflation Free Money offers a clear, simple explanation of how financial policies shape the global markets – and how interest wrecks cultures, ecosystems, and economic systems. In particular, it reveals the hidden flaws in ourContinue reading “Interest- and Inflation-free money”