An Honest Discussion
Needless to say, the economy is always a hot topic in the media. Economists enjoy the last word in the debate and we have to wonder why given how frequently wrong they are. Their oft-used phrase "but on the other hand" confirms the speculative nature of their opinions. But there is an element of dishonesty in all this talk about money. We never hear about where money comes from in the first place. It is always studiously omitted from the conversation. But as money reformers know, this is the single most crucial aspect affecting the economy: the fact that money is loaned into existence by the private banks, thereby putting the borrower in debt servitude.
So let's imagine an honest discussion about the economy, one where the basic facts of money creation are included. When asked, say, "How can we achieve affordable housing?", the economist would answer: "The government could easily fund the construction of affordable housing by spending new money for this purpose. The authority to create money comes from government so there is no need for the government to look anywhere else for funding other than from itself. This would not incur any debt and it would go a long way towards ending homelessness. We did it in 1936 to alleviate the housing shortage back then and it created thousands of jobs."
Or, "So many people are struggling to make ends meet. What can be done?" The reply would be: "In this system people need money to participate in the economy. A simple solution to financial insecurity would be a minimum income provided to everyone by the government so that people can live their lives with financial dignity. Most importantly, the government should stop the private banks from creating money as interest-bearing debt. They are the direct cause of the onerous levels of debt in society."
That would be refreshing. Instead, we get a rather useless analysis of the economy that regurgitates the same tired platitudes that are wholly unenlightening. An honest discussion of the economy must include the realities of debt-based money creation. Let's work to get this honesty into the mainstream media.
Change money, change the world!