Monetary solution

The solution to our "debt based money system" is not something new or obscure. It has been articulated by presidents and many famous men, and has even been put into practice in the past with amazing success. The words of Abraham Lincoln encapsulate our monetary policy perfectly.

The government should create issue and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers.....

The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government's greatest creative opportunity. By the adoption of these principles, the long-felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest, discounts and exchanges. The financing of all public enterprises, the maintenance of stable government and ordered progress, and the conduct of the Treasury will become matters of practical administration. The people can and will be furnished with a currency as safe as their own government.

Money will cease to be the master and become the servant of humanity. Democracy will rise superior to the money power.

Abraham Lincoln
Senate document 23 Page 91
1865

 

 

The Guernsey experiment

guernsey-bankersFrom 1819 to 1836, the state of Guernsey issued notes (i.e. money) in order to build new public works. This issuance of new money was done by the state without there being any debt attached to the money, and without any need to repay the money (with interest). The net result was that the people of Guernsey prospered - all without any price inflation.

Below are a few extracts from this booklet:

In 1813 ... this island found itself with little or no trade, little or no disposable revenue, no inducement for the affluent to continue their abode, and no prospect of employment for the poor.

The Guernsey States from 1819 to 1836 manipulated the issue of notes to allow a number of public works to be carried out - without increasing the public debt.

The experiments continued over a period of 20 years, by which time the people of Guernsey had developed from a depressed unhappy state to a position of prosperity and happiness.

 

The solution to our "debt based" money system (that has trapped all of us in perpetual debt), is for the Australian government to create, issue and spend into circulation the national currency - for the benefit of all Australians.

 

Attachments:
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