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| We recognise : |
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1. |
The supply of money into the economy is the big issue
which governs all the issues. The present economic system is
debt-based. This means that virtually all money
is supplied to the economy as a debt to
be repaid, with interest, to the banking system.
Governments rely upon the majority of people going into debt to
the banking system simply to create enough money to supply
the economy. Governments, too, must borrow from the banking
system to fund public expenditure. Taxpayers must then pay
back the debt and interest repayments. |
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2. |
As a consequence of this debt-based economic system, we see
the indebtedness of people, families, and
countries growing daily. The present debt-based economic
system perpetuates debt slavery, and this is ultimately
destructive of society, the environment, and the planet. |
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3. |
The banking system creates money out of nothing.
We are concerned at the claim that there is no money to fund
vital public services, industries, and social and
environmental projects, when this money at source is
created out of nothing. Governments should be able to
supply money, debt-free, without having to
borrow from the banking system. "Debt-free" means that it
does not have to be repaid. |
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4. |
The debt-based economic system must be challenged and
alternatives constructed. The economy needs a supply of money
debt-free. |
| Therefore, we affirm : |
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1. |
Money must be based on the real wealth of
society people, skills and materials not on debt. The supply
of money must relate to these physical facts not to the
requirements of the banking system. |
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2. |
Money is the means of exchange for the goods and services produced by
this real wealth. It is not a commodity itself. |
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3. |
The purpose of an economic system is to provide goods and services
as, when and where required in order to satisfy human needs. |
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4. |
Money must be our servant not our master. |
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5. |
Money, at source, is created out of nothing, so there is no need
for it to be scarce. |
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6. |
Whatever is physically possible and socially desirable can be
made financially possible. |
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7. |
The present economic system can, and will, be changed for the
better. |
| Consequently, we propose :
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1. |
That the government via a democratically accountable
authority undertakes the creation of a supply of money,
debt-free, into the economy. |
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2. |
This authority should spend, not lend, a supply of money
into circulation on the basis of proven need.
This will reduce the overall burden of debt in society, break
reliance upon the banking system for the supply of money, and
open potential for limitless change.
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