What’s Wrong About the Political Money and Banking System?

To cut through all of the peripheral points, the main problems with the political money and banking system are:
1. The issuance of money on improper bases, mainly government debt, real estate, and assets of questionable value.
Principle: Money should be issued on the basis of goods and services already in the market or shortly to arrive there. All other needs (capital formation and consumer spending) should be financed out of savings.
2. Legal tender laws that force acceptance at par of debased political currencies.
Principle: Legal tender laws should be abolished. Only the issuer of a currency should be required to accept it at par. In the absence of legal tender, debased currencies will either be refused or pass at a discount in the market.
3. The charging of interest on credit money that is created as “loans.”
Principle: Money should be created interest free as a generalization of trade credit that facilitates the exchange of goods and services.

— t.h.g.

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4 responses to “What’s Wrong About the Political Money and Banking System?

  1. The fundamental problem is simply that the government is printing more
    of our own currency without any added value in addition to borrowing from
    other nations (like China). That is why at the time of this writing there is a
    gold rush going on. Everyone wants to invest in the universal currency that has been and always will be the standard…before the inevitable global economic meltdown

  2. “Money should be issued on the basis of goods and services already in the market or shortly to arrive there.”

    i am unclear about the meaning of this. issued by those who are making the goods as well?

    havent the commodity monies already worked this way in a sense?

    if say gold was desired in the commodity market and additional gold intended for money could also be mined profitably would this not satisfy the issuance issue

  3. Dear Thomas, I agree with you. Your hard work on the subject coupled with an untiring knowledge dissemination work of a such important topic will form the base for a new awareness that will help the transition to find a sustainable path.

    Thank you. Thank you. Thank you.

  4. Tom

    These simple axioms are indeed what is right and fair. They are line with the natural law’s of money discovered by E.C. Riegel. (The only ones who really understand this are those who few that have actually read them as we have.) Individuals and business will need to facilitate their application as we reinvent money to free ourselves and all others from the current monopolistic system under which the whole world continues to suffer. Riegel said the political money system posed the greatest single threat to freedom. Now we understand why. Thanks for expressing it so well in so few words.

    Mike

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