Abstract:
Money in the current system means debt. Consequently, the way, in the current system, that we
have to have money is to borrow it. One of the ways that the economy was kept going was by
providing cheap credits to people who couldn‘t really afford things anymore. Banks create new
money whenever they extend credits. The amount of money they‘re creating out of nothing is just
incredible. Of course, this newly created money is being distributed according to the priorities of
the banking sector, not the priorities of society. There are two main issues with allowing banks to
create money. Firstly, by creating money when they make loans, banks impose that a healthy
growing economy has to exist, which is not always the case. The second big issue with allowing
the banks to create money is their incentive to always create more. They create more money if
they issue a loan. If you trust bankers to control the money supply, it will just continuously grow, as
the level of debt will do, until the point when it crashes.