If you are still able to enjoy nice Spring afternoons, riding around with your hair blowing in the breeze, you have been most regretably underexposed to alarmist media about the impending collapse of our current monetary system. Let SpyCat wipe that carefree smile off your face with harrowing tales of banking conspiracies.
Unfortunately, monetary policy is hardly an inspiring villain. Think Alan Greenspan: as you are lulled to sleep by the monotone voice and deadpan expression, you hardly suspect the evil that lurks under the surface. "Maybe he really didn't see that bubble coming," you think to yourself, unaware that this was all a carefully designed plot to hoodwink the populace. While the people are snoozing, however, they are definitely losing.
The first step to instill fear in your soul will be watching this informative, terrifying cartoon about how money is created. You will never be the same again.
Next, let us examine the many ills of our current system.
It is partisan
"Fed" is a carefully cultivated brand identity, which many people associate with the government. However, it's not part of the government. Nor is it subjected to Congressional oversight. That's right: our money supply is created by private financial institutions on a for-profit basis, and decisions are all made behind closed doors. This money system is designed to benefit those who provide it (ie bankers), not for us, the end users.
We are encouraged to think of it as a 'thing'
Money is essentially information and has no physical existence. Yet as long as we are convinced that it is a thing, banks can continue to charge us exhorbitant rates for it. 'Thing' money is purposely created, distributed and controlled so that there is not too much of it. It can also be stolen, lost, bought, sold and counterfeited, with serious consequences for everyone.
It causes cancerous growth
Banks continuously need to create more money than is required to pay back their loans so that borrowers can pay back the interest on those loans. This is the source of the growth imperative of our economics. There must be a continual expansion of bank credit or else the economy goes into recession. Systemic growth leads to the environmental problems we now all face. (For a must-see lesson about exponential growth models, check out the following video. What Professor Albert Bartlett lacks in fashion, he more than makes up for in brainpower).
Its value is based on its shortage
The shortfall of money keeps it valuable. There only needs to be enough of it to buy back the goods and services available. This has nothing to do with the monetary requirements of people. Those who have none are not seen by the market and so are marginalized.
It is expensive
Every unit of conventional money is based on a unit of debt. This debt has to be paid back with interest, and the interest on the interest is compounding. Interest is built into the prices of everything we buy, resulting in higher consumer prices.
It redistributes wealth from the poor to the wealthy
Usury is the tool used by the wealthy to suck wealth from the poor and middle classes to the moneyed class. Parasitism and antagonistic social classes are the product of this.
It promotes dishonesty and corruption
You can get it without delivering anything of value (e.g. speculation, interest, gambling etc.) so people concentrate on 'making money' rather than producing/delivering anything of real value.
It leaks away from where it is created
Dollars don't go where they are needed. They flow towards the money centers, towards the people who already have them. Again, money goes from the laborers, who actually do the work, towards the rich, who have enough money to collect on the interest. You have probably heard the statement, "You have to have money to make money." That's correct!
It destroys local economies
Hello, Walmart! Goods produced cheaper elsewhere replace locally produced goods. This creates a local shortage of money and reduces the market for local sellers. This also results in the irrational transportation of goods all over the world, consuming precious fossil fuels and creating pollution.
It fosters competitiveness
The shortage of money means we all have to fight for a share of an amount that is too small to go around. The need to repay interest means that we have to eat others to prevent ourselves from going under.
It creates poverty
While it makes some super rich, it makes most people poor. Poverty is caused by a lack of money (not by a lack of jobs). Usury and the need to keep money scarce ensure that money constantly moves to those who already have money. Although it may seem to you that poverty is inevitable, it really isn't. Throughout history, the societies that have had matriarchical currency systems have experienced much less poverty, hunger, and unemployment.
It causes social and cultural degradation
The elimination of local opportunities to exchange and relate to one another focuses attention on ways of getting money outside the community. Communities fall apart as they become indebted to entities outside their communities.