Aljazeera: Debt-free Money May Well Be the Solution
What’s all the fuzz about money?, asks Aljazeera in its article on 5th April
Debt-free money may well be the solution to restoring a sane monetary system.
What if money itself needed to be changed? This is not a debate about the financial system per se, but actually an argument about the intrinsic “design” of money.
But, isn’t money just money? No, it isn’t, and paradoxically, though the debates precedes its emergence, the internet played a big role in teaching us a new truth: Money is designed, and that design matters.
Today though, money creation has become a largely private affair. Not only is government money created through debt, but most money in circulation is also created through the leveraging of banks. Most of the money is lent into existence and thus essentially created by private banks in a system of generalised compound interest.
You can read the whole article here.
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