A Possible Solution (by Positive Money)

Posted: May 24, 2014 in Debt, Economics, Monetary System, Uncategorized
Tags: , , , , ,

Commodity money is not the only alternative to the fiat based system. Where currently the banks have the greatest control over the supply of money, one suggestion put forward by the Positive Money group is to take this power away from them and rest it with an independent accountable committee.

Read their proposal here, written in easy to understand terms. A more technical guide also exists for more advanced readers. View the site below;

The Positive Money Alternative

Whilst it is worthwhile considering all work put forward in attempting to end this unjust system, and where no solution should seek to create a utopian world, the obvious problems with this proposal are as follows;

  • Fiat (non-commodity) money will still exist, albeit in a ‘controlled’ and debt-free form
  • How independent can any committee be, and the risk of manipulation will still be present from the government and parties close to the commercial banks.

However, some of the advantages are to be welcome, and work such as this greatly helps the discourse when it comes to theorising about an answer to the status quo.

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