What If Money Itself Is the Problem?

Jay Owen Reforming Global Finance, Community Development Solutions, Beyond GDP, Latest Headlines

“Ethical Markets highly recommends this article by Oscar Perry Abelo in Yes magazine, which helps expand all the efforts we have made to illuminate the politics of money-creation and credit allocation, in our TV Special “THE MONEY FIX“ uplinked to PBS station in the USA in the past ten years, as well as in my “Building a Win-Win World: Life beyond economic Warfare (1996, e-book 2004) and “Time To Dethrone Economics“ and “Valuing Love Economies“.

We have quoted our friends Tom Greco, the late Bernard Lietaer, as well as Susan Witt, co-founder of the successful local currency “Berkshares”, Switzerland’s WIR and many other successful alternatives to the conventional money-supply issued through private banks and Q. E.  We advocate only “Green Q.E.”   We work with Positive Money in London and Brussels, challenging the Bank of England and the ECB to stop buying fossil assets and mortgage-backed securities which, in the current plumbing, are piped back into housing and other asset bubbles.  See also our many book reviews on alternative at Books& Reviews on www.ethicalmarkets.com.   We also partner with SolarCoin, the rewards crypto, only for those producing with 3rd party verification, kilowatt hours of solar electricity. Since corporations and most people are still puppets of finance, we went to the top of the food chain and targeted the politics of money-creation directly.

~Hazel Henderson, Editor“

 

August 13, 2021

 

Rethinking Money as a Force for Equity

OSCAR PERRY ABELLO

 

There is more money in existence today than there has ever been in the history of money.

For most of us, it certainly doesn’t feel that way, with millions of people behind on rent, more than $1.5 trillion in U.S. student loan debt outstanding, and by some estimates as much as $12 trillion still owed in reparations to descendants of enslaved Black people in the United States.

Where would $12 trillion even come from? It’s a fair question. But as it happens, in just one month—April 2020 to be exact—the U.S. financial system conjured up precisely $12 trillion out of thin air, on top of the $4 trillion already floating around the economy.

Where did all those new dollars go?

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