When will people recognize that the problem is the system? Specifically, the problem is the way the economy is supplied with money: using debt. All of the money that comes into the economy is the result of new debt — public or private. That is economically inefficient: we have learned that debt grows faster than the economy (i.e. total income) does.

[The one exception has been ‘quantitative easing’ (QE), in which money is created for the central bank to use to purchase existing debt (in one form or another) from favored financial entities.]

A better way to supply the economy with money (as currency) would be to have that money come into the economy in the form of a (bullet-proof) income paid to eligible citizens. “Eligible” could include any adult citizen who was unable to work, to include “unable to work” as a result of a natural disaster — such as a pandemic. We could use the same process to fund government (all government, central to local) without taxes or public debt.

To prevent inflation money would have to be returned to its point of origin (either the existing central bank or a new Monetary Agency), but individuals and businesses could retain plenty of money (based on income/profits) and (unlike taxes) no money would be collected before it could be used (at least once) for purchases or investment.

“A Truly Great Idea” “Re-thinking the Economy’s ‘Fuel System” “A Cure for the Ills of Capitalism” “A Call for a (Further) Central Bank Revolution” “How to Transform the Society of Any Nation” all here in Medium