Here are some facts, they are not opinions.Economics is as simple and as easily understood as it is honest. Likewise, economics is as complex and difficult to understand as it is dishonest. In existing culture, there is no place for ethics in economics. All is fair in love, war and business. Economics is study and practice of production and distribution of goods and services required by human race for its survival. In existing global scene, we over produce and fail to distribute.
The situation is this:
With modern technology we can produce far in excess of our needs. There is a tendency to over produce alongside an inability to effectively distribute what we produce. We accumulate enormous surpluses. A war of attrition develops, as producers compete with each other, to sell what is not needed or wanted. A multi-billion dollar industry, called advertising, creates a demand for what is not wanted. Odd phenomena, like global warming, are by-products of commercial warfare. But at same time a failure of distribution condemns billions of our fellow human beings to live in dreadful poverty and they die in their millions from starvation and preventable disease. Those in power rely on genocide as only solution.
So let us look at what has gone amiss with distribution.
Distribution beyond a barter system requires a means of exchange. We have decided to use money as our means of exchange. But we have failed to define word 'money', so that economics is flawed and unsafe.
These are all simple, self evident facts.
A successful economy grows. If it stagnates, it is dying. Therefore, to enable economics to function, when it uses money as its means of exchange, money supply must be able to increase without impediment, as economy makes its healthy growth. Therefore there must be an inexhaustible supply, of what is used as a means of exchange, that can be drawn upon as advance of economy proceeds. The rules which determine speed at which new money must be added to economy must be clearly understood, easily seen, and thus easily monitored by people. So as to see that it is done honestly. We tried using gold as our means of exchange, but supply of gold could not keep pace with demand. We resorted to use of tokens of gold to augment supply of gold.
This opened door to dishonest broker. He came to be called a banker.
The banker invented concept of credit to represent idea, that there was gold somewhere being represented by credit. Thus instead of gold as a means of exchange, we had an idea, which served as a means of exchange. As you cam see, and feel, whole business of money becomes hugely complex. So complex that people give up on it, and say they do not understand money. They then submit to fraud and you have existing scene.
Let us see clearly what fraud is, so that we know what we are up against and why we need an economic renaissance.
By Law, private financial institutions are allowed to create and issue new money into circulation as credit. They can claim that assets can be used to substantiate validity of credit. This allows them to seduce governments, businesses, and private individuals into accepting credit as a loan of money.
The instant a person accepts credit as a loan, Law states that he is a debtor and owes money.
He has to earn money to redeem loan, and financier has then created money by counterfeiting money using sleight of hand.
This is modern alchemy. Instead of turning lead into gold, banker turns credit into money. And that is fraud. This is all very simple and if you feel confused, just go back and re-read it and spot point I lost you. We do not wish to go back to using gold as money. Gold is too heavy. The way forward is forward, not going back to Gold.