Free Money
Since debt money is at the heart of our problems, our highest priority is emancipating money. Many people correctly diagnose the flaws in the current system, but mistakenly conclude that the only answer is to move backwards and return to the “gold standard” of the 19th Century. This is an error. We cannot and should not move backwards. Instead, we must craft a new monetary system that takes advantage of modern capabilities and provides the most solid foundation possible to our economy and our democracy. We call this first reform Free Money.
Free Money removes the center of money from banks and relocates it firmly where it belongs: the people. In the Free Money system, new money is not created through bank loans in a destructive combination of credit and money policy. Instead, when the economy expands and we need more money to keep prices stable, we simply create more money – directly deposited as a “social dividend” into the accounts of every citizen. After all, money is a social function and when the economy does well, we should all benefit. With money set free of the distortions of debt, the economy can once again be guided by collective intelligence.