Money as Debt
Many of us are watching the current economic crisis with great interest (albeit with a lot of concern). A lot of us could also see it coming. Our modern economic systems are ultimately inviable, based on ever increasing debt and ever enlarging boom and bust cycles. Systemic economic collapse is inevitable, and painful (indeed, disastrous) though it may be, in many ways the sooner it happens the better it will be for the world. Our ecologies are running out of time, the rate of species loss is becoming exponential, the depletion of critical resources is moving ahead apace, and our human population continues to balloon year by year. We have formerly democratic nations heading towards fascism, and a massive consolidation of power giving money-motivated corporations the controlling influence over governments and media. Creating a whole new society will be excruciatingly difficult – but it will be impossible if we’re trying to do so without decent resources left to work with.
Watching the mortgage crisis in the U.S. is frustrating to say the least. We have thousands of defaulters becoming homeless, and yet, as you shall see in the clips below, the money they’ve borrowed to purchase their house was not even the banks – indeed, it didn’t even exist, but is essentially created out of thin air. The bank ‘loans’ money it doesn’t have, then when the borrower defaults, his home becomes the property of the bank – and yet the banks subsequently manage to secure massive bailouts from this same taxpayer.
The current system of money being debt, and debt being money, puts us on a conveyor belt that ensures wealth will always gravitate to those controlling the money supply. People argue over whether we should be on the political ‘left’ (state controlled economies), or ‘right’ (corporate controlled economies) – but each ends in centralisation. One form of control is voted in, the other purchased in. We need to find a ‘third way’, and fast. We need an economic system based on community stewardship/management of natural capital, and one that measures wealth in real terms – health and happiness (think GNH – Gross National Happiness).
Watch the following well-produced clips to get an easy to understand overview of how we got into this mess. Oh, and if any readers out there can come up with a viable blueprint for the needed ‘third way’, we’ll send you a free copy of our Water Harvesting and Food Forest DVDs. It doesn’t sound like much of a reward for saving the world, but just coming up with the plan is only the beginning…. Getting 6.7 billion people to take the plan and run with it is the real mission. If you can do that I’ll personally give you ten million dollars (it’s a safe reward for me to offer, as in the world you’d be creating with your plan, you wouldn’t want or need it…).