Positive Money – Moderates United

I continue to view the efforts of the Positive Money people to educate people in Britain about the nature of our financial system favorably, and continue to view their proposals unfavorably. Here is a comment I left today on their new website. What I did not mention is that, as of the last time I read their proposal, the idea was to do gradually something almost identical to the deflationary process that initiated our own Great Depression. In conditions of high levels of debt, deflation is devastating. This means, inescapably, and as a simple matter of exercising logic, that any serious solution must first eliminate that debt, which my own proposal does.

The problems described are quite real, but the proposal simply transfers
power from banks to the government. Whoever has the power to create
money has the power to create wealth from nothing. Why is this
intrinsically better when done by the government? Why not anticipate an
expansion of the symbiotic relationship that already exists between Big
Business and Big Government? Because your panel somehow becomes
ethically superior? There is no functional difference between banks
creating money for themselves, and money being created by government and
parceled out to chosen corporations.

The logical solution is to
end money creation outright. This is the ONLY equitable solution, the
only solution that does not recreate a de facto master/slave
relationship.

My proposal to do this is here: http://www.goodnessmovement.com/Page23.html