[wsfii-discuss] Worldchanging article on Complementary currencies

Thu Oct 6 12:52:45 UTC 2005

Dear Mike
As Mamading has pointed out there are MANY MANY reasons
why people engage in the development of Complementary Currencies.
The essential thing about ordinary money, which I didn't really go into
a the beginning because it's such a major topic it's overwhelming, and I
would have got stuck there if I had started, was that conventional money
is created by a small monopoly of the banking fraternity, and connived
at by government.  What they do basically is WRITE MONEY DIGITALLY
then create a debt account for you to pay it back, and hey presto, huge
profits.  If you don't believe me, think about (a) the volume of bank fraud and
(b) the level of default ie people unable to pay credit card debt, bankruptcies
etc, you will realise the margins on this business are so high, they can absorb
these costs, and carry on happily.  The device of charging interest on the
deal is a smoke-screen just to make us all believe they got the money from
somewhere else and need to make their profits as a service cost of lending.
Those who are already winning can then invest their money in the stockmarket
and in currency trading, and hey presto event more wealth.  That is why I
said in my short presentation that the system is ENGINEERED to produce
great wealth (for a few) and great poverty for the majority.  So the task
of creating compLEmentary systems which behave differently is one of the
most important that we can engage on, in tackling global poverty.
..M

>On 06/10/05, Mike Ryan <mike.ryan at redmar.com> wrote:
>  > I do feel I'm missing the general point here.