by Charles Hugh Smith
from CharlesHughSmith Website
is to create and distribute money at the base of the pyramid
rather than to those in the top of the pyramid.
...and so on.
All these goals are laudable, but if we don't change the way money is created and distributed, nothing really changes:
If the money creation/distribution
system isn't transformed, "reform" is nothing more than ineffectual
policy tweaks that offer do-gooders the illusion of progress.
In the current system, money is created by central and private banks at the top of the wealth/power pyramid, and distributed within the top of the wealth pyramid.
The only possible output of this system is rising wealth inequality and debt-serfdom for three reasons:
Three different perspectives of the
wealth pyramid illustrate how our money system generates wealth
inequality as the only possible output of the system:
The system of central banks, private banks and fractional reserve lending is global.
The net result is that globally, the vast majority of wealth is owned and controlled by those at the very apex of the wealth/power pyramid:
In the U.S., the wealth-income pyramid can be represented by an inverted pyramid:
This pyramid illustrates how the money creation and distribution pyramid works:
There are a number of proposed alternatives to this the rich can only get richer and the rest of us can only get poorer system.
The only real solution in my view is create and distribute money at the base of the pyramid, to those generating useful goods and services in the community economy, rather than to those in the top of the pyramid.
This money isn't borrowed into
existence, so there is no interest to be skimmed by its creation.