http://www.wikio.co.uk Sodium Haze: Go back to 100% reserve banking

Tuesday, 31 May 2011

Go back to 100% reserve banking

A huge part of the problems we currently face as a species flow from the inequities of our system of money supply.

Most people imagine that money here in the UK is created by the Government and / or by the Royal Mint.

But it isn't. The shocking truth is that over 97% of our money is actually created as debt by private banks.

We can fix so many problems with our economy and the damage it wreaks on the environment by radical reform of our money supply - and we can fix none of them if we don't.

Herman Daly - a former economist at the World Bank agrees - watch his testimony for the need for monetary reform below.


Herman Daly on Full Reserve Banking from Mike Freedman on Vimeo.

 
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