Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Debt Mechanism At Heart Of Global Economic Crisis

ADVANCE New Zealand
A non political design for our economic future

Date: 30/09/2008 10:43 AM
Debt Mechanism At Heart Of Global Economic Crisis

The current crisis in the world economy stems directly from the 17th century mechanism still being used in this century to create purchasing power (money) in all its various forms mainly as interest bearing debt.

People who have studied the use of debt as money have warned of the inevitability of increasingly regular ‘adjustments and corrections’ as the inverted debt pyramid grows to the point of imbalance and becomes unstable. Unfortunately the owners and beneficiaries of the debt mechanism have succeeded in protecting and indeed extending their power and privilege to the point that their product has a 98 percent share of the total money supply.

When the monetary system becomes saturated with debt, as is the case today, the need is not to use more debt as a means to delay the tipping point, as is happening today, but to address the viability of using a mechanism of debt creation as the primary source of the money needed to ensure the economy is viable long term.

Simply loading more and more debt into any economy is condemning future generations of taxpayers to a greater burden of interest payments and a growing inability of the economy in practise to meet the needs and expectations of the people it is, in theory, designed to serve.

The only viable solution is the use of a mechanism that injects a regulated amount of purchasing power into the real economy debt and interest free as a counterbalance to the debt driven 'market corrections' which have been a repetative feature of economic activity for the past 150 years but more so since the advent of globalisation.

The only party in NZ proposing to change the historic debt mechanism, as the monopolistic source of ‘money’, are the Democrats for Social Credit www.democrats.org.nz


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On DHB Deficits And Free Trade

Currently the world is looking on aghast at the Trump administration’s plans to slash Obamacare, mainly in order to finance massive tax changes that will deliver most of their gains to the wealthy. Lives will be lost in the trade-off. Millions of Americans stand to lose access to the healthcare they need.

Spot the difference with New Zealand, where DHBs are under intense pressure to reduce deficits within a climate of chronic underfunding. More>>


Greens' Response: Slum-Like Rentals Exposed In Renting Review

“...The grim findings of the review are a wakeup call about the true state of rentals in this country. Too many renters are festering in slum-like conditions under the thumb of landlords who have largely unchecked powers and ignore tenants’ complaints when it suits them.” More>>


Gordon Campbell: On The Life And Times Of Peter Dunne

The unkind might talk of sinking ships, others could be more reminded of a loaded revolver left on the desk by his Cabinet colleagues as they closed the door behind them, now that the polls in Ohariu had confirmed he was no longer of much use to National. More>>


Gordon Campbell: On Labour’s Campaign Launch

One of the key motifs of Ardern’s speech was her repeated use of the phrase – “Now, what?” Cleverly, that looks like being Labour’s response to National’s ‘steady as it goes’ warning against not putting the economic ‘gains’ at risk. More>>


Lyndon Hood: Social Welfare, Explained

Speaking as someone who has seen better times and nowadays mostly operates by being really annoying and humiliating to deal with, I have some fellow feeling with the current system, so I’ll take this chance to set a few things straight.. More>>


Deregistered: Independent Board Decision On Family First

The Board considers that Family First has a purpose to promote its own particular views about marriage and the traditional family that cannot be determined to be for the public benefit in a way previously accepted as charitable... More>>


Transport Policies: Nats' New $10.5bn Roads Of National Significance

National is committing to the next generation of Roads of National Significance, National Party Transport Spokesperson Simon Bridges says. More>>





Featured InfoPages

Opening the Election