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Debt Mechanism At Heart Of Global Economic Crisis

ADVANCE New Zealand
A non political design for our economic future

MEDIA RELEASE
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

ENDS

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