While economic textbooks claim that people and corporations are competing…

While economic textbooks claim that people and corporations are competing for markets and resources, I claim that in reality they are competing for money ~ using markets and resources to do so. Greed and fear of scarcity are being continuously created and amplified as a direct result of the kind of money we are using. For example, we can produce more than enough food to feed everybody, and there is definitely enough work for everybody in the world, but there is clearly not enough money to pay for it all. In fact, the job of central banks is to create and maintain that currency scarcity. Money is created when banks lend it into existence When a bank provides you with a $100,000 mortgage, it creates only the principal, which you spend and which then circulates in the economy. The bank expects you to pay back $200,000 over the next 20 years, but it doesn’t create the second $100,000 ~ the interest. Instead, the bank sends you out into the tough world to battle against everybody else to bring back the second $100,000.

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Bernard Lietaer, economist, one of the designers of the Euro

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