Why do We Allow Private Banks & Families to Control the World’s Money?

Phillip J. Watt/Waking Times

The masses can no longer escape the knowledge that they’re being taken for a walk down a dark alley. The way money is created in our global society benefits the so-called elite at the expense of the 99.9%. It doesn’t have to be this way though, all we have to do is stand up and demand that it change.

Money is no longer backed by anything concrete. It used to be, when it was attached to the gold standard, but for the last several decades if you and I were to get a loan from a bank we’re not actually being loaned anything that they physically have. Instead, they punch numbers into a computer, which creates new money that is placed directly into our bank accounts.

That’s right – they create new cash out of nothing. They don’t get it from their vault, or borrow it from another source, they just create it on their computer. This begs the question: why do we allow private stakeholders, such as the banking families that control the world’s financial and political spheres, to profit from money that was created out of thin air? Can’t we just generate new funds for the benefit of the people and direct the profits back into the community?

Of course we can. If so, we could genuinely attempt to finally overcome poverty, homelessness and other socioeconomic disadvantage. In fact, there are some places on earth that have already taken the lead in transforming the way money is created and distributed in their society.

First of course is Iceland, who not only jailed 26 bankers for their fraudulent behavior that contributed to their economic meltdown during the GFC, but they are also initiating massive reforms to their banking sector. Additionally, they are going to give every citizen a share of the profit from the sale of one of their biggest banks.

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