The central banking system is killing our economy. Even if the boom and bust business cycle isn't created by the fed artificially creating massive demand, what we now know as "money" can't be called ethical. Basically how it works is that the Federal Reserve bank lends credit at interest to other banks who tack on some more interest and issue it to still other banks who lend it to us at even more interest. So where does the fed get the money it lends? It creates it out of a puff of magic. Thats right, we pay them trillions in interest on this non existent commodity called the Dollar that they just make up. The structure is illustrated perfectly and ironically on the back of the the dollar bill.The central bank has a government sanctioned monopoly on the creation of currency. If this arrangement isn't corporatism I don't know what is!
The reason they do this they say is to regulate the amount of money in the economy in order to prevent recessions and depressions by increasing the money supply in the bust phase of the business cycle (all while becoming stinky filthy rich). Of course the bust phase is usually caused when a segment of the economy has artificially inflated prices due to excessive demand created by issuing lots of ultimately valueless currency, as in the current predicament we find ourselves.
What if there could be competing forms of currency not issued by the state, or some legally sanctioned corporate monopoly?What if we could make our own money? I'm not talking about counterfeiting here either. I'm talking about LETS, or Local Exchange Trading Systems.
It's interest free decentralized community currency created by everyone in the system every time anyone does any work for anyone else in the system. How it works is this: say I'm a web designer, and your a plumber. You need a website but I don't need a plumber. Thats ok, when I spend x hours on your site, you credit my account x hours and then I can redeem those hours with anyone participating in the system, if they want to. They probably will since that time would then be credited to them.
This system has the advantage of keeping wealth in the community and is inflation proof. As an added bonus, it's all completely voluntary, unlike participation in the official system
This isn't some anarchist pipe dream either. It was developed in Canada in the 80's (although based on the ideas of Josiah Warren, One of the Individualist Anarchists of the 19th century) and there are now hundreds of LETS around the world with tens of thousands of members. They are particularly popular in Britain where almost everyone has access to Them. They are so widespread that its rather common for people to buy cars, groceries and even pay rent all with LETS currency. How great would that be?Check out this link: LETS - Local Exchange Trading Systems or maybe even Google it. Also, watch this video: Local Exchange Trading Systems.