The following correspondence was sent to me by a gentleman called Ronald Stamper. Please read his intriguing essay and views on monetary reform and feel free to offer your own comments.
By attacking capitalism one risks attacking too much at once. Whereas, by reforming the money system, we could eliminate 90% of the worst aspects of capitalism by passing one simple Act of Parliament.
No other aspect of capitalism is nearly as important as the money system over which the super-rich have gained almost total control and which they use to milk the economic system.
Bankers exercise an incredible degree of control over the media and they make sure that the money system is not understood or on the agenda for us to discuss. Thus the scale and iniquity of their power remains hidden.
How well hidden you demonstrated when I asked you, as I ask many, many people, if you knew where our money originates. Your answer was exactly the one that any honest person would give. The truth is almost unbelievable to every honest person. I did bet with myself that you would be more likely than most people, to know these facts.
The banks create 97% of UK money and 100% of US money out of thin air, as debts when individuals or companies or the government borrow money, simply by writing a note of that debt in their books. We then give them the right to charge interest! Compound interest indeed!!! If anyone else did that they would be open to criminal charges.
If the banks were forced to function as you and virtually every honest person assumes, most of the reforms that you and I dream of would be achieved.