Take the Power to Create Credit Away from the Giant Banks and Give It Back to the People

From Washington’s Blog, November 4, 2009

People of good faith debate whether the gold standard, or national, state or local public banking is the best solution.

But they agree that the current fiat currency system where the creation of credit is controlled by the private banks has pushed us into an economic crisis and a credit crunch, with little hope of stability for the future.

Changing to a public banking system and/or reimplementing the gold standard would clearly be a large change. But remember – as Buckminster Fuller pointed out – building a new model is often easier than fighting the existing one.

The time is right for a new model.

Read the whole article here.

For more articles on this topic by this author, see Washington’s Blog.

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