Healthy Money Healthy Planet - library.uniteddiversity.coop

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It is quite fair that banks should charge reasonable fees for their services – after
all, they have to earn a living too. But to argue that they can charge interest on
money they have created with the stroke of a pen is allowing them a privilege
far beyond that given to any other citizen or corporate body. Fees exist in a
different category from interest.
Debt is a matter of personal choice.
The rich can choose, but the poor, often struggling to pay for food and other
necessities, have no choice. They are forced into debt. And most people can’t
buy a house without borrowing.
This is the system that works. It is the one we have now. People trust bank
credit.
If people knew that banks create money and have no right either to claim
ownership of their loans or to demand that they be paid back with interest, the
money system would suffer a huge crisis of confidence. Where is the stability or
sustainability of a system whose success depends on keeping the public and the
politicians in the dark?
Yes, in a way the system works, in the same way that the horse and the sailing
ship once worked for transporting goods. But things could be greatly improved
through the introduction of new money systems that will complement and heal
what has become a very unhealthy, unstable and inequitable system. This is
what we shall be looking at in Part 2.