Promoting Local Currencies

What is local currency?

Fractional Reserve Banking

Posted By on November 14, 2012

People have been asking me, isn’t it¬†Fractional Reserve Banking that is the problem in our current financial system? No, it is not. It is interest that is the problem. Local currency as we promote also practises¬†Fractional Reserve Banking. By creating money out of thin air for businesses to borrow is a necessity for economical growth. But asking interest on this money would be , according to me, theft. Money is a means for exchange, not a product to speculate with. Money is the blood in the economy, and should flow freely. Who would we give the right to to make money with money? Why only them? As is the case in this time and age, the money masters keep the impression high the money they lend is from savers, and they, like you, have the right to interest. They forget to tell at least 100% of the money they lend is created on a computer. The money from the savers is merely a collateral. You can imagine the profit the money masters make…


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