What do supporters of internet freedom, the yellow vest movement in France, the Occupy protestors and the Arab Spring have in common? A feeling of INEQUALITY. A feeling that the system has too much control and that it is unfair.
All of these supporters use remarkably similar language to express a core belief: that the establishment’s economic model is rigged against them.
Statistically, these movements are correct: inequality is rising in all developed economies around the world. But, what is the common cause?
There are a number of factors that cause inequality in society, but one stands out across jurisdictions: the structure of the traditional banking system.
Here are a few technical findings:
- banks create most of the money in advanced economies (not the state).
- the mechanism for bank-created money intrinsically leads to wealth transfer from the many to the few.
- the few use their preferential access to bank-created money to advance their own interests and to exercise disproportionate control over the political system.
- this leads to institutional discrimination against out-groups.
- the process of bank-created money reduces the effectiveness of monetary policy and causes excess variance in the business cycle.
- the banking sector enjoys unparalleled protection by the establishment against competition.
A new book shows that a technology-based banking + money system could address these inherent drivers of inequality in society.
This book solves some mysteries, like the following:
- Why is fractional reserve banking like a distorted version of the game Monopoly?
- Why does the establishment find women’s sexual education repugnant?
- Why does the economy blow up from time to time?
- Why was Karl Marx so pissed off?
- What does Professor Sybill Trelawney have in common with the governors of the Federal Reserve?