What is a key cause of inequality in society?

What is a key cause of inequality in society?
By Robert Sharratt

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?

What is a key cause of inequality in society?

In the end, this is not really a book about money and banking; it is more about our values as a society.

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