About

This blog intends to point out

1. the fact that there are two kinds of money in circulation:
   • Cash, consisting of notes and coins, issued by the State
   • Credit, aka “central bank money”, issued by monetary and financial institutions
2. that there are fundamental differences between these two kinds of money
   • for Cash, the authority of the issuing agency is in the UK the Sovereign, i.e. The Crown or HM The Queen
   • “credit money” requires “interest money” that nobody issues
3. that the effects of interest are equally debilitating for the public and the private sector of the economy:
   • every interest payment requires borrowing from Peter to pay Paul
   • mainly the people in monetary and financial institutions benefit from interest payments
   • the growth of compounding interest on interest is exponential, i.e. unsustainable; see understanding exponential growth
4. that increasing the money supply is decreasing the value of the currency due to printing “money”
• the value of “money” is deflated as the money supply is inflated willy nilly
• the function of money changes from “medium of exchange” and “store of value” to “tool for control”, since debts are legally enforceable
5. the fact that credit becomes cash or “money”, behind the bank counter, means:
• the quality conditions under which Cash is produced, the correctness of paper and printing for notes and the quality of metal for minting coins, are not applied
• no quality control means absence of quality, if not counterfeiting…
6. the fact that governments facilitate this process of Credit becoming “money”, aka laundering, means:
   • by borrowing money as “national” or “public debt”, the supply of “credit money” is increased, i.e. the value of the currency is debased to the detriment of the nation
   • by demanding taxes to pay interest to the financial economy, the real economy is debilitated
   • no matter which party wins an election, governments have been perpetuating the process of borrowing more and more through the budget deficit
7. the trend that has led to virtually replacing Cash with credit money from 50/50 after WWII to 3% Cash in the money supply; see What is the Cash Crumble?.

The blog was inspired by a lady who wanted to spread the message about Money as Debt. She had been aware of the activities around the Forum for Stable Currencies and offered her support.

The Forum has been advocating economic democracy through freedom from national debts as the ultimate goal. But the road to economic democracy is marked by many milestones that many people can contribute.

The purpose of this blog is spelled out in our first post.

An alternative to the current system of creating money as a financial product is on the (proposed) Bank of England Act 2010.

My name is Sabine Kurjo McNeill and my profile is on LinkedIn.