People, Planet & the Power of Money Project
Change Our Money—Change Our World
We can change the world, if we change our money. All we need to get started is a little basic information about who creates our money and how they create it. Money Creation 101 gives us this and more.
Money Creation 101
Money is the one absolutely essential thing we all need to simply survive in modern society. Of course, we need clean air and water and also food, shelter and clothing, but we use money to get these things. As such, it logically follows that our knowledge of who creates our money and how they create it is vital to the survival of our democracy and ultimately the health of our planet.
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Most of us have a basic understanding that:
1. Our government creates our money.
2. Banks only loan money that already exists.
3. The Federal Reserve System is a part of the U.S. government.
We think the above 3 things are true because intuitively our common sense tells us they should be true. Actually none of them are true.
1. Our government creates only a tiny sliver of our money.
2. Banks only loan money that they create out of thin air when they make a loan. This bank-created debt-money makes up almost the entirety of the money supply that fuels our economy and lives.
3. The Federal Reserve System is independent of the U.S. government and all 12 Federal Reserve Banks are 100% owned by the private banks in their districts.
Money Creation 101 explains who creates our money (banks) and how they create it (out of thin air) in language that we can all understand. The banks can only create this money because all the other banks are doing exactly the same thing and the Federal Reserve System is there to oversee the process.
Money Creation 101 interviews economists at the Federal Reserve and top ranked university programs that are unable to clearly state how our money is created. It gives a voice to economics students across the globe that are fed-up with their university programs that lie to them about money creation. Artificial Intelligence, climate change, dying oceans, species and ecosystems loom on the horizon. These economics students know that they will be asked to find solutions for these problems after they graduate. These students are beginning to wonder how on earth they can be expected to solve big problems within a structurally unsound system of bank-created debt-money.
Money Creation 101 takes to task the majority of economics professionals that have been content to sit silently on the sidelines while those that hold the power to create our money (Money Power) have used disinformation and outright lies to keep us from understanding what's going on. When truthful articles and research have managed to surface, economics professionals at the Federal Reserve and university level have almost completely ignored them. Yes, the economics profession at the Federal Reserve and our nation’s universities is guilty of shunning the concept of publicly created money. Shunning is abuse and the victims of their abuse are not those of us that propose a reform of our money system. No, the real victims are the people and the planet who desperately need publicly created money to tackle both the structural inequality in our society and the environmental crises destroying our Mother Earth, beginning with climate change.
Money Creation 101 does not advocate for an unjust, immoral, secretive system in which money is privately created by banks when they make loans. No, that is the system we are currently have. Instead Money Creation 101 advocates for a just, moral, transparent system of publicly created money that is created debt-free for the needs of the nation and its people as determined by our Congress. This just system of publicly created money was put into Congress in 2011 as the NEED Act. It is ready-to-go legislation that can easily be updated for today.
If you are looking for a solution to the multitude of problems and crises that currently overwhelm us, Money Creation 101 is the place to get started.
