Honest Money - A Challenge to Banking
After a series of boom years the Western economies, including
Japan, have begun to show signs of serious weakness. "Recession"
now appears on everyone's lips. There is a growing awareness
that something has gone significantly wrong in the world economy
and, in contrast to former periods of economic downturn, there
is little belief in an ability to recover quickly.
have become aware of one special phenomenon in this recessionary
crisis which raises questions about our former naive trust
in the monetary system: while production and service companies
are declining and failing, and while more and more people
are faced with long-term unemployment, there is one branch
of the economy which seems to recover through special privilege
and which appears now to get wealthier and more powerful year
on year - banking.
How can banks boom and grow while almost all others are ailing?
Could the reasons lie in the very structure of the monetary
system? Is it possibly inherent in banking itself?
Most thinkers in the monetary and economic field, including
"classical" economists, seem merely to have accepted
the money-lending role of banks as a "given". HONEST
MONEY is the necessary critical examination of this money-lending
HONEST MONEY's contribution
to the debate about the world-wide economic recession is substantial
and deserving of serious consideration by any who are genuinely
interested in resolving our monetary and banking difficulties.
"We are led to believe that the
purpose of the banking system is to lend money, that governments
and industry need bank lending to expand and create growth.
These ideas should be challenged and so, too, should the foundations
upon which they are built. Through these pages I will examine
in detail this fundamental presupposition upon which most
of us have based our lives."
John Tomlinson, author of HONEST
Section 1: Dishonest Money
A clear and penetrating analysis of the unacceptable face
Section 2: Honest Money
Corrective proposals flow with impeccable logic from the
analysis in Section 1, including massive world-wide conversion
of debt to equity.