John Tomlinson

A Challenge to Banking


SECTION ONE - Dishonest Money
A clear and penetrating analysis of the unacceptable face of banking

  • Inflation Is Not New
    "Money which continually loses value is dishonest. It acts like a thief." Here we look at how inflation causes chaos and how to measure money's dishonesty.

  • Creating Distrust
    Introducing why interest rates are the wrong tool to fight inflation and why we need to take a critical look at the basic mechanics of the monetary and banking system.

  • The Mechanics of Misrepresentation
    "The very mechanics of the lending process produces misrepresentation: it is dishonest". The basics of the lending system and why it is dishonest.

  • Invalid Claims Made Legitimate
    "We have allowed the emergence of a monetary and banking system which continues to debase the currency by its own actions." How the money lending system has, over time, institutionalized misrepresentation.

  • Paper Money
    "...the international banking community will now expand the world's paper money supply to the point of imprudence." How the money lending system and the production of money by central banks create inflation, and the possible consequences of this system.

  • Economic and Business Cycles
    "...economic and business cycles are one of the results of having superimposed the mechanism of money-lending onto the system for storing and distributing money." How debt finance creates economic and business cycles.

  • Piecemeal Solutions
    "Inflation is the result of the production of new units of money. It has nothing to do with the distribution of existing ones." Why current solutions to the problem of inflation are misguided and will not stop or even reduce inflation.

  • The Hourglass Is Emptying
    "Without change the future of the Western monetary and banking system looks very bleak indeed." As we reach the borrowing capacity of the population the banking system will be unable to produce the new units of money necessary to meet withdrawals and maintain customer confidence. Without continuing expansion the current banking system cannot survive.

SECTION TWO - Honest Money
Corrective proposals flow with impeccable logic from the analysis in Section 1, including a massive world-wide conversion of debt to equity.

  • The Requirements of Money
    Before undertaking any change, it is vital that we have a clear picture of the requirements of sound money and a sound monetary system. Here we set out the goal that any change required must achieve.

  • A Major Re-Think
    In this chapter we explore the legal issues that must be overcome in the change from a debt based economy to an equity based system.

  • Serious Surgery
    If we change our existing dishonest monetary system for an honest one we can actually begin the process of seriously addressing the problems of inflation, debt, unemployment and growing government budget expenditure. Here we outline the practical steps necessary to go through this change.

  • Sound Money
    We explore the consequences of the conversion from a debt based system to an equity based system. The possible changes in social and economic terms and how we would have to re-assess the value of money, good and services.

  • World-Wide Changes
    Applied on a world-wide basis, the conversion of debt to equity can also resolve the international debt problems.

Converting from debt to equity can have many positive benefits, to conclude we look at these benefits and how to ensure they follow conversion.

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