Quoting the Crisis

05/11/2009

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People of good faith debate whether the gold standard, or national, state or local public banking is the best solution.

But they agree that the current fiat currency system where the creation of credit is controlled by the private banks has pushed us into an economic crisis and a credit crunch, with little hope of stability for the future.

Changing to a public banking system would clearly be a large change.

But remember – as Buckminster Fuller pointed out – building a new model is often easier than fighting the existing one.

The time is right for a new model.

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Guest Post: Take the Power to Create Credit Away from the Giant Banks and Give It Back to the People « naked capitalism

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