End Usury
All credit (loans) issued free of interest.
Key Components
- Breaking the power of corporate banking and money market speculation.
- Restoring money to its proper role as a healthy medium for economic relationships as simply a means of exchange.
- An independent and public body responsible for issuing all credit (loans) free of interest.
- The repudiation (cancellation) of all existing debt where the lender has already received a 10% dividend in the form of interest.
- Ensuring there is enough money in circulation to cover the cost of all available services and commodities.
- The cancellation of all debt, under this new financial system, as it is repaid.
Related reforms:
A wealth cap, taxation reform, financial market reform.
Major effects and benefits
- Future generations are no longer saddled with a previous generation’s debt.
- Restoring the economic focus to innovation, productivity and growth.
- A more sable and predictable economy for investment.
- No large wealth inequalities caused by financial market speculation.
- The possibility that increasing automation can be met by a ‘national dividend paid to all those out of work without the need to tax others to do it.