It explains why money not only makes the world go round but also wrecks the world in the process. Kennedy vs the federal reserve banking cartel on june 4, 1963, a virtually unknown presidential decree, executive order 11110, was signed with the authority to basically strip the bank of its power to loan money to the united states federal government at interest. Money earns interest and with interest on interest. In the present monetary system we are all equally affected by interest 25. Margrit kennedy, bernard lietaer and john rogers isbn 9781908009760 triarchy press, 2012 people money on. With the stroke of a pen, president kennedy declared that the privately owned federal reserve bank would soon be out of business. As a medium of exchange, money is one of the most ingenious inventions of mankind, as it facilitates the trade of goods and services and allows for specialization and the division of labor however, compound interest and inflation have caused our monetary system to balloon to the point where bailing out banks, large corporations, and even entire countries will not preventas a. In setting shortterm interest rates conditions in the money market, the fomc engaged in openmarket purchases exclusively in treasury bills. Kennedy, margrit, interest and inflation free money, seva international, 1995. Back to text 28 personal communication, september 1999. No angloamerican economist has come close to countering the scam of usury losery as has dr. Creating an exchange medium that works for everybody and protects the earth kennedy, margrit, kennedy, declan, creutz.
Finally, the concentration of extra money in the economy leads to inflation. From the treasuryfed accord to the mid1960s federal. As interest rates are lowered, more people are able to borrow more money, causing the economy to grow and inflation to increase. Chapter two, creating an interest and inflation free money, p. What is the relationship between inflation and interest rates. Creating an excange medium tat works for everybody and protects the earth.
Creating an exchange medium that works for everybody and protects the earth. Interest and inflation free money wednesday, july 23, 2014 11. So, they would be lost large amount of money if they calculate with the current value of currency. Federal reserve policy and bretton woods federal reserve bank. The relationship between real interest rates and inflation nbp. The higher interest rates are, the lower the quantity of money demanded. Her empirical findings simply wipe the field of all opposition. D income rises, money demand rises, and a lower interest rate is required. In a mature free banking system, commodity money does not circulate, its place being taken entirely by inside money. Interest and inflation free money published by seva international. The money creation process should be taken away from the banks and given to the governments who. Net free reserves again became positive, and interest rates. B the interest rate increases, income becomes lower.
Schauf the federal reserve bank is a private company. Martin sought stability of the price level as opposed to the modern objective of low inflation. A the interest rate increases, income becomes higher. On june 4, 1963, a virtually unknown presidential decree, executive order 11110, was signed with the authority to basically strip the bank of its power to loan money to the united states federal government at interest. An explanation for the slope of the lm curve is that as. Macroeconomic indicators and their impact on stock market. Join us to discuss margrit kennedy s 58page book of the same title. Read interest and inflation free money to find out. Sylvain, emmanuelle, sustainable development and economic freedom an. Changes in the price level are, by definition, the rate of inflation. Create your citations, reference lists and bibliographies automatically using the apa, mla, chicago, or harvard referencing styles. Margrit kennedy 1995 interest and inflation free money. As soon as interest is abolished, inflation becomes unnecessary. Interest on debt rises exponentially, while economic activity is linear.
A third misconception concerning our monetary system may be formulated as follows. But now, because the nominal interest rate is the cost of holding money, the nominal interest rate feeds back into the demand for money. The result is that people will not even provide zerorisk, inflation corrected credits unless a certain interest rate is offered. Margrit kennedy is the author of the international bestseller interest and inflation free money, an outspoken critic of the current global economic system and a renowned advocate of alternative regional and complementary currencies. The article shows that the need for permanent payment of interest leads to the concentration of increasing supply of money in money circulation, which does not participate in economic transactions and, therefore, in the creation of added value. The current piigs portugal, ireland, italy, greece, spain dilemma shows that europes monetary union was built with a structural flaw. Kennedy, jewish power, house of rothschild, debt free money. The federal reserve, fearful of further encroachments on its powers, had kennedy killed.
The federal reserve is privately owned by thomas d. Creating an exchange medium that works for everybody and protects the earth, revised edition gabriola island, bc. Margrit kennedy was a german architect, professor, environmentalist, author and world authority on and advocate of complementary currencies and an interest and inflationfree economy. Inflation, in turn, affects the nominal interest rate through the fisher effect. The fundamental evil is the arithmetic of compound interest. Consistent with his views on free enterprise, martin. She ended up writing a little book called interest and inflation free money use the linkto prof. Creating an exchange medium that works for everybody and protects the earth, first published in 1987 and updated repeatedly afterward, last time in 2006 in german anyway. Her most famous book, interest and inflation free money.
Chapter two creating an interest and inflation free money towards the end of the 19th century silvio gesell, a successful merchant in germany and argentina, observed that sometimes his goods would. Permaculture publications, steyerberg, germany, 1990. That means that sooner or later those in a weaker position are unable to pay. Hitler issued debtfree currency for germany dig deep. One result of this work is the book interest and inflation free money, which has been translated into 20 languages. In the months before dallas, president kennedy signed e. It exposes the reason for the constant change in one of our most important measures. Agrawalla and tuteja 2007 that such macroeconomic indicators as gdp, inflation, interest rates, money supply, industrial production index are generally used although there is a lack of detailed reasoning for selection of aforementioned indicators. The problem goes much deeper than a few crooked operatives and it will not be fixed by changing the corporate culture. C income rises, money demand rises, and a higher interest rate is required. Freigeld simply reduces this primordial interest rate, which is estimated to be somewhere around 3% to 5%, by an absolute, in order to lower the average interest rate to a value around 0.
In germany the poorest 80% pay 1 billion euros in interest to the richest 10% per day. Thanks for proofreading to annalena steinhausen, 04. Creating an exchange medium that works for everybody and protects the earth has been translated into 23 languages and is considered. Margrit kennedy november 21, 1939, chemnitz december 28, 20, steyerberg was a german architect, professor, environmentalist, author and world authority on and advocate of complementary currencies and an interest and inflation free economy. King, is the invisible wrecking machine in all socalled free market economies. Former us president andrew jackson issued interest free currency, and two shots were fired at his head in an assassination attempt, but the shots misfired and he. Back to text 29 natural resources defense council and others, kingpins of carbon. But she found interest doesnt treat everyone equally. Margrit kennedys first book on money, translated into 22 languages. Ludwig schuster and margrit kennedy with a complementary currency, greece can devalue and remain in the euro area the european project is at risk. A demand may exist for either of two kinds of money. Back to text 27 personal communication, september 1999.
What are the other resources except money, which are. In august 1960, however, private hot money demand for gold firmed and began driving. Cetri galvenie aplamie pienemumi par naudu katru dienu uz planetas gandriz ikviens lieto naudu. An exchange medium that works for everybody by margrit kennedyr. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Sabine k mcneill has organised the forum for stable currencies in the house of lords since 1998. Margrit kennedy interest and inflation free money userpage.
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