“We must do away with the absolutely specious notion that everybody has to earn a living. It is a fact today that one in ten thousand of us can make a technological breakthrough capable of supporting all the rest. The youth of today are absolutely right in recognizing this nonsense of earning a living. We keep inventing jobs because of this false idea that everybody has to be employed at some kind of drudgery because, according to Malthusian-Darwinian theory, he must justify his right to exist. So we have inspectors of inspectors and people making instruments for inspectors to inspect inspectors. The true business of people should be to go back to ...

  “Meet the Campaign to Fix the Debt, the billionaire-funded project that uses Alan Simpson and Erskine Bowles as figureheads for a fear mongering campaign to convince Americans that the deficits the United States has run throughout its history have suddenly metastasized into “a cancer that will destroy this country from within.” It is the latest incarnation of Wall Street mogul Pete Peterson’s long campaign to get Congress and the White House to cut Social Security, Medicare and Medicaid while providing tax breaks for corporations and the wealthy.”                                          ...

“Commercial banks create money, in the form of bank deposits, by making new loans. When a bank makes a loan, for example to someone taking out a mortgage to buy a house, it does not typically do so by giving them thousands of pounds worth of banknotes. Instead, it credits their bank account with a bank deposit of the size of the mortgage. At that moment, new money is created. For this reason, some economists have referred to bank deposits as ‘fountain pen money’, created at the stroke of bankers’ pens when they approve loans.” - - Bank of England Quarterly Bulletin 2014 Q1 “Thus it can now be said with confidence for the first time ...

  It started with goldsmiths. As early bankers, they initially provided safekeeping services, making a profit from vault storage fees for gold and coins deposited with them. People would redeem their "deposit receipts" whenever they needed gold or coins to purchase something, and physically take the gold or coins to the seller who, in turn, would deposit them for safekeeping, often with the same banker. Everyone soon found that it was a lot easier simply to use the deposit receipts directly as a means of payment. These receipts, which became known as notes, were acceptable as money since whoever held them could go to the banker and exchange ...

Saving banks at any cost, making the public pay the price, foregoing a firm commitment to reviewing and reforming the entire system, only reaffirms the absolute power of a financial system, a power which has no future and will only give rise to new crises after a slow, costly and only apparent recovery. The financial crisis of 2007-08 provided an opportunity to develop a new economy, more attentive to ethical principles, and new ways of regulating speculative financial practices and virtual wealth. But the response to the crisis did not include rethinking the outdated criteria which continue to rule the world. - - Pope Francis - June 2015 Encyclical ...

“The vast amount of money paid to Wall Street by America’s cities, counties, and states has profound impacts on our lives and local economies.” “It’s a staggering amount: Hundreds of billions of dollars move from taxpayer pockets into private Wall Street hands each year in the form of interest payments on bonds, loans, fees, and financial product costs” “The debt load is squashing local economies, ruining our school systems, letting our infrastructure crumble, and so much more.” “Breaking our dependence on Wall Street usury means reclaiming control of our money through publicly-owned, public-interest banks.” - - The Public ...

“The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity.” - - Abraham Lincoln "We have what is known as the Federal Reserve Bank System. That system is not owned by the Government. Many people think that it is because it says “Federal Reserve.” It belongs to private banks, private corporations. So we have farmed out to the Federal Reserve Banking System - that which is owned ...