Inspiring Your Authentic Week

Posted: 26 Jul 2010 01:31 AM PDT

"If you are not outraged you are not paying attention".

The most common reason people give for struggling to live authentically is money. Many of us find it hard to earn enough money while also being true to ourselves.

This is partly cultural and partly personal, but it also has a great deal to do with money itself. There is nothing inherently wrong with money, it is inherently neutral, but the way we create money is not.

The way we create money is inherently exploitative and destructive. If we want to stand any chance of creating a sustainable, peaceful and fulfilling society we HAVE to change the way that money is created.

It is rare for me to include guest contributors in my Monday mails, but this week I am including this message from Ben Dyson. I am outraged at the way that the banking system has turned most of us into debt slaves. I am outraged at the way that our children will be even more indebted than we are.

I want you to be outraged too and I want us to do something about it. Please read Ben's message below and support his project, it could make the biggest difference to our future.

"Here's how a simple reform to the banking system could save us £200 billion each year...

Every year up to £200 billion of new money is created and spent into the economy. Most of us would assume that this new money is created by the government, or at least an agent of the state. In reality, this new money is created by the private banking system as debt, and lent into the economy. Between 2000 and 2009, £1,225 billion of new debt has been created by the banks.

Read that again: in the last 10 years, the banks have created up to £200 billion per year, lent this into the economy as mortgages, personal loans and credit cards, and are now living off the interest. This is what laid the foundation for the debt crisis that is crippling government and society right now.

If you find this hard to believe, ask an economist. They'll call this process the 'money multiplier' or 'credit expansion' but they really mean the following: private companies (banks) create money, lend it into the economy, and collect interest on it. With the exception of the loose change in your pocket, this is where all our money comes from now - the creation of money as debt by private companies. Ever wondered why we are in so much debt?!

There is no good economic or practical reason why governments permit the banking sector to create new money while the government itself cannot fund adequate healthcare or education for its people. The banking system only works in this way because the law that makes it illegal to print your own £5 notes has not been updated to apply to the digital, electronic money that now makes up £97 in every £100. This loophole, in conjunction with a fundamental flaw in the design of the banking system, means that every single loan that is taken out actually creates brand new money. (In computing terms, making a loan is more like 'copy and paste' rather than 'drag and drop').

So when David Cameron says that 'there is no money', what he means is this: "we've handed the keys to the printing press to private corporations, and now we are dependent on the banking system to issue the nation's money supply". So to pay off the debt we need money, but we can only get money if we go into debt. Good luck solving that one Dave!

But there is a way to change this. There is a way to avoid the tax rises and spending cuts that currently seem inevitable. In fact, there's even a way to do the opposite - cut taxes and increase spending at the same time - and end the recession in one fell swoop...

...and here's how we make it happen:

Put simply:
Make a few small tweaks to the banking system to prevent commercial banks creating new money every time they make a loan.

In place of the banks, set up an independent agent of the state (such as the Royal Mint or the Bank of England) which would be responsible for creating the additional money that the economy needs each year to keep running smoothly.

Add the newly created money to total government revenue, where it can be used in the same way as tax revenue, or can be used in place of tax revenue to reduce the tax burden.

Doing this would open up a huge range of options. The money that was previously used to generate huge profits for the banks will now come first into the hands of the elected government. It can then be used to raise the income tax threshold, reduce regressive taxes that hurt the poor, increase investment in public services and infrastructure by up to 30%, fund interest-free lending for government bodies or local councils (saving 70% compared to PFI), or a combination of all of these.

So this is how a simple reform to the banking system can avoid cuts in public services and save us up to £200 billion a year. If you're thinking that it's easier said than done, there's a 20,000 word manual on exactly how it can be done, plus a fully drafted model bill at:

>> The Proposed Bank of England Act <<

And if your head is now spinning and you need a plain-English explanation of how this monumental con-trick works, and why it's destroying the economy, you'll find it here:

www.BenDyson.com

The current financial system doesn't work - that should be obvious to everyone. But so far no-one is looking at the root of the problem. That needs to change. Head to one of the sites above, sign up for the newsletter and we'll keep you updated as the campaign picks up speed..."

Changing the way money is created would free many of us from debt slavery helping us to feel more free to be authentic in our lives and work.

One to one personal coaching summer offer: As usual I have a summer three for the price of two coaching offer for sessions completed before the end of August. In these sessions we will articulate your personal Purpose, Vision, Mission, Values and Strategy and get started on making it happen. Email me to book your sessions.

Authentic Leadership, find out what leadership is really all about through one to one coaching or a workshop for your team. I have the opportunity to run an open Authentic Leadership workshop in Mallorca in October, if you are interested please help me decide whether to run it by letting me know. More on Authentic Leadership at http://www.authenticleadership.me

Authentic Transformation is the process we use to help businesses benefit from their authenticity through a mixture of coaching and workshops. If you would like your organisation to be more successful by being more authentic take a look at http://www.authentictransformation.com

Feel free to forward this to friends, post to your networks and to republish on your website. Please include the link.

You can subscribe for free at www.neilcrofts.com

Become a fan on Facebook

Follow on Twitter

With love

nx

Neil Crofts
Neil Crofts
authentic business

+34 646391384
neil@neilcrofts.com
www.neilcrofts.com
Skype - neilcrofts