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    A Citizen Owned Money Supply
    A Citizen Owned Money Supply
    A Citizen Owned Money Supply
    Ebook40 pages24 minutes

    A Citizen Owned Money Supply

    By Bob Blain

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    About this ebook

    This booklet explains why the money supply of nations must be based on citizenship rather than debt. It shows with "the pen of history" that debt in the United States grew to the astronomical size it is today as a direct result of the decision made in 1781 to have money originate as interest-bearing debt. It proposes that money be understood as citizen shares, not to be bought and sold to make money, but as money itself and that those shares be given to citizens when they register to vote and for infrastructure projects which could then be done debt-free and interest-free..

    LanguageEnglish
    PublisherBob Blain
    Release dateOct 14, 2015
    ISBN9781311631954
    A Citizen Owned Money Supply
    Author

    Bob Blain

    Bob has a Masters degree from Harvard and a Ph.D. from the University of Massachusetts, both in sociology. He taught sociology for two years at The Ohio State University then taught sociology at Southern Illinois University Edwardsville from 1968 to his re-tirement (new tires) in 2001. He has spoken on monetary reform in New Zealand, Australia, Poland, Libya, India, and Togo in Africa as well as at many conferences in the United States and Canada.

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      Book preview

      A Citizen Owned Money Supply - Bob Blain

      A CITIZEN OWNED MONEY SUPPLY

      Bob Blain, Ph.D. Sociologist

      Smashwords Edition

      January 2016

      Table of Contents

      In a Nutshell

      Overview

      The Pen of History

      How MONOPOLY Originates Money

      The Bank of North America

      The Debt Based Money Problem

      The 1787 Federal Convention

      Inflation and Deflation

      The A-B-C of Money

      Currency Exchange Rates in Work Time

      Calibrating US Dollars in Hours and Years

      Other Effects of Citizen Owned Money

      Conclusion

      References

      About Bob Blain

      In a Nutshell

      Bank issued:

      Debt = Money.

      Government issued:

      Money with no debt.

      Back to TOC

      Overview

      Commercial banks originate money as debt. Without debt, there would be no money. Interest added to that debt causes debt to grow by compounding interest. This method of money creation began in the United States in 1781 with the founding of the Bank of North America. It has caused debt to grow from $2.5 million in 1781 to $78 million millions by 2014.

      The alternative is a citizen owned money supply, issued by government, debt free and interest free. One way to do it would be for Congress to create a Citizens Capital Account of $150 billion to issue $1,000 to every registered voter. This would empower citizens to exercise $1,000’s worth of their responsibility for both government and the economy with money they own as a right of citizenship rather than rent as if a tenant.

      Back to TOC

      The Pen of History

      The pen of history is the red line in Figure 1. It is $2.536 million, a bit more than $2.5 million, increased at 7.9 percent annually from 1781 to 2014. The black line is actual United States public and private debt from 1916 to 2014 (Sources: Total Public and Private Debt, 1916 to 1976, United States Bureau of Economic Analysis, Survey of Current Business. 1953 to 1977; Outstanding Credit Market Debt, 1977 to 2014, Federal Reserve, Flow of Funds increased 32% to match its correlation, r=.9996, with total debt 1945-1976).

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