The Evening Post has published my “Speakers Corner” article outlining my Manifesto promise.
Prompting lots of questions and interest.
Heres my answer about where does the money come from, how its created, hope it answered his question.
I love questions
ok first, I don’t pretend to know all the answers. I do know, from what I have read that the concept of an unconditional basic income (UBI) makes sense, and has alot of potential.
before going into specifics, lets look at the question?
where does the funding come from to do this?
i.e where do the resources come from to do this?
is there enough funding to do this?
ie is there enough resources to do this?
I say yes there are.
its not about money, money is just a method to redistribute those resources.
the unconditional basic income is also a method to redistribute those resources.
however i have to explain it in terms people understand and show how it can be done with todays monetarty system and thats what im trying to do.
the fact remains though that, if there are enough resources, food, clothing, shelter, heating etc to meet everyones basic needs, then the unconditional basic income (UBI), with all the benefits/advantages it has, is possible. if our current economic system cany cope/allow that to happen, then that doesnt in any way negate the concept of the UBI, instead its highlights a failed system thats useless to us all.
right now to the specifics…….
1. £5 creating £50 of turnover.
a. thats a way of showing how a tax on spending works. its exactly the same as VAT works. VAT is a tax on spending (albeit on a lesser range of goods)
b. there is currently only 3% of cash in our current system that actually exists as cash money. the rest is figures on a screen. 97% of our money doesnt exist, because its been created the same way. its also why if everyone went to take their cash out of the bank as cash, there would be run on the banks, and the whole thing would crash around our ears, like the proverbial deck of cards. lets be honest, thats already happening but our “leaders” are busy runing around like idiots screaming “its not happening, its not happening……” and picking up 1 card, but as they do 10 more fall to the floor.
c. answer this.
if i could take ALL the money in existance and give it all to you as a loan (lets say its £2000 trillion) and ask you to pay interest on it at 5%. when i ask for the money back. you can give me the £2000 Trillion. BUT WHERE DOES THE £100 TRILLION YOU OWE ME IN INTEREST COME FROM? HOW IS IT CREATED? in our current system, the only way to get the money to pay the interest back, is to get another loan….and so the spiral of debt continues
d. Fractional Reserve Lending is a way the banks “lend” money into the system, Again creating it from nothing. They only need to keep a “fraction” of any money you deposit in the bank as cash, they can lend the rest out. This effectively creates new money from nothing as well.
e. Quantative Easing is actually “printing money from absolutetly nothing” its not worth the paper its not printed on.
my point being that money is created in many many ways, ways we rarely think about, because most of us are taking it all blindly and for granted.it is already and often “magiced up from thin air”.
We live in unprecidented times. We need to come up with completely different solutions and in order to do that we have to break through our deluded beliefs about money and ask the simple questions about what money really is, how it really works.
like i said i dont have all the answers, but i do have alot of questions and I am at least offering concrete “specific” solutions/ideas as well. not the same vague aims, waffle, political spin and tired old solutions, that some of my opponents talk about, that quite clearly havent worked
i am very interested in talking and discussing all this with people like yourself though, who clearly do see something in it, but can also highlight the potential pitfalls, so thanks for the question