Banks have accounts at central banks. Central banks have accounts at the IMF. (I’ve oversimplified that last part, but it’ll do for now.) The reason you are always struggling for money is that you don’t get treated like a bank. You don’t have an account at the central bank that — like for a bank — is magically refreshed with free money every time the government sells a bond. Yes, really: that’s how the banking system works. And if you say to yourself, “Wow, Umair, that’s messed up. Banks really get endless free money — before the bailouts? That’s not fair!!” well, you are exactly correct.
The financial system we need to build looks, instead, like this. You get an account at the central bank. So does everything else. All the major rivers, the major species, the oceans. Why is it that Amazon Inc has a hundred bank accounts bulging with billions and trillions of dollars, but the Amazon doesn’t even have one? You begin to see the problem.
Now. Why should we take this weird and radical step of giving everyone and everything a bank account — and then topping it up monthly with an income? Because all those things do our work for us. The trees make our air. The rivers make our water. The oceans make our rain. The fish clean the rivers. The worms turn the soil. I could go on. They are all working for us, only we don’t pay them a dime.
Do you know what that’s called? Slavery. Future generations will regard us people who enslaved the natural world. And they will be right. It’s no surprise nature is going extinct when we don’t give it an income to use to fend for itself, when we treat it like a slave.
Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction