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Re: What I do mean by a democratic banking systemWhat I do mean by a democratic banking system

Hi all,

I am still trying to clarify the idea of democratic banking. The current
proposal/theory is very rudimentary. So I would like to hear your
questions and criticisms. If you find the concept appealing, I am also
looking for help to refine it. I think it is very different from L.E.T.S

What I DO NOT  mean by a democratic banking system

*The existing banking system is not democratic.

*The banking system before the creation of the federal reserve was not
democratic either.

*It does not mean "taking control" of the existing private banking =

What I do mean by a democratic banking system

*It does mean devising a *parallel* banking system along liberal
democratic principles and procedures for decision making. The central
task of such a banking system is to CREATE and DISTRIBUTE "UNEARNED"
MONEY based on a democratically concieved credit-debt systems, which
would be very different from the system of credit-debt in the private
banking community.

*The credit-debt system could be adapted to suit the special physical =
cultural realities of individual communities.

*It would not be like giving each person a "blank cheque". Budgets

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Article-ID: 05_1997&639926
Score: 80
Subject: Re: Maternal care