Surviving Capitalism (Not) : Why do banks make so much money?

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Friday, August 12, 2011

Why do banks make so much money?

From RoarMag.

This brief 2:52m video provides a concise way of understanding why banking, particularly central banking, is held by private interests, by people who are firmly lodged in the ruling capitalist class. Because their control over the issuance of money is so rewarding to them in terms of power and wealth, they will not give up this control easily. But, it is a necessary first step in wresting control of money away from them to understand this phenomenon.

A second step is to understand that the same people own and control our economy. This arrangement, too, must be removed from their "ownership" and control. Social enterprises (all corporations are social enterprises) must be owned and controlled by society for the benefit of all. The days of autocrats, elites, privileged segments of the population exploiting the rest of society are coming to an end. We must be prepared for this end and a new future by designing social structures to insure that societies serve the needs of everyone. (See the alternative systems listed on this blog at the top right for ideas.)