Published on Mar 15, 2013 by NextNewsNetwork | Interview by Gary Franchi - 13.25 minutes Every week, the Federal Reserve creates billions of dollars out of thin air and lends them out, at interest, to banks -- including foreign banks with offices located in the U.S. Literally hundreds of billions of dollars have been pumped out by the Fed in the name of economic stimulus.
The result is that favored institutions and elites get the first use of that newly created money -- while the rest of us see the value of our paychecks, our savings accounts, and our pension funds diminished through inflation.
If inflationary stimulus can create prosperity, why isn't Zimbabwe the richest country on earth? If the fiat dollar is obviously sound, why do legal tender laws compel us to use it for transactions? Are there any realistic alternatives to the depreciating dollar?
We'll examine these questions with Wayne Walton, a monetary reform advocate and creator of a local, interest-free currency called Mountain Hours.
At 12:34, Walton mentions his book on the subject; available on Kindle at Amazon.com for $4.99:
"Hour Money Jubilee: How to create immediate abundance for humanity" by Wayne Walton and Tommy Kennedy (Feb 13, 2013).
Click here for an online Preview sample. Click here for reviews of the book.
Poster Comment:
Usury-Free Currency Competes with Federal Reserve Notes
Published on Dec 24, 2013 by NextNewsNetwork | Interview by Gary Franchi - 12.25 minutes
Wayne Walton is a leading proponent of local currencies. He is well-known as an expert on organic money. He has also spoken extensively on the subject.
Local currencies have become more popular as towns and cities try to keep local business thriving. Instead of relying on dollars printed by the Federal Reserve, locales around the country are trying to keep their economies local.
Such private monetary systems are sometimes called organic currencies. Supporters of private money say their currencies are created without debt. Critics say such plans can be dangerously unstable.
One of the towns adopting a local form of monetary exchange is the college town of Ithaca, New York. The home of Cornell University is also the location of Ithaca Hours. This currency has been highly successful. It is now accepted by over 900 local vendors. This program is now the model of the new Mountain Hours being introduced in Summit County, Colorado.
Walton is our guest on the show today.