A valuable update on Monetary Reform when rampant egotism reigns. Peter
On Thu, 1 Jan 2026 at 18:41, Steven – American Monetary Institute <members@monetary.org> wrote:
Dear Peter Challen,
AMI – www.monetary.org – is now in its 30th year. Our biggest success has been leading the way in winning the argument. As people come to understand our US-led, Western, debt-based monetary system, they see its unjust, immoral nature and recognize that it must change. Now the urgent work is turning that understanding into action while there’s still time to protect democracy, dignity, and a liveable future.
We need to:
• Identify and engage with all individuals and organizations that will work with us.
• Educate as many people in the world as we can.
• Create an educational curriculum for our children and politicians.
• Replace current-day economic modeling with more inclusive and accurate systems-dynamic modeling.
• We need to care for and help each other as best we can.
If you can spare a dime, we will make good use of it. If you spare some time, there are basic things to learn, and more to do! Please support us in whatever way you can:
Help us reach our $15 000 fundraising target: • Spare a dime
Register for the AMI monthly working meetings: • Spare some time
Together, we can prepare AMI to educate, unite, and act — before the next monetary breakdown.
Imagine the future
Let’s imagine we have moved beyond our present debt-based monetary system to a sovereign monetary system that uses only publicly issued money. There is no private issuing of bankmoney (money created by commercial banks), only legal tender money issued by the state is in circulation. This is called a one-tier banking system.
Will this system create a domino effect to right the ship of state—so that we can have good housing (as New Zealand began implementing in the 1930s—see here, begins at 16 minutes), a full-employment economy with livable wages, access to healthcare, public power systems, food security, public education through the university level, and a robust social security system for retirees and people with disabilities—while living in harmony with planet Earth and all its life?
No, I see two major obstacles:
First, the present-day elite wealthy run society. They control lawyers, lobbyists, politicians, media outlets, and more to prevent any utopia—except their two-tier class society: their elite oligarchy class, and everyone else. Even our economic textbooks have taught a philosophy that supports “fiduciary responsibility,” and to maximize profit and act self-interestedly.
Second, monetary reform alone is not enough. About ten years ago, I traveled to Hungary and visited beautiful Lake Balaton. I was with a Hungarian friend who was an economic journalist during the Soviet period. Before the Soviet Union’s collapse in 1989, it had a one-tier sovereign public money system—the very thing we are struggling to achieve today (see here for the AMI presentation—begins at 23 minutes). As we visited around Central Europe’s largest lake, I noticed low-level modern-looking abandoned buildings. There were two sets of buildings separated by a fence. One compound was for the Politburo class, and the other for the Labor class. See the pictures. It suggested to me that even with sound monetary reform, we could still lose the struggle for justice, equality, and freedom.
Building for the Labour Class
Building for the politburo class
What more can we do then to move forward and make sure a monetary reform creates a positive domino effect? Are there alliances we can form today to help secure a free, democratic society with a strong commitment to equality for all and a public sovereign monetary system?
AMI is now in its 30th year. Our biggest success has been leading the way in winning the argument. As people come to understand our U.S.-led, Western, debt-based monetary system, they see its unjust, immoral nature and recognize that it must change. What remains is the straightforward solution that presents itself:
• We need to identify and engage with all individuals and organizations that will work with us.
• We need to educate as many people in the world as we can.
• We need to care for and help each other as best we can.
• We learn and care for the Earth much like that described in Doughnut Economics by Kate Raworth.
• We replace current-day economic modeling with more inclusive and accurate systems-dynamic modeling.
• We learn as we go: collecting values, stories, and putting them into an educational curriculum for our children and politicians.
And if you can spare a dime, we will make good use of it. If you can spare some time, there are basic things to learn—and more to do. Please support us in whatever way you can.
Your monetary, economic, and environmental colleagues at AMI are working to break down the barriers that separate us.
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