Sovereign Money for All!
to the European Parliament, European Central Bank, to all Europeans
This petition is run by [% inititator_name %]
Petition
Money creation may only be carried out by the central bank.
This concerns both cash and book money as well as new digital forms of the euro.
Only these forms of money are legal tender.
Only these forms are subject to acceptance. Money creation by the commercial banks is to be ended.
The EU Commission is called upon to amend Art.128.1 of the TFEU Treaty correspondingly.
Why is this important?
- 90% of money is created out of thin air by commercial banks
- 90% of it is used for speculation
- 90% of the population does not know these two facts...
Banks create new money when they grant loans. Before the credit, this money did not exist. This is confirmed by the central bank of: Great Britain, Germany and many other European central banks!
Do you think it is right that the commercial banks do this? Because there is no law authorising them to do so!
There are a number of negative side effects for the environment and society of this unauthorised activity. The banks grant significantly more loans than they have deposits. These loans, in turn, go mostly for non-productive and also very profitable purposes, such as oil pipelines, chemical plants for pesticides, technologies for genetically modified crops or simply for speculation with food. As soon as one of the deals goes wrong, it becomes public sooner or later. Customers start to withdraw their (real) money. Liquidity deteriorates. The crash accelerates as more and more people find out about it. The bank run is inevitable... The domino effect ensures that the wildfire spreads to other banks at lightning speed. The result is a financial crisis.
The credit-driven creation of money out of thin air only knows two states:
- either a mania or
- a depression
This is the kind of society we have to live in now. It's been up and down for decades...
From our point of view, this is the ultimate driver for many problems. The question is, what will collapse first, society, the earth or the financial system?
Stop the commercial banks printing money and sign the EU-wide petition:
https://www.sovereign-money-for-all.eu/