The
Federal Reserve Policy is an Economic System that “lives” off debt because the
Federal Reserve Bank (FED) provides the government with a big loan of money,
and leads to perpetual debt to achieve “Economic Efficiency”. The elimination of this system has happened
before, which means that it is possible.
(Joseph, 2008) However, the biggest challenge remains;
if this system were to be wiped out, then money will have no value at all
(Joseph, 2008) , and will have catastrophic
repercussions. How do we achieve this
state of balance and a debt free world?
Here are my tips to getting at least one step closer to this goal.
To ultimately achieve a Utopian Society in the long run,
you will have to eliminate the following Economic
barriers: (Joseph, 2008)
- To pay off all the debt the government has, which will in turn render money worthless
- Eliminate fear and risk of spending money
- Rendering Money worthless will eliminate associated opportunity costs to purchases made by the government
- Sharing our abundance of resources and distributing them equally
- Resources will be free as there currently is and will remain to be, an abundance of. Therefore, there will be no need to pay or fight over essentials. (Joseph, 2008)
- Automation is the answer to our limitations.
- Also because money will become worthless, there will be no need for jobs, and everything can be automated (production, extraction of resources, refining resources to finished goods).
Are
you currently comfortable with the current Economic
System is in place, or do you agree with the idea in this post? Are
there any alternative that you can think of? Have you also watched the Zeitgeist
clip that covers this in more detail (about FED; and not the alternatives)?
Let’s have a group discussion on the subject matter.