Currency as Debt: A New Theory of Money

Three New Monetary Concepts 

Many current social problems are rooted in flawed monetary concepts. Correcting those flawed concepts will lead to a more moral and almost costless solution of correcting those problems.

All currencies regardless of form or substance, represent debt not wealth. Currency represents an unfinished exchange of wealth.

Because all currency represents debt, new currency can be created using a concept called virtual wealth. Virtual wealth is defined as:

Potential wealth to be created through future production and assumed to currently exist for accounting purposes; wealth that could be created provided all requirements for its production existed.
 

The physical individual units of currency belong to somebody, but monetary systems belong to nobody in particular; thereby making monetary systems—like languages— a true public utility. Flaws in the current model means few of the benefits of ownership of monetary systems accrue to the true owners—the working public, a situation remedied by new equations eliminating inherent instability and inequity; thereby allowing workers to keep more of the wealth they produce.

A legislative proposal written to correct those flaws, The National Economic Stabilization and Recovery Act (NESARA), is built upon these three monetary concepts.

NESARA improves social justice by selecting moral rules over political and “ethical” rules of conduct, thereby promoting an honest distribution of the benefits of living in modern societies. Under NESARA, the majority of working families retain a larger share of the wealth they produce. The driving principles behind NESARA is that all people—regardless of race, sex, creed, beliefs—have an inalienable, irrevocable, inseparable right to their property. NESARA was written with one straightforward goal in mind: establishing the American Dream as a way of life—internationally.

Source: http://nesara.org/articles