3. The new money that must be regularly added to an improving system as population and commerce grow will be created and spent into circulation by the U. S. Government for infrastructure, including the human infrastructure of education and health care. This begins with the $2.2 trillion the American Society of Civil Engineers warns us is needed to bring existing infrastructure to safe levels over the next 5 years. Per capita guidelines will assure a fair distribution of such expenditures across the United States, creating good jobs, re-invigorating the local economies and re-funding government at all levels. As this money is paid out to various contractors, they in turn pay their suppliers and laborers who in turn pay for their living expenses and ultimately this money gets deposited into banks, which are then in a position to make loans of this money, according to the new regulations. [My emphasis.]
What excites me most about this reform and Zarlenga's work and efforts, is that they are accumulating significant momentum around the powerful recognition that money is not wealth. Let me repeat that: Money is not wealth. Money is a ticket denoting best-guess value, and which also enables complex trade and economic activity. It is not a commodity, nor can it possibly store value. It should not in and of itself create more money (interest or usury), it should not concentrate power and real wealth to the criminal few, while the multitudes suffer, desperately waiting to be needed for their labour by the powerful.
In the end, and for environmental and technological reasons, I strongly suspect, as do Jacque Fresco and Peter Joseph, that we will outgrow our need for money. In the meantime we need a money that can get us on the path towards a resource-based economy. Stephen Zarlenga and The American Monetary institute have designed a money capable of such a direction change, and have my full support. I wish them well.