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The Cargo Cult of Money Reform

The topic of money reform lies outside our self-defined terms of reference. Our view is that the monetary and banking system are the way they are largely due to the fact that the rent of land is privately appropriated.

“As long as the land monopoly is maintained, the few can take possession of what Nature free of charge has granted to everyone, and usury will penetrate the whole society, and we will have banks, which instead of being servants for the exchange of goods will become powerful extorters.”

– Pierre Joseph Proudhon

Without the reform that we advocate, or something very much like it, there can be no monetary reform. Were LVT to be applied, reform of the finance system would follow naturally. This article by Peter Smith, which describes the money reform movement as a “Cargo Cult”, puts the case concisely.