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by on December 29, 2013

Dear Signatory of the Banks need Boundaries! petition

The stage is set in the EU to have the public foot the bill for losses by private banks. Forget what you think you know about money as a common good for buying products. For centuries, royalty and governments have used taxes and duties to make us pay their debts. Debts to international high finance and corporations. This robs the public and enriches elites. Today, an illegitimate monopoly of power controls money as a “common good” in a totalitarian fashion.

Private monopolies of power always disregard public interests

This privately-controlled monopoly of monetary power is a little like privatising education or healthcare. They lead to less healthcare for the public, and to inequitable means for education.

In the field of finance, the public is robbed and impoverished by this private power to dispose over our money, exercised by high finance and the policies that cater to it. “Juiced up” on artificially created money, the economy is whipped into crazy and chaotic growth, which inevitably leads to monetary and financial crises and wars. A small elite walks off with all the profit, while humanity at large suffers global crises. There’s even a link to climate change.

By signing the Banks need Boundaries! petition, you demonstrated solidarity and support for our further work. The petition’s first line: “Society must set the rules for the financial system and not vice versa.” That would be a fundamental turnaround, yea a revolution – because it tackles the source!

“Reforms” such as financial transaction tax are no way to abolish private speculation with our money. On the contrary: such “wannabe reforms” only throw dust into our eyes, and legitimise the misuse of money, which is a common good. They even lend a certain approval to illegitimate activities at the expense of others. (Reminder: we don’t mind if someone gambles with their own money, and loses – provided others are not hurt in the process, see our friendly list of things to NOT worry about, posted on our newly resplendent website here: How we got this far.)

What we advocate is public sovereignty over money, which is a public good. It is perfectly possible for us to live in a free system with a market economy, good education, healthcare, and justice. Even for our brothers and sisters in less privileged areas. It’s all just a question of the right basic framework!

Please – if you have not already done so – visit our new website It explains in short, simple terms why it’s so important we change our monetary system, with an overview of the most obvious solutions presented today.

Let’s rebuild finance for the common good!

Not in a patronising way – just us, the people, getting together in our own countries, and cooperating internationally in solidarity where it makes sense.

Let us seek out new ways and support initiatives in every country to give power over our money firmly (back) to the majority.

For example:
– initiatives for ‘Sovereign Money
– banks organised as cooperatives
– alternative currencies
true separation of speculation and the real economy

Money is a common good for all people.
Let’s break the elite’s power to dispose over our money.
Money to the people!

On that note, we wish you restful and harmonious holidays, and a hopeful New Year.

[Signed by the initiators, and sent (hopefully) to all who ticked “keep me updated” on the petition. Apparently I failed to do that, because I didn’t get the memo.]

p.s. On a personal note, I’m still secretly hoping that other people will cotton on to this campaign, possibly even joining it in some way: blogging, spreading awareness around the globe, whatever YOU feel you can and want to do! Contact us via the main site, or to me directly by posting a comment below. Happy New Year from me too, MK


“Banks need Boundaries!” grew out of “Banken in die Schranken!”, a group of European money-reform activists. We launched several petitions in different languages and enjoy collecting ideas and providing resources. Particularly useful if you want to set up alternative currencies, petition your government, or are enthusiastic about Plain Money, a.k.a. Sovereign Money.

“Banks need Boundaries!” is member of the International Movement for Monetary Reform

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