Welcome to the website of Prosperity, a quarterly Money Reform journal published by Alistair McConnachie in Glasgow, Scotland, dedicated to spreading understanding about the nature of our debt-based money system, and campaigning for publicly-created debt-free money – since January 2000.
What is Money Reform?
Money Reform (sometimes called, Monetary Reform) highlights the fact that our economy today is “debt-based”, meaning that virtually all money is supplied into the economy as a debt owed to the corporate banking system (the “High Street banks”). We are reliant upon this banking system for the supply of almost all our means of exchange. In Britain today, 97% of our money stock is created by this private banking system as a debt (the electronic loans you take out), while only 3% is created by the government debt-free (the cash and coins in your hand). As we explain on this website, that is both a technical absurdity and a democratic offence.
As a consequence of virtually all our money coming into existence as a debt, we see the indebtedness of people, families and countries growing daily. Money Reformers believe the present debt-based system perpetrates debt slavery. We believe this debt-based system is destructive of society, and that this debt propelled system is destructive of the environment and the planet. Money Reformers believe this debt-based money supply is the big issue which governs all the issues.
Money Reformers advocate that the virtual Monopoly of Money Creation must be removed from the corporate banking system and we work to establish a publicly-created supply of debt-free money created on behalf of the people, by a public body.
This money should be spent, not lent, into society on the basis of proven need. This will gradually reduce the overall burden of debt in society, break reliance upon the private banking system for the supply of money, open potential for change, and empower people democratically.
And working with others, we’ve gathered these ideas into a clear, concise and concrete solution, which we’ve put in draft legislative form, called The Bank of England (Creation of Currency) Bill. You can purchase hard copies here.
The Money Reformers’ proposal is not a left-wing, or right-wing idea. It’s just good sense!
This website carries some of the articles which have appeared in back-issues of Prosperity. These articles investigate and explain the debt-based money system, and publicise the debt-free alternative.
The articles are sorted into the 5 categories above. Only a minority of the articles which have appeared in our publication are on this site, and articles are only posted around 18 months (and sometimes years…we are now in our 14th year) after they have been published in our hard-copy publication. Therefore, we recommend you subscribe to Prosperity here (or send a cheque) and ensure you receive your hard-copy publication regularly. And you can purchase the entire Back Issue set of Alistair McConnachie’s Prosperity money reform journal by clicking here.