“It is well that the people of the nation do not understand our banking and monetary system, for if they did, i believe there would be a revolution before tomorrow morning” Henry Ford.

So, let’s understand. The scariest thing about the monetary system is how straight forward and easy it is to understand it, yet how well this has been masqueraded by the people and institutions running the system.

Let’s understand what Henry Ford meant.

Money comes from the central banks who simply create it out of thin air when it is needed. There are two notable things about this:
1. All money is debt, lent at interest rates (except the money created by central banks)
2. Most central banks are private institutions. (The federal reserve, the bank of england, the french central bank, the italian and approximately 50% of the european central bank, to name only the most important)

One of the main bugs in the system is that the money generated by the interest rates is never actually created as money in the system. This means that the volume of “real” issued money is always less than the total which includes the interest on the debt.

This creates mounting pressure on economies and individuals since they need to try and extract as much money as they can get their hands on from the system their part of in order to pay back their debts plus interest, which is something that will never happen.

Since this system requires a constant increase in money supply, the “value” of the money was attached to the GDP after the US ran out of gold to back the dollar. By attaching the increase of the money supply to the increase of the GDP, we started rewarding externalising costs which is a nice way of saying: fucking up the commons by exploiting people and the planet.

Now, what can be done? Well, the bitcoin has started carving the way into the minds of the people that there are alternatives. A future in which currencies become more of a commodity and less god-like is becoming imaginable. Currently approximately 20.000 systems are being explored and tested all over the globe.

In our project [entangle]( we try to make it easy for people to create a [mutual credit system]( using only their cellphones to enable small communities all over the globe to shake off the chains the banks put on them and become free again. 
Currently we’re in Alpha on Android and looking for talented developers to build the iOS version.

Some good reads on the topic:

[The Future of Money — Bernard Lietaer](

[Sacred Economics — Charles Eisenstein](

Thomas Schindler