Declaration Of The Universal Right Of Monetary Creation
This proposal was deposited at the time of the forums of HABITAJAM by François Rey and Marc Boucher de Lignon on December 4, 2005.
Declaration Of The Universal Right Of Monetary Creation
Today entire parts of world population no longer have access to basic necessities because people do not have access to money. Why?
If like the large majority of people you say "I do not understand anything of the monetary problem" it's because the Machiavellian stratagem of the financial and economic establishment has succeeded in maintaining a veil over our eyes thanks to a complex and erroneous theory that prohibits any realistic interpretation of the monetary and economic problems.
In reality people produce the goods and services on the market, but without these goods and services money would have no reason to exist and therefore no value. Thus it is the people that makes the value of money. The value of money does not appear spontaneously in nature, but is the creation of man like goods and services. The right to create money thus belongs to the people since they are ultimately responsible for its value.
However this right of monetary creation has been withdrawn from the people and entrusted to the banks with which people must enter into debt in order to have the currency necessary for exchanging their own work and production. As a result humanity sits on a mountain of artificial debts with dire consequences: decreasing purchasing power, increased poverty, and absolute misery for a major part of humanity.
How long can we keep this veil and continue to produce all the wealth except the money necessary to the exchange of that wealth? Prominent economists such as Irving Fisher in the United States and Maurice Allais (Nobel Prize of economy) in France already invite us to wake up. It is not too late to act but there is urgency.
Let us give meaning to our society by recreating a true economic system based on transparency and sharing.
It appears essential to start defining the legal and universal basis upon which can rest a financial and economic system worthy of our conception of humanity and its fundamental rights. We thus propose to add to the Universal Declaration of Human Rights a section dealing with the fundamental rights for our monetary and economic system. What follows is a proposal to be used as a basis for the writing of a final charter.
The Universal Declaration of Human Rights adopted by the United Nations in 1948 specifies that:
- Article 2: Everyone is entitled to all the rights and freedoms set forth in this Declaration, without distinction of any kind, such as race, color, sex, language, religion, political or other opinion, national or social origin, property, birth or other status. Furthermore, no distinction shall be made on the basis of the political, jurisdictional or international status of the country or territory to which a person belongs, whether it be independent, trust, non-self-governing or under any other limitation of sovereignty.
- Article 3: Everyone has the right to life, liberty and security of person.
- Article 4: No one shall be held in slavery or servitude; slavery and the slave trade shall be prohibited in all their forms.
- Article 17:
1. Everyone has the right to own property alone as well as in association with others.
2. No one shall be arbitrarily deprived of his property.
- Article 23:
1. Everyone has the right to work, to free choice of employment, to just and favourable conditions of work and to protection against unemployment.
2. Everyone, without any discrimination, has the right to equal pay for equal work.
3. Everyone who works has the right to just and favourable remuneration ensuring for himself and his family an existence worthy of human dignity, and supplemented, if necessary, by other means of social protection.
- Article 25:
1. Everyone has the right to a standard of living adequate for the health and well-being of himself and of his family, including food, clothing, housing and medical care and necessary social services, and the right to security in the event of unemployment, sickness, disability, widowhood, old age or other lack of livelihood in circumstances beyond his control.
2. Motherhood and childhood are entitled to special care and assistance. All children, whether born in or out of wedlock, shall enjoy the same social protection.
Our current monetary system
Our current monetary system is:
- A private monopoly managed by private interests without representation of the People's interest. Citizens have no control or decision power over monetary creation and circulation, transparency does not exist or is illusory.
This state of affairs translates into money that are:
- Not free: money is issued through the creation of credit for which the collateral is merely an accounting entry. Despite a creation out of nothing, any credit is subject to an usury (interest) rate. This usury or interest rate is the major cause of inflation and such cost of money represents a major part of the cost of things.
- Promoting a spirit of competition: the money needed for interest payment is not created when credit is initially issued. Therefore economic actors enter into competition for getting the money necessary for interest payment. Such imperative is largely responsible for the mad profit-making race.
- Unsustainable: compound interest is an exponential curve, meaning the amount of interest can rapidly overtake the circulating monetary mass. Thus currency monetary systems have no other alternative than collapsing when the initial monetary mass needed for economic activity is overtaken by the monetary mass needed for interest payment.
We, the People, declare that
The current monetary system, for the reasons listed above, does not respect Human Rights, specially regarding articles 2, 3, 17 and 25. It generates inequalities, segregation, hidden forms of slavery and prevents access to the basic needs of the People (healthcare, food, education, housing, safety, work…).
Thus, We, the People, declare that:
1. The monetary system is a commons. Access to and usage of the monetary system is an inalienable right provided at no cost.
2. Any group of individual has the right to create and choose its own monetary tools. This is a principle of sovereigny, equality, and self-determination for any group of individual.
3. Money is a commons for the group of individuals that decided of its creation and use.
4. Management of the monetary system and of money is a democratic and transparent process.
5. The primary purpose of the monetary and economic system is the fulfilment of the fundamental needs and rights as described in the Human Rights Charter, in particular the rights to food, housing, health, education, and work.
6. Natural resources are a commons. Access to and usage of natural resources is a process of sharing and not of exclusive appropriation.
French version: Droit Universel De Création Monétaire