{"id":4707,"date":"2016-03-05T19:15:51","date_gmt":"2016-03-05T19:15:51","guid":{"rendered":"http:\/\/neweconomics.net.nz\/?p=4707"},"modified":"2016-03-05T19:15:54","modified_gmt":"2016-03-05T19:15:54","slug":"did-banks-apply-for-a-patent-to-use-money","status":"publish","type":"post","link":"https:\/\/neweconomics.net.nz\/index.php\/2016\/03\/did-banks-apply-for-a-patent-to-use-money\/","title":{"rendered":"Did banks apply for a patent to use money?"},"content":{"rendered":"<p><a href=\"https:\/\/neweconomics.net.nz\/index.php\/2016\/03\/did-banks-apply-for-a-patent-to-use-money\/new-nz-money\/\" rel=\"attachment wp-att-4709\"><img loading=\"lazy\" class=\"alignleft size-full wp-image-4709\" src=\"https:\/\/neweconomics.net.nz\/wp-content\/uploads\/2016\/03\/new-nz-money.jpg\" alt=\"new-nz-money\" width=\"610\" height=\"343\" srcset=\"https:\/\/neweconomics.net.nz\/wp-content\/uploads\/2016\/03\/new-nz-money.jpg 610w, https:\/\/neweconomics.net.nz\/wp-content\/uploads\/2016\/03\/new-nz-money-300x169.jpg 300w, https:\/\/neweconomics.net.nz\/wp-content\/uploads\/2016\/03\/new-nz-money-500x281.jpg 500w\" sizes=\"(max-width: 610px) 100vw, 610px\" \/><\/a>So is money part of the commons?<\/p>\n<p class=\"p1\">Money is a clever human invention designed to be a medium of exchange. Everyone agrees to accept money because they know that other people trust it too. Unfortunately many centuries ago, governments started to accept bank credit as money. And when they accepted bank money for taxes, <b>they either consciously or unconsciously gave banks a patent banks didn\u2019t apply for or pay for. <\/b> Nor did they check whether the invention was a working model. If they had done so they would never have granted the patent.<\/p>\n<p class=\"p1\">So we somehow allowed money to be lent into circulation with interest, causing a competitive system and a scarcity mentality where some amount of bankruptcy is inevitable. What\u2019s more the patent had no termination date.<\/p>\n<p class=\"p1\">Banks continue this privilege of creating the country\u2019s money supply (in the case of New Zealand it is at least 98.5% of our total money supply). So we gave banks the monopoly on money creation, didn\u2019t tell the people and didn\u2019t charge the banks a bean.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So is money part of the commons? Money is a clever human invention designed to be a medium of exchange. Everyone agrees to accept money because they know that other people trust it too. Unfortunately many centuries ago, governments started &hellip; <a href=\"https:\/\/neweconomics.net.nz\/index.php\/2016\/03\/did-banks-apply-for-a-patent-to-use-money\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13,1],"tags":[105,874,304,873],"_links":{"self":[{"href":"https:\/\/neweconomics.net.nz\/index.php\/wp-json\/wp\/v2\/posts\/4707"}],"collection":[{"href":"https:\/\/neweconomics.net.nz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/neweconomics.net.nz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/neweconomics.net.nz\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/neweconomics.net.nz\/index.php\/wp-json\/wp\/v2\/comments?post=4707"}],"version-history":[{"count":3,"href":"https:\/\/neweconomics.net.nz\/index.php\/wp-json\/wp\/v2\/posts\/4707\/revisions"}],"predecessor-version":[{"id":4711,"href":"https:\/\/neweconomics.net.nz\/index.php\/wp-json\/wp\/v2\/posts\/4707\/revisions\/4711"}],"wp:attachment":[{"href":"https:\/\/neweconomics.net.nz\/index.php\/wp-json\/wp\/v2\/media?parent=4707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/neweconomics.net.nz\/index.php\/wp-json\/wp\/v2\/categories?post=4707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/neweconomics.net.nz\/index.php\/wp-json\/wp\/v2\/tags?post=4707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}