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dc.contributor.authorKonstantinos E. Kyritsis, T. Pappasen
dc.rightsCC0 1.0 Universal*
dc.subjectBanking monetary systemen
dc.subjectFree basic incomeen
dc.subjectSystemic povertyen
dc.subjectDebt crisesen
dc.subjectAlternative digital currenciesen
dc.titleThe democratization of the banking monetary system so as to grant the free basic income without debt crises. Alternative solutions through decentralized digital currencies.en
heal.type.enJournal articleen
heal.type.elΆρθρο περιοδικούel
heal.contributorNameKyritsis, Konstantinosen
heal.contributorNameTheodoros, Pappasen
heal.recordProviderUniversity of Ioannina, School of Economic and Administrative Sciences, Dept of Accouning-Financeen
heal.bibliographicCitationArchives of Economic History , Vol XXXIII, No 2 July-December 2021 pp 1-45
heal.abstractThe main fault of economic system is the systemic poverty. In the systemic poverty there is no lack of goods and services but lack of the right to access them (money). The systemic poverty is increasing. In UK the recent (2021) direct poverty is 17% and the indirect 50% In Greece the direct is 30% and the indirect far above 50%. The systemic poverty creates increased suicides, poor health, inability to make a family, reduced span of life, etc. The systemic poverty can be considered a systemic crime too. The United Nations in the recent years has declared a planetary scale campaign to eradicate poverty from the planet. The systemic poverty can be cure though the free basic income. The free basic income is unfortunately not possible to be derived solely from taxes as it is a too large expense for Governments, so it has to be derived directly from currency issuing by the central bank. But in the Maastricht agreement there is an article-term that prohibits the Governments not only to demand but even to advise the central bank about issuing and circulating currency. In this article we analyze the ability of the monetary-banking system, to support the free basic income that eliminates poverty without creating periodically debt-crises. We discover 5 toxic and anti-democratic functions of the banking monetary system that create periodically debt crises. They are analyzed in the text under the terms 1) Forced preemptive control of money issuing, (monetary despotism) 2) The forced proprietary monopoly of the issuing of the public currency, in the case of private national central banks 3) Macroeconomic statistical enforcement of debt. 4) Empty-lending (accounting money M1,M2,M3) , 5) For the commercial banks ,money-issuing middleman main role. By democratizing top-down the monetary system though joined political will in the Eurozone after changing the Maastricht agreement not only periodically debt-crises are not created but also the free basic income can be granted. Alternatively, the poverty may be eliminated with the free basic income through bottom-up alternative decentralized non-banking digital local or global currencies. The bitcoin hardly qualifies anymore as an alternative currency that grants the free basic income. Thus new designs of digital currencies are required. We state the necessary principles for such currencies (governmental or not) and we give 2 examples of them, inspired from existing local alternative digital currencies in Italy and Germany, which are fully taxed within the old banking currencies.en
heal.publisherArchives of Economic History , Vol XXXIII, No 2 July-December 2021
heal.journalNameArchives of Economic History , Vol XXXIII, No 2 July-December 2021en
Appears in Collections:1. Άρθρα σε επιστημονικά περιοδικά (Γενικό)

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