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Newsletter No. 18 - February 2009

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The G20 Must Discuss Monetary Reform at its 2nd April Meeting and
We Must Make Sure It's on Their Agenda

The way money is created today as profit-making debt, both nationally and internationally, cannot avoid leading to recurrent highly damaging booms and busts . In normal times too, it results in a skewed system of financial rewards and penalties that motivates almost everyone in the world to get money in socially, environmentally, and economically damaging ways.

This means that not only active citizens should support monetary reform . So should non-governmental organisations (NGOs) concerned with social issues (poverty, welfare, social injustice, health, human rights, etc), environmental issues (climate change, energy supply and use, water, food and agriculture, etc); the problems of ‘developing’ countries; and general economic and public policy issues (world future prospects; local and community economic development; ethical investing, trading and consuming; corporate social responsibility; etc).

The G20 (twenty of the economically most important countries in the world) is replacing the G7 as the top international forum for discussing the world’s economic problems. It is meeting at the beginning of April in London to discuss international co-operation in handling the present global financial crisis.

So far, their policies have ignored the importance of national and international monetary reform. It is vital that they should be persuaded to put these topics on their agenda and we must make sure that this happens.

What to do. People in all the G20 countries should act urgently: to mobilise pressure on their governments by early March to include national and international monetary reform in their April agenda, and to achieve widespread media coverage in their countries about why those reforms are necessary.

That can be done through many channels. They include writing and other ways of communicating:

  • to the politicians who represent us in our legislatures;
  • to the press and broadcasting media;
  • to NGOs that support our concern for development, social justice, environment, ethical economics, or any of the numerous causes that suffer from how the present money system works;
  • to other people able to do any of these things themselves, and
  • by speaking at meetings about those concerns.

In an enterprise of this kind, even the smallest action may turn out to have a big impact.

Please feel free to use any information from the campaign document, to help you put across the case for monetary reform. It explains why monetary reform is needed and suggests some possible solutions.

During the next eight weeks, this will have to be a highly de-centralised co-operative project. It is potentially very influential if self-energised and co-ordinated by its participants with one another in their own and other G20 countries - pursuing the shared aim of encouraging and pressuring the governments of the G20 countries to take monetary reform very seriously.

If, during this time, anyone has short news items to report on progress from which others could take encouragement and example, please email me.

Please let anyone who you think might be interested know about this campaign. As the G20 meeting starts on 2nd April, time is of the essence.

James Robertson

4th February, 2009