⚡ Arguments Against Virtual School

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Arguments Against Virtual School

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Among the arguments for keeping the current system of money creation based on the credit theory of money or fractional reserve banking are as follows:. To regulate credit creation, some countries have created a currency board , or granted independence to their central bank. The Reserve Bank of New Zealand , the Reserve Bank of Australia , the Federal Reserve , and the Bank of England are examples where the central bank is explicitly given the power to set interest rates and conduct monetary policy independent of any direct political interference or direction from the central government.

This may enable the setting of interest rates to be less susceptible to political interference and thereby assist in combating inflation or debasement of the currency by allowing the central bank to more effectively restrict the growth of M3. However, given that these policies do not address the more fundamental issues inherent in fractional reserve banking, many suggest that only more radical monetary reform such as government directly taking over central banks such as the China or Swiss models can promote positive economic or social change. Although central banks may appear to control inflation, through periodic bank rescues and other means, they may inadvertently be forced to increase the money supply and thereby debase the currency to save the banking system from bankruptcy or collapse during periodic bank runs, thereby inducing moral hazard in the financial system, making the system susceptible to economic bubbles.

Theorists such as Robert Mundell and more radical thinkers such as James Robertson see a role for global monetary reform as part of a system of global institutions alongside the United Nations to provide global ecological management and move towards world peace , with Robert Mundell in particular advocating the revived use of gold as a stabilising factor in the international financial system. While some mainstream economists [ who? Still other radical reform proposals emphasise monetary, tax and capital budget reform which empowers government to direct the economy toward sustainable solutions which are not possible if government spending can only be financed with more government debt from the private banking system. In particular, a number of monetary reformers, such as Michael Rowbotham, Stephen Zarlenga and Ellen Brown , support the restriction or banning of fractional-reserve banking characterizing it as an illegitimate banking practice akin to embezzlement and advocate the replacement of fractional-reserve banking with government-issued debt-free fiat currency issued directly from the Treasury rather than from the quasi-government Federal Reserve.

Alternatively, some monetary reformers such as those in the social credit movement, support the issuance of repayable interest-free credit from a government-owned central bank to fund infrastructure and sustainable social projects. This social credit movement flourished briefly in the early 20th century, but then became marginalized. It died out in the s. Both these groups those who advocate the replacement of fractional-reserve banking with debt-free government-issued fiat, and those who support the issuance of repayable interest-free credit from a government-owned central bank see the provision of interest-free money as a way of freeing the working populace from the bonds of " debt slavery " and facilitating a transformation of the economy away from environmentally damaging consumerism and towards sustainable economic policies and environment-friendly business practices.

Some governments have experimented in the past with debt-free government-created money independent of a bank. He believed it was the efforts of English bankers to revoke this government-issued money that caused the Revolution. Abraham Lincoln used interest-free money created by the government to help the Union win the American Civil War. He is sometimes quoted probably apocryphally calling these ' Greenbacks ' "the greatest blessing the people of this republic ever had. Some [ who? These include the ideas of soft currency , barter and the local service economy.

Local currency systems can operate within small communities, outside of government systems, and use specially printed notes or tokens called scrips for exchange. Barter takes this further by swapping goods and services directly; a compromise being the Local Exchange Trading Systems LETS scheme: a formalised system of community-based economics that records members' mutual credit in a central location.

Some proponents of monetary reform [ who? This may involve using commodity money such as money backed by the gold , silver or both , commodities which supporters argue possess unique properties: their extraordinary malleability , their strong resistance to forgery , their character as stable and impervious to decay, and their inherently limited supply.

Digital means are also now possible to allow trading in hard currencies such as gold, and some believe a new free market will emerge in money production and distribution, as the internet allows renewed decentralisation and competition in this area, eroding the central government 's and bankers' old monopoly control of the means of exchange. Some monetary reformers [ who? In the absence of these factors, they believe a gold standard or silver standard would arise spontaneously out of the free market. From Wikipedia, the free encyclopedia. This article has multiple issues. Please help to improve it or discuss these issues on the talk page. Learn how and when to remove these template messages. Some of this article's listed sources may not be reliable.

Please help this article by looking for better, more reliable sources. Unreliable citations may be challenged or deleted. April Learn how and when to remove this template message. This article relies excessively on partisan sources. Please improve this article or discuss the issue on the talk page. This article relies too much on references to primary sources.

Please improve this by adding secondary or tertiary sources. Movements to amend the financial systeem. Fiscal policy. Monetary policy. Bank reserves requirements Discount window Gold reserves Interest rate Monetary authority central bank currency board Monetary base Monetary currency union Money supply. Trade policy. Revenue Spending. Non-tax revenue Tax revenue Discretionary spending Mandatory spending. Balanced budget Economic growth Price stability. Fiscal adjustment Monetary reform. Main article: Fractional-reserve banking. Money portal. Retrieved 13 September Web of Debt. Closing arguments were heard Thursday in the trial of a year-old Waimea woman charged with the murder of a Waimea toddler.

She has pleaded not guilty to the single charge of second-degree murder, which is punishable by life in prison with the possibility of parole. He said although rare, toddlers can suffer serious traumatic brain injuries from short falls. The prosecution presented rebuttal witness Dr. Randell Alexander, a professor of pediatrics and pediatric child abuse at the University of Florida. DeWeese will deliver her verdict of second-degree murder, a lesser included charge of manslaughter or not guilty on Nov. Alcosiba-McKenzie had reported the toddler fell from an inch bench while wearing virtual reality glasses and did not exhibit symptoms other than vomiting until she found him unresponsive hours later.

She contended his sister had a flu previously, exhibiting the same symptoms, so she thought he was coming down with the same thing. Charges were not formally filed until an October indictment, which stated Alcosiba-McKenzie intentionally or knowingly caused the death of Garett-Garcia including voluntarily omitting to obtain reasonable necessary and available medical service. A motion providing additional time for the plaintiffs to submit a pretrial statement was extended in March. Clifton McKenzie has not been arrested or charged with a crime in connection with the incident, and is only a defendant in the civil litigation. Your email address will not be published. Get the latest email updates about the coronavirus outbreak — it's FREE! Hawaii News. Share this story.

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