Tonight I had dinner with Stephen Zarlenga of the American Monetary Institute, along with three others. Stephen points out some basic problems with our national economic system and has proposed legislation (the American Monetary Act) to remedy those problems.

I agree with Stephen’s analysis in many respects, but I have two fundamental disagreements:

1. Decisions (including decisions about money) should be made at the community level, not by a central authority hundreds or thousands of miles away. Money can and should be created by communities, not by a central authority.
2. Federal legislation that would disempower those who have a controlling influence has very little chance of succeeding. Change at the community level is much quicker and is ultimately more likely to have widespread success.

Unfortunately we did not have the opportunity to discuss these issues.