Promise to Pay
“Promise to Pay” by Robert McNair Wilson, published by Omnia Veritas Limited on April 22, 2015, is a thought-provoking exploration of monetary policy and its impact on society. This 144-page book addresses the fundamental issues of poverty and hunger, asserting that the root cause lies in the inadequate distribution of money rather than a lack of resources. Wilson argues that the state should control the creation of money, ensuring that it is backed by goods and services, to maintain a balance between production and purchasing power.
Readers will find a detailed examination of how current monetary systems fail to align with the needs of the population. The book discusses the implications of private banking on money supply and the resulting economic disparities. By delving into topics such as economics and monetary policy, “Promise to Pay” presents a critical perspective on how financial systems can be restructured to better serve society. This edition is available in English and offers insights relevant to those interested in business and economic theories.
Official synopsis Publisher
In the civilised world there are enough raw materials, machinery, labour and scientific knowledge to satisfy the needs of all the inhabitants. Poverty and hunger exist because people have not enough money to buy all the output of modern civilisation at a fair price to the producers. When there is a shortage of anything the most obvious remedy is to create some more and there is no real difficulty in creating more money. PROMISE TO PAY shows how this should be done when money is backed by goods and services. The creation of money should be in the hands of the State or Head of Government and not in the hands of private banking. The state would issue sufficient money to enable the buying power to keep pace with production. Paper money issued by banks is not real money but “Promise to Pay” money and the amount in circulation bears little relation to the amount of goods and services available. When there is less money than goods, people go short of food and clothes. When there is more money than goods prices rise and people pay more and more for less and less.
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