———- Forwarded message ———
From: Steven – American Monetary Institute <members@monetary.org>
Date: Tue, 5 May 2026 at 17:10
Subject: Webinar: “An Economy Built on Debt — Is There a Way Out?”
To: Peter Challen <peterchallen@gmail.com>
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| Dear Peter Challen, Global debt just reached a historic record of $348.3 trillion — more than three times the size of the world economy. Mortgages, consumer loans, corporate debt, and government deficits continue to grow at extraordinary speed. Why? There is an explanation that is rarely discussed in public debate. In today’s system, money itself is created as debt. This means the money supply can only grow as debt grows. Is there a way out from under the ever-growing mountain of debt? Together with 11 partner organizations, we have invited former IMF and Bank of England economist Dr. Michael Kumhof. He explains how the current system fuels over-indebtedness, inequality, and financial crises — and presents a credible and realistic alternative: debt-free money. Read more and register now to secure your spot on Thursday, May 28, 12.30-2pm EDT (18.30-20.00 CEST): As Dr. Kumhof explains, almost all money today is created by private banks when they grant loans. We borrow the entire money supply and pay interest to private banks for the money to exist. Register Now What’s the problem with that? For many decades, the money supply—and thus our debt—has grown 2–3 times faster than GDP. In other words, our debt is growing faster than our income. It’s like trying to climb a mountain that’s growing taller faster than you can climb it. Sooner or later, the mountain of debt will become too great, leading to another financial crisis. At that point, the government will be forced to bail out the banks—otherwise, the money supply risks collapsing and the ability to make payments will be wiped out. Find links to his key articles and read much more about this webinar on the registration page. Michael Kumhof is a central banker who combines his skills with a concern for humanity. It is not for one person to carry the world on his shoulders, but Michael has done humanity and our community a great service by advancing monetary reform. Register Now Best regards, Steven, Lucille, Govert, Mike, Samuel, Patrick, Joe and the rest of the team at the American Monetary Institute. |
