How to pay for Universal Basic Income

The merits of UBI are obvious, so this essay will focus on how to pay for it.



A public central bank will provide UBI for everyone. Here is the proof…


While welfare penalises participation in the economy, with UBI one is free to take a job or create your own products or services without having your UBI clawed back.

This has proven to lead to a renaissance of ingenuity and creativity, rather than the disgrace and discouragement of welfare.




OK, here are the numbers !!

Taking the Canadian population of 30 million as the example, then if every adult received $12,000 per year that would amount to 360 billion.

Since private banks create Canadian dollars out of nothing, then so can the government as was the case prior to 1973 by the Banque du Canada, saving interest payments of 60 billion.

The public Banque du Canada would need to introduce new currency as the economy grows to maintain price stability. Assuming a growth rate of 2% on a GDP of 1.5 trillion that amounts to 300 billion.

To sum up (in billions)
(360) – Universal Basic Income
60 – Interest payments
300 – Price stabilisation

This $360 billion is created by the country anyway.
It is up to us to decide whether it

• goes to private banks (the very mechanism by which the rich become richer at our expense) or
• comes to the people (who produce it).

Please support COMER and IMMR and to return to a democratically managed currency as it was prior to 1973.

Basic income is a necessity



How to pay for Universal Basic Income

Invisible tax

Inflation is an invisible tax on wages and savings.

The purchasing power of new currency comes from the dilution of our wages and savings.

But the inflation of the currency supply is far greater than we think.

We all understand that the increase in consumer prices on the shelves (CPI) erodes our purchasing power, but the real inflation rate is much higher. It is the rate at which the currency is actually increasing.



This real rate of erosion is hidden by our productivity (more work, more throughput, more production, with that same inputs) that makes the difference between CPI and M2/3. We work harder and smarter to keep inflation down, but the benefits do not accrue to us, but rather to the currency creators.

This tax accrues to banks.

The inflation of currency also explains the long term increase in stock prices, since that is where much of it ends up, buying up control of listed companies with created currency.



The Network of Global Corporate Control clearly shows the beneficiaries of this bounty of invisible tax on our savings and wages. This currency is created out of nothing, issued as debt at interest.
Note that these loans are claims on our assets, and that bankruptcies lead to the expropriation of those assets.

Also note that the interest to be paid is not also created, thus interest payments come out of the existing currency supply (loans). This inevitably leads to reduction in currency supply, busts, and bankruptcies.

Governments have to keep borrowing more and more just to make those interest payments, eventually forfeiting pensions, gold reserves, land, and infrastructure to restructuring and austerity. The largest single expenditure at all levels of all governments is interest payments. Governments tax us to pay banks.

Governments are simply another type of organisation such as the Vatican, or General Motors. While GM sells motorcars and the Vatican sells hope for their income, governments extort their income through tax agencies, courts, police, and incarceration, ie., the largest government agencies exist for coercion. (If government services were valuable, they could sell them)

Likewise, corporations have to keep growing, churning, and externalising costs onto labour and the environment to pay for financing. This system needs new wars (another large government agency) or corporate capitalism dies. Government- and corporate machinery is devastating us and the earth in service of banks and bureaucracies.

It is access to this volcano of currency that empowers a small group to run corporations, bribe politicians, grease bureaucrats, influence courts, pollute our planet, dispossess and enslave humanity, and cause wars (the grandest of thefts).

They suck the life out of governments, corporations, and individuals through interest and dispossession, while taking control of them through equity, bribery, and destitution.

While we cannot fight them, we will make them obsolete and irrelevant.

Invisible tax