On May Day 2014 :
In an interest-free way -- Root Out Usury!
Yes, interest-free issuance/creation is essential.
The use point - ie lending once created, interest-free - is I think covered by the suggestion that such interest-free credit be not debt-free ie must be paid back.
The best model I can presently think of is the Public Lending Library: the books, etc, there, are lent free-at-the-point-of-use, subject to a pre-specified limit, for return by a certain time, all subject to, both application to the publicly-appointed and paid librarian who has the discretionary power to extend or restrict lending levels.
Just as with the Public Library, the community pays the overhead for the proposed interest-free, wealth-facilitation banking and an advisory service will be part of the scheme: helping new and expanding wealth-creating units (as co-ops, not as for-profit parasites) assess their business needs.
Recall, I hope, that such interest-free money, banking and finance is part of the overall plan for economic wellness: a key element, also, is the not-refundable aspect: a guaranteed income scheme which I term 'A LIFE':
- a Living Income for Everybody
(set at a socially-determined level and related to a socially-determined income ratio/multiplier as the base income to such a minimum, automatic, not-means-tested guaranteed/maximum socially-permitted income ratio).
The full plan is called 'Co-operative Socialism':
- the name isn't anywhere as important as the scheme itself:
see in the papers' section of www.interestfreemoney.org.uk
Thx all - I hope you stay in touch - and even become active in the work to achieve this! As best may be.