Interest trap leading to systemic shortage of money in circulation compared to ever increasing compounding debt owed - John Fullerton JP Morgan Managing Director explains

Insiders are coming out;

Former JP Morgan Managing Director explains interest trap leading to systemic shortage of money in circulation compared to ever increasing compounding debt owed.

About John Fullerton http://www.capitalinstitute.org/view/directors

John Fullerton is the Founder and President of the Capital Institute. He is also the Founder of Level 3 Capital Advisors, LLC, an investment firm focused on high impact sustainable private investments. Previously, he was seed investor and CEO of Alerian Capital Management, an investment firm focused on energy infrastructure that grew to $250m in assets under under his leadership, and before that, a Managing Director of JP Morgan. During an 18-year career at JP Morgan, John managed multiple capital markets and derivatives businesses around the globe, and finally ran the venture investment activity of Lab Morgan as Chief Investment Officer. He was JP Morgan’s representative on the Long Term Capital Oversight Committee in 1997-98. John is currently a director of the New Economics Institute, Investors’ Circle, New Day Farms, Inc., and an Advisor to Natural Systems Utilities. He is a participant/author of the UNEP Green Economy Report. John earned a BA in Economics at the University of Michigan, and an MBA at the Stern School of New York University’s in the Executive MBA Program.

From 2011 interview http://ineteconomics.org/john-fullerton ;

“ I learned that a lot of what we practiced in finance through no ill intent, this is unrelated to the financial crisis, and the ethical challenges of the financial system, but that the system itself is designed to propel growth in the economic system with no regard to the physical boundaries of the planet and with little regard to the social criteria, social constraints of human well being and so it struck me that a lot of the symptoms that we talk about such as climate change obviously being on top of everyone’s agenda, but ecosystem degradation, soil degradation, biodiversity loss. All of these issues are symptoms of an economic system that is essentially bumping into the boundaries of the biosphere, and if you think about finance and even our money system, which is built on a money system which is created through expanding money that has interest associated, so as the money supply grows the requirement to service money grows at a compound rate. That forces at a systemic level the economy to continue growing which if the economy is related to material throughput eventually creates this conflict with the boundaries of the biosphere. So its been a very profound realisation and what I have discovered is that there are an increasing amount of people thinking about this question, but its very much outside the halls of conventional economics and very much new economic thinking.”

http://www.capitalinstitute.org/ Great website founded by John Fullerton using all the resources of most every highly regarded new economic thinkers.