About MMJ

Who We Are?

We’re a not-for-profit organisation based in Malaysia (although we also work with partners around the world). We rely on a team of skilled and dedicated volunteers.

Our Advisory Panel includes economics professors, authors, entrepreneurs and people from the financial industry who know that something needs to change.

What We Do?

Monetary Justice is a movement for a fair, democratic and sustainable money system.

Our current financial system has left us with the highest personal debt in history, unaffordable housing, worsening inequality, high unemployment and banks that are subsidised and underwritten with taxpayers’ money. We believe that these problems have a common root: money.

Our Objectives

N

To advocate an Islamic Monetary System.

N

To educate society on the flaws of the current monetary and banking systems.

N

To encourage society to lead a debt-free lifestyle.

N

To establish alternative Islamic financial institutions.

N

To educate society on Islamic Muamalat.

FAQs

Who are you?

We’re the Malaysian local movement to democratise money so that it works for society and not against it. We’re working to tackle an issue that is at the root of many of the social and economic problems that we’re facing today.

What’s the solution?

We believe the power to create money must be removed from the banks that caused the financial crisis and returned to a democratic, transparent and accountable body. New money must only be created and used to benefit the public and society as a whole, rather than just financial sector. We have detailed and workable proposals that would allow this to happen.

What’s the problem?

Right now most of the money in our economy is created by banks. Banks create up to 97% of money, in the form of the numbers in your bank account, when they make loans. This means that they effectively decide a) how much money there is in the economy, and b) where that money goes.

The control of the creation of money, in the hands of banks, has contributed to the problems of:

unaffordable housing
high unemployment
high personal debt
growing inequality
high government debt
financial crisis and economic instability

What Is MMJ?

MMJ is a not-for-profit campaign and research organisation. We raise awareness about injustice with regard to current monetary system, how money is created, why it is a problem, and how we should change the monetary system so that it benefits society, business, and the environment.

PETITION
BY MOVEMENT FOR MONETARY JUSTICE MALAYSIA

Sign This Petition

Governments come and go but the rakyat is still burdened with high and ever-increasing food and cost of living prices. Why? Is it because incorrect economic policies are in place? The truth is there will be NO CHANGE until a country’s monetary system is changed.

This is the reality of life, governments must address and not ignore. And no, it is not impossible to change the monetary system; it can be done, step-by-step.

But first, let us understand how the monetary system permanently increases prices. Inflation occurs when too much money is produced chasing too few goods, or goods that do not increase in quantity as fast as the increase in the quantity of money.

So the solution must be to reduce the production of money or to make the volume of money increase at the same pace as the increase in goods and services.

That is fine if money is produced only by governments. But what if it is the private sector which is producing 95% of a country’s money and the government via its central bank is only producing 5%?!!!

This is the reality of life not understood by many. This is the situation in all countries in the world. Central Banks via currency notes and coins produced only on average 5% of a country’s money; banks create 95% of a nation’s money when they give out loans!

Yes, banks create new money when they give out loans. And this money is not in the form of currency notes and coins. They are in an online form being the numbers in your bank account which you make payment via chequebooks, online transfers, and ATM machines. These are the money banks create. And this phenomenon is conceded to, and confirmed, by the Bank of England, The Federal Reserve of the US and by the European Central Bank. To understand the process you may wish to visit our website at mmj.my or websites of similar NGOs throughout the world like Positive Money of the UK.

Now when banks produced money when they give out loans they really are concerned only with making profits; they are not concerned with the effects of their overproduction of money towards inflation for the nation.

Banks’ ability to create money is responsible for the inflation havoc suffered by the rakyat; unending rises in food and cost of living prices and bubble inflation in house prices. Banks happily make profits; the rakyat suffers silently.

So the time has come for the government to acknowledge this problem, and begin to change and reform the monetary system.

Movement for Monetary Justice, as a registered NGO with the Objective of Reforming the Monetary System, have practical solutions to solve this problem.

Please sign this Petition to support us and to request the Government to commence discussions on Reform on the Monetary System in order to solve the problem of persistent increases in the cost of living most unfairly burdened on the rakyat.

Secretariat,

Movement for Monetary Justice/ Pertubuhan Gerakan Keadilan Monetari

Sign This Petition

PETISYEN
OLEH PERTUBUHAN GERAKAN KEADILAN MONETARI MALAYSIA

Tandatangan Petisyen Ini

Kerajaan datang dan pergi tetapi rakyat tetap dibebani dengan kenaikan harga makanan dan kos kehidupan yang tinggi dan terus meningkat. Mengapa? Adakah kerana dasar-dasar ekonomi yang tidak betul? Sebenarnya TIDAK AKAN ADA PERUBAHAN sehingga Sistem Monetari negara diubah.

Ini adalah realiti yang kerajaan harus hadapi dan tidak mengabaikan. Dan bukanlah mustahil untuk menukar sistem monetari; ia boleh dilakukan, langkah demi langkah.

Tetapi terlebih dahulu marilah kita faham bagaimana sistem monetari menaikkan harga secara kekal. Inflasi berlaku apabila terlalu banyak wang yang dihasilkan mengejar terlalu sedikit barang, atau barang-barang yang tidak meningkatkan didalam kuantiti secepat peningkatan jumlah wang.

Oleh itu, penyelesaiannya adalah untuk mengurangkan pengeluaran wang, atau membuat jumlah wang meningkat pada kadar yang sama dengan kenaikan barangan dan perkhidmatan.

Mudah dilaksanakan seandainya wang hanya dihasilkan oleh kerajaan. Tetapi bagaimana jika sektor swasta yang menghasilkan 95% daripada wang negara dan kerajaan melalui bank pusatnya hanya menghasilkan 5%? !!!

Inilah realiti kehidupan yang tidak difahami ramai. Inilah keadaan di semua negara di dunia. Bank Pusat menerusi mata wang kertas dan duit syiling hanya menghasilkan 5% purata wang negara; bank-bank mencipta 95% wang negara apabila mereka memberi pinjaman!

Ya bank mencipta wang baru apabila mereka memberi pinjaman. Dan wang ini bukan dalam bentuk mata wang kertas dan duit syiling. Ia dalam bentuk dalam talian atau online yakni nombor-nombor dalam akaun bank anda yang anda guna untuk membuat pembayaran melalui buku cek, pindahan dalam talian dan mesin ATM. Ini adalah wang yang dicipta oleh bank-bank. Dan fenomena ini diakui, dan disahkan, oleh Bank of England, Federal Reserve AS dan oleh Bank Pusat Eropah. Untuk memahami proses ini, anda dijemput melawat laman web kami di mmj.my atau laman web NGO yang seangkatan di seluruh dunia seperti Positive Money UK.

Apabila bank menghasilkan wang apabila mereka memberikan pinjaman mereka hanya peduli keuntungan mereka; mereka tidak ambil kira kesan daripada pengeluaran terlalu banyak wang ke arah inflasi bagi negara.

Keupayaan bank-bank untuk mencipta wang adalah punca masaalah inflasi yang ditanggung oleh rakyat; lonjakan harga makanan dan kos harga hidup dan inflasi gelembung harga rumah. Bank-bank mengaut keuntungan; rakyat menderita dalam senyap.

Jadi sudah tiba masanya untuk kerajaan akui masalah ini, dan mula mengubah dan mereformasikan sistem monetari Negara.

Pertubuhan Gerakan Keadilan Monetari, sebagai NGO yang berdaftar dengan Objektif Mereformasikan Sistem Monetari, memilikki penyelesaian penyelesaian praktikal untuk menangani masalah ini tetapi hasrat kami untuk menjelas kepada kepada kerajaan tidak kesampaian.

Sila senaraikan nama anda diPetisyen ini sebagai tanda menyokong kami dan meminta Kerajaan untuk memulakan perbincangan mengenai Pembaharuan/ Reformasi Sistem Monetari Negara untuk menyelesaikan masalah peningkatan kos sara hidup yang sedang ditanggung sengsara oleh rakyat.

Sekretariat,

Pertubuhan Gerakan Keadilan Monetari/Movement for Monetary Justice

Tandatangan Petisyen Ini