Alternative Finance / Bankrolling The Future We Want 

Financial news recently has focused on the fact that many areas in the Western world have either zero or negative interest rates. For loans this is potentially good news as they will become cheaper, but for savings this is bad news as you earn no money and are likely to go to a system in which you will have to pay for your savings. IF you have savings of course. Either way, going in business with regular banks contributes to exploitation of others through interest on loans or investments in fossil fuels or arms.

Contemporary finance is a set of horrible practices but it is a technique that can also be implemented in different progressive ways.

There are some alternative interest free banking systems that exits and as we approach negative 0 or - rates they become attractive also for those that can not afford ethical banking choices.


One example is the (Jord Arbetere Kapital/ Land Labour Capital) model of banking in Scandinavia. It is a cooperative, member owned banking model. Members forgo interests on their savings in order be able to offer interest free loans to other members, or take out interest free loans themselves. Members also have a say in the operation of the bank and what projects get financed. This is based on and understanding the inequality machine that usury is.

If the negative interest rates set by central banks continue to exist, at some point your bank will start charging you (even more) for holding your money. This is guaranteed to happen with <0 interest.

In the past one had to make a financial sacrifice by forgoing income on savings when switching to an interest-free bank (and not everyone can afford financial solidarity), now all banks are becoming essentially interest free. You might even save money by switching to an interest-free bank.


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