The world marks October 17 as the Poverty Eradication Day.
The public is now neglecting that the root cause of the current problem of poverty is the local manifestation of a worldwide banking misconception about money mismanagement.
The leading weakness in the issue of money is the lack of protection against damage from lack of full economic value for money.
If the central banks make the mistake, the more people work for economic growth - the greater the damage and poverty. Today, people are the fates of victims of the central bank's mistake. In the country concerned, the major cause of poverty is the irregularity of its central bank. Poverty eradication is impossible while maintaining bank error.
The possibilities are:
1. When the central bank uses the wrong model for issuing money - business processes are affected by damage to the behavior of the central bank and with increasing poverty.
2. With a central bank with the proper issuance of money, it has the conditions to solve the poverty problem.
If the central bank is mismanaged, it is not possible to offer a true recommendation for poverty relief.
The correct solution to the problem of poverty is to end the local manifestation of age-old banking error. With this approach, the country concerned eliminates the current cause of poverty.
Important for sustainable development is the proper issuance of money. The improvement in the work of the central bank creates the conditions for sustainable development.
It is up to the public to realize that:
1. While maintaining the central bank improperly issuing money, it is impossible with sustainable success to help the needy poor.
2. Beneficial assistance to the needy poor is possible when the central bank properly issues money.
Ivan Mitev - economist