My name is Jeff Eder, I am one of the cofounders of Progressive Money Canada (PMC) and advocate for money creation for the public good by empowering the Bank of Canada with oversight from Parliament and the public.
My own interest in economics and money began sometime in my late forties, I don’t know exactly when. I have always been curious about how things work and eventually it turned to the economy and money. What I noticed is that predictions by mainstream economists rarely came true, so I started to dig deeper to satisfy the question of why? I discovered that most economists have a gross misunderstanding of how money creation and our current banking system works, which in turn can affect their macroeconomic outlooks.
It motivated me to enroll at a local college and take both micro and macro economics. I was lucky enough to have an economics professor that was open to challenges of the status quo, and he allowed me to speak in front of his own classes directly challenging the money multiplier model and the myth of fractional reserve banking.
I am a retired elevator technician and found my troubleshooting skills, particularly understanding and reading electrical schematics are directly transferable to mapping out our financial system, an ongoing task!
Hence, PMC also advocates for a Royal Commission into the current banking system and map out the money creation process used by commercial banks. Measure its benefits and pitfalls and produce recommendations to improve the system for the public good.
I enjoy hiking, swimming, rock climbing, golf, and reading, not necessarily in that order.