How ominous is this:
- Our 13th Early Day Motion (EDM) since 2002 is EDM 748 to celebrate the centenary of the historic UK precedent of ‘treasury money‘ as an alternative to ‘bank money‘.
- After Austin Mitchell MP tabled it on 18 Nov 2013, Kelvin Hopkins MP, Jeremy Corbyn MP and Paul Flynn MP signed already!
- Besides the centenary for the Bradbury Pound on 7 August 2014, another 100th birthday will take place for World War I on 28 July 2014.
What can we learn from history? Try:
Will you get your MP to sign, too?
I remember reading that Gordon Brown said the Government can either tax or borrow to raise money when he was acting as PM. As if he had forgotten or never knew that governments ought to create money and put it in circulation, if they want to ‘run’ the economy.
BUT: they don’t and don’t seem to want to either.
Here’s a good introductory article: Op-Ed: Debt-free money for 2014?
Here’s a remarkable historic account in 6,000 words: John Bradbury and Thomas Paine.
Here’s a good new video that illustrates the mathematical power of compounding interest upon interest in a debt-based money system: A flaw in the monetary system?
And here are money related petitions you might want to sign:
The Bradbury Pound is for the UK what the Greenback is for the US:
- Cash issued by the Government – rather than Credit borrowed from the Central Bank
- free of interest – rather than interest-bearing
- spent by Government
- rather than banks selling Credit at interest to ‘consumers’.
It is remarkable how ‘economics’ was introduced to obfuscate what ‘money’ is and how bankers have succeeded in getting their Credit accepted as if it was remotely comparable with Government issued Cash.
What is even more remarkable is how ‘people behind the scenes’ have succeeded in setting up more and more central banks via whom to export this fundamental mechanism of Anglo-Saxon hyper-capitalism globally. Iran and Korea are the only countries left.
What hope is there? Let me count the reasons:
- Bring Back the Bradbury Pound has started as a voluntary campaign
- August 2014 will be the 100th anniversary – so a count-down has begun
- The People’s Assemblies Against Austerity have had a major meeting in Central London with a broad base of angry people who don’t buy into ‘austerity’ as a policy that ‘works’.
They have formulated these demands:
- stop cuts and halt privatisation
- tax the millionaires and big business
- drop the debt and put banks under democratic control
- invest in jobs, homes, public services and the environment.
Obvious, aren’t they!? Not to the Assistant of the Committee who wrote this letter published here:
The Treasury Committee has no plans to look into this subject in the foreseeable future.
We shall therefore have to educate the assistants and members of the Committee – once again – after we began with Green Credit for Green Purposes in 2008…
The Commission on Banking Standards invited for submissions and we duly put a document together – in August 2012.
Strangely, the Commission claimed ownership – which, we believe, is contrary to the Copyright Designs and Patents Act 1988.
Even more strangely, the Commission never published our submission – even though our addendum was admitted: a letter from our founder Lord Sudeley and the devastating story by a pension victim…
Three reminder emails and asking my MP Glenda Jackson to check were ignored.
When Lord Turner, Chairman of the Financial Services Authority, spoke about overt monetary financing as the possible ‘solution’ that we’ve been advocating with Early Day Motions since 2002, I felt I needed to tell him and the Commission.
For he talks about “the theory of money and debt”, as if he was in search of the theory that holds astronomy and nuclear physics together! Continue reading
It’s nice not to be alone in one’s thinking!
Here’s another “Chart of the Week” produced by Grep Opie of the Economic Research Council. It educates and demystifies ‘interest rates’ a little. If you click on the chart you get to the original posting with explanations.
They miss the crucial questions:
- why should HMG borrow?
- who doesn’t HMG create interest-free Cash electronically?
- since banks can create Credit from thin air and charge interest, why have successive governments allowed that to happen more and more?