Tag Archives: Early Day Motion

MPs sign Early Daily Motion about 100th Anniversary of Bradbury Pound – the UK version of the US Greenback

13 11 22 EDMsHow ominous is this: 13 11 18 EDM 748

  1. 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‘.
  2. After Austin Mitchell MP tabled it on 18 Nov 2013,  Kelvin Hopkins MP, Jeremy Corbyn MP and Paul Flynn MP signed already!
  3. 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?

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CAPITALISM EXPOSED for the Parliamentary Commission on Banking Standards

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

Enforcement of Bank of England Act 1694

This Early Day Motion was tabled by our Austin Mitchell MP on April 20, 2009:

David Taylor MP tries to turn its message into an Amendment to the Budget.

I had sent the Act to HM Queen who sent it to Downing Street, who sent it to the Treasury which has not responded yet. But, for the first time in her reign, HM Queen has seen the Governor of the Bank of England!

That this House, observing that the intention of the founding Act of the Bank of England in 1694 was `that their Majesties’ subjects may not be oppressed by the said corporation’, notes that those subjects have been seriously oppressed by the Bank’s failure to control the greed, risk-taking and speculation of the banking system over which it presides; and therefore suggests that this oppression should be dealt with as the Act provides by fines three times the value of the abusive trading.

The first MPs have signed. Will you get your MP to sign via WriteToThem?

In our observation, oppressions through banks are due to:

1. There is now only a limited number of qualified staff in every branch. In fact, what used to be professional training for a professional body, ACIB, has become a “School of Finance“.

2. The training in “banking” is limited. It consists only of “sales”.

3. There is now little responsibility in local branches.

4. Instead, all decision making has been centralised. This results in the decision makers having little personal knowledge of the client or a perspective about a business.

5. There is little comprehension of day-to-day business issues.

6. There is no realisation of the criticality of time or expediency.

7. There is limited knowledge of supposed Government support. As an example, the Small Firms Loan Guarantee Scheme (SFLGS) was reducing before the crisis.

8. Instead of joined-up thinking, staff are only box tickers and have no room for initiative.

9. MPs have very limited knowledge of the depth of the problems, even before the crisis.

10. Day-to-day business borrowing for “normal” clients has never been excessive. In fact, it was already very restrictive to Small and Medium Enterprises (SMEs) and often even obstructive.