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Increasing Competition in Payment Services (New Report)

competition in payment services

Since the crisis the government has been keen to encourage more competition between banks. Their main focus has been making it easier for people to switch their current account between different banks. But we think this misses a bigger opportunity: there is much more potential for competition from technology firms and mobile app developers, who could develop current/checking accounts and more user-friendly ways of handling your money and payments.

Andrew BuckleyThat's exactly right. When people are taught that they all deserve the same rights, they get outraged when it is demonstrated that they don't have them. When people are taught that the amount of money is determined for their benefit, they will be outraged if there is obvious misconduct in the proc...

1 weeks ago

Andrew BuckleyThat's about as much as I know as well :). I don't think one can know any more about it until it's actually attempted....

1 weeks ago

Fran GriffithsYou can think messy reality through as much as you like but it will still surprise you! And as you are thinking people continue suffer the consequences of a truly abysmal system. The representatives of the way things are would like us to argue for ever. While we fight amongst ourselves are leaving ...

1 weeks ago
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ETNIKSI am so glad you in Britain are getting your Parlamentarians to discuss this most important issue and elevate the degree of consciousness they have regarding the importance of Money Creation relative to the Global Debt Crisis we're suffering....

last month
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Gregory SchoenmakersEven if the government issued the money directly, it would still be a debt for the government. The difference is that like the BoE, it wouldn't have to redeem these IOUs for anything; they just call it "legal tender". (It is different for private banks which must be willing to redeem their created b...

October 2014

Gordon BrooksThat brings up the question, though: if the Bank of England is, in fact, part of the government, then why does it issue money as debt? It makes absolutely no sense for a government to sell bonds to itself....

October 2014

Gregory SchoenmakersThe BoE is a nationalized central bank meaning it is part of the government. So any money owed by the government to the BoE is just money owed by one department to another. That doesn't mean that buying up bonds is a good idea. It is sending newly created money to the wrong places - the very rich....

October 2014
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Why we disagree with Ann Pettifor

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A couple of months ago, Positive Money's proposals to reform the creation of money were featured by Martin Wolf (the chief economics commentator at the Financial Times). In an article entitled "Why I disagree with Martin Wolf and Positive Money", veteran campaigner and economist  Ann Pettifor responded that the proposal is 'deeply flawed', 'outlandish', and would lead to "a shortage of money, high unemployment and low economic activity".

sacicrI would like some one to evaluate what I say here. Because I am not an expert, but I think Anne Pettifor is wrong for the following two reasons (apart from all those mentioned in the above article).1) If 97% of the money supply is created as a debt, compound interest will make the debt grow exponent...

August 2014

Jamie Walton"ensure that things stay just as they are." - Wow! That says it all really.Things staying just as they are is not an option.The present system is extractive, is increasingly extractive, and is not sustainable.The present system is driving environmental destruction and leading our biosphere to the p...

August 2014

Jamie WaltonCorrect PJM.Ann Pettifor also seems to be overlooking that savings, once lent, are then spent and are returned into the income stream, so it's not an ever-diminishing scenario. Money would simply pass back and forward between savers and borrowers (as it does now with all non-bank lending; e.g., pee...

August 2014
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