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David A. JonesThanks for the info Ralph. But when you say "Government borrows £X from the private sector..." does this step involve credit creation? Or do you mean "borrows" literally, as in existing purchasing power being transferred from the private sector to the government? Only if it's the latter I don't see...

March 2013

Ralph MusgraveDavid,You claim that having government “create new digital money debt free to . . . stimulate demand” is “not currently allowed by UK laws”. I suggest that to all intents and purposes it IS ALLOWED. It’s just that government and the BoE have to engage in a silly paper chase to create the ...

March 2013

David A. JonesHah, sorry, I didn't realise I was stealing your title! Great minds title alike?!...

March 2013
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Money and Ecology

"Debts are subject to the laws of mathematics rather than physics. Unlike wealth, which is subject to the laws of thermodynamics, debts do not rot with old age and are not consumed in the process of living. On the contrary, they grow at so much per cent per annum, by the well-known mathematical laws of simple and compound interest ... It is this underlying confusion between wealth and debt which has made such a tragedy of the scientific era."

rideforeverNobody is awake on this planet.People talk about capitalism, but they aren't awake to notice it is welfare for the rich, not capitalism. Capitalism has not been implemented.If nobody is awake, then it is not a question of providing a NEW system. Since nobody was awake to implement the old system.T...

August 2013

RossThis is great. There are lots of interesting areas of study in ecological and environmental economics, but connections between debt-driven private money supply and ecology is a new one for me. Really enjoyed it, would be interested to read more...

May 2013

KyleGreat article! Has Positive Money incorporated the work of Steve Keen? I will point out that it is exactly in line with your arguments about private debt and economic growth.For example, Keen has proven mathematically that Aggregate Demand equals Income plus Change in Private Debt. Taking the 1st de...

March 2013
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'Fiat money' or Gold Standard?

Many people, upon first learning about 'Fractional Reserve' Banking, are drawn to the idea of the Gold Standard. They find out that 'Fractional Reserve' Banking leads to an inflating money supply, moreover one plagued by cycles of boom and bust due to its elasticity. They dislike this - they want money to work as a safe store of value by fixing its total supply. The Gold Standard is one way of doing this.

RobertThe only currency government wants is the one they can tax and extort from the people....

January 2014

John C. Turmel, B. Eng. Fiat or Gold StandardJct: I guess they're not going to find the best standard if they limit their focus to those two. With the proliferation of LETS mutual-credit timebanks around the world, how can the miss the Time Standard Of Money proposed in MiIllennium Declaration C6 to governments to restruct...

February 2013

obliviaThe only currency people want is the one they can pay their taxes with. ...

September 2012
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