Options for Banking Reform

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ConradJonesJust goes to reinforce the reputation of the Keiser Report as being the number one Financial Program on the planet.Hopefully the first of many appearances for Ben Dyson and PositiveMoney on RT. Well done Ben....

last month

DozyHoleInteresting that the episode before this one they were criticising Martin Wolf. The guest actually said something like "Martin Wolf would realise the importance of savings if people removed their 1 trillion pounds of savings and put it under their pillow"(paraphrasing), I was gobsmacked at the stupi...

May 2014
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Who should have the power to create money?

Who should have the power to create money? In Modernising Money we argue that the power to create money should be removed from the banks and transferred to a democratic, transparent, and accountable body. Martin Wolf recently backed these proposals, but Ann Pettifor describes them as 'deeply flawed' and 'outlandish'.

Economia DirettaMoney is not a commodity,it is a public good, the circulation of money is a public good, only a real democracy have the right to control that the money remain a public good...

3 weeks ago

RobertHIn my view the principal problem facing us is not the one which PM (and other monetary reformers) have focussed upon - the power of the banks to create money by making loans. Nor do I agree that tighter regulation offers a sufficient solution as Ann Pettifor argues. I think that the real challenge...

May 2014

SimonAndrew describes the Bank of England lending at low interest, or creating debt free money, to be spent by the government. I prefer the latter, in that we could create enough debt free money to match money that is now lost when existing debts are repaid. This should not cause deflation or inflation a...

May 2014
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Hyperinflation is born in extremis

Financial Times has published the letter by Ben Dyson, founder of Positive Money, in response to Philip Booth's Comment from April 29th. Philip Booth argues that  Martin Wolf’s proposal to “strip banks of their power to create money” (Comment, April 25) would "put this power in the hands of the “greedy or profligate” governments who have been responsible for many of the great inflations of the past."

bill439True, John, debt enslaves. However, it can be offset by bankruptcy, default or delay. There are few remedies for inflation. It can lead to wage demands that could lead to increase awareness of the faults of the system. Is this why government has taken steps to keep it low?...

May 2014

John MorrisonDebt is worse than inflation. With inflation your money is worth less but you are free to spend it as you wish. With debt you have to find money that you won't be able to spend.Inflation may impoverish but debt enslaves....

May 2014

Sanjay MittalThe MPC is not “populated exclusively by bankers”. Check your facts. Half its members are academics. The other half are not City of London or Wall Street bankers: they are long term Bank of England employees....

May 2014
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bill439Has Coppola never heard of shadow banking. In 2013 its total assets were $21trillion ($67tr in 2007). Wha do they do with them? They lend them and they are outside the commercial banking system....

May 2014

SimonIt is difficult to understand why Coppola and Pettifor think that the existing system has merit when they must be able to see the negative effects it has had in recent times. Coppola has worked for a bank, and raises accounting objections to changing things, when an engineering solution is required....

May 2014

Sanjay MittalFrances Coppola’s claim that “Banks are not fund managers” is a joke. If she looked at the Financial Times she’d find that every large bank “manages” a whole string of mutual funds or “unit trusts” as they’re called in the UK. Indeed, in Laurence Kotlikoff’s version of full reser...

May 2014
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