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How the current process of money creation is causing a rise in poverty, instability and inequality (Video)

ben meaning conf

Ben Dyson, founder of Positive Money presenting at Meaning Conference 2014 on 18th November in Brighton. He got into the nitty gritty of how the current process for money creation is causing a rise in poverty, instability and inequality. And challenged the audience to imagine what a modern and sustainable system could look like.

Liability could be issued as zero-coupon irredeemable bonds

FT letter Fran

Sir, Simon Ward (Letters, November 13) states that Adair Turner’s proposal to fund government spending with newly created money “would involve the creation of more Bank of England reserves, which represent a liability of the state and bear interest”. But there is no reason that the new liability would have to bear interest, since it could be issued as zero-coupon irredeemable bonds, reads the letter by Fran Boait in Financial Times, 16th Nov 2014.

GuyHarper"With regards to reading the proposal - I may be mistaken, but I think I may be the first person to suggest this parallel system of reserve accounts. I'd be happy to find out someone else has had the idea and fleshed it out in further detail but I haven't seen it anywhere so far :)"I assumed this i...

November 2014

dannyboyFirstly, I think this proposal (which I was able to outline in a couple of paragraphs) is orders of magnitude less complex than reams of new regulations that are being implemented in an attempt to patch the existing system.If you are worried about banks trying to offload these new reserves back to t...

November 2014

RJIt would create an unnecessary level of complexity. And the banks would likely just use these nil interest reserves to settle with the treasury (for our tax payments) the very same day. A better suggestion would be just to increase the required reserve holdings to back deposits held....

November 2014
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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....

November 2014
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Andrew BuckleyThe most pernicious case of this with regards to MMT is their definition of money creation, and how they carefully (almost dangerously) distinguish it from bank credit. It's this financial asset thing again. Their take is that only the government can create money, because bank loans create no net ...

December 2014

montmorencyI have posted this in another thread, but it seems relevant here:http://www.monetary.org/wp-con..."A Discussion of Modern Money Theory and New Currency TheoryPaper prepared for the American Monetary Institute's 9th Annual MonetaryReform Conference, Chicago, 19–22 September 2013Joseph Huber"It comp...

December 2014

Captain AmericaOf-course money spent on taxation is redistributed within the economy. It is debt-based money gong round and round....

December 2014
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PolymathThen why does North Dakota, the only state with a state owned bank, have the lowest debt burden throughout the US? The interest is recycled back into the productive economy.I don't doubt, however, that Positive Money is the optimal method....

November 2014

JamieWalton77Question: How is the Positive Money proposal fundamentally different from the Public Banking solution?Answer: The Positive Money proposal adds money to the economy without adding debt to the economy, whereas the "Public Banking solution" only adds money to the economy by adding more debt to the econ...

November 2014

JamieWalton77Mr Wolf's point was that in a large bust in a large country, the government of that country would not allow a bail-in, instead, they would do whatever it takes to preserve the deposits of the banking system, and he alluded that this is what Mr. Geithner writes in his book also....

November 2014
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