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Archive for January, 2017

medialAxis"Our position on cryptocurrency is that blockchain technology is a very interesting research area, but Bitcoin has a variety of risks, limitations and design flaws that prevent it from addressing the core systemic problems with our monetary system."AIUI, the idea behind bitcoin was, at least in part...

3 weeks ago

Zack, Positive MoneyOur position on cryptocurrency is that blockchain technology is a very interesting research area, but Bitcoin has a variety of risks, limitations and design flaws that prevent it from addressing the core systemic problems with our monetary system. These include malicious mining strategies from withi...

3 weeks ago

Zack, Positive MoneyJust to clarify, Positive Money does not propose a cashless society. Physical cash should remain in circulation as long is there is a demand for it. What we propose is that ordinary people should also be able to hold cash in digital form in accounts at the Bank of England.Please see our Digital Cash...

3 weeks ago
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Vince RichardsonThe Chinese are well ahead on this,but they have banned the financial sector using bitcoin.This may prove a temptation for all central banks.http://www.caixinglobal.com/20......

4 weeks ago

medialAxisSeems another local currency's taking off [1]. Interestingly, if I've read it correctly, it's based on bitcoin. It might be wise for PM to wake up to bitcoin [2], at least take it more seriously and revise its (Ben's) view of it.[1] http://bitcoinist.com/liverpoo..., which has link to http://liverpo...

4 weeks ago

Vince RichardsonDon't see anything wrong with other money sources,as long as it it is not backed by the taxpayer....

4 weeks ago
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Vince RichardsonSpotted by one of our group members from a prof at the University of California (Los Angeles) ,hat tip Ralph Musgrave.https://twitter.com/mikemadowi......

last month
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ConradJonesWe have a perfect opportunity in our History to make the transition from Private Bank created money system to a public created money system as we have the expertise of the Bank of England which is publcily owned and it is clear that the transition from 20% publicly created money system (1950s and 19...

last month
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James MurrayStanley,I do not follow how you can say that a Government's continuing, rolled over debt to the banks where interest is paid regular to them, can be described as 'free'.It is anything but free and allies the banks to continue to extract massive interest payments for loans, the money fir which they b...

2 weeks ago

Stanley MulaikIn the US the Fed cannot buy US securities or give dollars it creates ('prints') from or to the Treasury directly. Everything between Fed and Treasury has to be through other intermediaries.When you say that the BoE cannot pay off the government's debt, does that mean the BoE cannot pay the Treasur...

2 weeks ago

Stanley MulaikIn the US where banks also create most of the money going into circulation, deficit spending is the way debt-free money (for all practical purposes) is created by government to compensate for deflations in the bank-lent economy. Of course the Treasury has to borrow from banks to pay for the deficit....

2 weeks ago
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