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Jim MI read the paper and am not much the wiser for it. There is a lot of talk about how modern banking works and a small section at the end on sovereign money but no real comparison to full reserve. Having read Andy's books and now this paper it would appear that both are very similar systems with the m...

3 weeks ago

PJMJim, the Sovereign Money proposal outlined in this paper is not a "full reserve" system. Rather, it is a "no reserve" system. Here is the URL for a paper by Prof. Joseph Huber, who is perhaps the world's leading expert on Sovereign Money, explaining the difference:http://www.sovereignmoney.eu/s...Pr...

3 weeks ago

Jim MAndy Anderson's books "currency" and "moving On" both go into this is good detail. They show how a full reserve currency in a state controlled bank could create full employment as it did in the past, before fractional banking and the tories took charge giving the banks free reign to print money....

4 weeks ago
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SimonWell done for this year, and all the best to Ben, who was one of the founders of Positive Money, in his new job at the Bank of England. This should hopefully make the B of E more responsive to monetary innovation, and devise policies that work for all, rather than large commercial banks and big inve...

4 weeks ago

James MurrayHi PM,Can I congratulate you on the year you have all had - well done....Can I also congratulate you on adding the extra tabs to the top of the PM web pages.I am just working my way through the 'Videos' tab for those I have not yet seen yet and the 'Publications' tab similarly for the several PDFs I...

5 weeks ago
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To be made sick by medicine: Quantitative easing and inequality after the financial crisis

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The sustenance of economic systems often relies on delicately balancing two perilous extremities. When looking at inequality, for instance, one finds that the lack of it will lead to an economy’s atrophy, while its excess may lead to unsustainable tensions. Since the end of the most recent financial crisis, developed countries have been inclined towards the latter scenario.

SimonAnd the banks themselves were increasing house prices by extending more credit. Eventually the system collapses as people cannot repay. At the height of the mania in 2004, I could have an auction in my front room, as people were desperate to buy my fairly ordinary house. Every property at the local ...

last month

Vince RichardsonThanks for the post,it is as we all expected.I did like this sentence," More recently, inequality has been rounded up in the lengthy line-up of factors accused of provoking the Global Financial Crisis"I concur with that view.Sub prime or selling mortgages to lower/middle income borrowers was a huge ...

last month
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joebhed"Wealth, Virtual Wealth and Debt", by Dr. Frederick Soddy, the gentleman who brought the thinking of money as a 'systemic' science together with his understandings of natural science. Informed Simons, Fisher, Friedman and others.I'm pretty sure the W,VW &D book is available online for reading, w...

3 weeks ago

joebhedTo clarify, I never said that the banks “should” make allthe rules, just that they “do”.Which you have just confirmed, along with its associatedproblems.I agree with everything you wrote, perhaps except that beingthe major cause for emigrations.Anyway....

3 weeks ago

Rollo10Why should the bankers make the rules? They don't even use their own money, so shouldn't the Treasury make the rules and the bank obey them? Doing it the other way round is what created the mess in 1930 and 2008. They dropped Glass Steagal for their benefit, they have fiddled LIBOR, Gold & Silve...

3 weeks ago
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10,000-strong petition delivered to the Treasury

Two weeks ago, thanks to Positive Money supporters sharing the petition, and hitting the streets together to gather signatures, we delivered our biggest ever petition to the government. Over 10,500 of us called on Chancellor Philip Hammond to stop pumping new money into financial markets, propping up the rich, and instead spend new money on projects that would benefit everyone in society.

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