Financial Crisis, Global Situation

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Chris CookFirst point is that a complete political economy may be built using only risk, production & cost sharing agreements & promises/credit instruments. These agreements and instruments pre-date modern finance capital (debt, equity & derivatives) by millennia and will replace them.Secondly, be...

last month

James MurrayChris,I did ask that you simplify your very long and, to me, indigestible post so that your point may be better understood.Your reply regretfully does not that simple clarity.Perhaps I am a bear of very little brain.But on your two points:1. "...neither debt nor equity are necessary"Why? And so wh...

last month

Chris CookThanks for your response, James.Firstly, in relation to double entry book-keeping, debits and credits are not limited to accounts receivable and payable: they also relate to the equity claims of owners on one side of the balance sheet, and an asset registry (memorandum account) on the other side of ...

last month
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James MurraySimon,Finding a major economist who is not from the banks and in a position of power, such as Governor of a Central Bank will be very difficult.Carney at the BoE is a case in point.I listened to his talk at Liverpool Business Conference:https://www.youtube.com/wat...All he could do was describe the ...

April 2017

SimonProbably Jim. I suggested to Ellen that infrastructure projects could be carefully and competitively costed and the State or Central Bank could provide interest free loans for that amount. Repaying the loans would have a deflationary effect. The fears of conventional economists about inflation are m...

April 2017

James MurrayIt's puzzle.Let us imagine that Trump the politician had its Government happened upon a surprise motherload of practically pure gold on federal land, almost ready easily to be melted down and used as currency, and so without the pain of more taxes, more borrowing, a greater increase in the National ...

April 2017
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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...

January 2017
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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...

December 2016

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....

December 2016

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...

December 2016
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