Economic Analysis, Theory

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Lucian AerisThe bottom line is we need to take the power to create money away from commercial banks. Everything stems from this, and this is what PM was set up to achieve....

4 days ago

Chris CookWhy involve central banks in credit creation for either development financing or operational funding if they cannot create energy?The straightforward solution to funding the transition to a low carbon economy is to combine:Energy Swaps: asset/IP use exchanged for the use of energy through production...

5 days ago
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Laughing_GnomeVery good point Medial Axis. The cashless aspect had gone out of my mind. I had forgotten the hunt is on for cash and that negative interest rates are one of the likely drivers. Also getting potential visibility of all taxable activity. The reach-in and grab could also happen, but I suspect they wou...

Yesterday

medialAxisLooks like quite a few central banks are jumping on the "block chain" or at least looking to providing a Central Bank Digital Currency (CBDC) and accounts to retail customers. Some down sides might be loss of privacy, tax taken on the fly (up to you to claim it back if it's wrong) and negative inter...

Yesterday

Laughing_GnomeManage to read the article. Good information. So the BofE has 24 clients! Tried once to get them to identify but was refused on "confidentiality" grounds.There's a lot in the mix there. So when they update their RTGS system they want the capability for a / their cryptocurrency to co-mingle. Interest...

4 days ago
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Money Creation & Interest: Is there enough money to pay off all the interest? (Part 2)

Screenshot 2017-02-23 12.16.19

This is the second part of our article dealing with the argument that bank lending must lead to escalating debt because banks don't create the money needed to pay the interest on the debt. Part 1 explained how the wrong conclusions have been drawn from the oft-repeated ‘banker on a desert island’ analogy. We showed that it is mathematically (and therefore logically) possible for both the principal and interest of a loan to be repaid.

MarijkeAt this moment I'm lost and having a big headache, because I thougt that I started to understand the system. But now I am lost.My only hope is that Draghi as the biggest moneymaker and illusionist ever wil be dismissed, why he never should have been placed in the position of ECB as former GoldmanSac...

2 weeks ago

Roger Glyndwr LewisThe mechanism for the accelerated growth of indebtedness and corresponding monetary assets – a veritable infernal machine – is described in full detail in “The Money Syndrome” by Helmut Creutz.http://www.themoneysyndrome...The following graph is taken from the book “The Money Syndrome“. ...

3 weeks ago

Bob WelhamAn old PM blog from 2012 that attempts to illustrate the pernicious nature of our commercially issued, debt-based money system, using the maligned "desert island economy" thought experiment. There is no mention of the "is there enough money to pay all the interest" red herring. The real danger is sh...

3 weeks ago
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James MurrayLucian and PJM,You must be right that hitching the PM wagon to the Global Warming Star is doomed to weaken its message.It is quite correct that the extra cash that is made available to the Government by means of Sovereign Money Creation can be spent on reducing carbon and thereby attract the Green e...

last month

PJMI agree absolutely, Lucian, and I've tried for years to persuade PM's people to ignore the catastrophic man-made global warming nonsense and simply focus on monetary reform....

last month

Lucian AerisWhy make monetary reform about the pursuit of a 'low-carbon' economy? The supposed threat of carbon dioxide is espoused by a politically sponsored organisation, of which the political sponsor just happens to gain immense international authority as a result of its conclusions....

last month
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