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What are Economists Saying About Iceland’s Sovereign Money Proposal?

Screenshot 2015-04-10 07.59.49

A study recently commissioned by the Icelandic prime minister, Sigmundur Gunnlaugsson, and written by Frosti Sigurjonsson, displays an accurate analysis of how banks create money and endorses Sovereign Money proposals. But what are people saying about the report? Of course there are criticisms of the report and some of the usual misunderstandings, but most people think it's a proposal that merits serious consideration:

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Stamatis KavvadiasI do not fully agree with your example, because in a monetary economy there is *necessarily* a middleman (the bank) *in every transaction*, actually making profit!!! As a result, the money they create, behave as --and are legally-- *their money* and can be lost if they have losses.Creating money on ...

3 weeks ago
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Postkey"The main effect of QE is to reduce interest rates for bonds."This is what the 'Thatcherite monetarist' has to say re Q.E..“In short, although the cash injected into the economy by the Bank of England's quantitative easing may in the first instance be held by pension funds, insurance companies and...

May 2015

Postkey" There is only one cause of inflation which is too much money chasing too few goods and cost push inflation is a fallacy."Why don't you go to the Bank of England site and discover how much M4 has increased since 1963?http://www.bankofengland.co.uk...The code is LPQAUYM...

May 2015

Donald BealThank you for referencing qb14q102.pdf. I had drawn my conclusions from qb14q1.pdf which is less detailed.You are right. It says that the commercial banks are allowed to create money to purchase bonds as well as create money to make loans.I was right to say that reserves are not part of broad mone...

April 2015
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Gurmeet SinghPositive money is just trying to create an alternative to get more money allocated to the public, but this will not work. What we need is to convert the Central Banks into prisons and lock all the Central Bankers in there and with their accomplices, for crashing the banking system on purpose as dis...

last month

Gurmeet SinghYes Justin's right they need to get the Rothchild Central Bank out and create their own Sovereign money....

last month

FortheworldI would like a list of names of such shadow government that rule us all...

April 2015
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Is this the Type of Recovery we Need?

budget 2015

In his annual budget speech yesterday, Chancellor George Osborne (the UK’s finance minister) declared that UK economy looks like to be in great shape, and that Britain is “walking tall again”. Jobs are being created, growth is on the up, living standards are improving, the national deficit (as a share of national income) has been halved, and ‘economic security’ is being prioritised.

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