Options for Banking Reform

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DhdhdhdjAnd none could buy or sell unless they had the mark of the beast. When you reveal the truth about the monetary system to the public then perhaps this means it is almost time to move to an even less favourable system for the people - even more government control of them until they need a mark to do a...

3 weeks ago

medialAxisCan we trust central banks or any central body with such power? Another, and truly radical, alternative is for no one to be in control of the money supply. Actually, money supplies. It's about time we rid ourselves of the illusion only states/central banks can issue money. It's a modern idea that ha...

4 weeks ago
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David Frederick PrestonI wish I did Jim; nothing can change with the current Government in power & the uncertainty of Brexit hanging around us. If those experts had ever got one forecast in ten correct, or the Governing party actually told the truth about what they planned to do, then it may be possible to put togethe...

last month

medialAxisI don't know the answer to your question but, AIUI private individuals don't hold reserve currency and yet QE (which is the 'printing' of reserves, AIUI,) benefits the 1%, yes? As T. May admits....

last month

James MurrayGruffydd,I had to look up SDRs or XDRs as their acronyms seem to be.I understand they can only be used by a country and not an individual.I therefore cannot see how they will protect the wealth of the 1% specifically.Can you explain or send a link?Jim Murray...

last month
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James MurrayProfessor HuberAcademically, a well written, internally sound, riposte to the Bundesbank’s paper, "Remarks on a 100% reserve requirement"But an absolutely dreadful piece to appear on a blog and PM should be ashamed of allowing the piece to be published on these pages.Look. The object of a blog is ...

June 2017

WesThe longest journey (Buba's admission) begins with a single step. Despite the many misconceptions perpetuating the Banking School myths, at least the journey has begun. Bravo for a well written response. I wonder if Professor Krugman will run this through his "dashboard"? A critical mass of public a...

May 2017
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Setting the record straight: Sovereign Money is not Full-Reserve Banking

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The German Bundesbank has recently released an interesting report on the role of banks, non-banks, and the central bank in the money creation process. We have a few issues with the Bundesbank article; however, the majority of the analysis is good. More importantly, the conclusions drawn from the report by news outlets and the blogosphere are misleading.

NicholBI'd think it makes sense to monitor prices in various domains separately. And steer money creation into productive parts of the economy directly. For that is makes sense to have a government investment bank. Or a few that each specialise on their own segment of the economy. Then the central bank ca...

July 2017

HowardPerhaps because supporting sovereign money is the "third rail" of an economists career. Why? Because money is power.Bernhard Lietaer asked Paul Krugman, “Why, with all your influence, don’t you tell people how the money system works?Paul replied, “Didn’t they warn you about not touching the ...

May 2017

HowardSo much of the new money created today goes into speculation instead of the real economy. If new money created by government was spent, lent or gifted into the economy for things people really need and use wouldn't there be little concern about inflation? Inflation occurs due to money going to thin...

May 2017
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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...

December 2016

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.e...Prof....

December 2016

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....

December 2016
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