Poverty, Debt and Inequality

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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...

3 days 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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Derryl HermanutzTrue, in the present system commercial banks create virtually all money by expanding their balance sheets. A "bank loan" creates a new deposit account balance (money) and a new loan account balance (debt) in the debtor's bank accounts. The bank issues the new credit-money as a deposit liability. ...

last month

Brighton Lads"But debt in of itself is not necessarily a bad thing. In Western economies, the primary problem is that the bulk of this debt is not being used for productive purposes (i.e. to boost private sector incomes, finance infrastructure and a green economic transition)." Did you read that part? No mention...

October 2016

PJMThat may be true in the present private debt-money banking, monetary and credit system, in which new money is created as debt.However, in a Sovereign Money system as championed by Positive Money. new money would not be created as debt....

October 2016
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2B free1000So true....

3 weeks ago

solutreanI have searched the Internet without success PJM. I do have a second copy of the original manifesto which you may have if we can arrange the transfer via the Positive Money website or other means.Alternatively, I recommend the book “The Eleventh Hour” by John Tyndall, in particular the chapter t...

October 2016

PJMHi solutreanThat's a very interesting quote from 1983. It would be very much appreciated if you could post on this comment stream a URL to the BNP's 1983 election manifesto. I'd like to send it to the leader of the NZ First party, which has voted to have as official policy the introduction of Sovere...

October 2016
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