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Monetary policy risks provoking political backlash, campaign group tells MPs

QE bank of england

The Bank of England’s quantitative easing programme risks prompting a catastrophic loss of public trust in how the UK economy is managed, Positive Money warns. The campaign group’s director said that the public will “rapidly run out of patience”, as QE drives up inequality and effectively provides a subsidy to foreign-owned corporations.

SimonMPs need to understand where money comes from, and how it is removed from the system. Are they happy with the status quo, where nearly all money is created by commercial banks, or should the Bank of England be creating some or all of our money, is the present system of QE desirable ? They need to an...

18 hours ago

Michael Wallace EllwoodFor the record, I emailed my MP asking her to attend the debate, but so far have received no reply. (However, I believe she got married not long ago, so perhaps she has some excuse ...). Seeing the remarks above referring to the Independence of the bank of England, respectfully I beg to differ with ...

4 days ago

Marco SabaYou have to read this to understand that something is broken in bank accounting for money creation: US G.A.A.P.: bank's demand deposits are NOT an IOU http://leconomistamascherato.b......

5 days ago
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James MurrayMy interest in Richard Murphy has been piqued with the rise of Jeremy Corbyn and his PQE.RM apparently is the guru for this so-called Corbynomics and so, I imagine along with many others, I have bought his book The Courageous State.I did find a huge amount to agree with in the book - it was full of ...

September 2015

Mighty OafA standard Richard Murphy response unfortunately. Starts a debate, and then attacks those that don't agree with him, effectively closing down the debate by stating definitively that alternate views to his show misunderstanding. His attitude to debating is woeful....

June 2015

Barney RubbleSadly Richard Murphy initiated this debate but could bring not himself to respond or dispute any of the arguments made by Ben Dyson. Instead, he offers this rather poorly worded attack on Ben. Why start a debate only to end it like this. Concession of defeat?Richard Murphy: "What can I say barring t...

June 2015
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Stanley MulaikThe following is a piece I have written recently of an economic idea that allows for a well-mangaged monetary system, which I think Labour and Lib Dems would like to work with:MMT (Modern Monetary Theory) is not just the idea of printing money during deflations. (As far as I can tell, MMT and 'posi...

May 2015

Stanley MulaikWhich is a shame, since having debt-free money should appeal to left-wingers who favor governmental spending on general welfare.But Democrats in the United States are almost as ignorant about their money system as the Teaparty Republicans. It's a complex subject I suppose, and the weak-minded have ...

May 2015

Stanley MulaikDo I understand correctly that all newly created money in the British monetary system is based on debt based loans? In the United States deficit spending, although it borrows money from banks by selling securities to them, becomes effectively debt-free by the agreement between banks and Treasury t...

May 2015
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Auburn ParksSo I scanned through some of the stuff at the perfect economy website, holy crap is that some vacuous bullshit. If thats your idea of "educate yourself on money creation" then you're just as far off the reservation as any right wing gold bugger I've ever seen. Good luck with all that....

January 2016

ukguyforumMathematical Perfect Economy [ MPE ] is the only solution forward but governments are scared of this and upsetting the corrupt bankers google this to educate yourself on money creation....

January 2016

roberto martoranaThis is my page about a new theory macroeconomic conception monetary system https://www.facebook.com/notes... , #macroeconomicsustainable ,and any reply are well accepted : i wrote about this on "riodialogues"(exposed better in the note https://www.facebook.com/notes... :I suppose a new rule for ...

December 2015
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How pacifists may be funding the arms industry

arms ind

Under the current monetary system customer deposits provide banks with a cheap source of central bank reserves, which are required to make the payments to other banks that may result from the issuing of loans. (Banks acquire central bank reserves (base money) when payments are made to their customers’ bank accounts.) However, despite helping to fund the loans, depositors have no say and little idea over the use of ‘their’ money. They may therefore be unwittingly helping to fund activities that they disagree with.

Not James GreysonJames Greyson You lost me at NATO-published.It's as if you'd link to a "Monsanto-published research" in a reply to an article about the patenting of life forms....

August 2014

James GreysonCould be good for positive money to connect with policies on these related challenges? This NATO-published research connects policies for an ecological economy (#3), reversing the arms race (#4), and sovereign money (#7). http://blindspot.org.uk/seven-......

August 2014
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