QE for people / Helicopter money

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Lucian AerisWell put, Fran. Except, describing SMC as radical might not help to pull it into the Overton Window....

last month

medialAxisJapan, who you might say was first to suffer from the practices of the banking sector, are leading the way in the take up of crypto-currency, which is likely a sure fire way to undermine the banks and make them change their ways (but not before the lobby against crypto I suspect). Japan's already ac...

last month
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Chris CookFirst point is that a complete political economy may be built using only risk, production & cost sharing agreements & promises/credit instruments. These agreements and instruments pre-date modern finance capital (debt, equity & derivatives) by millennia and will replace them.Secondly, be...

last month

James MurrayChris,I did ask that you simplify your very long and, to me, indigestible post so that your point may be better understood.Your reply regretfully does not that simple clarity.Perhaps I am a bear of very little brain.But on your two points:1. "...neither debt nor equity are necessary"Why? And so wh...

last month

Chris CookThanks for your response, James.Firstly, in relation to double entry book-keeping, debits and credits are not limited to accounts receivable and payable: they also relate to the equity claims of owners on one side of the balance sheet, and an asset registry (memorandum account) on the other side of ...

last month
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Review of “The Production of Money: How to Break the Power of Bankers”

Screenshot 2017-04-14 15.02.20

Summary Ann Pettifor’s new book, The Production of Money, is an excellent contribution to the growing body of thought exposing mainstream, neoclassical economics’ poor understanding of money, banking, and finance, and how its thinking has led to a financial system that we serve, rather than one that serves us.

medialAxisI guess it won't be 1st world economies that take a lead in challenging the banks (too much vested interest IMO or too much entanglement of banks with govts), which is interesting in itself (could leave the 1st world lagging behind). Not sure how S Korea's economy is classified but they're looking a...

last month

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...

April 2017

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...

April 2017
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OliverThis article may also be of interest: http://www.socred.org/index..., as might my 548 paged tome entitled Social Credit Economics: https://www.amazon.co.uk/So......

April 2017

OliverHi Stanislas, this is a very interesting article and I am glad that you have mentioned Douglas and the Social Credit movement. Douglas' 'debt-free' dividend, which, in conjunction with a National Discount on retail goods, would be financed by money creation via a 'National Credit Office, was intende...

April 2017

Stanislas JourdanHi Steve, could you clarify or point out to what this "retail discount" idea would look like? I am unfamiliar with this concept in a monetary economics context. Thanks!...

April 2017
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