£45bn Subsidy for Too-Big-To-Fail Banks
8 September, 2011According to The Independent, 8th September 2011: Britain's biggest banks benefited from an implicit subsidy worth nearly £45bn last year because they are too big too fail, according to new figures published ahead of the final Vickers Commission report on banking reform next week. Building on previous research from the Bank of England, the New [...]
Update 7th September
7 September, 2011In this update: Positive Money Conference, London, 29th October – Early Bird Discount on tickets Events in London, Belfast, Bath and Nottingham Plans between now and December We need your feedback! The Latest from the Blog Positive Money Conference, London, 29th October Early Bird Discount on tickets Steve Baker MP & Michael Meacher MP [...]
Report on the first Edinburgh MeetUp
6 September, 2011Here is a report from the great MeetUp in Edinburgh on 31st August: 25 people attended the first Edinburgh MeetUp on Wednesday 31st August. Indeed, the room we had booked was pretty well packed to capacity. People had come from as far away as Inverness, Aberdeen, Dundee and 3 people were from the Newcastle area. [...]
Steve Baker MP: The FED is Very Nearly Bust and it is Probably Not Alone amongst Central Banks
5 September, 2011According to Steve Baker MP, a review of the US Federal Reserve’s own document reveals that the Federal Reserve, the US central bank is very nearly bust. Here is an extract from his article from 1st September 2011: The size of the Fed’s balance sheet is now about $2,843 billion, up from about $800 billion three years ago. The [...]
Striking numbers from UK Debt Statistics
2 September, 2011Here are some striking numbers from UK DEBT Statistics from Credit Action : 9,072 new debt problems dealt with by Citizen Advice Bureaux each working day (as at March 2011) 1,688 people made redundant daily 112 new people became unemployed for more than 12 months every day during the 12 months (to end June 2011). £55,814 average household debt (including mortgages) £176m personal [...]
Vince Cable: Disingenuous Bankers Are Trying to Derail Reforms
31 August, 2011Vince Cable has accused bankers of using the economic turmoil in Europe to try to derail reform of the financial sector, according to Guardian, 31st August 2011 The business secretary said that "louder and louder voices" were being raised among some of the big British banks giving warning that regulatory change in Britain would put [...]
Money Reform on the Streets
29 August, 2011Our supporters in a Newcastle area came out on the streets with our campaign! They started promoting the awareness about our debt based money system for the people who would otherwise maybe not come across to these information. It's a way which may well awaken some new people. Gillian Swanson and Ralph Musgrave had a stall with attractive [...]
Update 24th August 2011
24 August, 2011A lot is happening these days on the field of banking reform, here is to inform you about the most important things: 1) UPCOMING EVENTS & MEETUPS: a) first Edinburgh Meetup - 31st August b) second London Meetup - 15th September c) second Belfast Meetup - 15th September d) Moving Planet Day – [...]
The Banks Still Won't Lend Enough to Small Businesses
24 August, 2011The banks – even those all but owned by us – still won't lend enough to small businesses. They must be forced to do so, according to Guardian 22nd August 2011 How do banks get away with it? Why are the politicians so supine? Even the complaint of business goes unheeded. Banks that brought us to [...]