Robin Hood Tax to be launched on Wednesday at 0.05am

The Robin Hood Tax is the UK version of the Tobin Tax which was at the beginning of ATTAC in France ten years ago.

As an anti-poverty campaign, it is more pragmatic than the economic theories of Tobin Tax definitions or the political demands of the Attac network.

Supported by a coalition of 48 organisations, the Robin Hood Tax campaign spells out what the income should be spent on.

And in the spirit of our times, it uses Twitter and YouTube.

The video is set to private until the launch which is set to 0.05am in parallel with the 0.05% tax that Robin Hood wants to take.

However, Mervyn King, the Governor of the Bank of England, dismissed the idea of a Tobin Tax only recently, according to the FT.

Of course, this tax doesn’t get to the root of all evils, but at least it’s bound to capture people’s imagination!

A Banking System We Can Trust (!?)

This article is written by two professors of economics at Boston University. Thus it does not address the “fuel” that flows through the economy. It is “watered down” by “credit money” for the benefit of the financial economy, while clogging up all activities of the real economy.

Making people responsible rather than companies is a good beginning and is part of the system that has evolved, mainly by design, relying and influencing human nature such that it is a call to our conscience, no matter where we stand – at the helm or in the wake of capitalist boats…

IMF puts Haiti $102 million in debt

It is supposed to look like a gift. But the strings attached are devious: debt slavery of citizens via the State as an institution.

The IMF announcement is here.

Jubilee USA who alerted me to the news also publishes Resources on Haiti’s Debt.

Ask yourself how Haitians are expected to pay the interests on this debt, let alone the capital…

Why we should know about the National Debt

Every thinking citizen should know about the National Debt. For it has many different effects:

1. the government forces tax payers to produce interest payments
2. only rich individuals and privileged institutions can buy government bonds to benefit from secure interest payments
3. the State abdicates its power to issue its own money (Cash) free of interest
4. the State foregoes the income of Seigniorage that comes with producing Cash
5. the State passes its power to create money to the banks – at the cost of its citizen.

By letting banks create Credit in an uncontrolled fashion, while Cash has been consistently reduced over decades, the State fuels a process of “monetary inflation”. This means the steady growth of the supply of “credit money”, which requires interest and compound interest. People thus have to borrow to make interest payments.

Is that not enough to know about the power of creating money and the politics of controlling the supply of Cash versus the creation  of Credit?

Support Iceland Against the Financial Blackmail of the British and Dutch Governments and the IMF

This document is (for the time being) on Wikileaks. But many NetNews agencies publish the story, e.g. Rense.com and Voltaire.net

Call To The People Of The World
To Support Iceland
Against The Financial Blackmail Of The
British And Dutch Governments And The IMF

By Birgitta Jonsdottir
1-6-10

It has been promoted by creative spirit Birgitta who can be reached via birgitta AT this.is

On “The Ascent of Money”

An American friend once said “any publicity is good, just spell my name right.” After having read this fascinating review The Ascent of Hooey of The Ascent of Money, I also checked on the reviews on Amazon.

They prove what the reviewer writes: the credibility of the author is used to whitewash the status quo!…

World Gold Council is either useless or complicit in gold suppression

The role of gold as the “ultimate money” is hardly understood by politicians and journalists, let alone ordinary voters and taxpayers. As a store of value it is “obvious”, as long as the same bullion is not sold more than once, as described in the article How much imaginary gold has been sold?

The people who do watch it are the professional investors who make money out of money “their way”, by taking personal risks.

It is rather remarkable that and how those investors who specialise in gold and have founded GATA, the Gold Anti-Trust Action Committee, have been showing up flaws that border on fraud!

Here is an excellent article about the World Gold Council.

Money = “Monetary Aggregates”

Who would have thought that there is more to “money” than the Cash in our pockets or the Credit in our bank, credit card or PayPal account?

Canadian Mike Hewitt who publishes DollarDaze has put it into a nice graph, illustrating the variations from medium of exchange to store of value.

My email to letters.editor@ft.com

Sir,

Regarding your letter and comment Common sense and history both suggest a pause in QE and Essential to keep QE available, I am writing as the Organiser of the Forum for Stable Currencies which has been presenting meetings at the House of Lords and Commons since 1998. See our archive site.

I am also writing as a mathematician and systems analyst formerly at CERN, i.e. I have analysed not only the statistics of the Bank of England but also what “money” is and how it is created. Hence I cannot concur with Quantitative easing explained by the FT.

On Money as Debt also Known as Credit, I have published “Quantitative easing” to camouflage “printing credit” which is possibly the best explanation of what QE really is:

• The printing of “money as Credit” by the Bank of England or any other central bank.

The reason why QE can’t work is obvious to me:

• if the Treasury were to supply money, it would be free of interest (M0); therefore “printing money” would work
  • see our submission to the Treasury Select Committee in response to the Stern review Green Credit for Green Purposes and Green Taxation vs Green Funding
• “printing Credit” (M4) can’t work
  • 97% of the money supply consists of Credit
  • nobody creates the interest necessary to pay for Credit

• the Credit share in the total money supply is increased yet more
  • the Cash : Credit ratio gets worse and worse.

Unfortunately, policy seems to be determined by the City and not by Westminster, i.e. the Bank of England and other central banks determine what happens to the global economy. For an excellent overview, you may want to view The Global Financial Crisis by professor of economics Michel Chossudovsky.

Should you be interested in reading more about “economics from a system analytical perspective”, here are a few of my links re quantitative easing:

• Four ways of “net credit creation”
• Quantitative easing for investors abroad
• Quantitative Easing in Wikipedia, or the Politics of Information and Contexts
• Common sense and history both suggest a pause in QE
• Money supply is in the air of the FT.

Since April I am looking after my mum “left of Berlin”. Thus I am now publishing in German what I learned in Westminster: www.NationaleSchulden.eu

Sighingly yours,

Sabine

________

Organiser, Forum for Stable Currencies, advocating Economic Democracy through Freedom from National Debt

Blogging on behalf of Voters and Taxpayers:

– Room 14 – a foundation for change, for victims of our legal and financial system > 300 views

– Enforcement of Bank of England Act 1694, an Early Day Motion for grouping cases of oppression, to change the law > 1.000 views

Petitioning the Treasury Select Committee:

Stop the Crash Crumble to Equalize the Credit Crunch: 226 signatures and > 9,600 page views

Financial Fairness for Voters and Taxpayers, please! 43 signatures and > 2,000 page views

Aiming at Parliamentary Scrutiny via the Treasury Select Committee > 2,100 views

Analysing the system of national currencies and their financial, political and legal institutions:

Money as Debt also known as Credit – blog about our core concerns – with > 9,100 views

Lobbying on- and offline:

In the Spirit of the Forum for Stable Currencies – newsblog with > 15,000 views

Political summary with > 2,800 views

Archive site with > 10,700 views

Promoting another future:

Expanding Dr. Yunus’ Sphere of Influence – Social Business and the Future of Capitalism – with > 23,000 hits

Currently:

Buschower Dorfstr. 16

14715 Märkisch Luch

T: 0049 33876 90166

M UK: 0044 7968 039 141

Common sense and history both suggest a pause in QE

QE means Quantitative Easing. It means Central Banks printing money. But their kind of money is Credit Money, i.e. somebody receives interest payments, and taxpayers pay via the Government’s share in the budget of “public debt interest payments”.

This letter in the FT prompted me to spell it out, once again:

When Governments print money, it’s “Cash Money” which is not only free of interest, but also gives them seigniorage as income.

However, creating money electronically out of thin air would not justify seignorage. But why do Governments hand their power of creating money over to their Central Banks?

Your guess about politicians and central bankers is as good as mine…

My response to Mr George Taferner is this: