What’s so dishonest about our money system?

Let me count the ways: Banks create Credit from thin air and dare to ‘sell’ it for ‘interest’, when they could provide an honest service. Governments borrow and pay interest and dare to charge us taxes, when they could issue interest-free Cash into the economy. “Credit” created by banks (and other financial institutions) from thin [...]

Five Alternatives to the Federal Reserve: why the sun will still rise without the Federal Reserve system

This article is a neat summary of alternatives to ‘debt based’ money, created ‘from thin air’, and unscrupulously ‘sold’ as ‘money’, as if it were Cash, minted by Nation States, when, in fact, it comes from private bank(st)ers.  

Mervyn King: prevent fractional reserve banking to address the divergence between private benefits and social costs

On Monday, 25 October 2010, Mervyn King, the Governor of the Bank of England, gave this 25-page speech in New York City, at The Buttonwood Gathering: Fixing Finance. This Gathering was organised by The Economist and cost $3,495. The speech covered: Introduction – the importance of a resilient and robust banking system The practice of [...]

Quantitative Easing: the BoE explains and I comment

Quantitative easing explained the American way on a 6-minute video. First, I contributed to quantitave easing on Wikipedia. Now, Ask the Deputy Governor offers the following 16 questions addressed to the Bank of England with their answers. Aware of the Bank of England Act 1694, I comment not as an economist, but from the perspective [...]

Credit where Credit is due

This excellently and superbly written article by the author of Web of Debt, Dr. Ellen Brown has the subtitle “The Direct Approach to Fixing the Credit Crisis”. It illustrates not only the difference between private and public banks but also highlights the international bank of central banks as the culprit: the Bank of International Settlements [...]