Category Archives: National debt

WE DEMAND that the British Government Issues through its Treasury Debt-Free and Interest-Free Money – as it did in 1914!

13 07 03 Bradbury LogoThe Bradbury Pound in 1914 is the model for what more and more people are waking up to:

  1. banks create ‘money’ from thin air as Credit and charge interest for it;
  2. central banks lend it to governments – at interest – as national or public debt – as ‘public spending borrowing requirement’;
  3. governments have gradually handed over their monetary sovereignty and seignorage to the City;
  4. the myths surrounding money are being perpetuated by teaching institutions such as the London School of Economics which does not teach what ‘money’ is or who has the power to create it and how:
  • the difference between interest-free Cash and interest-bearing Credit.

This ‘Writ of Mandamus‘ is a fresh approach to get the Government to act in the public interest (not just pay lip service).

It deserves support in any shape and form!

We demand that the British Government issues through its Treasury debt-free and interest-free money

……..as it did in 1914!

Overview of our country’s current ‘debt’ situation: Continue reading

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OVERT MONETARY FINANCING or ‘Helicopter Money’ Policies – Lord Turner is waking up?


Anatole Kaletsky
writes about the 46-page speech that Lord Turner, Chairman of Britain’s Financial Services Authority gave at the Cass Business School on 6th February 2013.

Positive Money writes Adair Turner tumbles to the merits of a Positive Money idea.

In 2008, I had been advised by a human rights lawyer to ‘go for Parliamentary scrutiny via the Treasury Select Committee‘. Since the Treasury Select Committee had just announced their inquiry into climate change, we submitted Green Credit for Green Purposes.

Since 2002, Austin Mitchell MP has been tabling Early Day Motions to address exactly this: ‘overt monetary financing’ – but under a different label: public credit.

You can really tell from this speech how “the Religion of Money” has won over the Lost Science of Money, as men struggle with: whom to follow and whether to be for or against the ‘current consent’:-

  • a virtually surefire method of stimulating economy activity exists today and that politicians and central bankers can no longer treat it as taboo: ‘newly created money should be handed out to the citizens or governments;
  • distribute free money to end deep recessions;
  • quantitative easing for the people;
  • overt monetary financing (OMF) or “helicopter money” as ‘permanent monetisation of government debt and ‘extreme option’ in ‘extreme circumstances’.

Strangely, Lord Turner associates ‘inflationary risks’ and ‘printing money’ with Germany: the Bundesbank, Goethe’s Faust and the devil itself: Mephistopheles. Continue reading

Public Sector Debts and their Absurdity

 

English: HM Treasury Crest

English: HM Treasury Crest (Photo credit: Wikipedia)

Social Credit is the antithesis to Public Debts.

The Absurdity of the National Debt was already published by the then Duke of Bedford in 1947 but didn’t make a difference.

To the contrary: the dependency of Governmental budgets on Public Sector Borrowing Requirements (PSBR) kept increasing over the decades. In other words: Governments continue to sanction public debts for vested interest payments.

This chart published by the Economic Research Council shows the absurdity in nowadays terms, covering 2010 – 2060 in five different population scenarios.

Budgets 1999 - 2012

This chart covers the past years since 1999, when HM Treasury started to publish budgets in a similar way every year.

“Interesting” how the interest costs rose above the defence costs in the 2008 crisis when ‘other’ costs began the ‘austerity cuts’…

The difference that the national debt makes is the amount of vested interest payments!

UK Uncut: the cuts are necessary? The cuts are fair? We are all in this together???

The UK Uncut initiative is a wonderful expression of the Signs of Our Times:

  • it began with a Twitter hashtag #ukuncut
  • what manifested as a sit-in of 70 people in a Vodafone store in London
  • and spread across the country in no uncertain way.

Spread the word, join in actions, or at least smile!

One Good Cut instead!!!

With thanks to Inquiring Minds.

Repudiate This Lie of a Debt!

This is an excellent article that brings together a few important strands of thought:

  1. references to Congressman Ron Paul‘s positive and negative inititatives and limited understanding of the monetary system
  2. a superb quotation from Thomas Edison about the fact that the Nation should print ALL its money; his original article can be found here
  3. a most positive critique of Abraham Lincoln‘s greenbacks in the London Times
  4. a three-point action list for national governments:
  • repudiate this lie of a national or public debt
  • quit selling interest bearing government bonds on the people’s credit
  • print bills on the credit and spend or give them into circulation in the proper amount “to move trade enough to prevent stagnation but not enough to permit speculation”. (Thomas Edison)

See our Early Day Motion “Using the Public Credit”: the first of our list of Early Day Motions since 2002.

And see Green Credit for Green Purposes – our submission to the Treasury Select Committee in 2007.

Video: How to Fix the 2010 Depression

This video is a superb little summary. Directed by former newspaper editor and publisher Bill Still who produced the classic Money Masters, this short video puts together the quotations from a few key people.

Public Debts as the Root Cause of Unsustainable Economies

This article is my answer to the invitation by Will Sharp, editor of Left Foot Forward. He asked for less than 500 words:

An economy describes activities that people perform to make a living through money. However, the fundamental difference between Cash and Credit are rarely the object of enquiry among economists. In fact, the daughter of Ellen Brown, author of The Web of Debt, wanted to write her PhD on money creation. But she was told by a professor at the London School Economics that “this is not capitalism”.

The strength of capitalism is not capital. It is the passive income that is generated through interest payments and the control over those who are forced to make such payments. It happens to individuals thanks to loan sharks and landlords. It happens to companies thanks to banks and other institutions. And it happens to nation states. That is least understood; possibly because when dealing with big numbers and enter a state of glazing rather than thinking.

Continue reading