Green Credit for Green Purposes was our proposal to the Treasury Select Committee in 2008 – ‘to do it electronically’.
But on 7 Aug 1914 the Private Secretary to the Chancellor of the Exchequer did it on paper: John Bradbury signed the Bradbury Pound – instead of borrowing money from private investors for the Government.
Justin R G Walker talks about it to Brian Gerrish of UK Column on this video and mentions the ‘credit of the Nation’.
Austin Mitchell MP has been tabling Early Day Motions along the Public Credit since 2002. It sounds so simple and yet is so profound: Continue reading
Posted in Bank of England, Central Banks, Fractional reserve banking, Money, Money supply, Public Credit Petition, Treasury Select Committee, United Kingdom
Tagged Austin Mitchell, Bradbury, Bradbury Pound, Brian Gerrish, Central Bank, Cyprus, Early Day Motion, Government, government debt, Greenback, John Bradbury, Treasury Select Committee, Twitter, United States, William Franklin
This petition to save the canal properties of Waterways stirred me to put as succinctly as possible why the National or Public Debt has reached its most heinous peak of abusing “public” for private enrichment. The sell-off of “Government assets” is in the news: BBC, Mail Online, the Telegraph and more.
The National or “Public” Debt in a Nutshell
A Mechanism for the Oppression of Their Majesties’ Subjects
The first National Debt of £1.2 million at 8% interest was created with the Bank of England Act 1694 – when the Corporation was founded with the intention not to oppress Their Majesties’ subjects. See Enforcement of Bank of England Act 1694.
This graph shows the exponential rise of the debt (red) in £ billion and the percentage of GDP (blue).
During history, the National Debt was at times annulled, because it was not repayable.
The national debt between 1855 and 2002, published by the Debt Management Office, has unfortunately not been accessible since it was downloaded.