#monetaryreform — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #monetaryreform, aggregated by home.social.
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Online at https://monreform.org/kumhof-money-without-debt/, previously the area of @PositiveMoneyUK
Michael Kumhof, no longer at Bank of England: "study accountancy, because the details of budgets and balance sheets matter" in implementing #MonetaryReform, a #CDBC etc.
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The "maladjustment" by William Waite
https://substack.com/home/post/p-162912919
Quote:
'There is an alternative. Where there is a shortfall of consumer purchasing power it could be made up with steady and measured credit injections directly to the public. This would render the old system obselete. No longer would new investment be required solely to distribute money for consumption. There would also be a reduction in the need for consumer and government debt. The monopoly of credit would be broken, its power distributed and decentralised.
Easy fix. That doesn’t mean we’re going to even talk about it. The monopoly of credit is nothing if not tenacious and people remain mostly blind to the irrationalities of debt-economics and full employment. Politics is reluctant to lead where the public is unprepared to follow.'
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Eliminating the debt is easy enough:
'The proposal, therefore, is that the Government should issue the necessary money to the banks in exchange for the borrowers' collateral, so that henceforth these borrowers owe, not the banks, but the nation which, not the banks, has supplied the goods. They can then repay their debts without destroying the nation's currency and making it impossible for them to find the money to pay. For as the loans fall due and are repaid, the Government should put the money back into circulation (or into the pound-for-pound deposits of cheque users) by buying with it National Debt securities and destroying them. Thus an equivalent of interest-bearing National Debt would be destroyed for the non-interest bearing National Debt that is money.'
Frederick Soddy, The Role of Money, pages 68-9.
It isn't done because it serves as an excuse to cut social spending.
Chris Floyd: The God That Failed.
http://www.srilankaguardian.org/2008/10/god-that-failed.html
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With automation and AI replacing men in production, we're going to need a new means of providing income to the general public.
My preferred solution is the National Dividend that my late friend, Mr. Charles Pinwill discussed here:
https://youtu.be/qCaWN3grPyw?feature=shared
For those preferring a shorter video, see:
The National Dividend and Leisure.
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How the Central Bank decides the fate of a government:
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Typical MMT gatekeeping, to preclude radical (and wiser) options such as:
'The proposal, therefore, is that the Government should issue the necessary money to the banks in exchange for the borrowers' collateral, so that henceforth these borrowers owe, not the banks, but the nation which, not the banks, has supplied the goods. They can then repay their debts without destroying the nation's currency and making it impossible for them to find the money to pay. For as the loans fall due and are repaid, the Government should put the money back into circulation (or into the pound-for-pound deposits of cheque users) by buying with it National Debt securities and destroying them. Thus an equivalent of interest-bearing National Debt would be destroyed for the non-interest bearing National Debt that is money.'
Frederick Soddy, The Role of Money.
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Frederick Soddy provided an elegant solution nearly a century ago:
'The proposal, therefore, is that the Government should issue the necessary money to the banks in exchange for the borrowers' collateral, so that henceforth these borrowers owe, not the banks, but the nation which, not the banks, has supplied the goods. They can then repay their debts without destroying the nation's currency and making it impossible for them to find the money to pay. For as the loans fall due and are repaid, the Government should put the money back into circulation (or into the pound-for-pound deposits of cheque users) by buying with it National Debt securities and destroying them. Thus an equivalent of interest-bearing National Debt would be destroyed for the non-interest bearing National Debt that is money.'
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See:
Why Is There So Much Debt?
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This video should be compulsory viewing whenever the subject of National Debt comes up:
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"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks."
― Lord Acton
Good to know which side the Republicans are on.😏
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@AspenProposal This problem was identified over a century ago and the following solution proposed:
The National Dividend and Leisure
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A summary of Douglas Social Credit:
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A summary of Douglas Social Credit:
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Debt and Inequality
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#debt #economics #monetaryreform #socialcredit
Lecture from 1999, part 5 of 5.
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#debt #economics #monetaryreform #socialcredit
Lecture from 1999, part 5 of 5.
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#debt #economics #monetaryreform #socialcredit
Lecture from 1999, part 4 of 5.
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#debt #economics #monetaryreform #socialcredit
Lecture from 1999, part 4 of 5.
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#debt #economics #monetaryreform #socialcredit
Lecture from 1999, part 3 of 5.
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#debt #economics #monetaryreform #socialcredit
Lecture from 1999, part 3 of 5.
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#debt #economics #monetaryreform #socialcredit
Lecture from 1999, part 2 of 5.
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#debt #economics #monetaryreform #socialcredit
Lecture from 1999, part 2 of 5.
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#debt #economics #monetaryreform #socialcredit
Lecture from 1999.
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#debt #economics #monetaryreform #socialcredit
Lecture from 1999.