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The Money Chronicle
Issues dealing with money reform and changes to our monetary system
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▶ Money creation in the modern economy - Quarterly Bulletin article - YouTube

For the Bulletin article on money creation, see: www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf Film...
Dai's insight:

“Most money in the modern economy is in the form of bank deposits, which are created by commercial banks themselves…  When a bank makes a loan to one of its customers it simply credits the customer’s account with a higher deposit balance. At that instant, new money is created…”

 

the relationship between reserves and loans typically operates in the reverse way to that described in some economics textbooks. Banks first decide how much to lend depending on the profitable lending opportunities available to them…It is these lending decisions that determine how many bank deposits are created by the banking system. The amount of bank deposits in turn influences how much central bank money banks want to hold in reserve (to meet withdrawals by the public, make payments to other banks, or meet regulatory liquidity requirements), which is then, in normal times, supplied on demand by the Bank of England

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Warren Mosler on Modern Monetary Theory

Warren Mosler on Modern Monetary Theory | The Money Chronicle | Scoop.it
Thought I'd share this video of Warren Mosler being interviewed by Marshall Auerback on Modern Monetary Theory. If you don't know who Warren Mosler is, you should!
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Jamie Dimon: U.S. Must Create a “Safe Harbor” Where JPM’s Corruption Is Not “Punished”

Jamie Dimon: U.S. Must Create a “Safe Harbor” Where JPM’s Corruption Is Not “Punished” | The Money Chronicle | Scoop.it
Jamie Dimon: U.S. Must Create a “Safe Harbor” Where JPM’s Corruption Is Not “Punished”
By William K.
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▶ The Financialization of Life (3/5) - YouTube

Costas Lapavitsas speaks to an audience at The Real News about how finance controls the global economy
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About Us

Tweet   Our current financial system has left us with the highest personal debt in history, unaffordable housing, worsening inequality, high unemployment and banks that are subsidised and underwritten with taxpayers’ money.
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▶ What if everybody got free cash? Myths and facts about Unconditional Basic Income - YouTube

▶ What if everybody got free cash? Myths and facts about Unconditional Basic Income - YouTube | The Money Chronicle | Scoop.it
What if everybody received every month enough money to live by? Will society collapse? Will we all become slackers? Myths and facts about Unconditional Basic...
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▶ The Financialization of Life (2/5) - YouTube

Costas Lapavitsas speaks to an audience at The Real News about how finance controls the global economy
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A Breakthrough Plan To Make Central Banking Populist | For Economic Justice

A Breakthrough Plan To Make Central Banking Populist | For Economic Justice | The Money Chronicle | Scoop.it
Today’s Jobs Report And The Cult Of Central Banking: Counting Angels On The Head Of A Pin While Main Street Flounders Print Less But Transfer More––Why Central Banks Should Give Money Directly To The People Central Banks’ Bubble Bursting, Sending Markets Down Worldwide Amend The Federal Reserve: We Need A Central Bank That […]
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The Importance of the Frontier, II: Politics Follows Power

The Importance of the Frontier, II: Politics Follows Power | The Money Chronicle | Scoop.it
As we noted in yesterday’s posting, quoting Daniel Webster, “Power naturally and necessarily follows property.”  Not surprisingly, then, politics naturally and necessarily follows power, which follows property, so that people who have property are...
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Modern Monetary Theory and the Law - YouTube

Sheffield University hosted a seminar on the implications of Modern Monetary Theory for the law. This is my contribution.
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Can We Stop Another Global Economic Crash? - YouTube

Dr. Stephanie Kelton, University of Missouri - Kansas City / The Levy Economics Institute joins Thom Hartmann. A volatile couple of days on Wall Street is gi...
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▶ SR 332 - Italy May Dump Euro - YouTube

A referendum has been proposed by Italian politician Beppe Grillo to remove Italy from the Euro and return it to the Italian Lira.
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Sovereign Money Creation: Paving the Way for a Sustainable Recovery

Sovereign Money Creation: Paving the Way for a Sustainable Recovery | The Money Chronicle | Scoop.it
Tweet Ever since that crisis, the Government and Bank of England have tried to encourage further consumer borrowing via further lending by banks. As former FSA chairman Lord Turner put it, this was a “hair of the dog” strategy for economic recovery, treating the cause … Continue reading →
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What do Labour MPs know about money?

What do Labour MPs know about money? | The Money Chronicle | Scoop.it
So far more that 1800 people have emailed their MPs about our Dodds poll which revealed that 7 out of 10 MPs think that only the government and create new money; and, only 1 out of 10 MPs know that … Continue reading → The post What do Labour MPs...
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--The EU: World's most evil parent starves her children

--The EU: World's most evil parent starves her children | The Money Chronicle | Scoop.it
Twitter: @rodgermitchell; Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell Mitchell’s laws: ●Liberals think the purpose of government is to protect the poor and powerless from the rich...
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How the Rocket Scientists Aided the Senior Fraudulent Bank Officers

How the Rocket Scientists Aided the Senior Fraudulent Bank Officers | The Money Chronicle | Scoop.it
How the Rocket Scientists Aided the Senior Fraudulent Bank Officers
By William K.
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▶ James Corbett Breaks The Set on The Federal Reserve - YouTube

James Corbett appears on "Breaking The Set" with Abby Martin to discuss his documentary film, "Century of Enslavement: The History of the Federal Reserve." J...
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Piketty's prophecy comes true: The planet's middle class is rapidly going extinct - Salon

Piketty's prophecy comes true: The planet's middle class is rapidly going extinct - Salon | The Money Chronicle | Scoop.it
New research reveals the superrich have grabbed half the world's resources -- and their wealth is only growing
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Print Less But Transfer More––Why Central Banks Should Give Money Directly To The People

Print Less But Transfer More––Why Central Banks Should Give Money Directly To The People | The Money Chronicle | Scoop.it
In the September/October issue of Foreign Affairs, Mark Blyth and Eric Lonergan write:
In the decades following World War II, Japan’s economy grew so quickly and for so long that experts came to describe it as nothing short of miraculous.
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Amend The Federal Reserve: We Need A Central Bank That Serves Main Street | For Economic Justice

Amend The Federal Reserve: We Need A Central Bank That Serves Main Street | For Economic Justice | The Money Chronicle | Scoop.it
Bernanke Says Federal Reserve Is 'Focused On Main Street' Who Controls The Money? An Unelected, Unaccountable Central Bank Of The World Secretly Does The Federal Reserve Bank System Needs Reform Changing Role Of The Federal Reserve
Dai's insight:

“Confessions of a Quantitative Easer,” in which Huszar says that QE was always intended to serve Wall Street, not Main Street.  Huszar’s assignment at the Fed was to manage the purchase of $1.25 trillion in mortgages with dollars created on a computer screen. He says he resigned when he realized that the real purpose of the policy was to drive up the prices of the banks’ holdings of debt instruments, to provide the banks with trillions of dollars at zero cost with which to lend and speculate, and to provide the banks with “fat commissions from brokering most of the Fed’s QE transactions.”

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The Importance of the Frontier, I: Power Follows Property

The Importance of the Frontier, I: Power Follows Property | The Money Chronicle | Scoop.it
Recently we received an e-mail from one of our readers who was concerned about the moral decay of society.  Specifically, he was concerned about how the United States Supreme Court keeps making decisions that are in clear conflict with humanity’s...
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Ilargi: 40% of Eurozone Banks Are In Bad Shape

Ilargi:  40% of Eurozone Banks Are In Bad Shape | The Money Chronicle | Scoop.it
Yves here. While investors remain fixed on how much more the Fed and the ECB will pump into financial assets via QE, Eurozone banks lumber on in their walking wounded state.
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▶ The Financialization of Life - YouTube

Costas Lapavitsas speaks to an audience at The Real News about how finance controls the global economy
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▶ Ben Dyson - Why Our Monetary System Is Broken and How It Can Be Fixed - YouTube

▶ Ben Dyson - Why Our Monetary System Is Broken and How It Can Be Fixed - YouTube | The Money Chronicle | Scoop.it
Ben Dyson from the organization Positive Money talk at the Economy, People and Planet conference 2014 arranged by the danish organization Omstilling Nu (Tran...
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