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Positive Money » Change Money, Change the World! – Newcastle ...

Positive Money » Change Money, Change the World! – Newcastle ... | The Money Chronicle | Scoop.it
When money drives almost all activity on the planet, is it not essential that we understand it? And yet few of us, including policy makers, economists and journalists truly understand how our monetary system works.
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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...
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“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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Out of the Darkness: Can a reformed financial system solve the world’s biggest problems?

http://www.positivemoney.org/ On 18th September 2017 Positive Money hosted a panel debate featuring FT’s Chief Economics Commentator Martin Wolf, th
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9/26 The Debt Crisis is a Myth & Modern Monetary Theory w/ Stephanie Kelton | The Majority Report with Sam Seder

9/26 The Debt Crisis is a Myth & Modern Monetary Theory w/ Stephanie Kelton | The Majority Report with Sam Seder | The Money Chronicle | Scoop.it
Steve Mnuchin reflects on lying to Americans about pushing for a large tax break for the wealthy. Stephanie Kelton (@StephanieKelton), a Professor of economics and public policy at Stoney Brooke University, explains the Bretton Woods system.
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MMT: school of thought or set of personalities? - Philosophy of Money

MMT: school of thought or set of personalities? - Philosophy of Money | The Money Chronicle | Scoop.it
MMT revisited Simon Wren-Lewis’s recent post on why MMT is so popular makes a number of important points. The Twitter response to Simon’s post was fairly representative – to its credit, MMT has a committed community of online followers. I have written on MMT before, and have learnt a lot from online discussions with advocates, …
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MMT's Michael Hudson Explains The Debt Deflation Era We Live In. update

MMT's Michael Hudson Explains The Debt Deflation Era We Live In. update. Peter Schiff believes in socialism for the 1% so he can speculate with othe
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Reframing Marx through Modern Monetary Theory with Nathan Tankus of the Modern Money Netwo

Nathan Tankus speaks to Steven Grumbine of Real Progressives. Original video from which this was made at: . Reframing Marx through Modern Monetary Theor
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Bill Still, producer of The Money Masters, talks money reform and recent events in Iceland

Bill Stills Channel: Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is . THE MONEY MASTERS is a historical documentary that
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The Moral Imperative of Monetary Reform - Rev. Delman Coates

Rev. Delman Coates speaking at the 13th Annual AMI Monetary Reform Conference in Chicago on September 16, 2017. He spoke about the moral imperative o
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Modern Monetary Theory Fits the Fed, Government Like a Glove

Modern Monetary Theory Fits the Fed, Government Like a Glove | The Money Chronicle | Scoop.it
Jason Hartman and Mike Norman discuss the Modern Monetary Theory (MMT), a theory that places a good deal of belief and trust in the government and the central
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About Us

About Us | The Money Chronicle | Scoop.it
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. We believe that these problems have a common root: … Continue reading →
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Is Gold The Biggest Fraud In History?

Gold has been used as a form of currency for thousands of years, and even today is a huge part of the world economy due to how stable the gold market is
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David Graeber: debt and what the government doesn't want you to know | Comment is Free

There is one taboo of economics that the government is hiding from the public, argues David Graeber: it is the fact that if the government balances it
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Reinventing Banking: From Russia to Iceland to Ecuador | Global Research - Centre for Research on Globalization

Public Banking Initiatives in Iceland, Ireland and the UK

A major concern with stripping private banks of the power to create money as deposits when they make loans is that it will seriously reduce the availability of credit in an already sluggish economy. One solution is to make the banks, or some of them, public institutions. They would still be creating money when they made loans, but it would be as agents of the government; and the profits would be available for public use, on the model of the US Bank of North Dakota and the German Sparkassen (public savings banks).

In Ireland, three political parties – Sinn Fein, the Green Party and Renua Ireland (a new party) — are now supporting initiatives for a network of local publicly-owned banks on the Sparkassen model. In the UK, the New Economy Foundation (NEF) is proposing that the failed Royal Bank of Scotland be transformed into a network of public interest banks on that model. And in Iceland, public banking is part of the platform of a new political party called the Dawn Party.
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Positive Money UK

Positive Money UK | The Money Chronicle | Scoop.it
The Bank of England's depiction of inequality data is dangerously misleading.
Details here: http://positivemoney.org/2017/10/boe-inequality-data-misleading/
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Ep 11 The Deficits Racket Part I: Single Payer Propaganda War

Stream Ep 11 The Deficits Racket Part I: Single Payer Propaganda War by Citations Needed Podcast from desktop or your mobile device
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Consequences of the current money system

Consequences of the current money system | The Money Chronicle | Scoop.it
The current monetary system results in a wide array of negative social, environmental and economic consequences: high house prices, high public and private debts, inequality, the environment, and democracy, periodic booms & busts, and occasionally financial crises, depressions and even debt...
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Deficit Owls - YouTube

Deficit Owls - YouTube | The Money Chronicle | Scoop.it
Citizens supporting Modern Monetary Theory (MMT), with the goal of educating the public on the need for policies promoting full employment and pric
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Positive Money Retreat 2017 (Jim)

http://www.positivemoney.org/ Every year Positive Money leaders of today and tomorrow come together for a weekend of sharing ideas, skills and stories – fo
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10-6-17 Nicole Sandler Show - Explaining MMT with Stephanie Kelton

After a look at the day's news, Nicole welcomes Stephanie Kelton back to the show. Stephanie is a professor of public policy and economics at Stony Broo
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Stephanie Kelton: Modern Monetary Theory | The Majority Report with Sam Seder

Stephanie Kelton: Modern Monetary Theory | The Majority Report with Sam Seder | The Money Chronicle | Scoop.it
Stephanie Kelton: Modern Monetary Theory Posted on September 26, 2017 by Good morning, Majority report listeners. On today’s show Stephanie Kelton (@StephanieKelton), Professor of Economics at the Stoney Brooke University, joins us to discuss Modern Monetary Theory.
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Green Modern Monetary Theory and Practice

I am so pleased to see this that I am sharing it before I have even had time to watch it.
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UK Household Debt has Reached Unsustainable Levels

Consumer and student debt in the UK have reached unprecedented levels and are a warning that austerity could lead to a new financial crisis, explains Edwar
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Out of the Darkness: Can a reformed financial system solve the world’s biggest problems?

http://www.positivemoney.org/ On 18th September 2017 Positive Money hosted a panel debate featuring FT’s Chief Economics Commentator Martin Wolf, th
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Goldman Sachs Warns Of Coming Financial Crash

Goldman Sachs Warns Of Coming Financial Crash | The Money Chronicle | Scoop.it
the average length of a ‘bull market,’ in which asset prices rise, is just over 5 years, the current bull market has been going for 8 ½ years.
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Central Bank Digital Currencies: A Revolution in Banking? | Global Research - Centre for Research on Globalization

Central Bank Digital Currencies: A Revolution in Banking? | Global Research - Centre for Research on Globalization | The Money Chronicle | Scoop.it


[print]

Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse).

But Ben Broadbent, Deputy Governor of the Bank of England, puts a more positive spin on it. He says Central Bank Digital Currencies could supplant the money now created by private banks through “fractional reserve” lending – and that means 97% of the circulating money supply. Rather than outlawing bank-created money, as money reformers have long urged, fractional reserve banking could be made obsolete simply by attrition, preempted by a better mousetrap. The need for negative interest rates could also be eliminated, by giving the central bank more direct tools for stimulating the economy.
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