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The Cure for Europe: A Public option for Money and A public Bank - OpEdNews

The Cure for Europe: A Public option for Money and A public Bank - OpEdNews | The Money Chronicle | Scoop.it
OpEdNewsThe Cure for Europe: A Public option for Money and A public BankOpEdNewsI recently had this exchange with Warren Mosler, one of the co-founders of the Modern Monetary Theory Movement: SB: Is it possible for Euroland NOT to implode if they...
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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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▶ SR 346 - Money Creation Debate 5 - "Tested to Destruction" - YouTube

▶ SR 346 - Money Creation Debate 5 - "Tested to Destruction" - YouTube | The Money Chronicle | Scoop.it
Nothing will change until the current system is tested to destruction.
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The Just Third Way: Some Notes on Discounting Acceptances

The Just Third Way: Some Notes on Discounting Acceptances | The Money Chronicle | Scoop.it

When someone offers a bill of exchange and it is accepted in settlement of a debt, it is then called an acceptance.  The process is called discounting because the bill always passes as money at its present value, which is almost always a discount. The first offer and acceptance is always called discounting.  Any subsequent offer and acceptance of the same bill is called rediscounting.

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Joseph Stiglitz: Economics Must Address Wealth and Income Inequality

Joseph Stiglitz: Economics Must Address Wealth and Income Inequality | The Money Chronicle | Scoop.it
Yves here. This interview with Joesph Stiglitz is pretty subversive for a talk with a Serious Economist.
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The Technology Solution to the Democracy Crisis

The Technology Solution to the Democracy Crisis | The Money Chronicle | Scoop.it
The Technology Solution to the Democracy Crisis By Joe Firestone The spectacular intrusion of special interests into the passage of the $1.1 trillion government spending bill on December 13, 2014 was breathtaking as bankers and lobbyists whipped...
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Home - International Movement for Monetary Reform

Home - International Movement for Monetary Reform | The Money Chronicle | Scoop.it
Changing the way money is created to serve society We are a coalition of organisations and people from across the world, campaigning to change the way money is created. Search the map to find the movement for monetary reform in your country. Or find out how to be part of a new movement in your country.
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--Why morality is an economics issue

--Why morality is an economics issue | The Money Chronicle | Scoop.it
Twitter: @rodgermitchell; Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell Mitchell’s laws: ●Those, who do not understand the differences between Monetary Sovereignty and monetary non-...
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Coppola Comment: Krugman, Bowman and the monetary financing of governments

Coppola Comment: Krugman, Bowman and the monetary financing of governments | The Money Chronicle | Scoop.it
Coppola Comment: Krugman, Bowman and the monetary financing of governments http://t.co/AvcYHXSrMb worth a read re Modern Money Theory
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Renting In The US Is Now Twice As Expensive As Buying

Renting In The US Is Now Twice As Expensive As Buying | The Money Chronicle | Scoop.it
On December 16, 2014, Emily Heftier writes on Business Insider:
As rent soars across the US, Zillow found that renting a home is half as affordable as buying one.
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--Monetary Sovereignty: The key to understanding economics

--Monetary Sovereignty: The key to understanding economics | The Money Chronicle | Scoop.it
Because a Monetarily Sovereign nation has the unlimited ability to create its sovereign currency, that nation needs neither to tax nor to borrow. Why would it?

To pay its bills, the government sends instructions (not dollars) to creditors’ banks, instructing the banks to increase the dollar amount in creditors’ checking accounts. These instructions are in the form of checks or wires.

At the moment the bank obeys those instructions, dollars are created, and the money supply is increased. This is how the federal government creates dollars — not by “printing,” but by sending instructions.
Dai's insight:

Because a Monetarily Sovereign nation has the unlimited ability to create its sovereign currency, that nation needs neither to tax nor to borrow. Why would it?

 

To pay its bills, the government sends instructions (not dollars) to creditors’ banks, instructing the banks to increase the dollar amount in creditors’ checking accounts. These instructions are in the form of checks or wires.

 

At the moment the bank obeys those instructions, dollars are created, and the money supply is increased. This is how the federal government creates dollars — not by “printing,” but by sending instructions.

 

Despite an astounding 3,500% increase in debt since 1971, we are not anywhere near the point where deficits cause uncontrollable inflation (which is controlled via interest rates). As of this writing, we are fighting deflation.

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Students - Positive Money

Students - Positive Money | The Money Chronicle | Scoop.it
Tweet “The way monetary economics and banking is taught in many – maybe most – universities is very misleading.” Professor David Miles, Monetary Policy Committee, Bank of England Universities often teach ideas about money and banking that have been...
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▶ The True View of Nature of Money (1948) - YouTube

▶ The True View of Nature of Money (1948) - YouTube | The Money Chronicle | Scoop.it
This is my 501st post. lol. I'm grateful for everyone who's followed. [...] A credit redeems a debt and nothing else does, unless in virtue of a special stat...
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▶ Elizabeth Warren Rages Against Executive Branch - YouTube

"Sen. Elizabeth Warren failed to stop a change in bank regulations last weekend, but she raised her profile yet again. The Massachusetts Democrat tells NPR t...
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The College Trap That Keeps People Poor

The College Trap That Keeps People Poor | The Money Chronicle | Scoop.it
On December 15, 2014, Jim Tankersley writes in The Washington Post:
The odds are stacked against low-income Americans seeking the education they need to move up.
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U.S. Wealth Gap Hits Record High

U.S. Wealth Gap Hits Record High | The Money Chronicle | Scoop.it
On December 17, 2014, Maxwell Strachan writes on The Huffington Post: Never in the 30 years since the the Federal Reserve first starting collecting wealth data has the divide between the rich and everyone else been so large, according to a new...
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Obama Imports and Immunizes Banksters Who Donate to the Democratic Party

Obama Imports and Immunizes Banksters Who Donate to the Democratic Party | The Money Chronicle | Scoop.it
Obama Imports and Immunizes Banksters Who Donate to the Democratic Party
By William K.
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Ellen Brown, Gar Alperovitz, Public Banking In America

Public Banking Institute President, Ellen Brown, opens the first Public Banking In America Conference in Philadelphia on April 27, 2012, followed by keynote ...
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Obama Imports and Immunizes Banksters Who Donate to the Democratic Party

Obama Imports and Immunizes Banksters Who Donate to the Democratic Party | The Money Chronicle | Scoop.it
Obama Imports and Immunizes Banksters Who Donate to the Democratic Party
By William K.
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Why Bankers Rule the World - It’s the Interest, Stupid! :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

Why Bankers Rule the World - It’s the Interest, Stupid! :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website | The Money Chronicle | Scoop.it
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Full Speed Ahead On Secretive Trade Deal

Full Speed Ahead On Secretive Trade Deal | The Money Chronicle | Scoop.it
On December 17, 2014, David Cay Johnston writes on Aljazeera America: Early next year, after the 114th Congress begins meeting, a new Washington coalition will move quickly to approve the Trans-Pacific Partnership (TPP), a 12-nation trade agreement...
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European Tribune - Community, Politics & Progress.

European Tribune - Community, Politics & Progress. | The Money Chronicle | Scoop.it

Since the beginning of the crisis - and more so since 2010 - Europeans have been looking at the sovereign-banking "vicious circle", tying the dismal fates of States and banks together. This has emerged as a characteristic disease during the euro crisis, and one of the stated objective of the European Banking Union project was precisely to remedy it. The idea was basically to achieve this goal in a twofold way, ex ante and ex post. On one hand, by imposing stronger and harmonised supervisory requirements (e.g. on capital) and by empowering a third-party, independent and hopefully high-quality, supervisor to oversee their fulfillment, thus rebuilding trust in supervision and in the financial sector's health. On the other hand, if a crisis turned out to be unavoidable, the second principle consisted in limiting recourse to taxpayers' money as much as possible therefore preventing doubts about the damage that bank rescue would inflict to the state of public finances.

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--U.K. pols again demand sacrifices from the poor to feed the rich

--U.K. pols again demand sacrifices from the poor to feed the rich | The Money Chronicle | Scoop.it
Twitter: @rodgermitchell; Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell Mitchell’s laws: ●Those, who do not understand the differences between Monetary Sovereignty and monetary non-...
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CORPORATE ACCOUNTABILITY AND WORKPLACE

CORPORATE ACCOUNTABILITY AND WORKPLACE | The Money Chronicle | Scoop.it
On November 30, 2014, Jim Hightower writes on AlterNet:
It’s that time of year—Thanksgiving holiday will be here soon, and we’ll gorge ourselves on good food.
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More On The Talent

More On The Talent | The Money Chronicle | Scoop.it
Very soon now, we’ll start crowdfunding for the national implementation of the Talent in the Netherlands, called the ‘Florijn’.
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