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Australian Labour Force data – the fiscal policy sabotage continues

Australian Labour Force data – the fiscal policy sabotage continues | The Money Chronicle | Scoop.it
Yesterday, the third-quarter National Accounts data revealed that real GDP growth is trailing behind the underlying population growth which means that per capita incomes have been falling.
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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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The Middle Class Can’t Be Saved Unless Wall Street Is Tamed

The Middle Class Can’t Be Saved Unless Wall Street Is Tamed | The Money Chronicle | Scoop.it
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On January 27, 2015, Robert Reich writes Truth Dig:
Presidential aspirants in both parties are talking about saving the middle class. But the middle class can’t be saved unless Wall Street is tamed.
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European Central Bank’s QE is a missed opportunity (Letter in the Guardian)

European Central Bank’s QE is a missed opportunity (Letter in the Guardian) | The Money Chronicle | Scoop.it
“The EU financial sector does not need to be eased, there is plenty of liquidity in the banks. Quantitative easing, as practised by the Bank of England and the US Federal Reserve, merely flooded the financial sector with money to the … Continue...
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Why We (Don’t) Need Inflation

Why We (Don’t) Need Inflation | The Money Chronicle | Scoop.it
Yesterday’s Wall Street Journal had an interesting article on how surpluses of basic commodities, while they are bad, can be good for some brave investors (“Rout Signals ‘Buy’ to Some: As Surpluses Grow From Oil to Copper, Investors Risk Pain Now...
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Ben Dyson (Positive Money), Author at Positive Money

Ben Dyson (Positive Money), Author at Positive Money | The Money Chronicle | Scoop.it
RT @zoestavs: Really interesting ideas from Ben Dyson on ways to fix our monetary system @PositiveMoneyUK http://t.co/3tJABPKTn5
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Inequality = Privatisation of the Earth

Inequality = Privatisation of the Earth | The Money Chronicle | Scoop.it
Truthdig summarises the interview as:
Oxfam reports that just 80 people possess the same quantity of wealth as 3.5 billion others.
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Bundesbank's Weidmann casts doubt on effectiveness of ECB's QE - Reuters

Bundesbank's Weidmann casts doubt on effectiveness of ECB's QE - Reuters | The Money Chronicle | Scoop.it
BERLIN (Reuters) - Bundesbank President Jens Weidmann, an unabashed critic of the European Central Bank's quantitative easing (QE), told a German newspaper on Sunday he had doubts about the effectiveness...
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The Simple Mathematical Flaw In Modern Economics

This is instructional. It essentially explains insured, interest-free asset-based credit, which is a core policy reform of the Federal Reserve and Banking System.
 
 
 
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Princes of the Yen (Documentary)

Princes of the Yen (Documentary) | The Money Chronicle | Scoop.it
Queue Politely, the producers of the monetary reform documentary “97% Owned” have produced a new documentary: “Princes of the Yen” is film about the power of central banks and the transformation of the economy, based on the book of the same …...
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The BBC and the Economist Combine to Try to Defeat Syriza

The BBC and the Economist Combine to Try to Defeat Syriza
By William K. Black
Bloomington, MN: January 20, 2015
As the Greek election nears, the mainstream media is ramping up its efforts to attack Syriza.
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How the Banking System Affects Democracy - Positive Money

How the Banking System Affects Democracy - Positive Money | The Money Chronicle | Scoop.it
Tweet 1. We’ve given the power to create money to the banks, with no accountability Banks create money when they make loans, which means that they effectively control where newly created money goes to in the economy.
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Transcript: Stephanie Kelton Interview - Harry Shearer

Transcript: Stephanie Kelton Interview - Harry Shearer | The Money Chronicle | Scoop.it
"So let’s start at the beginning. What’s money?"

`Transcript: Stephanie Kelton Interview
http://t.co/rl2cONBvZZ via @sharethis
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Derek Thompson — Tax Cuts Don't Lead to Economic Growth, a New 65-Year Study Finds

Derek Thompson — Tax Cuts Don't Lead to Economic Growth, a New 65-Year Study Finds | The Money Chronicle | Scoop.it
Analysis of six decades of data found that top tax rates "have had little association with saving, investment, or productivity growth." However, the study found that reductions of capital gains taxes and top marginal rate taxes have led to greater...
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QE for Europe – an Opportunity Lost

QE for Europe – an Opportunity Lost | The Money Chronicle | Scoop.it
The return of quantitative easing, only this time with a European zest, has begged many to question whether the ECB is making the right decision or not.
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Robert Reich Reality Checks GOP’s Absurd Ideas About Addressing Income Inequality

On January 26, 2015, Robert Reich writes on AlterNet:
You have to go pretty far back in history to find a Republican president who brought broad-based prosperity.
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Bill Mitchell — Smart Austerity – its just the same dumb austerity

Bill Mitchell — Smart Austerity – its just the same dumb austerity | The Money Chronicle | Scoop.it
“In its current form, EMU is not viable in the long run”.
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The "Angry Birds" Approach to Understanding Deficits in the Modern Economy

Is the USA really going broke? Are we mortgaging the future of our children because of our reckless, out-of-control government spending? Are we really at the...
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▶ The Simple Mathematical Flaw in Modern Economics - YouTube

WATCH THE IMPROVED VERSION AT https://www.youtube.com/watch?v=HIHCAi1MBBA Most people believe that interest is natural to money. However, the way in which mo...
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Why These 5 Companies Are Laying Off Thousands Of Workers

Why These 5 Companies Are Laying Off Thousands Of Workers | The Money Chronicle | Scoop.it
On January 22, 2015, Brad Tuttle writes on Money:
The economy is on the mend. Unemployment rates are down. So what’s up with all these companies slashing jobs by the thousands?
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Highlights from 2014 – Positive Money campaign

Highlights from 2014 – Positive Money campaign | The Money Chronicle | Scoop.it
Merry Christmas from Positive Money! 2014 has been an eventful year for the Positive Money campaign.
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How to Fix Money and Banking System - Positive Money Proposals

How to Fix Money and Banking System - Positive Money Proposals | The Money Chronicle | Scoop.it
Tweet Sign the petition! Tell the future Prime Minister of the UK that money creation should only be used in the public interest. We need to know your name. Please check your email is valid. not in the UK?
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Interview with Gordon Long on Financial Repression

I was interviewed by Gordon Long for the Financial Repression website last week. The video is below; a brief summary of our discussion is posted on the Financial Repression website and reproduced below.
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Robert Reich on Redefining Full-Time Work, Obamacare, And Employer Benefits

Robert Reich on Redefining Full-Time Work, Obamacare, And Employer Benefits | The Money Chronicle | Scoop.it
On January 21, 2015, Walter Frick writes in the Harvard Business Review:
One of the U.S. Congress’s first acts of 2015? Trying to redefine what counts as full-time work, from 30 hours a week up to 40.
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Co-operative Commonwealth: De-commodifying Land and Money Part 1 | Commons Transition

Co-operative Commonwealth: De-commodifying Land and Money Part 1 | Commons Transition | The Money Chronicle | Scoop.it
PRACTICAL LAND REFORM: CO-OPERATIVE AND MUNICIPAL SUPPORT PAST AND PRESENT http://t.co/taENQpqUe9 #Commons #LocalGov @radicalhousing
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