The Money Chronicle
Follow
Find
21.8K views | +11 today
 
Scooped by Dai
onto The Money Chronicle
Scoop.it!

Note to Italy: Please send us more Saracenos

Note to Italy: Please send us more Saracenos | The Money Chronicle | Scoop.it
By William K.Black (Cross posted at Benzinga.com) I began writing this article while returning from presenting at a conference on Modern Monetary Theory (MMT) in Reggio di Calabria, Italy arranged by Francesco Toscano and supported by the Regione ...
more...
No comment yet.
The Money Chronicle
Issues dealing with money reform and changes to our monetary system
Curated by Dai
Your new post is loading...
Scooped by Dai
Scoop.it!

▶ 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

more...
No comment yet.
Scooped by Dai
Scoop.it!

The Government is Weaning Us Off of Cash

SHOW NOTES AND MP3: https://www.corbettreport.com/?p=17716 Kerry Lutz of FinancialSurvivalNetwork.com joins us today to discuss the war on cash. How long has...
more...
No comment yet.
Scooped by Dai
Scoop.it!

A Letter to Micheal Hudson ~ Mike Norman Economics

A Letter to Micheal Hudson ~ Mike Norman Economics | The Money Chronicle | Scoop.it

I wrote this to Michael Hudson just recently. I thought it would be okay for here. But to start with here's the interview that Stefan Molyneux did with Paul Craig Roberts who totally demolished Stefan’s libertarian arguments.

more...
No comment yet.
Scooped by Dai
Scoop.it!

@MonetaryReform News from the LONDON GLOBAL TABLE February 3rd 2016  12-2 pm

@MonetaryReform News from the LONDON GLOBAL TABLE February 3rd 2016  12-2 pm | The Money Chronicle | Scoop.it

This newsletter is one of Canon Peter Challen's regular email - long standing monetary reformer and organiser of the London Global Table - in the spirit of the Forum for Stable Currencies: MATTERS IN THE AIR: February 3rd 2016: in which all may share...

more...
No comment yet.
Scooped by Dai
Scoop.it!

'Extreme profiteering by corporate greed caused crash' - Joe Higgins presents 'minority report' ahead of Banking Inquiry findings - Independent.ie

'Extreme profiteering by corporate greed caused crash' - Joe Higgins presents 'minority report' ahead of Banking Inquiry findings - Independent.ie | The Money Chronicle | Scoop.it

SOCIALIST TD Joe Higgins has presented his 'minority report' ahead of the publication of the full Banking Inquiry findings this afternoon.

more...
No comment yet.
Scooped by Dai
Scoop.it!

How would you be affected if the Bank of England started issuing digital cash?

How would you be affected if the Bank of England started issuing digital cash? | The Money Chronicle | Scoop.it
Tweet   We’ve just published a new report arguing that the Bank of England should start issuing ‘digital cash’ – essentially an electronic version of the physical notes and coins we use every day.  You can read the summary and download … Continue reading →
more...
No comment yet.
Scooped by Dai
Scoop.it!

Money and Banking Blog – Part 4

Money and Banking Blog – Part 4 | The Money Chronicle | Scoop.it
By Eric Tymoigne

For convenience, I have put the balance sheet of the Fed below. A previous post examined the balance sheet and another one provided important information about the meaning of reserves and other basic concepts and their relation to the b
more...
No comment yet.
Scooped by Dai
Scoop.it!

Announcing the Bank Whistleblowers United Initial Initiatives

Announcing the Bank Whistleblowers United Initial Initiatives | The Money Chronicle | Scoop.it
William K. Black
January 29, 2016     Bloomington, Minnesota
Revised January 30, 2016

I am writing to announce the formation of a new pro bono group and a policy initiative that we hope many of our readers will support and help publicize.  Gary Aguirr
more...
No comment yet.
Scooped by Dai
Scoop.it!

'Osborne selling off assets isn't backed by public'

Fran Boait, executive director of Positive money, spoke to RT UK about George Osborne's plan to sell off RBS & the UK's annual GDP rate. Like what you see? P...

more...
No comment yet.
Scooped by Dai
Scoop.it!

How Central Banks (and Even Keynes) Misled the Public About Banking and Money | naked capitalism

How Central Banks (and Even Keynes) Misled the Public About Banking and Money | naked capitalism | The Money Chronicle | Scoop.it
How and why central bankers and conservative economists created the bogus "fractional reserve" and "debt intermediation" theories of banking
more...
No comment yet.
Scooped by Dai
Scoop.it!

"What is the Future of Europe?" Eurozone and The Americas Conference 2015

The LBJ School of Public Affairs hosted a two-day conference on “The Eurozone and The Americas: Debt and Democracy” on November 2-3, 2015, where European and...

more...
No comment yet.
Scooped by Dai
Scoop.it!

The Swiss referendum on Sovereign Money

In this episode we talk with Emma Dawnay who represents the Swiss Vollgeld initiative. Just like Positive Money in the UK and Ons Geld in The Netherlands, th...

more...
No comment yet.
Scooped by Dai
Scoop.it!

Did Financial Giant Goldman Sachs Just Admit the System is Rigged?

Former financial regulator Bill Black explains why one of world's largest investment firms Goldman Sachs questioning the "efficacy of capitalism" and why its...
more...
No comment yet.
Scooped by Dai
Scoop.it!

The Bank Whistleblowers United – Who are We, and Why are We Trying to Help Implement Real Banking Reform? | naked capitalism

The Bank Whistleblowers United – Who are We, and Why are We Trying to Help Implement Real Banking Reform? | naked capitalism | The Money Chronicle | Scoop.it

The stories of the four whistleblowers who came together to push for bank accountability in the next Administration.

more...
No comment yet.
Scooped by Dai
Scoop.it!

Fiscal Sustainability Conference 2010 (Part 2)

Fiscal Sustainability conference 2010. MMT - Modern Monetary Theory. Part 2 (of 10) Bill Mitchell, Research Professor in Economics and Director of the Centre...

more...
No comment yet.
Scooped by Dai
Scoop.it!

modern monetary theory fundamentalist.Rebranding dissent. Idiot!

A visit to the the new deans office finds a new zeal for MMT, an innocent question or two leads to a diagnosis of opposition defiance disorder blasphemy and ...

more...
No comment yet.
Scooped by Dai
Scoop.it!

Peoples Bank of China Announces their own Digital Currency - Simon Dixon discusses

http://www.simondixon.org/ Simon Dixon discusses the breaking news that did not catch the attention of the monetary reform community. Here was the reaction f...

more...
No comment yet.
Scooped by Dai
Scoop.it!

[518] Steve Keen on debt and the next global recession

Johnson Controls announced on Monday that it would be merging with Tyco International and Russia’s economy contracted at its fastest pace in six years in 201...
more...
No comment yet.
Scooped by Dai
Scoop.it!

The Bank Whistleblowers United – Who are We, and Why are We Trying to Help Implement Real Banking Reform?

The Bank Whistleblowers United – Who are We, and Why are We Trying to Help Implement Real Banking Reform? | The Money Chronicle | Scoop.it
[revised - Michael Winston's bio added]

At this time (January 29, 2016), we consist of four founding members:

Gary Aguirre
William Black
Richard Bowen
Michael Winston

Our bios are listed at the end of this post.  We share a number of common exp
more...
No comment yet.
Scooped by Dai
Scoop.it!

20100428 FS 01 Bill Mitchell pt1 desktop

Fiscal Sustainability conference 2010. MMT - Modern Monetary Theory. Part 1 (of 10) Bill Mitchell, Research Professor in Economics and Director of the Centre...

more...
No comment yet.
Scooped by Dai
Scoop.it!

Three Financial Crimes that Show How the DOJ "Went Easy" on Wall Street

Public Banking Institute's Ellen Brown breaks down Senator Warren's report which highlights how the DOJ and regulators give corporate criminals slaps on the ...
more...
No comment yet.
Scooped by Dai
Scoop.it!

Modern Money Theory - money injection/destruction circuit https://youtu.be/3DGoVHvXFxs

money injection & destruction mechanism of Modern Money Theory (MMT) in diagram a follow up to critics in https://www.youtube.com/watch?v=u71GrY8m0kI...

more...
No comment yet.
Scooped by Dai
Scoop.it!

Modern Monetary Reform and Occupy Toronto

Interview on the Liquid Lunch Program with Hugh Reilly and co-host Sandra Kyrzakos. Social Justice Activists Chris Lambe and Antonin Smith make an appearance...

more...
No comment yet.
Scooped by Dai
Scoop.it!

'Quantitative easing for the people?' - BBC News

'Quantitative easing for the people?' - BBC News | The Money Chronicle | Scoop.it
BBC News talks to "rebel" economist Professor Steve Keen about his theories on global economics.
more...
No comment yet.