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Interview with William K Black at Kilkenomics 2012 Part 1 MMT

Bill explains Modern Monetary Theory, and we talk about TZM, technological unemployment & the gold standard at the end.
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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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Mickanomics: An irritation with MMT'ers

Mickanomics: An irritation with MMT'ers | The Money Chronicle | Scoop.it

The sectoral balance equation gives the *impression* that if the government runs a surplus of $X during one year then the money supply available to the private sector to use must be whatever it was at the start of the year minus $X.

But this is not true. Fractional reserve banking allows the private sector to increase or decrease the money supply independently of whatever the government does. So the *contribution* of the government's policy to the money supply may indeed be -X, but the size of the private sector's money supply could have changed by any amount.

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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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Stiglitz Urges U.S. Overhaul of Unfair Tax Policies

Nobel Prize-winning economist Joseph Stiglitz, a professor at Columbia University, talks about U.S. income inequality and tax policy.
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A Tax System Tilted Toward The Rich––How To Make Taxes Fair Again

A Tax System Tilted Toward The Rich––How To Make Taxes Fair Again | The Money Chronicle | Scoop.it
The tax code started to tilt in the direction of favoring income from investments — or favoring the 1%, if you will — more than 20 years ago.
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Professor Bill Mitchell - Framing Modern Monetary Theory - YouTube

This is an edited version of a presentation made on November 24 2014 at the Università di Roma 3 (Rome Three University). The event was organised by the L'as...
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How the current process of money creation is causing a rise in poverty, instability and inequality (Video) - Positive Money

How the current process of money creation is causing a rise in poverty, instability and inequality (Video) - Positive Money | The Money Chronicle | Scoop.it
Tweet Ben Dyson, founder of Positive Money presenting at Meaning Conference 2014 on 18th November in Brighton. He got into the nitty gritty of how the current process for money creation is causing a rise in poverty, instability and inequality.
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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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Professor Steve Keen warns of coming 'financial crisis' - EveryInvestor

Professor Steve Keen warns of coming 'financial crisis' - EveryInvestor | The Money Chronicle | Scoop.it
Professor Steve Keen is one of the few who accurately predicted there would be a major financial crisis before the 2008 crash. He discusses why the economic ‘recovery’ will be short-lived, house prices and how to curb stock market speculation.
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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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1933 Banking Act - Wikipedia, the free encyclopedia

1933 Banking Act - Wikipedia, the free encyclopedia

The Banking Act of 1933 ( Pub.L. 73-66, 48 Stat. 162, enacted June 16, 1933) was a statute enacted by the United States Congress that established the Federal Deposit Insurance Corporation (FDIC) and imposed various other banking reforms. The entire law is often referred to as the Glass-Steagall Act, after its Congressional sponsors, Senator Carter Glass ( D) of Virginia, and Representative Henry B.

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▶ Princes of the Yen: Central Banks and the Transformation of the Economy - YouTube

“Princes of the Yen” reveals how Japanese society was transformed to suit the agenda and desire of powerful interest groups, and how citizens were kept entir...
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The Guardian: Change to UK's money system could solve our long-term economic problems - Positive Money

The Guardian: Change to UK's money system could solve our long-term economic problems - Positive Money | The Money Chronicle | Scoop.it
Tweet Oh, at long last the monetary reform movement gets a long overdue platform in the Guardian.
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▶ Fractional Reserve Banking... not what the textbooks tell you. - YouTube

Fractional reserve banking explained. This video tells you all about money creation in our widely misunderstood debt based monetary system (often labelled fr...
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Green Party passed a motion to place money creation into public hands and end fractional reserve banking - Positive Money

Green Party passed a motion to place money creation into public hands and end fractional reserve banking - Positive Money | The Money Chronicle | Scoop.it
Tweet The Green Party of England and Wales made history by joining the US Green Party in calling for an end to the private creation of money by banks at their conference (Sept 13-16). After a debate on the motion at … Continue reading →
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Let’s All Screw The 1 Percent: The Simple Move Obama Could Make To Strengthen The Rest Of Us

Let’s All Screw The 1 Percent: The Simple Move Obama Could Make To Strengthen The Rest Of Us | The Money Chronicle | Scoop.it
EnlargeA still from “Titanic” (Credit: Paramount Pictures)
You’re working more hours and not getting paid for them. We can fix that — and put more people to work.
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What is Modern Monetary Theory? - YouTube

Thom Hartmann talks with Dr. Stephanie Kelton, Economist & Chair-Department of Economics University of Missouri-Kansas City / Editor-in-Chief, New Economic P...
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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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Chapter 42 — For a Better Understanding of Social Credit

It is not unusual to hear some people, especially so-called “learned” people, say that money issued by the Government, as proposed by the Social Credit system, would bring about runaway inflation.
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BRICS New Development Bank Threatens Hegemony Of U.S. Dollar - Forbes

BRICS New Development Bank Threatens Hegemony Of U.S. Dollar - Forbes | The Money Chronicle | Scoop.it
BY JORDAN TOTTEN - This year’s BRICS summit marks the establishment of a $100 billion dollar liquidity reserve and a $50 billion New Development Bank in Shanghai.
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What Happens To Society When Robots Replace Workers?

What Happens To Society When Robots Replace Workers? | The Money Chronicle | Scoop.it
On December 10, 2014, William H. Davidow and Michael S.
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BOOM BUST BOOM: MINSKY AT THE MOVIES

BOOM BUST BOOM: MINSKY AT THE MOVIES | The Money Chronicle | Scoop.it
BOOM BUST BOOM: MINSKY AT THE MOVIES
By L. Randall Wray
I highly recommend a movie to be released next year (that is, the year that begins next week). Terry Jones, of Monty Python fame, is one of the key developers of the film.
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▶ Who Is In Charge of Development: The Elite or the Majorities? (1/2) - YouTube

Part 1 of a conversation with UN economist Richard Kozul-Wright on the far-reaching impact of a lecture on the politics of development given by Ecuadorian Pr...
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bank lending down big

bank lending down big | The Money Chronicle | Scoop.it
Banks getting hurt as feared.
Bank Revenues Plummet 17% In October And November According To Citi
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The First Victim Of The Ruble Crisis Offers A Bruce Willis Credit Card

The First Victim Of The Ruble Crisis Offers A Bruce Willis Credit Card | The Money Chronicle | Scoop.it
Trust Bank, a small Russian lender, was bailed out by the country's central bank on Monday. It is the first financial institution to be rescued since the collapse of the ruble, and the only to offe...
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