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OPINION: European Citizens initiative: A historical campaign has born | Basic Income News

OPINION: European Citizens initiative: A historical campaign has born | Basic Income News | The Money Chronicle | Scoop.it
After an unsuccessful first attempt, the European Citizens’ Initiative for Unconditional Basic Income finally got accepted by the European Commission, thus opening the possibility for the organizers from 14 European ...

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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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--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 Lighthouse | Debunking Modern Monetary Theory (MMT) & Understanding it First

The Lighthouse | Debunking Modern Monetary Theory (MMT) & Understanding it First | The Money Chronicle | Scoop.it
QUOTE For anyone interested in #economics in general, especially #deficits, #governmentspending, #MMT and other... http://t.co/fSeUnJ4j1f
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UK Determined to Win the Race to the Bottom and Remain the Global Financial Cesspool

UK Determined to Win the Race to the Bottom and Remain the Global Financial Cesspool | The Money Chronicle | Scoop.it
UK Determined to Win the Race to the Bottom and Remain the Global Financial Cesspool
By William K.
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Bill Still - Public Banking 2013: Funding the New Economy, June 2nd 2013 - YouTube

"The History of Money and Public Banking" Bill Still Writer, Film Producer, Us Presidential Candidate 2012 Libertarian Party Primaries Public Banking 2013 Fu...
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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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Why Software Is Eating The World

Why Software Is Eating The World | The Money Chronicle | Scoop.it
On December 15, 2014, Marc Andreessen writes on Genius: This week, Hewlett-Packard (where I am on the board) announced that it is exploring jettisoning its struggling PC business in favor of investing more heavily in software, where it sees better...
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Russian Pivot | Michael Hudson

Russian Pivot | Michael Hudson | The Money Chronicle | Scoop.it
Prof Michael Hudson on the Russian geo-political pivot, orchestrating strategic relationships with Eurasia, defining neo-con policy failure.
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Occupying the NEED Act | AMI (American Monetary Institute)

Occupying the NEED Act | AMI (American Monetary Institute) | The Money Chronicle | Scoop.it
Rather it is network of privately owned banks, wholly controlled by a handful of Wall Street megabanks: Chase, CitiBank, Bank America and Goldman Sachs. In 1913, the Federal Reserve Act ceded the power to create the ...
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Ha-Joon Chang — Economics Is A Political Argument

Ha-Joon Chang — Economics Is A Political Argument | The Money Chronicle | Scoop.it
Rockin' the boat.Seung-Yoon Lee: One of many things that sets your new book apart from others is that you devote a whole chapter to different schools of thought in economics. Why is that so important?
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Getting What We NEED

Getting What We NEED | The Money Chronicle | Scoop.it
Getting What We NEED By Nick Egnatz   Watch the Youtube video of the Cawthra Park Secondary School Choir opening the song for the Rolling Stones.  The choir starts to sing and is almost completely drowned out by the crowd noise.  Slowly, gradually,...
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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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Inequality and the banking system - Positive Money

Inequality and the banking system - Positive Money | The Money Chronicle | Scoop.it
Tweet Inequality is the major economic, political and cultural evil of our times. In this short article, I want to explore how banks feed inequality in the act of creating our money supply.
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VIDEO: Oireachtas Banking Inquiry officially begins its public hearings this morning

VIDEO: Oireachtas Banking Inquiry officially begins its public hearings this morning | The Money Chronicle | Scoop.it
The Oireachtas Banking Inquiry officially begins its public hearings this morning.
Finnish banking expert Peter Nyberg, and former Canadian civil servant Rob Wright, will be the first public...
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Wall Street banks collect on a debt, as Congress prepares to raise more money

Wall Street banks collect on a debt, as Congress prepares to raise more money | The Money Chronicle | Scoop.it
Congress rolls back Dodd-Frank protections against banking abuses, and vastly increases the amount of money that rich donors can give to political parties. There is a connection.
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Just A Summary | Binary Economics: The New Paradigm By Robert Ashford

JUST A SUMMARY - THE SUMMARY YOUR FAVORITE BOOK =--- Where to buy this book? ISBN: 9780761813217 Book Review of Binary Economics: The New Paradigm by Robert Ashford If you...
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The Basic Income

The Basic Income | The Money Chronicle | Scoop.it
The call for a Basic Income is both old and mounting. Success of the scheme is dependent on funding. If it’s some sort of National Dividend, sharing the bounty of the Commons, it’s necessary.
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▶ A Platform For Monetary Reform - YouTube

--------------Support the Brother Nathanael Foundation!-------------- Donate Here @ https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=Q5ZH...
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The Economy: Does More Government Help or Hurt - Stephanie Kelton only

Presented at the Kansas City Public Library, Plaza Branch on September 16, 2014.
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Dark Money Reform...

Thom Hartmann talks with Lee Fang, Investigative Reporter-The Nation / Republic Report, Website: www.TheNation.com, about how President Obama could remove so...
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Mourning 100 Years of Usury under The Fed

Mourning 100 Years of Usury under The Fed | The Money Chronicle | Scoop.it
Mourning 100 Years of Usury under The Fed By Nick Egnatz   December 23 marks the tragic 100th anniversary of the private Federal Reserve System, when the U.S.
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