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Obama Admin. Fails to Prosecute Banking Fraud to 'Save the System'

James S. Henry commenting on PBS documentary "The Untouchables": If one of these institutions was indicted and made an example of, it would have a profound a...
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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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Central Bank Digital Currencies: A Revolution in Banking? | Global Research - Centre for Research on Globalization

Central Bank Digital Currencies: A Revolution in Banking? | Global Research - Centre for Research on Globalization | The Money Chronicle | Scoop.it


[print]

Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse).

But Ben Broadbent, Deputy Governor of the Bank of England, puts a more positive spin on it. He says Central Bank Digital Currencies could supplant the money now created by private banks through “fractional reserve” lending – and that means 97% of the circulating money supply. Rather than outlawing bank-created money, as money reformers have long urged, fractional reserve banking could be made obsolete simply by attrition, preempted by a better mousetrap. The need for negative interest rates could also be eliminated, by giving the central bank more direct tools for stimulating the economy.
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Saving Illinois from Bankruptcy: Getting More Bang for the State’s Bucks | Global Research - Centre for Research on Globalization

Saving Illinois from Bankruptcy: Getting More Bang for the State’s Bucks | Global Research - Centre for Research on Globalization | The Money Chronicle | Scoop.it
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Is a crisis looming for central banks?

http://www.positivemoney.org/ On 18th July we held our biggest ever event in parliament in collaboration with the think tank New City Agenda. The topic wa
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Modern Monetary Theory workshop at the Green Party Annual National Meeting, Newark, NJ

Steve Grumbine of Real Progressives gives a workshop on Modern Monetary Theory to attendees at the July 2017 Green Party Annual National Meeting. Sign-u
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Can the UK afford to end austerity? (Fran Boait, Positive Money, on SkyNews)

http://www.positivemoney.org/ Fran Boait, Positive Money's director, discussing the need of austerity on SkyNews on 2nd July 2017
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Britain To Begin Banning Cash In Favor Of Digital Currency

Britain To Begin Banning Cash In Favor Of Digital Currency | The Money Chronicle | Scoop.it
A credit card giant has vowed to completely eradicate cash in Britain by forcing shops and restaurants to only accept digital currency. 
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Thoughts on Binary Economics and the work of Louis Kelso? • r/AskEconomics

Thoughts on Binary Economics and the work of Louis Kelso? • r/AskEconomics | The Money Chronicle | Scoop.it
Binary Economics is a brand of economic thought born mostly out of the mind of Louis Keslo. According to Wikipedia, > The aim o
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New paper calls for digital cash implementation in the Eurozone

New paper calls for digital cash implementation in the Eurozone | The Money Chronicle | Scoop.it
Tweet Today, the Dutch NGO Ons Geld (“Our Money”), published a thought-provoking paper outlining how a digital cash scheme – a virtual euro – could fundamentally improve the money system in the Eurozone. Ons Geld is the Dutch counterpart of Positive Money … Continue reading →
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97% Owned - Positive Money Cut

Watch the sequel: 97% owned present serious research and verifiable evidence on our economic and . To join the campaign to democratise money see Watch th
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Reframing Marx through Modern Monetary Theory with Nathan Tankus of the Modern Money Network

Reframing Marx through Modern Monetary Theory with Nathan Tankus of the Modern Money Network
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The end of cash? Cards now account for more than half of retail purchases, BRC finds

The end of cash? Cards now account for more than half of retail purchases, BRC finds | The Money Chronicle | Scoop.it
The prospect of a cashless society moved a step closer after cards were used for more than half of retail purchases in the UK for the first time last year and debit cards finally surpassed physical money to become the most popular payment method.
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Green Modern Monetary Theory and Practice

I've just noticed Louisa Connors and Bill Mitchell's paper on Framing Modern Monetary Theory has recently been published in the Journal o
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Reinventing Banking: From Russia to Iceland to Ecuador | Global Research - Centre for Research on Globalization

Public Banking Initiatives in Iceland, Ireland and the UK

A major concern with stripping private banks of the power to create money as deposits when they make loans is that it will seriously reduce the availability of credit in an already sluggish economy. One solution is to make the banks, or some of them, public institutions. They would still be creating money when they made loans, but it would be as agents of the government; and the profits would be available for public use, on the model of the US Bank of North Dakota and the German Sparkassen (public savings banks).

In Ireland, three political parties – Sinn Fein, the Green Party and Renua Ireland (a new party) — are now supporting initiatives for a network of local publicly-owned banks on the Sparkassen model. In the UK, the New Economy Foundation (NEF) is proposing that the failed Royal Bank of Scotland be transformed into a network of public interest banks on that model. And in Iceland, public banking is part of the platform of a new political party called the Dawn Party.
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Who Owns The Federal Reserve? | Global Research - Centre for Research on Globalization

Who Owns The Federal Reserve? | Global Research - Centre for Research on Globalization | The Money Chronicle | Scoop.it
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EU To Seize Bank Accounts Amid New World Order Crackdown

EU To Seize Bank Accounts Amid New World Order Crackdown | The Money Chronicle | Scoop.it
The European Union is about to pass a new law that will allow governments to freeze people's bank accounts in order to prevent bank runs.
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Monetary Sovereigns, Monetary Subjects: Modern Money & The Criminal Legal System | naked capitalism

On the connection between money, and in particular monetary sovereignity, and the criminal justice system.
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Why MMT and our Nation Require a Federal Job Guarantee with Ellis Winningham

Why MMT and our Nation Require a Federal Job Guarantee
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Monetary Reform Proposals | Lucas M. Engelhardt

Watch LIVE! Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground fo
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New Rules for Banks: "Honest Bankers Please Step Forward"

Former financial regulator Bill Black offers bankers a challenge: Step forward if you support the new rule issued by The Consumer Financial Protectio
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stephanie kelton sectoral balance chart - Google Search

1 2 3 4 5 6 7 8 9 10 Next Advanced searchGoogle Images Home Help Send feedback Google Home Advertising Programmes Business Solutions Privacy Terms About Google...
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Alarming data casts grave doubt on the sustainability of the UK’s economic growth

Alarming data casts grave doubt on the sustainability of the UK’s economic growth | The Money Chronicle | Scoop.it
Tweet UK households are saving less than they ever have. The latest ONS data puts the UK household saving rate at just 1.7% in the first quarter of 2017 – the lowest rate since records began in 1963: Source: ONS … Continue reading →
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MMT and Real Progressives bring about straight talk that forces people to check themselves

MMT and Real Progressives bring about straight talk that forces people to check what they thought they knew at the door... And that makes some people los
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Who are Positive Money?

http://www.positivemoney.org/ Who are Positive Money? See in this short video from the Positive Money 2014 conference. Positive Money is a movement t
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"Tories found £1bn for DUP" professor on public sector cap

"How did they find £1bn for Democratic Unionist Party​? They can make money out of nothing" professor of economics Steve Keen explains how Conservatives
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Chuck Willer

Economist Stephanie Kelton on Twitter: "Ossoff promised to "stand up for dynamic, forward-looking fiscally responsible economic policy." "Time t
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