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The Eagle

Money Creation Debate In Parliament Thursday 20Th Nov 2014

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Does anybody know more about what's going on here, this sounds very unusual, money creation has always been a taboo subject, especially in parliament:

https://www.positivemoney.org/wp-content/uploads/2014/11/Backbench-Briefing-Note.pdf

As a side note: look at the 'total money in circulation' graph on page 3 of the pdf, does it remind you of something that's on the home page of HPC? What a coincidence... :rolleyes:

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Hmmmm I wonder if they get to the bit where they work out that having fiat money and lots of money creation alows them to run ponzi budget deficits into perpetuity as long as they de-base the pound to balance the books....

This could be a telling moment for HPCers, if they admit they know what they are doing then you can buy an overpriced home today safe in the knowledge you can pay back depreciated pounds at a later date!

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Thanks for posting.

The other day, via an AAV facebook comment, I was surprised to discover a youtube clip from Con->Kipper Douglas Carswell giving a speech about bank/monetary reform.

Here's the link

I never had time to figure out how they buried it - I bet that would be an interesting story.

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Thanks for posting.

The other day, via an AAV facebook comment, I was surprised to discover a youtube clip from Con->Kipper Douglas Carswell giving a speech about bank/monetary reform.

Here's the link

I never had time to figure out how they buried it - I bet that would be an interesting story.

The empty ranks during this speech are sadly very telling...

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Hmmmm I wonder if they get to the bit where they work out that having fiat money and lots of money creation alows them to run ponzi budget deficits into perpetuity as long as they de-base the pound to balance the books....

You mean unlike the present situation where we have almost exponential money creation (just look at the graph on page 3 of the pdf) by out-of-control private banks whichj among other things keeps the whole HPI ponzi alive and allows these private banks to make huge profits out of thin air?

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The empty ranks during this speech are sadly very telling...

The only time the place seems to be full is during PM questions. PM questions is a bit of a punch and Judy show. It's like when there was a fight at school and all the kids would run to watch.

Might be better if they got rid of Westminster and replaced it with a forum like this. Have an MP's area where only they can post and a area where the general public can debate what they are saying

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You mean unlike the present situation where we have almost exponential money creation (just look at the graph on page 3 of the pdf) by out-of-control private banks whichj among other things keeps the whole HPI ponzi alive and allows these private banks to make huge profits out of thin air?

Yes you are correct of course I am talking about the current situation.

I'm just wondering if they understand the current situation bearing in mind they haven't debated it for 170 years.....and in that time the gold standard disappeared.

I'm not really sure the banking sector will ever be allowed to make super normal profits ever again in the country or at least for a generation. So I think it is the public sector employees, mps, scroungers and asset owners who benefit from the current inflationary debt ponzi system more than the banking sector.

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I'm not really sure the banking sector will ever be allowed to make super normal profits ever again in the country or at least for a generation. So I think it is the public sector employees, mps, scroungers and asset owners who benefit from the current inflationary debt ponzi system more than the banking sector.

You do realise that banksters are making more money now than in 2007?

The banking sector is still living it large at the expense of the rest of us, more than ever before.

The only way to stop this is by switching to 100% reserve banking, nothing else will have any significant impact.

(I'm of course talking about City-banksters not normal employees at your local retail bank branch)

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I reported this to the media (Sky news, BBC, newspapers,..) but it was never reported in the news.

Evidently, MP's or the Government paid no attention to it.

Quantitative Easing

Written evidence submitted by Mr. Alan W Kay FCA

1 1. Executive Summary

2 WHERE DID THE BENEFIT OF THE QE MONEY GO?

3 NOBODY KNOWS EXCEPT IT COULD BE ANYWHERE IN THE WORLD!

4 This paper sets out the evidence that Parliament, the Bank of England, its MPC and the Treasury have no idea where the benefit of the Quantitative Easing money actually went. This is because they have no record of the identity or nationality of the actual owners. The Bank bought through agents – Gilt Edged Market Makers (GEMMs).

5 Furthermore, Bank officials appear to have misleadingly asserted to the Treasury Committee that the Bank "injected a vast amount of liquidity into the economy" when they had no idea where the benefit of the liquidity actually went.

6 Despite this lack of knowledge as to who owned the gilts and where the money went, a further £175 billion of QE was allocated by the Coalition for gilt purchases between October 2011 and July 2012. This also happened despite clear evidence from a detailed study of the MPC Minutes that its members had no clear idea either! Indeed, the Treasury, the Bank and the MPC seem never to have asked! Why not?

7 The following specific concerns are addressed in this paper:

http://www.publications.parliament.uk/pa/cm201314/cmselect/cmtreasy/writev/qe/m18.htm

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I reported this to the media (Sky news, BBC, newspapers,..) but it was never reported in the news.

Evidently, MP's or the Government paid no attention to it.

Quantitative Easing

Written evidence submitted by Mr. Alan W Kay FCA

1 1. Executive Summary

2 WHERE DID THE BENEFIT OF THE QE MONEY GO?

3 NOBODY KNOWS EXCEPT IT COULD BE ANYWHERE IN THE WORLD!

4 This paper sets out the evidence that Parliament, the Bank of England, its MPC and the Treasury have no idea where the benefit of the Quantitative Easing money actually went. This is because they have no record of the identity or nationality of the actual owners. The Bank bought through agents – Gilt Edged Market Makers (GEMMs).

5 Furthermore, Bank officials appear to have misleadingly asserted to the Treasury Committee that the Bank "injected a vast amount of liquidity into the economy" when they had no idea where the benefit of the liquidity actually went.

6 Despite this lack of knowledge as to who owned the gilts and where the money went, a further £175 billion of QE was allocated by the Coalition for gilt purchases between October 2011 and July 2012. This also happened despite clear evidence from a detailed study of the MPC Minutes that its members had no clear idea either! Indeed, the Treasury, the Bank and the MPC seem never to have asked! Why not?

7 The following specific concerns are addressed in this paper:

http://www.publications.parliament.uk/pa/cm201314/cmselect/cmtreasy/writev/qe/m18.htm

Perhaps much of it was promptly spent by the sellers of the extant gilts to buy newly issued gilts?

http://www.positivemoney.org/2013/01/some-thoughts-on-qe/

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