The Case For Money Reform And The Creation Of Debt Free Money

[Guest mattsta1964]

An excerpt from a speech on money reform

The voice of reason!

Government-created credit, like the coins and notes they issue, would be created as a debt-free input into the economy, spent into circulation via public services, and contribute to a stable, circulating money stock. The monetary reformers have history on their side. In the 1950s and 1960s, the money stock consisted of about 75% bank created money and 25% cash currency, created debt-free. Inflation was lower, growth more stable and debts markedly smaller in comparison to average incomes, and related to GDP. Why should the declining use of cash mean that the difference is made up by bank created money and the debt it entails? Just because the economy needs less cash doesn't mean it needs more debt.

This question was raised by Lord Sudeley in the House of Lords in May 1998. He asked whether the government intended to take any measure to compensate for the loss of debt and interest free money caused by the declining use of cash. The official reply, contained in a statement of masterly evasion and opacity, was "No".

The government issuance of money has always been dismissed as inflationary. But this need not be the case. If sensible restrictions were placed on banks and building societies, the government-issued money supply would be compensated for by curtailing the production of new bank lending. For instance, there could be a limit, and gradual reduction, in the number of times a person is allowed to multiply their annual income as the basis of a mortgage. Since house mortgages support over 60% of the money stock, this could make a dramatic contribution to preventing monetary inflation as well as putting a break on the relentless rise in house prices, which benefits no-one. It would also mean that, over the years, house buying would became a competition based on money people have got, rather than at present, money they haven't got. An entirely new economic agenda is possible, and radically different fiscal conditions would prevail in an economy based on solvency rather than debt. Although this offers a range of government and commercial policy options that amount almost to an economic revolution, it is a reform that can be undertaken gradually, building up the liquidity in an economy and monitoring the effects over a number of years, effectively reversing the recent drift towards ever greater debt.

[Guest Alright Jack]

An excerpt from a speech on money reform

The voice of reason!

Government-created credit, like the coins and notes they issue, would be created as a debt-free input into the economy, spent into circulation via public services, and contribute to a stable, circulating money stock. The monetary reformers have history on their side. In the 1950s and 1960s, the money stock consisted of about 75% bank created money and 25% cash currency, created debt-free. Inflation was lower, growth more stable and debts markedly smaller in comparison to average incomes, and related to GDP. Why should the declining use of cash mean that the difference is made up by bank created money and the debt it entails? Just because the economy needs less cash doesn't mean it needs more debt.

This question was raised by Lord Sudeley in the House of Lords in May 1998. He asked whether the government intended to take any measure to compensate for the loss of debt and interest free money caused by the declining use of cash. The official reply, contained in a statement of masterly evasion and opacity, was "No".

The government issuance of money has always been dismissed as inflationary. But this need not be the case. If sensible restrictions were placed on banks and building societies, the government-issued money supply would be compensated for by curtailing the production of new bank lending. For instance, there could be a limit, and gradual reduction, in the number of times a person is allowed to multiply their annual income as the basis of a mortgage. Since house mortgages support over 60% of the money stock, this could make a dramatic contribution to preventing monetary inflation as well as putting a break on the relentless rise in house prices, which benefits no-one. It would also mean that, over the years, house buying would became a competition based on money people have got, rather than at present, money they haven't got. An entirely new economic agenda is possible, and radically different fiscal conditions would prevail in an economy based on solvency rather than debt. Although this offers a range of government and commercial policy options that amount almost to an economic revolution, it is a reform that can be undertaken gradually, building up the liquidity in an economy and monitoring the effects over a number of years, effectively reversing the recent drift towards ever greater debt.

Yet another pile of ****!

All forms of money substitution are based on corruption and serve no one but the issuer and special interest groups.

In case you missed it the 10000000th time, ONLY GOLD AND SILVER ARE LEGITIMATE MONEY. Everything else is the harbinger of total despotism and corporate fascism. FOR GODS SAKE WHY CAN'T YOU UNDERSTAND THESE SIMPLE IDEAS?

Gold and silver bear no interest, they are valuable intrinsically and not by some government fiat. You do not require legal tender laws when the medium of exchange is that which the market would choose of its own accord. Gold and siver are like any other tangible commodity.

Wake up!!!!

[Guest mattsta1964]

Yet another pile of ****!

All forms of money substitution are based on corruption and serve no one but the issuer and special interest groups.

In case you missed it the 10000000th time, ONLY GOLD AND SILVER ARE LEGITIMATE MONEY. Everything else is the harbinger of total despotism and corporate fascism. FOR GODS SAKE WHY CAN'T YOU UNDERSTAND THESE SIMPLE IDEAS?

Gold and silver bear no interest, they are valuable intrinsically and not by some government fiat. You do not require legal tender laws when the medium of exchange is that which the market would choose of its own accord. Gold and siver are like any other tangible commodity.

Wake up!!!!

You fekkn ****

Whi th fekk do u think you are?

W*nker

Yet another pile of ****!

All forms of money substitution are based on corruption and serve no one but the issuer and special interest groups.

In case you missed it the 10000000th time, ONLY GOLD AND SILVER ARE LEGITIMATE MONEY. Everything else is the harbinger of total despotism and corporate fascism. FOR GODS SAKE WHY CAN'T YOU UNDERSTAND THESE SIMPLE IDEAS?

Gold and silver bear no interest, they are valuable intrinsically and not by some government fiat. You do not require legal tender laws when the medium of exchange is that which the market would choose of its own accord. Gold and siver are like any other tangible commodity.

Wake up!!!!

Are you some kind kind of alchemist?

Do you really think there is enough gold and silver on this f'cked up planet to support the level of economic activity in the world you twit

Grow up!

[Guest Alright Jack]

You fekkn ****

Whi th fekk do u think you are?

W*nker

Are you some kind kind of alchemist?

Do you really think there is enough gold and silver on this f'cked up planet to support the level of economic activity in the world you twit

Grow up!

Firstly, I didn't attack you (whoever you are) I only attacked your deluded brainwashed opinion.

Secondly, who I am is not important.

I will refrain from returning your offensive remarks in the interests of mature debate.

Your statement about there not being enough gold and silver is truly ridiculous. It is basically a continuous medium (one ounce of gold for instance can be pulled into a thread over fifty miles long!)

The fact that gold and silver are genuinely scarce means two things:-

1. Its value is very stable (when central banks don't try to manipulate the paper market)

2. In a few years time when this system implodes precipitated by the collapsing of the dollar standard, people who took action will be very well off whereas deluded sheeple holding opinions similar to your original post will be in a VERY bad way indeed.

[Guest mattsta1964]

Firstly, I didn't attack you (whoever you are) I only attacked your deluded brainwashed opinion.

Secondly, who I am is not important.

I will refrain from returning your offensive remarks in the interests of mature debate.

Your statement about there not being enough gold and silver is truly ridiculous. It is basically a continuous medium (one ounce of gold for instance can be pulled into a thread over fifty miles long!)

The fact that gold and silver are genuinely scarce means two things:-

1. Its value is very stable (when central banks don't try to manipulate the paper market)

2. In a few years time when this system implodes precipitated by the collapsing of the dollar standard, people who took action will be very well off whereas deluded sheeple holding opinions similar to your original post will be in a VERY bad way indeed.

Yeah. People like you will be buying gold that doesn't even exist. Congratulations. If you have bought gold, I hope you've got it under your floorboards and not being looked after by a third party. You might get a shock when you go to collect your non existant stash

[Guest Alright Jack]

Yeah. People like you will be buying gold that doesn't even exist. Congratulations. If you have bought gold, I hope you've got it under your floorboards and not being looked after by a third party. You might get a shock when you go to collect your non existant stash

Where I keep it is my business. Although I have to say, silver is my favorite because late comers like you will be will only be able to afford silver once it's too late and so silver demand will outperform gold.

[Guest mattsta1964]

Where I keep it is my business. Although I have to say, silver is my favorite because late comers like you will be will only be able to afford silver once it's too late and so silver demand will outperform gold.

So you think your stash is going to protect you in the coming fiscal armageddon do you???

You are delusional.

I'm not even gonna waste my precious time pursuing this thread. Goodbye

[Rave]

A shame it got trolled by Alright Spack, your first post was interesting. Cheers.

[BayAreaBear]

For What its Worth

I am in total agreement with Alright Jack.

AND

Given the comments made that refer to paper gold and silver

I have to to say that there I have no doubt about my stock of real gold and silver.

I know where they are.

BAB

[Guest Alright Jack]

It took me a lot of effort, multiple conflicting IDs and a bit of swearing to earn my troll rank but it was worth it.

[Immigrant]

An excerpt from a speech on money reform

Could you tell us please who made the speech, and provide a link if possible?

[Guest Alright Jack]

Could you tell us please who made the speech, and provide a link if possible?

Probably Gordon Brown. He's planning our new currency.

[Guest mattsta1964]

Could you tell us please who made the speech, and provide a link if possible?

visit www.prosperityuk.com and the official Money Reform Party website for interesting links and articles about how the money supply is now exclusively controlled by banks and financial institutions

[Immigrant]

visit www.prosperityuk.com and the official Money Reform Party website for interesting links and articles about how the money supply is now exclusively controlled by banks and financial institutions

Thanks matt. It looks like a fascinating website with lots of interesting links.

[Guest mattsta1964]

Thanks matt. It looks like a fascinating website with lots of interesting links.

97% of all money in circulation in western economies debt money! Worried yet?