2000

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September 2000

Dear Colleague,

Thirteen well attended meetings took place during the second year of the Forum for Stable Currencies, and I have pleasure in enclosing the new programme.  I am especially grateful to everybody who expressed their support so far and I hope to see you on Thursday, October 5th at 6pm in Committee Room 4B.

The Forum serves mainly as an excellent opportunity for informing yourself.  Briefing Materials on the subject matter abound.  This year’s programme presents again the very best speakers on the weaknesses of our monetary and banking system: experts on both debt and equity.

The fact that a re-examination of the fundamentals of our monetary and banking system is not on the political agenda is of great concern to those debating in the Forum.  It is nevertheless its intention to assist in the drafting of Private Members Bills and to provide input to the new Economics Committee, after a submission has been made to the Select Committee of the Monetary Policy Committee of the Bank of England.

The fuel crisis informs us that people are now examining more critically the system of taxation.  They no longer trust their governments to have the people’s best interests in mind.  We may now have the opportunity to more accurately inform people about the nature of our current monetary and banking system and how it serves everything but the best interests of the people.

If this country has lived without revolutions, it is largely due to the tradition of this House which has ensured continuity while more immediate concerns on a short term basis are covered by the other place.  But even there Early Day Motions relating to the behaviour of banks have been mounting.  We have to ask ourselves if, finally, the time is ripe to create a healthier and socially more responsible monetary and banking system, and, if so, what we in this House can do to ensure - as we have always striven to – the best for every citizen.

We start the third year of the Forum for Stable Currencies on October 5th with another critical examination of the banking system by Canadian John Tomlinson, author of Honest Money and former stock broker.  The updated title of his talk is now “Why is it necessary to maintain public confidence in the banking system?”  He will argue that the reason is because there is nothing within the banking system about which to be confident and he will present factual data to support his claim.

I have always found his talks interesting and informative and I hope you will be able to join me in this House for our opening meeting.

Yours sincerely,

Lord Ahmed

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