The Growth of Monetary Reform
Responses to a World in Crisis
Parliamentary Year, Forum meetings concentrate on three topics:
mechanisms for life-long indebtedness
community efforts for sustainable
globalisation as the topic of
Life-long indebtedness begins with student
loans that take 17 years to repay, continues with mortgages that are
paid back up to 4 times, and ends with pensions that are devalued through
inflation and are at risk due to mismanagement.
Banks create money as
interest-bearing credit (97% of the total money supply) and the State borrows
money as National Debt. Instead,
the Government could make use of its right to create money interest-free (M0)
and use the ‘Seigniorage’ mechanism to increase the money supply for public
services such as education and health.
LETS (Local Exchange Trade Systems)
and TIMEBANKS are the community model for creating money as interest-free
accountancy units. They
record transactions between people who agree the value between them.
Commercial barter companies do the same for businesses, but take
around 7% commission in cash and the motive is profit.
The world-wide common currency in clearinghouses for inter-trading is time.
Oct 24: Interest- and
Inflation-Free Money – Prof. Dr. Margrit Kennedy
An exchange medium that works for everybody and protects the earth
Prof. Dr. Kennedy discovered that
it is virtually impossible to carry out sound ecological concepts without
fundamentally altering the debt-based money system. Tonight she will offer her extensive experience and research
at the beginning of her world tour. The
title of her talk is the same as her book that has been translated into 12
languages since it first was printed: how money works, how it causes the global
problems we are facing and the solutions that people are finding.
She works as an architect, urban planner and professor for ecological
building techniques in Hannover, Germany. She
starts her world tour in London, together with her husband Declan who gives
public talks on the progress of ecological villages world-wide.
Nov 21: Public
Government Spending and Interest-Free Banking –
Public spending in excess of
public revenue does not necessarily
mean a public borrowing requirement. If the government spent money into
circulation rather than leaving it to commercial banks to create, it would not
only make more public capital projects possible but it would also make the
economic system far more stable. This is because the money supply would not
disappear when a worried public ceased to borrow for consumption and businesses
ceased to borrow to invest. The looming global depression will be exacerbated by
a sharp decline in the money stock, rather than moderated by there still being a
lot of money about. Douthwaite
will also discuss the role that money created on the basis of debt plays in
generating the growth compulsion of the current economic system and the extent
to which interest-free banking would reduce this.
Richard Douthwaite is an economist
and writer who has published The Growth Illusion, The Ecology of Money, Short
Circuit. He lives in the West of Ireland and has co-founded FEASTA the Foundation
for the Economics of Sustainability, which is currently developing plans for
an interest-free bank.
Dec 12: Monetary Reform is Party Policy in New
Zealand where Democrats are Convinced Reformers and Part of the Alliance
Jan 24: Hillingdon £s and Cuppa Vouchers – David
The Local Currency
Solution to Global Money Shortage
David Williams was the first officer employed by a local
authority (Hounslow) to put LETS into place as an anti-poverty mechanism for
Debate on Financial Supervision
with MEPs, MPs and Representatives of the Supervisory Powers – Keith Whincup
Mar 14: CurrencyWales.com – A Proposal for Economic
Self-Determination for the People of Wales – Eluned Hurn
“The Parliamentary Process needs to make
certain that the Money Supply
Money should be the servant
not the master of humanity.
Banks’ abilities to create money
out of nothing must be curtailed.
ISSUE: DEBT- and INTEREST-FREE CURRENCIES
EURO perpetuates the
money supply as interest-bearing debt.
Land, Labour and Capital
Monetary Reform groups
pop up everywhere. The range of
interests is wide and the issues vary from ethical investment and social
credit to green taxes and barter for the third sector.
Canon Peter Challen, Chairman of the Christian Council for Monetary
Justice has compiled over eighty agencies who come together to learn and
understand, study and analyse, educate and promote and generally share their
concerns for a better future thanks to a better money system.
Public Confidence has
still faith in the Parliamentary Process and Labour’s Third Way despite the
tacit contract between governments and banks that continues to affect citizens
detrimentally. The House of
Lords’ Select Committee’s Inquiry into the Global Economy gives
reason to hope that ever improving dialogues between State and Citizens will
prevent what people are increasingly afraid of.
Executive Summary from
the Submission of Evidence to the Select Committee’s Inquiry in the Global
Open Money is
required for an ‘open and integrated economy’.
Globalisation should be called dollarisation or economic
imperialism. It is the world-wide creation of the ‘need’ for dollars
through debt. It is also the
territorial proliferation of international banking practices to supply national
currency to finance national governments and trans-national corporations to