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PRESS RELEASE 03 February 2000

New Money for a New Millennium?

The Forum for Stable Currencies aims at Private Members Bills to curtail the power of banks to create money out of nothing. It also influences the FSA legislation as it has reached the Lords. Its programme of discussions addresses a large variety of issues that relate to the creation and supply of money, for this is seen to be the cause of many of society’s problems, in particular of bankruptcies and unemployment.

The programme is supported by Austin Mitchell MP and Lord Ahmed of Rotherham who have personally invited their fellow MP's and Lords to take part.

The speakers have been invited by Lord Sudeley whose ancestor was made bankrupt by Lloyd’s 100 years ago. However, the same principles that led to that tragedy are still in operation today.

Meetings are chaired by Donald Martin who has studied the subject since the fifites.

The purpose of the programme is to raise awareness among Government and Parliamentarians who tend not to have enough time to think about deep and complex structural issues. The aim is the submission of Private Members Bills and to influence Government legislation.

Key principles include:

Money should be the servant not the master of humanity.

The abilities of banks to create money out of nothing must be curtailed.

Governments need to take responsibility for the Money Supply to ensure its Value

The maximisation of personal responsibility.

The group claims that structural problems began with the founding of the Bank of England 300 years ago when the first National Debt was incurred to fight France. Similarly, the Swedish Riksbank created its first National Debt to fight Denmark. Today, every citizen and every Government is in debt to an international banking system that is neither accountable nor under control.

The debates were started in 1998 and have brought together a number of different strands of economic and political thinking, together with Bank Victims and citizens from the whole political spectrum and all religious persuasions.

All religions have strong warnings against usury, the practice of lending money for interest, for both environmental and social reasons, but today only Islam advocates interest-free banking as the road towards a just society.

For further information please call Sabine McNeill on 0171 328 3701

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