Welcome to Sabine's Money Menu!

  1. Next Meetings @ the House of Lords, London

  2. "Public Credit for Public Purposes" - Our Current Campaign

  3. How you Can Participate - Weekly Meetings in London and Email List

  4. Visual Analysis - A Demystification of the Politics of Economics and Finance

Acknowledged by the Attwood Award - October 30th, 2003
at the Birmingham and Midlands Institute

Next Meetings

Wednesday, Feb 25th 2004, Room G – Blackrod’s Entrance – 6pm until 9pm

WINNING the SUPPORT of MPs - for the BENEFIT of the ELECTORATE - Peter Challen, James Gibb Stuart and Alistair McConnachie

Voters and Parliamentarians alike are not very familiar with the mechanisms of creating money and the power of controlling the money supply. The Government's share of the supply (cash and coin) has fallen from 20% to 3% since 1964. This share is interest-free, while the 97% of the money circulating are interest-bearing, created by banks as credit. No wonder that 5 of the top 10 companies on the FTSE 100 are banks. For what does it cost them to create the 'product' that they 'sell'?

The Government's budget equals 40% of all the money in circulation.  This budget includes interest on the National Debt, every year the interest is comparable to the annual cost of education, health or the military. 

While personal and corporate indebtedness is increasing and student fees are to finance higher education, it seems paramount to make voters and MPs more aware of the underlying causes.  To find out how your MP is voting, go to www.publicwhip.org.uk

This evening is the opportunity to spread the word via the network of groups and individuals who have been contributing to Forum meetings since their beginnings in 1998.

The goal is to empower concerned voters to communicate with their MP to at least sign the EDM if not also lobby the Treasury Select Committee. As speakers we have the most effective networkers in our field:

Peter Challen, Chairman of the Christian Council of Monetary Justice, has written and emailed notes of the meetings and hosted weekly meetings of the 'Global Table' to deepen discussions and learning. Out of these impulses he has gathered a remarkable map of related issues and a data base of individuals and organisations.

James Gibb Stuart published The Money Bomb in 1983, produced three other books and a video on monetary reform and convened the annual Bromsgrove Conference since 1997. www.jamesgibbstuart.com says more about Government Debt as one of the causes of many of our financial dilemmas.

Alistair McConnachie publishes the monthly newsletter Prosperity UK and also organises the annual Bromsgove conference which focusses on monetary reform since 1997. Based in Scotland, his contacts are nationwide and international and his newsletter has been an excellent vehicle for outreach to many individuals and organisations who would otherwise never take the issues on board.

 

Thursday, May 6th 2004, Room G – Blackrod’s Entrance – 6pm until 9pm

The SIGNIFICANCE of PUBLICLY CREATED MONEY - Stephen Zarlenga

Comments on Early Day Motion 323 by an American Financial Expert

Stephen Zarlenga is the Director of the American Monetary Institute in Valatie, New York. On December 4, 2003 he addressed senior advisors at the US Treasury, and in May 2004 he will visit London and the UK.

As a member of the New York Futures Exchange he has ample experience in the real world of finance, but has also published some 20 books on money, banking and politics. This includes The Lost Science of Money of over 700 pages which also covers the history of power struggles over money that is privately and publicly created and controlled.  In his address to the US Treasury, he made the following points:

  1. General
    1. The definition of money needs to distinguish between cash and coin as ‘government money’ and credit as ‘bank money’
    2. Publicly created money has a superior historical record
    3. The breakdowns of law and money need to go together because the power to create money is a legal privilege
  2. History of the UK and the US
    1. The Bank of England usurped England’s money power from the Crown in 1694
    2. In the American experience, the battle for monetary dominance has been miscast as irresponsible inflation money
    3. The cause of the American Revolution was the prohibition of issuing colonial legal tender by England’s Lords of Trade and Plantations while the ‘continental currency’ was the lifeblood of the revolution
  3. The US
    1. Private banking started with the first Bank of the U.S.
    2. The second Bank of the U.S. operated illegally and was liquidated
    3. The Government acted responsibly and issued US Treasury notes
    4. For every Greenback created by Congress, the banking system created $1.49 in bank notes
    5. The lesson of the Greenbacks is that not only in times of crisis, the State has the power to do what is financially necessary:

                                                               i.      No begging or borrowing from the wealthy

                                                             ii.      No adding to the national debt

                                                            iii.      No taxation of the middle class

                                                           iv.      No curtailing of public service programmes

  1. US and UK Now
    1. The Nation’s sovereign money power can be used to finance what is beneficial for the Nation: health and education and the infrastructure for transport and communication.

"Public Credit for Public Purposes" - Early Day Motions on Money Creation and Supply

Early Day Motion (EDM) 1515 was tabled by Austin Mitchell MP in 2002 and called for Using the Public Credit to solve problems of the Government’s budget.

EDM 854, entitled Publicly Created Money, was tabled by David Chaytor MP in 2003 and asked for an Inquiry into possible benefits.

EDM 1515 was signed by 24 MPs and EDM 854 had 29 MP signatories by the end of the Parliamentary Session.  These EDMs have thus set signals for understanding the mechanisms of the creation and supply of money in a Parliamentary context.

EDM 323, entitled Public Credit for Public Purposes, was tabled by Austin Mitchell MP on December 17th 2003 and set out with six signatures (now 18). Voters should bring the topic to the attention of their MP and invite Parliamentarians to appreciate the degree to which political life has become an economic or rather financial issue. EDM 323 again invites the Treasury to investigate the benefits of increasing the money supply through ‘publicly created money’.  

Publicly created money is inherently interest-free whereas interest on National Debt constitutes some 22% of taxpayers' money - generally slightly more than the military budget.  http://edm.ais.co.uk/weblink/html/motion.html/ref=323

Who benefits? And how does the exponential growth of compounding interest effect the country's economy when the Government's budget equals some 40% of the nation’s money supply?

How you Can Participate - Weekly Meetings in London and Email Lists

Peter Challen, Chairman of the Christian Council for Monetary Justice, hosts the Global Table at Friends House opposite Euston Station every Wednesday, 11am - 12.45. Everybody is welcome to drop in and join current discussions. He also writes notes of Forum meetings. Please email Peter, if you want to be kept informed.

 

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