Tuesday, 10 November 2009
Would you consider signing a petition I created on the Downing Street e-petition website? The wording is
"We the undersigned petition the Prime Minister to make the Bank of England the sole creator of money in our economy and to stop the commercial banks from creating money."
and you can find it at
http://petitions.number10.gov.uk/Money-creation/
and my explanatory note to go with it reads:
At present we allow commercial banks the huge privilege of creating money out of nothing as their own property for their own benefit. You and I can’t do it. Why let the banks do it? They do it by issuing loans of money which didn't exist until the borrower signs a promise to pay it back. Then the bank sells that agreement to a dealer for real money up front. We don't need to depend on banks for our nation's money supply. Let’s make the Bank of England, acting as a public servant, the sole creator of new money in our land. Then our money would be an asset of the nation as a whole not the property of commercial banks. This practice caused the credit crunch. Banks lent to people who couldn't repay because it wasn’t costing them much in the first place. It's why bankers get bonuses. The problem isn't bonuses. It’s the activity that the bonuses encourage ie getting people to borrow. Don't nationalise the banks. Let them compete but don’t let them create money out of nothing as they do now.
"We the undersigned petition the Prime Minister to make the Bank of England the sole creator of money in our economy and to stop the commercial banks from creating money."
and you can find it at
http://petitions.number10.gov.uk/Money-creation/
and my explanatory note to go with it reads:
At present we allow commercial banks the huge privilege of creating money out of nothing as their own property for their own benefit. You and I can’t do it. Why let the banks do it? They do it by issuing loans of money which didn't exist until the borrower signs a promise to pay it back. Then the bank sells that agreement to a dealer for real money up front. We don't need to depend on banks for our nation's money supply. Let’s make the Bank of England, acting as a public servant, the sole creator of new money in our land. Then our money would be an asset of the nation as a whole not the property of commercial banks. This practice caused the credit crunch. Banks lent to people who couldn't repay because it wasn’t costing them much in the first place. It's why bankers get bonuses. The problem isn't bonuses. It’s the activity that the bonuses encourage ie getting people to borrow. Don't nationalise the banks. Let them compete but don’t let them create money out of nothing as they do now.
Wednesday, 4 November 2009
getting organised
I have been off the streets in the last few days getting a bit more organised at home.
Friday, 30 October 2009
Friday 30th Oct
I had a good day today in town with my planet on top of a pole. I bump into old friends from Birmingham Children's Hospital and elsewhere. Met about ten old friend today I would say including two who remembered my 1986 fast on a cage for 46 days for the imprisoned Christian Russian poetess Irina Ratushinskaya who was released some months lated when Reagan and Gorbachev met in Iceland. (I am never quite sure how to spell Reykjavik!) I was pleased with myself today because I was on site outside the exit of Snow Hill Station Birmingham at 7.30am and had distributed 1600 leaflets by 3.10 pm. I have 50,000 in all to give out so it will take some time! i am hoping that people will start taking some for friends. I met all sorts of interesting people including one possible parliamentary candidate for the Common Good party. The applied psychology of handing out leaflets in interesting. I like the place outside the SH station as people can see me for about 50 yards before getting to me. When there's a whoosh of people lots go by without really engaging. There are too many to catch the eye of all. Nevertheless I reckon that lots of people see me and eventually they might tumble to what I am saying if they see it on the web or on TV or in the press.
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