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Money Supply created by Federal Government

2011-04-05 00:01

The former US Treasury analyst Richard C. Cook tells us in this film, part six of six, that money should only be created/born by the Federal US Government through direct spending and lending of money as was done with the Greenbacks from Abraham Lincoln, which has been  the reason why the banksters murdered him.

I personally would prefer that creating new money is not done by the Government but only  the Central Bank  which should be State owned, as in North Dakota,  independent from the Government and controlled by the people by direct elections every five years. If the Government gets the power over the money they could be tempted to missuse it in order to get reelected. The elections for the Central Bank have a controlling function, and I think people will understand that.

 

 

Bank Credit is Money out of Thin Air

2011-04-04 23:30

The former US Treasury analyst Richard C. Cook tells us in this film, part four of six, that all credit given by banks or central banks nowadays i is money made out of thin air, as John Maynard Keynes puts it.

 

 

Ireland Central Bank (CBI) makes its own Euros

2011-03-01 00:00

It's a sensation and the third time a Central Bank (NCB) in the Euro region (EMU) sidesteps the rules and issues it's own money in form of Euros. In case of emergency the Euro-system allows in Article 14.4 of the Statute of the ESCB and the ECB each central bank to make own Euros instead of the ECB, called the Emergency Liquidity Assistance (ELA). The ECB has a veto right if the Governing Council finds, by a majority of two thirds of the votes cast, that ELA interferes with the objectives and tasks of the ESCB.

This veto threat forced Ireland to accept the cruel help conditions from the IMF and ECB in the end of 2010.

The costs and liabilities arising from ELA support are not pooled or shared by the other members of the Eurosystem.

One of the big problems with the Euro is that the countries loose the power to issue their own money when it is needed, and the need comes up in all nations because the lack of money for the interest payments. If they keep to the rules they have to ask for a loan from the ECB, IMF or private banks. But they lost the possibility to make their own Euros because the ECB wants the total controll how much Euros are circulating. The consequence is that a nation really can get bankrupt because they lost the possibility to make their own money.

So it is historical that the Central Bank of Ireland doesn't give a damn about the crazy rules (they acceptet inadequate collateral) and acts as it should act right from the beginning: issuing it's own money. Congratulations to the peopble in Ireland beeing responsible for that. I hope other countries will follow. The problem is of course that ELA speeds up the inflation of the Euro.

Read the article in the Irish Indipendent.

Other intresting article in Nama Wine Lake

 

 

Den Vita Skolan i Nationalekonomi

2010-11-16 23:22

Här kan ni ladda ner en kort text på enbart 29 sidor som förklarar hur dagens finanssystem är ett globalt pyramidspel som måste orsaka finanskrisen med matematisk nödvänsighet och hur vi kan rädda oss ur det genom att ändra penningsystemet så att det inte längre är ett pyramidspel utan ett ärligt och människovänligt system:   den vita skolan i nationalekonomi_rev1.1.doc

Dessutom ges en helt ny definition av pengar. De är en motprestation för arbete som accepteras av alla. Därför måste arbete täcka pengarna; inte guld, skuld eller het luft. På så sätt motsvarar penningmängden hela tiden bruttonationalprodukten. Då försvinner inflationen och arbetslösheten automatiskt.

Ett avgörande kriterium i pyramidspelet är den dålda omständigheten att pengar skapas av ingenting genom privata banker. Ja, din husbank producerar pengar efter eget behag. Varifrån tar banken pengarna? Ingenstans ifrån, banken bara trollar fram pengar med några bokföringstriks, utan att ha arbetat för det,utan att någon annan har arbetat för det. Vilket privileg (därför kostar en banklicens=oktroj ca. 50 milj kr) att bara trolla fram pengar ur tomma intet och sedan kräva ränta på det. Kan du inte återbetala  lånet eller räntor så tar banken panten för lånet till sig, t ex din bil eller ditt hem. Du har jobbat för det, banken inte. Ändå har banken rätt att vräka dig och ta ditt hem.

Jag skrev i sommaren 2010 till Riksbanken med en enkel fråga: Stämmer det verkligen att privata banker kan trolla fram pengar ur tomma intet? Riksbanken bekräftade detta. Läs svaret här:  riksbanken svar pdf 8.7.10.eml.pdf

Full sysselsättning ENBART genom bankreform Del 1 from Henning Witte on Vimeo.

Full sysselsättning ENBART genom bankreform Del 2 from Henning Witte on Vimeo.