Call4Reform is a UK-wide campaign to reform the financial system. We have one request – that the power to create money is taken away from profit-making entities (the high street banks), and returned to the state. Doing so would allow us to:
• phase out the national debt, saving £100 million per day in interest costs
• reduce the tax burden by up to 30%, permanently, or increase government services with no increase in taxation
• Save 60% on the cost of public infrastructure projects (such as schools, hospitals and public transport), by removing the need to borrow this money and pay interest over 30 years
In addition, by preventing commercial banks from inflating the money supply by an average of 8% per year we can:
• Significantly reduce the risk of financial crises, such as that of 2007-2009
• Significantly improve the stability of the banking sector, protecting depositors and the taxpayer
• Create a more stable currency and consequently a more stable economy
Until we officially launch you can find a full explanation of the issues involved at BenDyson.com.
We propose that the solution to the current financial crisis is to:
• prevent banks from creating the nation’s money supply (through a few small changes to the rules governing bank accounts)
• restore the right to create the nation’s money to a public agency of the state (the Bank of England under the direction of the Monetary Policy Committee)
• use the newly created money to reduce taxes, fund better public services and reduce the national debt.
These simple changes will withdraw the hidden subsidy that the banking sector has enjoyed for the last few hundred years. The banking sector will then need to generate profits by playing a significant role in the creation of wealth, rather than simply extracting wealth from the rest of the economy by charging interest on 97.5% of the money in existence.
The benefits to the wider economy, businesses and families of the UK far outweigh the costs to the banking sector.
_________________ Currently working on a new website
“Of all the ways of organising banking, the worst is the one we have today” - Mervyn King, Governor of the Bank of England
We can help solve problems like debt, poverty, economic chaos and environmental breakdown just by fixing the way that money and banking works.
What’s the Problem with Money?
There are two big issues that we need to fix when it comes to money:
1. Who creates it, and
2. How it gets into the economy
So Who Creates Money Now?
Under the current system, the power to create money belongs to high street banks like Lloyds, Barclays, HSBC and RBS. In fact, all the numbers in your bank account were created by them, not by the UK government. Hard to believe? Ask Martin Wolf from the Financial Times:
“The essence of the contemporary monetary system is the creation of money, out of nothing, by private banks…”1
How Does This Money Get into the Economy?
Banks create new money (the numbers in your bank account) when they make loans. As the Bank of England says, “When banks make loans they create additional [bank] deposits for those that have borrowed the money.”2 This means that nearly every pound in the economy today was created when somebody went into debt. All the money that we need to trade, to buy food, and to run businesses, must be borrowed from the profit-seeking banking sector, at a huge cost to us, and a massive benefit to them.
How Did This Happen?
Laws that make it illegal for you to print your own £5 or £10 notes have been in place since 1844. But those laws haven’t been updated to account for the fact that almost all money now is electronic. Because of this loophole, banks worldwide now have the power to create money, effectively out of nothing.
How Much of a Benefit Do the Banks Get from Creating Money?
A lot. All together, the current system, where banks are able to create money when they make loans, gives the banking sector a subsidy of around £30bn a year. That means that the average UK taxpayer is subsidising the banks by around £670 a year, or £55 per month.
And How Much of a Cost Do We Pay?
This system works great for the banks, but not so well for us. It’s the reason why:
The average UK adult owes £29,918 (including mortgages) – 126% of the average salary
15% of the average family’s income will be spent on interest on this debt
Government debt now adds up to £32,730 for every worker in the UK, costing every household a further £1,890 in interest each year
In 1960, a house would cost 3.6 times the average yearly wage, in 2010, a house would now cost 9.8 times the average yearly wage.
Banks had to be bailed out by the taxpayer.
And it’s the major (but hidden) contributor to problems like poverty, debt, environmental breakdown, economic instability and a load of other ‘bad things’.
So What Should We Do?
We have simple solutions to these problems – just fix the way banking works and we fix money, and remove some of the root causes of many other social and economic problems.
Find Out More:
1. Find out how money and banking works now
2. Find out how that leads to problems
3. Find out how it could work in the future (our solution)
P.S. Banks can spend millions on lobbying to protect their interests, against our interests. To compete with that, we all need to chip in and make a contribution to help the campaign grow. Please setup a monthly contribution and help make this campaign a success.
Martin Wolf, Financial Times, 9th Nov 2010 [↩]
Bank of England Quarterly Bulletin 2007 Q3, p377 [↩]
Join us in demanding a banking system that works for society and not against it:
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We need to know your postcode so we can let you know about events in your local area. (Not in the UK?)
New invention: IVAMU = Intrinsic Value Added Monetary Unit provides
Answers to Loss of Currency Values World-Wide
A Brand New Currency Invention-- A New Standard for Value of Money
"Divers weights, [and] divers measures, both of them [are] alike an abomination to the LORD." --Proverbs 20:10
"Declare ye among the Nations, and Publish, and set up a Standard; Publish, [and] conceal not:" -- Jeremiah 50:2
IVAMU is a Brand New Currency and CONTAINS real precious metal, such as gold, silver and or platinum. It does not need to be declared as "backed by gold," because this Paper Money contains flat and flexible precious metal--with thickness measured in microns within the currency itself.
Claims of being 'backed by gold' are always suspect due to historical accounts of 'accidental' invention of what is called “fiat money” in which bankers permitted themselves to issue MORE currency than could be "backed by -- gold!" Born of greed and concealed, it worked well for the charging of interest on loaned money until too many people DEMANDED their precious metals be DELIVERED BACK to the rightful owners or depositors. What is about to happen today is a good example. JP Morgan is selling un-backed silver contracts which certainly will result in a coming “Bank Holidays” once the people catch on to the banking and investment SCAM.
Far better, IVAMU Currency *contains those precious metals!
The designer of the concept, Ken Lowndes, says, “Some IVAMU may 'only' contain silver, while larger denomination currencies will contain gold or platinum. Some IVAMU denominations may even contain two or more metals. This answers the problem today of paper currency-backed-by-nothing except more paper.”
He goes on to say, “The CONfidence game is over. We and our future generations will NOT be paying off the wicked Bankers! We will NEVER, EVER be their SLAVES. “
For further information contact:
Ken Lowndes @ 626-358-0108, or @ www.IVAMU.com or SKYPE @ IVAMUConnect
Monopolized Private Central Banks have created enormous problems - (the Federal Reserve is no more "federal" then is Federal Express) - not only of inflation, but also in how it depreciates the quality of human life itself. For instance, in the current economic climate the current bankers indulge in un-resisted temptation to grant "bail-outs," using taxpayers to replace those funds placing world-wide hyper-inflation into high gear. In the process in desperation and in greed, they Murder the hopes of the American people.
Fixing the (any) economy involves two steps:
Do not despair in thinking that fixing an economy can not be done .... it certainly can. Once the problem is properly Identified anyone can easily discover the SOLUTION.
What is the problem?
Fiat Money issued by the Central Banks, which is unregulated and privately issued, is therefore, dishonest money loaned at interest since their money costs them nothing off the printing press at the Bureau of Engraving and Printing.
WHAT IS THE 2-Step SOLUTION?
Remove and or suspend ALL interest FROM the economy, (can roll back inflation by up to 97%, especially within the USA), [SEE: http://www.perfecteconomy.com ] and,
Issue the IVAMU as the New Currency Standard.
"When the enemy shall come in like a flood, the Spirit of the LORD shall lift up a Standard against him".-- Isaiah 59:19
This solution will fix the currency problems for any nation in the world. IVAMU’s precious metals-based currency will then enjoy world-wide acceptance for Standardized Value, no matter at what level it is issued. And, IVAMU Currency isn't "phony" money! No, the IVAMU is all REAL because it contains the precious metal rather than referring to it to be transferred to an account at a later date or different place.
Some Examples of which authorities may Issue this new currency includes:
Private Barter or Script Companies,
Cities, Townships, Counties, and Parishes,
State, Federal or National banks
The IVAMU opens the door for EVERYONE to consider being their own "honest banker," eliminating even the 'perceived need' for one world-wide, monopolistic Centralized Bank's "Reserve Currency."
It defangs “Central Banking” into a neutral clearing house for transactions of “REAL MONEY”, and NOT dishonest “FIAT (Inflation based) MONEY”!
Any currency backed by gold has a major problem. The banksters have purloined most of the gold so they will still have all the wealth and influence that goes with it. Currency does not have to be backed by anything other than confidence that it will keep its value and will be honoured. If governments took back the power to issue currency and made it impossible to counterfeit then that currency would be sound and since no interest would be due it would not inflate. Germany did it in the 1930s and created an economic miracle which had to be crushed by the banksters and duly was. As Libya is being crushed now. The entire world needs urgently to stop the globalisation bandwagon and put an end to the private banking cartel's agenda for a one world currency issued by themselves.
Thursday, September 1, 2011
Globalists to Rebuild Libya
Tony Cartalucci, Contributing Writer
The war is far from over - in fact, Libya's rebels have yet to actually take Tripoli, with entire sections of the city still being contested. Furthermore, entire cities, including Sirte, Bani Waled, and Libya's entire interior still stand completely under the Libyan government's control and have repelled rebels continuously over the last two weeks even with brutal NATO bombings and the expressed desire to purposefully starve their populations into submission. Despite this, the corporate media has committed to an endless mantra of "the victorious rebels" and are focused, however unrealistically, on quickly "rebuilding Libya." Not surprisingly, this "rebuilding" will be done according to Wall Street and London's designs, not those of the Libyan people.
The Atlantic Council, a Fortune 500-funded think tank whose entire existence consists of perpetuating the collective interests of the global corporate-financier elite (including Shell, BP, Chevron, Exxon and a myriad of military industrial corporations), encapsulates the "coached" nature of Libya's rebuilding in an article appropriately titled, "Rebuilding Libya." In the opening sentence, it is conceded, however weaselly worded, that fighting is still ongoing in Tripoli. Additionally, the article, written by Washington insiders, also concedes that the rebels represent "only a spectrum of Cyrenaican (i.e. Eastern Libyan) interests aligned with the NATO countries."
Despite both the rebels' tenuous tactical reality and their non-existent legitimacy, coupled with now open knowledge that their fighters are led by notorious terrorists drawn from the most extreme ranks of Al Qaeda, the Atlantic Council article soldiers on claiming Libya's "immense resource wealth, small population, and ability to attract foreign investment and expertise" will help its prospects for sustainable economic growth. The article takes special care to provide advice on how Western powers can avoid appearing to be engaged in "neo-colonialism" by carefully prodding along the development of this contrived puppet regime using "carrots and sticks." The article also suggests that those serving Qaddafi's government be utilized in building up the rebels' regime to avoid a prolonged power vacuum and the accompanying instability such a vacuum engenders - instability that is already prevalent in the wake of NATO's bombs and the following onslaught of the Benghazi rebels.
Between reading the article and looking at the accompanying picture, with Libya's two arch-traitors Mahmoud Gebril and Mustafa Abdul Jalil flanked by their European sponsors, we get a concrete sense of the very real neo-colonialism taking place. The rebels appear nothing more than an ultra-violent horde of mercenaries led by an ultra-servile leadership unable to make a single decision independently without first groveling in Doha, Paris, Rome, or Washington.
Even as the very architects of the current Libyan war who have planned it literally for decades, call for a NATO occupation force to oversee Libya's reordering, the corporate media is desperate to portray the rebels as the new independent sovereign masters of Libya. To do so, the corporate media has been publishing stories portraying the rebels as "rejecting" calls to extradite alleged Lockerbie bomber Abdelbaset Ali al-Megrahi, as well as "rejecting" the landing of UN troops, even as NATO forces fight side-by-side with them on the ground at this very moment. These PR stunts are as toothless as Egypt's Mohamed ElBaradei's threats to wage war with Israel - threats he has made even as he sits as a trustee within the US International Crisis Group alongside Israeli President Shimon Peres. These stunts are intended purely to prey upon the ignorance and emotions of the uninformed masses and lend contrived legitimacy to these puppet regimes where none exists in reality.
Quite clearly with a regime built upon such deception, with power owed entirely to the hands of foreign powers who prod them along in the shadows, nothing resembling "liberation" has been achieved in Libya. When we consider the chief promoters of this Libyan war and the subsequent "rebuilding" come from the halls of Fortune 500-funded think tanks like the Council on Foreign Relations, the Brookings Institution, and the above-mentioned Atlantic Council, these suspicions are only confirmed. A horrible injustice has been committed in Libya against both the people inflicted by the hordes of rebels following NATO bombardments, as well as against young men duped into taking up the cause of their "liberation" when in reality the only "liberty" to be achieved will be that of foreign banks and corporations to operate unfettered and parasitically in yet another nation.
Beyond feckless puppet politicians like Sarkozy, Obama, and Cameron, who must also pay the price for this crime against humanity, the Atlantic Council, a policy-mill turning out endless support for these egregious crimes, conveniently provides us a list of the corporations sponsoring their activities. Below are the corporations that must be boycotted, replaced locally, and thus put out of business. We have for far too long traded in our freedom and independence to these world-spanning corporations for the empty promise of convenience. In return we have gotten nothing but scandals, theft, and war that have bled our nation dry both financially and quite literally. These are the people to blame, and you can start exacting justice today by systematically boycotting and replacing each and every one of them.
The full list can be found here, including many notorious foundations ubiquitously involved in promoting and advancing Wall Street and London's economic, social, and military hegemony over the planet.
Joined: 11 Nov 2008 Posts: 537 Location: Lancashire
Posted: Fri Sep 09, 2011 11:35 pm Post subject:
Not sure the people moving this pre planned economic 911 are listening :
World Entering 'Dangerous New Phase': Lagarde
By: Catherine Boyle
September 09, 2011 "CNBC" -- Christine Lagarde, the managing director of the International Monetary Fund, warned that the global economy is entering a "dangerous new phase" on Friday, ahead of the G7 summit in Marseilles, France.
She warned that both advanced and emerging economies faced key economic challenges, and that governments must "act now" to stop further contagion.
"Policymakers should stand ready, as needed, to take more action to support the recovery, including through unconventional measures," Lagarde said.
"The world is collectively suffering from a crisis of confidence, in the face of a deteriorating economic outlook and rising concerns about the health of sovereigns and banks."
Her speech at Chatham House in London came after a turbulent week for the markets, with the focus on sovereign debt issues in the euro zone and job creation in the US.
She welcomed President Obama's new $450 billion jobs package, announced Thursday, but added "it remains critical for the United States to clarify its medium term plan."
The British government, including Chancellor of the Exchequer George Osborne, who also spoke, was warned that "risk levels are rising" in the UK and the government needs to have a "heightened readiness to respond."
However, Lagarde conceded that the government's response "remains appropriate."
When Lagarde called for the recapitalization of European banks at the Jackson Hole summit in the United States in August, a flight away from European banks resulted in the markets.
Osborne agreed that the situation is "more complex" than in 2008 but described his government's plan as a "rock of stability".
"The underlying cause is the same – excessive levels of debt," he said.
He backed Tim Geithner, the US Treasury Secretary, who wrote in the Financial Times on Friday that the three most important elements for boosting growth are: strengthening growth in the US, stronger actions in Europe to halt the debt crisis and emerging markets like China allowing their currencies to adjust to market forces.
One of the factors weighing down markets is the perception that the situation is worse than 2008, and that there are fewer policy options available to governments and central banks.
Osborne warned that "nothing would be more damaging" to the British economy than an increase in interest rates.
The Bank of England Thursday held its interest rate unchanged at 0.5 percent, a historic low, which has now been in place for two and a half years.
He also supported greater fiscal and institutional integration in the euro zone.
This stance is fast becoming popular, although there has not been any clear signal as to what greater integration would involve.
Stephen King, chief economist at HSBC, told CNBC.com after the speech on Friday that he believed a "fiscal club" would work for the euro zone.
"Countries that don't stick to the guidelines would have their memberships suspended, and if a country chooses not to sign up, it won't get the benefits other countries do and will be pushed to the edge of the euro zone," he said.
"It will not be a proper member of the euro zone."
"As time goes by, there's a danger of getting worse rather than better."
Friday's G7 meeting will include discussions on the risks facing the economy at the moment.
The changing landscape in the Middle East and North Africa following the Arab Spring, and how more advanced economies can help the countries which are transforming their governments, will also be on the agenda.
1. What is the state of affairs in the national economy?
2. What are the causes and how far are the banks responsible?
3. How did the politicians let this happen?
4. How did the banks respond to the changes made?
5. So why have the politicians done so little about it?
6. What can be done?
In this part:
1. What is the state of affairs in the national economy?
Manufacturing is being hollowed out. There is soaring corporate pay which is not justified because there is no concurrent improvement in productivity or innovation. Research and development is lower than in 1981, we have a financial crash, which "started in the City of London just as much as it started in Wall Street", and it may get worse.
2. What are the causes and how far are the banks responsible?
The banks are a primary cause -- through the proliferation of financial derivatives and securitisation. Through all these techniques they have evaded public control and used it to promote their own interest, not the national interest. They have been generators of unsustainable asset bubbles, and have seized control of the money supply. They have used their generation of the money supply in order to promote a property boom, and foreign speculation, whilst allocating a mere 8% to productive investment. This means that 11/12ths does not go into productive investment.
"I'm not anti-bank, but they have enormous power, and need to be brought to heel."
Joined: 25 Jul 2005 Posts: 17169 Location: St. Pauls, Bristol, England
Posted: Thu Aug 16, 2012 8:15 pm Post subject:
Bristol businesses queuing up to join local currency scheme
As Britain loses faith in its banks and feels shockwaves from the euro crisis, one city is trying to keep local wealth in local pockets with the launch of its own currency.
The Bristol pound - usable only with member businesses in the city in southwest England - is to launch in September, and organisers are deluged with local firms wanting to sign up.
"The perception of banking and money is that it's a very ruthless system: people are out for what they can get," co-founder Ciaran Mundy told AFP.
"This is about saying yes to something new. It's tapping into a different set of values about money."
The scheme has "captured people's imaginations", he added, in a recession-hit year when British banks have been beset by scandals and ministers talked openly of a possible euro collapse.
Hundreds of businesses have joined, from the acclaimed Arnolfini arts centre to the Chandos deli chain, and the launch had to be postponed from May to September 19 because of the level of interest.
Security professional Richard Wright signed up his company Wright Guard as soon as he heard about the Bristol pound, hoping it would help him fight back against encroaching security giants.
"I'm Bristol born and bred, and I always want to support local businesses," he told AFP. "I'll want to keep the Bristol pound flowing."
The notes feature symbols of local pride, from 19th century religious writer Hannah More to the Concorde aircraft, partly developed in Bristol, and images of the St Paul's Carnival Caribbean street festival.
Evoking a long history of dissent, one side of the £5 note shows a tiger writing on a wall in graffiti: "O Liberty!"
Other British towns have launched local currencies, but Bristol, home to half a million people, is the first big city, and its scheme is ambitious.
Businesses can pay local taxes in Bristol pounds and the council has offered its 17,000 staff the option of receiving part of their pay in the currency.
Mundy's team - funded initially by grants - have designed an electronic system for payments by text message, plus what they say are forgery-proof notes.
Stores selling products from cider to skate shoes said they were considering joining the scheme, which Mundy believes will have a tangible economic effect.
"Eighty percent of the money leaves the area if it is spent with a multinational - but 80pc stays if it is spent at a local trader," he said.
Such localism might seem strange in a city that grew to prosperity as an international port and is now a centre for aircraft manufacture.
But Bristol is also a left-wing haven with an activist tradition. The People's Republic of Stokes Croft, an urban renewal group, made headlines last year with a campaign that became a riot in protest at the opening of a Tesco supermarket.
They have greeted the Bristol pound warmly.
"We need to run things from the bottom up and from the grassroots, so that people have control over how things happen where they live," said spokesman Chris Chalkley.
But Louisa Jones and Joh Rindom, co-owners of Stokes Croft vintage clothing store Shop Dutty, thought the scheme would just add to their administrative burden.
"We're sceptical that having a micro economy within a macro economy is a bit backward," Rindom said.
Ben Yearsley, investment manager at Bristol-based financial services firm Hargreaves Lansdown, also won't be rushing to convert his sterling.
"It's just a big gift voucher scheme... I'm sceptical that it's going to make any difference," he told AFP.
"Local businesses need to compete on quality and service."
The Bristol pound will not be legal tender and must be exchanged through the Bristol Credit Union, with a 3pc charge for conversion back to sterling.
This and charges on electronic transactions will pay its running costs.
Despite the naysayers, Mundy hopes hundreds of thousands of Bristol pounds will be traded in its first year, increasing to "double figures of millions" by the third.
His model is the Chiemgauer, a German complementary currency of which millions of euros' worth is traded yearly.
Online database complementarycurrency.org lists more than 225 such minority currencies worldwide, of which 102 are in Europe.
They have won a high-profile advocate in Bernard Lietaer, a Belgian economist who helped design and implement the convergence mechanism for the euro.
"We will never have a stable, sustainable monetary system with a single monopoly of a single type of currency, whoever manages it," he said in a lecture in Brussels.
"Everybody can do something at their own scale... sustainability requires diversity," he added.
Mundy said that the ultimate test of his system would be the market.
"If people freely decide to market and trade with each other [in the currency], they should be able to do it," he said.
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