Monetary Reform – Miscellaneous

    Investigating the Bank of England Nominees Limited

    The following article by Alistair McConnachie appeared in the October 2011 issue of Prosperity. Occasionally we encounter people who refuse to believe the fact that the Bank of England is a fully, publicly-owned national institution, and has been since it was nationalised in 1946(1)   They will point to something called the “Bank of England Nominees […]

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    Beware of Electronic Currency Clippers – by David Weston

    Above: David Weston (right) and Paul Grignon, Glasgow, Scotland, Friday 4th September 2009. Recently, Barclay’s Bank and HSBC industries announced that each had ‘made’ three thousand million pounds in a mere three months. What do they mean by ‘made three thousand million pounds’? With what product did they ‘make’ three thousand million pounds? Where was […]

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    A History of Banking Regulation in the UK

    by Alistair McConnachie THE BANKING ACT 1979 This was the first UK Act to put banking regulation on a statutory footing. Prior to 1979 there was no regulation of the sector. This was around the same time as EC Directive No 77/780 of 12 Dec 1977(1) intended to promote harmonisation in financial services. This Act […]

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    Seigniorage and the Bank of England: How It’s Calculated

    by Conall Boyle It was J K Galbraith who said: “The process by which banks create money is so simple the mind is repelled. Where something so important is involved a deeper mystery seems only decent.” Well, it looks like the folks at the Bank of England (BoE) have done it! What at first seemed […]

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    Shedding Some Light on the Bank of England

    By Richard Greaves There is no great mystery today surrounding the Bank of England — its annual report, which anyone can obtain, contains full sets of accounts and is quite clear and explicit about its composition and functions which, incidentally, have changed substantially since its formation back in 1694. In its early days it lent […]

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    Addressing the Gold Question

    By Alistair McConnachie & James Gibb Stuart “The Gold Standard” means that there is a rigid relationship between a country’s gold reserves and its money supply and that gold is the only means of international payment. So when people talk about “the gold standard” they are talking about it in two areas: 1) gold as […]

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    Faith Unity Against Debt Slavery

    By James Gibb Stuart In the Coronation Oath there is a Latin phrase, Fidei Defensor, which has customarily been rendered in English as Defender of the Faith. Prince Charles has shown that the Latin is ambiguous when he chooses to translate it as Defender of Faith. That subtle shift in interpretation should be seen as […]

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    Power of Transformation

    by Susana Piohtee This article is intended to place the topic of monetary reform within a wider context, and to uncover some spiritual and psychological root causes of a cultural status quo that embraces – celebrates even – an economy fuelled by debt and human distress. Between us we have the power to transform this […]

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    Sustainable Farming

    Ken Palmerton, James Gibb Stuart and Alistair McConnachie discuss. On 18 April 2001, Money Reformer Ken Palmerton visited the offices of Prosperity. We took the opportunity to discuss the present Foot and Mouth crisis and the possible Money Reform lessons we could learn. ALISTAIR: The justification for the slaughter policy is to achieve "disease free" […]

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    The Wonderful Wizard of Oz – A Monetary Reform Parable

    Alistair McConnachie writes: The Wonderful Wizard of Oz by L. Frank Baum (Chicago, 1900) is a parable about Money Reform and the 1890s Midwestern political movement led by William Jennings Bryan (1860-1925); three times candidate for President of the United States (see his poster at bottom of this page). From 1891-1895 Bryan served in the […]

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    Fuel Tax and the National Debt

    By Richard Greaves Richard Greaves had a version of the following printed in The Brecon and Radnor Express on the 21 September 2000. The fuel crisis in which Wales was the most severely affected area in Britain is now coming to an end. Sooner or later the government probably will reduce tax on fuel, but […]

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    Public & Private Debt – Shifting the Hole

    By Richard Greaves When it comes to debt, there’s no disputing that we are in a rather big hole and it’s getting bigger all the time. Private debt in the form of loans to individuals and businesses is rising at more than £60 billion per year and is probably set to top £1000 billion very […]

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    Welfare Reform: the Case for a Citizen’s Income

    by Duncan Burbidge A Citizen’s Income scheme (sometimes called Basic Income or Universal Benefit) is intended to overcome the failings of the present welfare state. It would be simple in application, increase economic efficiency, help prevent poverty and unite our society. The first part of this article explains the Theory behind a CI and the […]

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