Green Credit for Green Purposes was a submission to the Treasury Select Committee that formed the basis for this blog in February 2008.
Recently, the Bank of England came up with ‘doing it by QE’, or quantitative easing – as if there was no difference between ‘credit’ that requires ‘interest’ and ‘cash’ that is interest-free.
Besides the fact that nobody issues the interest necessary for all credit, the other aspect is who has the privilege of
- issuing interest-free Cash: National Governments
- issuing interest-bearing Credit: virtually all financial institutions
- and who controls the issuers???
What is particularly sad is the fact that National Governments have let the financial institutions virtually take over the privilege of issuing money as Credit and thus the power of control.
What’s so dishonest about our money explains these arguments on another site.