Tag Archives: Bank of England

Green Credit for Green Purposes – a four-year old idea whose time has come?

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.

The Bank of England – Ten Years On

On Thursday, June 14th, 2007, I heard Gordon Brown give evidence before the Treasury Select Committee. What a sad performance. It left me unusually depressed for a few days.

The Monetary Policy Committee of the Bank of England – Ten Years On is the topic of the current enquiry of the Committee – but he initiated the move as soon as Labour was in power.

And now he wallows in its ‘success’ which he measures by inflation and unemployment.

Why is inflation blindly accepted at face value?

Why do none of the Committee members question this short term measure? Instead they visit other Central Banks in the US and Canada. And Mr Brown also brags with being in line with the Fed and the European Central Banks.

As a professor of economics said to me: it’s a cartel of central banks that we’re up against

And Gordon Brown will get away with it in his self-gratifying and arrogant style.

In order NOT to get depressed, it is worth watching this video which says brilliantly in poetry what I’ve found in other ways: the author Paradox calls it The Matrix – which was most gratefully received from Russian / Cypriot friend and Multi Media Wizard David Edmond.