Petition to bring back the Bradbury Pound

gillywibble · 16 Oct 2013 at 23:31

Assuming you're not trolling, please watch the video, which explains it far better than I ever could.

dowie · 16 Oct 2013 at 23:54

I'm not trolling, I asked you some questions earlier in the thread... you've seemingly ignored them... later on you post a 40 minute+ video which you're arrogant enough to assume people will waste their time watching...(just a wild guess but it presents a rather distorted view of fiat currency) if anything you could be said to be trolling - you present an idea ambiguously and the refuse to clarify anything about it.

pitchfork · 17 Oct 2013 at 08:11

ScoTTyBEEE said:
Too...many....idiots.

Banks will maintain their monopoly as the UK is full of morons, as this thread shows.

I won't explain myself....

I'm still holding out for someone to come along, drop a bomb and flatten London, hopefully while all of the good people are on holiday.

Instantly solving a lot of the UK's problems.

PhilGQ · 17 Oct 2013 at 08:57

The last one was in 1914 so it needs a big 100th year anniversary celebration.

gillywibble · 17 Oct 2013 at 14:35

dowie said:
I'm not trolling, I asked you some questions earlier in the thread... you've seemingly ignored them... later on you post a 40 minute+ video which you're arrogant enough to assume people will waste their time watching...(just a wild guess but it presents a rather distorted view of fiat currency) if anything you could be said to be trolling - you present an idea ambiguously and the refuse to clarify anything about it.

Short answer -

The Bank of England loans money into existence at interest. The UK currently owes its creditors over one trillion pounds (source).

The solution to the problem would be for the Treasury to create interest free money based upon the wealth and potential of the nation (which is substantial).

This would kickstart a productive economy because there is no interest to pay on the money that is created.

Not having to pay interest on the creation of money reduces taxation, allows a free market to flourish and creates national wealth.

It has happened in Iceland and also in Hungary and their economies are now on the mend.

For a longer answer, read the free e-book created on the subject.

There is also an excellent documentary called The Secret of Oz -

PhilGQ · 17 Oct 2013 at 18:12

So I don't have to watch a video, how does increasing the money supply this way not cause inflation. Why is different to just printing money.

sigma · 17 Oct 2013 at 19:13

gillywibble said:
There is also an excellent documentary called The Secret of Oz -

dowie · 17 Oct 2013 at 22:58

gillywibble said:
Short answer -

The Bank of England loans money into existence at interest. The UK currently owes its creditors over one trillion pounds (source).

The solution to the problem would be for the Treasury to create interest free money based upon the wealth and potential of the nation (which is substantial).

What exactly do you mean by this? The bank of England has already been essentially creating money out of think air and purchasing longer dated gilts... we've already got ridiculously low interest rates thanks in part to this - how does your proposal of creating money differ to what has already been done?

This would kickstart a productive economy because there is no interest to pay on the money that is created.

you've not really explained what you mean... though if your aim is to kickstart the economy then I'd point out again that that has already (seemingly) happened

gillywibble · 17 Oct 2013 at 23:54

Just wow.

dowie · 18 Oct 2013 at 00:15

wow indeed - you're still seemingly unwilling to engage in any discussion but happy to post videos and copy and paste ambiguous statements

gillywibble · 18 Oct 2013 at 00:21

I don't know how better to explain it. You currently live in a debt based economic paradigm, you don't need to live in a debt based economic paradigm.

dowie · 18 Oct 2013 at 00:30

You've not even attempted to explain anything... you've just made random statements and asked people to watch videos.... If you're incapable of even engaging in basic discussion about an idea you support, answering questions etc... then why bother starting a thread in the first place.

pitchfork · 18 Oct 2013 at 07:58

gillywibble said:
I don't know how better to explain it. You currently live in a debt based economic paradigm, you don't need to live in a debt based economic paradigm.

That's sort of how fractional reserve banking works, the system we have existed under for decades.

PhilGQ · 18 Oct 2013 at 09:44

Debt isn't all bad especially if you are talking on a Macro scale. Every pound that borrowed is also loaned my someone, which for them is a form of investment in the economy.

I agree that debt could be wiped out and that unsustainable debt for everyday running costs is not ideal. I also think that forever relying on future growth to boost tax revenues so the country can carry on wasting money is not a real solution.

But creating new money will surely just devalue the money we have especially for those with cash accounts or Gilt edged portfolio which includes a lot of flat rate annuities. Whats the point of wiping out debt if people are worse off as result?

gillywibble · 18 Oct 2013 at 12:54

pitchfork said:
That's sort of how fractional reserve banking works, the system we have existed under for decades.

Fractional reserve lending is how the banks operate after the money is created by the Bank of England. That is a different issue.

Yaayuh! · 18 Oct 2013 at 12:57

Nope, sorry willygobble.

Judgeneo · 18 Oct 2013 at 13:18

gillywibble said:
I don't know how better to explain it. You currently live in a debt based economic paradigm, you don't need to live in a debt based economic paradigm.

Its pretty much impossible to live in a non-debt based system.

This weeks recommended reading:

"Debt: The first 5000 years"

gillywibble · 18 Oct 2013 at 17:14

Judgeneo said:
Its pretty much impossible to live in a non-debt based system.

Hungary would respectfully disagree.

daver · 18 Oct 2013 at 19:22

gillywibble said:
Hungary would respectfully disagree.

Not sure that report is accurate, they paid off their IMF loan, but their banks are still issuing interest bearing debt.

http://realcurrencies.wordpress.com/2013/10/06/hungary-no-debt-free-money/

The story originated at the American Free Press. It was linked to at innumerable sites and took Facebook by storm, but unfortunately it is incorrect. Having asked AFP for a reaction, I was told it was an unfortunate editing slip: the story was not passed by the financial editor.

dowie · 18 Oct 2013 at 20:36

daver said:
Not sure that report is accurate,

shhh don't ruin it for him... the OP seems to be attracted to anything sufficiently 'alternative'... you can't bring questions, facts, or delve too deeply into this sort of thing... instead you're supposed to blindly accept the alternative view/conspiracy which doesn't quite resemble reality and have it reinforced by wacky youtube videos and 'ebooks'.

the "Rothschild-controlled international banking cartels"... I mean a few hundred years ago, sure... these days.. an asset management firm, a small bank, few other small entities... they're hardly in a position to control anything.