Last October, Positive Money held a conference; today, its head honcho Ben Dyson released a video of his favourite speaker addressing an appreciative audience.
Ben Dyson likes the sound of his own voice, so do his audiences. That is not a problem, the problem is that the people who should be listening are not, and most of them haven't got a clue why the economy is going down the tubes.
In this short presentation he explains where money comes from, what Major Douglas called the monopoly of credit. Who was Major Douglas? Well. among other things he was the bloke who gave us this equation.
This is the "Douglas Money Equation" as formulated by Major C.H. Douglas (1879-1952).
This talk will be nothing new to those in the know about financial reform, probably the most important point to stress at the moment though is that if Call Me Dave and his gang go ahead with their plan to pay down the deficit, the domestic money supply will contract. This is what happened on a global scale during the so-called Great Depression, as even the fairly mainstream if Libertarian Milton Friedman realised.
The only solution is of course to take the power of credit creation away from the banks and for the government to create all the credit it needs to run the economy debt-free, with maybe the occasional anti-inflation taxation if it creates too much.
If you haven't heard or heard of Positive Money before, check out their website. If you are not based in the UK, don't let that deter you, because this is an international problem. Educate yourself, then perhaps you may be able to do something about it. The Occupy People have their hearts in the right place, by and large, but most of them haven't got a clue about what is wrong with the world's economies and what needs to be done to put them right. It is not about taxing the rich as Ayn Rand pointed out because taxation reduces investment capital. What Britain and the world needs is more spending power, not less, as Dyson and his team realise. Now if only they can get the Government to listen.
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