Steve Baker MP - on Money Creation & Money Reform

[58robbo]

it's definitely no cock-up! the federal reserve was created by the banks for the banks. you may be right when you suggest that most politicians, economists and even bankers, don't understand monetary policy, but those at the top, understand it well, know where their bread is buttered and the only policy of reform they'll get behind is one which delivers them more money and power. it really annoys me that people want to hide from the reality that this is a conspiracy!

[janosabel]

Why did the PositiveMoney team back away from pressing for bringing the 1848 Banking Act up to date and outlaw the issuing of credit-money by private banks?

[ArtsWalesUK]

Brilliant! And about time too. It has never made sense to me that we trade with something that essentially does not exist. Debt has fueled so many of the wrong things - greed, false values, faked prosperity, and so on. Ultimately this can only ever lead to damaged self-worth and displaced people who are disconnected from their communities. I particularly loved the lack of ego approach in making friends across the parties. Fantastic!

[glasiad]

Good to see MP thinking about the fault debt-based money supply ... but he seems quite confused on a number of key concepts. For example, the last thing the government has is a monopoly on the pound, It is at best a minor partners - in debt to its masters - the banks.

[5iF3R]

A very enlightened and intelligent MP :)

[arcanekrusader]

Governments have monopolies on violence and on poor service. They are unsurpassed in both!

[arcanekrusader]

My local MP!

[ShudderProductions]

@arcanekrusader Lucky

[Spacedog79]

Commodity backed money is a bad idea when the banks already own nearly all of that commodity. They will still be able to manipulate the money supply just as before. It's the Bankster's trojan horse, it actually plays in to their hands. There is absolutely nothing wrong with fiat money, it is in fact the ideal medium of exchange so long as you have effective control over its quantity.

[alexgoodallvideos]

Very good talk, Steve. A refreshing integration of strong opinions and non-dogmatism. Helped me appreciate the wider context within which the Positive Money movement is operating. I'll go look up the Cobden Centre.

[bankingreform]

One of the best presentations I have ever seen on money.

Thanks Steve Baker.

Such an important video.

Simon Dixon