Douglas Carswell's UK banking reform bill, first reading (2010-09-15)

UK House of Commons
Ten Minute Rule Motion; Financial Services (Deposits and Lending)
Mr Douglas Carswell
15 September 2010, 13:33 BST

Category:

News & Politics

Tags:

• Douglas Carswell
• Steve Baker
• Honest Money
• Fractional Reserve Banking
• Cobden Centre

[dxvxvx]

My heart burns to see such sense. Interest and inflaton both man made allow the rich and elite to get richer and cause our savings to dwindle year after year - this is slavery repackaged. Fortunately it enslaves every race and religion on this planet. By uniting against this for interest free based economy our future generations can be the motivation to support an interest free basesd currency backed by Gold (no inflaton)

[enstic]

Finally. An MP who sees the banking system for what it is, fraudulant!

[MultiBritishbulldog]

Its a shame 99% of people are more interested in the latest app for there bloody i phone or dumbing themselves down with "reality T.V" than discussing and sharing ideas about how corrupt our banking system is. If nations took back the power to issue money we could almost eradicate our nations debt. Now i understand why they teach us about dinosaurs instead of how the money system works. It is slavery re-packaged so we cant understand it. For gods sake people WAKE UP!!!!!

[mises84]

I want this bill to be read in my parlament!! common sense!! what an extravagancy

[Sliptodance]

"When demand for something rises, businesses produce more of it in response" That's OK but he goes on to say "demand for credit increases and the price of credit should rise"

If lot's of you want to borrow something from me I have to set low rates, or you'll go elsewhere.

I don't need someone to deposit with me as a precondition before I lend to you. If you've got the money to deposit with me initially, you wouldn't need to gain any credit from me.

He has a worrying affinity with the B of E.

[psychotropicfan]

So what happened with the second reading????

[tothemax01]

@JBMontgomery87 It does not. Islam preaches about riba being haram, but muslim banks are still enterprises which need to make a profit. Hence, they weasel around the issue by calling their activities anything but what it is: making money by lending money (interest).

There are some projects that can be financed by equity (issuing stock), but for the most part an economy needs debt to function.

[JBMontgomery87]

@tothemax01 It exists in Islamic banking.

[greasyjoe90]

A Conservative who speaks a lot of sense on various subjects and doesn't toe the party line.....Oh! And he's my MP, aren't I the lucky one!!

[psychotropicfan]

Can someone please tell me, when did the second reading occur?