Debt Free Money and Full Reserve Banking in the UK

http://wideshut.co.uk/debt-free-money-and-less-fraction-in-the-reserves/ - Everytime the Government needs money it must borrow it from private entities and then the people have to pay it back with interest through taxation and cuts. The majority of money in circulation is now electronic debt created out of thin air through fractional reserve banking. The UK is currently in £4.8 trillion worth of debt; cuts and taxes are futile and will act to enslave us for hundreds of years. One answer to end this illogical system is for the Government to print debt free money, to fund its public projects and to outlaw the private banks from lending what they don't have. The Bromsgrove Group and MP Douglas Carswell are making the first steps in bringing about these reforms.

Category:

News & Politics

Tags:

• fractional reserve banking
• debt free money
• douglas carswell
• bank of england
• cuts
• recession
• uk

[patbarkley]

Ending fractional reserve banking means ending banking.

Silly idea.

[wideshutuk]

@patbarkley It means ending irresponsible, bubble creating, debt enslaving, monoply banking...yes. In that sense I think it's a good idea.

[rebelq1]

@wideshutuk

Can you explain to me how money that's printed from a central bank ends up in people's hands?

[wideshutuk]

@rebelq1 I see you're American. In the recent QE, the fed created money electronically out of thin air, it then purchases assets with this new money from banks and other private businesses. The hope is that these businesses with their new liquid money invest it to stimulate the economy, such as making more mortgages available etc.

[rebelq1]

@wideshutuk

By the way, is that the only way that fiat money gets circulating in the market?

[wideshutuk]

@rebelq1 There is also fractional reserve banking that allows banks to lend out more money than they have (through loans etc). This inflates the money supply, but ultimately sucks it back out with added interest. It's well worth a google.

[westwaytv]

Good post Keelan. Hopefully Carswell can make an impact. I like his localism agenda too, a far more genuine project than this 'Big Society' nonsense. Both solutions in the vid seem more like end points: the question is what do we do in the here & now?

In an age of corrupt & captured politicians I wouldn't trust the State with debt free money. Taking savings out of fiat & into precious metals is not just a sensible precautionary move, it's a political statement & a vote of no-confidence.

[ryanburbridge]

@baughshreddz what you fail to realize is it dose not matter what backs the money system. As long as DEBT is not the vehicle of money creation the money system will be sustainable.

Gold has limited supply and inherent value and thus kept the money system stable.

Fiat currency can do the same if not created from debt.

The money only has value because we all accept it and use it. You and I give money it's value as do we give gold it's value.

[superdiza]

This is THE SOLUTION, as it seems to all of the problems the world has been protesting on through 2011. it sure seems like it to me!

The public lacks an honest money system, serving society, by the people not this bullshit debt fraud structure. .

PUBLICLY CREATED DEBT FREE MONEY. brilliant :)

is it really so simple?

is this the secret meme to 2012?

Ha!

this solves everything.

[mattfm101]

You guys need to go down to occupy London and do a presentation cause this whether they know it or not is what they are protesting about

[88roro11]

end frackin fractional reserve banking and central banking i want my money to have value

[TheFreedebt]

great video

[etzel33]

Excellent vid. Thanks for the upload.