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Monetary | reform

Monetary Reform Topic in The Credit Debacle Catalog

monetary reformers argue (3).

Mon 2010-08-23 11:03 EDT

A Program for Monetary Reform, the 1939 Document | Economic Stability

Paul H. Douglas, Irving Fisher, et. al

[pdf download] ...Our own monetary policy should likewise be directed toward avoiding inflation as well as deflation, and in attaining and maintaining as nearly as possible full production and employment. ...[100% Reserve System] Since the fractional reserve system hampers effective control by the Monetary Authority over the volume of our circulating medium it is desirable that any bank or other agency holding deposits subject to check (demand deposits) be required to keep on hand a dollar of reserve for every dollar of such deposit, so that, in effect, deposits subject to check actually represent money held by the bank in trust for the depositor.

1939 document; Economic stability; Monetary Reform; program.

naked capitalism Tue 2009-10-13 20:47 EDT

Guest Post: The REAL Battle Over America's Banking System

George Washington of Washington's Blog

...the battle isn't between bankers versus outsiders. It is between the giant New York money-centered banks and the rest of the country...monetary reformers argue that letting banks create credit and money and then charge high interest rates creates massive levels of debt for states and taxpayers. They argue that the power to create money should be reclaimed by the government and taken away from the private banks...

America's banking system; Guest Post; naked capitalism; real battle.

naked capitalism Tue 2009-09-22 11:32 EDT

Guest Post: If Credit is Not Created Out of Excess Reserves, What Does That Mean?

George Washington

We've all been taught that banks first build up deposits, and then extend credit and loan out their excess reserves. But critics of the current banking system claim that this is not true, and that the order is actually reversed...Steve Keen explained that 25 years of research shows that creation of debt by banks precedes creation of government money, and that debt money is created first and precedes creation of credit money...monetary reformers like Ellen Brown argue that the entire banking system is based upon a fraud. Specifically, she and other monetary reformers argue that the banks have intentionally spread the false reserves-and-credit first, loans-and-debt later story to confuse people into thinking that the banks are better capitalized than they really are and that the Federal Reserve is keeping better oversight than it really is...Monetary reformers argue that the government should take the power of money creation back from the private banks and the Federal Reserve system.

created; credit; excess reserves; Guest Post; meaning; naked capitalism.

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