Archive for May, 2012

What I would tell Greece to do tomorrow if they asked…3 Simple Solutions for The Financial Crisis

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So I am always asked to lay out my proposals for moving out of the financial crisis.

Well here it is -three simple things I would do from my book ‘Bank To The Future: Protect Your Future Before Governments Go Bust’.

If I was appointed to advise the new Greek parliament tomorrow, here is what I would advise them…

Firstly, get out of the Euro and default on any foreign debt. It is beyond control and the ECB (EG Big Germany) will take all your sovereignty and tell you how to run your country while stripping up all your countries assets and advise further austerity.

Once you have done this, time to re-build.

The Greeks are now faced with the perfect opportunity to be a pioneer for sustainable banking.

So second thing is, replace all the toxic debt based money created by banks, with debt free money.

Simply put, a newly appointed independent monetary authority creates debt free number money on a server.

I would use this to pay down the domestic national debt and this will pour a load of money into the economy without inflating the total money supply. You are simply replacing one form of money with another form, but without the interest.

This cannot be used to pay foreign debt, as the money will leave the country and not cause the necessary stimulus.

Now time to reform the banks by using some of this debt free money and lend it (once off) to all the Greek banks, equal to the amount of money they have created through loans.

This is followed by a legal Act that makes it illegal for banks to create money and they are forced to hold 100% reserves.

As bondholders money starts to reach the economy aa the government does not need to borrow anymore, people pay down their debts and the banks gradually repay this money back to the Greek treasury and this makes it’s way back into the country as the country reducing taxes for everybody.

Now we foresee banks to separate current accounts and investment accounts for their customers as described in the video and their is no liability on Greek taxpayers to bailout the banks again.

Society decides where they are going to direct their savings and the economy rebuilds itself sustainably based on the values of the Greek people, not on the values of the banks.

The Greeks are now more sustainable, more stable and more equal.

Love to hear your comments.

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97% Owned Documentary The Positive Money Directors Cut

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When money drives almost all activity on the planet, it’s essential that we understand it. Yet simple questions often get overlooked – questions like:

• where does money come from?
• Who creates it?
• Who decides how it gets used?
• And what does that mean for the millions of ordinary people who suffer when money and finance breaks down?

97% Owned is a new documentary that reveals how money is at the root of our current social and economic crisis. Featuring frank interviews and commentary from economists, campaigners and former bankers, it exposes the privatised, debt-based monetary system that gives banks the power to create money, shape the economy, cause crises and push house prices out of reach.

Fact-based and clearly explained, in just 60 minutes it shows how the power to create money is the piece of the puzzle that economists were missing when they failed to predict the crisis.

Produced by Queuepolitely and featuring Ben Dyson of Positive Money, Josh Ryan-Collins of The New Economics Foundation, Ann Pettifor, the “HBOS Whistleblower” Paul Moore, Simon Dixon of Bank to the Future and Sargon Nissan and Nick Dearden from the Jubliee Debt Campaign, this is the first documentary to tackle this issue from a UK-perspective, and can be watched online now.

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