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Monetary Reform In Britain
Monetary reform is the process of fundamentally changing policies regarding money. It can include changes to the money creation process, fractional-reserve banking, financial institutions, financing of the economy and social credit among other things. History C. H. Douglas and the Social Credit-movement In the years around 1920 the British engineer C. H. Douglas developed a theory on banking and welfare distribution, a theory which he called "Social Credit", and which soon became the cornerstone of an international movement with the same name. However, Douglas himself warned against viewing the Social Credit solely as a scheme for monetary reform. Personally he preferred to describe it as "the policy of a philosophy" or, to be exact, the policy of "practical Christianity". This policy, linked to this philosophy, is all about dispersing economic and political power to individuals. As he once wrote, "Systems were made for men, and not men for systems, and the interest of man ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Reform
Monetary reform is any movement or theory that proposes a system of supplying money and financing the economy that is different from the current system. Monetary reformers may advocate any of the following, among other proposals: * A return to the gold standard (or silver standard or bimetallism). * Abolition of central bank support of the banking system during periods of crisis and/or the enforcement of full reserve banking for the privately owned banking system to remove the possibility of bank runs, possibly combined with sovereign money issued and controlled by the government or a central bank under the direction of the government. There is an associated debate within Austrian School whether free banking or full reserve banking should be advocated but regardless Austrian School economists such as Murray Rothbard support ending central bank bail outs (" ending the Fed"). * The issuance of interest-free credit by a government-controlled and fully owned central bank. Such i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possess intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar. Contexts which erode public confidence, such as the circulation of counterfeit money or domestic hyperinflation, can cause good money to lose its value. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fractional-reserve Banking
Fractional-reserve banking is the system of banking operating in almost all countries worldwide, under which banks that take deposits from the public are required to hold a proportion of their deposit liabilities in liquid assets as a reserve, and are at liberty to lend the remainder to borrowers. Bank reserves are held as cash in the bank or as balances in the bank's account at the central bank. The country's central bank determines the minimum amount that banks must hold in liquid assets, called the "reserve requirement" or "reserve ratio". Most commercial banks hold more than this minimum amount as excess reserves. Bank deposits are usually of a relatively short-term duration, and may be "at call", while loans made by banks tend to be longer-term, resulting in a risk that customers may at any time collectively wish to withdraw cash out of their accounts in excess of the bank reserves. The reserves only provide liquidity to cover withdrawals within the normal pattern. Banks a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Credit
Social credit is a distributive philosophy of political economy developed by C. H. Douglas. Douglas attributed economic downturns to discrepancies between the cost of goods and the compensation of the workers who made them. To combat what he saw as a chronic deficiency of purchasing power in the economy, Douglas prescribed government intervention in the form of the issuance of debt free money directly to consumers or producers (if they sold their product below cost to consumers) in order to combat such discrepancy. In defence of his ideas, Douglas wrote that "Systems were made for men, and not men for systems, and the interest of man which is self-development, is above all systems, whether theological, political or economic." Douglas said that Social Crediters want to build a new civilization based upon " absolute economic security" for the individual, where "they shall sit every man under his vine and under his fig tree; and none shall make them afraid." In his words, "what ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
C H Douglas
Major Clifford Hugh "C. H." Douglas, MIMechE, MIEE (20 January 1879 – 29 September 1952), was a British engineer and pioneer of the social credit economic reform movement. Education and engineering career C.H. Douglas was born in either Edgeley or Manchester,Martin-Nielsen, "An Engineer's View of an Ideal Society", p. 97 the son of Hugh Douglas and his wife Louisa (Hordern) Douglas. Few details are known about his early life and training; he probably served an engineering apprenticeship before beginning an engineering career that brought him to locations throughout the British Empire in the employ of electric companies, railways and other institutions. He taught at Stockport Grammar School. After a period in industry, he went up to Pembroke College, Cambridge at the age of 31 but stayed only four terms and left without graduating. He worked for the Westinghouse Electric Corporation of America and claimed to have been the Reconstruction Engineer for the British Westinghouse C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Credit
Social credit is a distributive philosophy of political economy developed by C. H. Douglas. Douglas attributed economic downturns to discrepancies between the cost of goods and the compensation of the workers who made them. To combat what he saw as a chronic deficiency of purchasing power in the economy, Douglas prescribed government intervention in the form of the issuance of debt free money directly to consumers or producers (if they sold their product below cost to consumers) in order to combat such discrepancy. In defence of his ideas, Douglas wrote that "Systems were made for men, and not men for systems, and the interest of man which is self-development, is above all systems, whether theological, political or economic." Douglas said that Social Crediters want to build a new civilization based upon " absolute economic security" for the individual, where "they shall sit every man under his vine and under his fig tree; and none shall make them afraid." In his words, "what ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Personal Development
Personal development or self improvement consists of activities that develop a person's capabilities and potential, build human capital, facilitate employability, and enhance quality of life and the realization of dreams and aspirations. Personal development may take place over the course of an individual's entire lifespan and is not limited to one stage of a person's life. It can include official and informal actions for developing others in roles such as teacher, guide, counselor, manager, coach, or mentor, and it is not restricted to self-help. When personal development takes place in the context of institutions, it refers to the methods, programs, tools, techniques, and assessment systems offered to support positive adult development at the individual level in organizations. Overview Among other things, personal development may include the following activities: * Improving self-awareness * Improving self-knowledge * Improving skills and/or learning new ones * Building ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Grip Of Death
''The'' () is a grammatical article in English, denoting persons or things that are already or about to be mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with nouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a consonant sound, and as (homophone of the archaic pron ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Rowbotham
Michael Rowbotham is a political and economic writer and commentator based in the UK who is primarily known for his two books, ''The Grip of Death: A Study of Modern Money, Debt Slavery, and Destructive Economics'' (1998) and ''Goodbye America'' (2000). ''The Grip of Death'' ''The Grip of Death: A Study of Modern Money, Debt Slavery, and Destructive Economics'' focuses on what he believes to be inequities in the practice of fractional-reserve banking (which he equates with counterfeiting) and the economic distortions he believes to be inherent in the so-called debt-based monetary system which almost all nations use in the modern age. In ''Goodbye America'', Rowbotham argues that Third World debt is immoral, invalid, and inherently unrepayable. See also * Criticism of fractional-reserve banking * List of monetary reformers * Monetary reform * Soft currency In macroeconomics, hard currency, safe-haven currency, or strong currency is any globally traded currency that serves a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2006 Bromley And Chislehurst By-election
A by-election was held in the UK parliament constituency of Bromley and Chislehurst in London, following the death of Conservative Member of Parliament Eric Forth on 17 May 2006. The writ for the electing of a new member was issued on 6 June for a polling day of 29 June 2006, the same day as the Blaenau Gwent by-elections. The Conservatives held the seat but with their majority much reduced by the Liberal Democrats. Labour was pushed into fourth place by the UK Independence Party. This was only the second time Labour had fallen to fourth place in an English by-election since World War II, the 1989 Richmond (Yorks) by-election being the other occasion. Labour would later drop to 5th place at the 2008 Henley by-election. Candidates On 3 June 2006, the local Conservative Association selected Bob Neill, the London Assembly Member for Bexley and Bromley and leader of the Conservative group in the Assembly. The Liberal Democrats selected London Borough of Bromley councillor Ben ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canterbury (UK Parliament Constituency)
Canterbury is a constituency in Kent represented in the House of Commons of the UK Parliament since 2017 by Rosie Duffield of the Labour Party. The seat dates to the earliest century of regular parliaments, in 1295; it elected two MPs until 1885, electing one thereafter, before being altered by the later-termed Fourth Reform Act in 1918 (the first being in 1832). Currently, the electorate (the total of people eligible to vote) is much greater than the average nationwide (the electoral quota); this is termed under-apportionment of representation. Constituency profile The seat takes in the cathedral and university city of Canterbury, rural villages to the south, and the seaside resort of Whitstable to the north. Full time students make up around a quarter of the electorate. History ;Constitutional status of seat The widened Canterbury constituency was formed from an expansion of the narrow parliamentary borough (or simply borough) of the same name that existed from 1295 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Monetary Reformers
This is a list of monetary reformers from the past to the present according to several schools of thought. Monetary reformers primarily belong to the following groups: *Supporters of publicly issued money who oppose charging interest on issuance of money, formerly called "Greenbackers" in late 19th century United States, *the Austrian School who generally support a return to the gold standard or full-reserve banking, and *the Post-Keynesian economics, Post-Keynesian School who generally wish to regulate or reduce leverage and debt in the economy or direct it to "productive, non-speculative" uses. Most of these groups are critical of fractional-reserve banking, a practice which is described by critics as "creating money out of thin air". According to the Bank of England "rather than banks lending out deposits that are placed with them, the act of lending creates deposits – the reverse of the sequence typically described in textbooks". Public, community and self-issuance of m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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