This 10-page Word document is a detailed response to the Committee’s inquiry into the banking crisis. It is also written in anticipation of the G20 meeting in London in April.
The proposal elaborates on one of the Committee’s 30 points: “Possible improvements to the architecture of (national and) international financial regulation, and maintenance of (national and) global financial stability” and consists of two proposals:
- Genuine nationalisation of the national money supply, making it unnecessary to nationalise commercial banks – by the Bank of England creating and issuing “bank-account money” debt-free – as a monopoly
- Genuine internationalisation of the international money supply – through an international currency.