English: The expansion of $100 through fractional-reserve lending at varying rates. (Photo credit: Wikipedia)
The writers of the Bank of England Act 1694 had the intention
to avoid the serious oppression of Their Majesties’ subjects.
Hence they didn’t allow the Corporation to trade. Should it trade after all, it would have to pay as punishment:
treble the value of the trade.
In theory, this means that the BoE would have to pay the Treasury treble the value of all national and public debt bonds!
Will MPs appreciate this when they debate ‘money creation and society’ this Thursday as part of Backbench Business?
See Parliament Debate, including the link to watching the debate live .
Further info on Facebook and these Google results.
Posted in Bank of England, Cash, Creation of Money, Credit, Legalized Usury, Money, Money supply, Money Supply, Money supply inflation, Treasury money
Tagged Associated Press, Dow Jones Industrial Average, Eastern Time Zone, European Central Bank, NASDAQ, New York City, S&P 500, Standard & Poor's, United States Department of the Treasury, United States Treasury security
This 48-page booklet (1981) and this 200-page book (1986) are as fundamental as The Money Bomb (1983) – and as true and relevant today as there and then – if you want to understand how ‘money’ has changed from being a ‘medium of exchange’ to being used as a ‘tool for control’!
The title says it all: Government Debt and Credit Creation!
Posted in Austerity, Bank of England, Blind spots, Bradbury Pound, Cash, Creation of Money, Credit, Credit Creation, Debt, Economics, Government debt, Legalized Usury, Money, Money supply, Money Supply, National Debts, Public Debts
Tagged Bradbury Pound, Central bank, early day motion, Government debt, HM Treasury, Money Bomb, Money creation, Thomas Paine
The Growth of Credit over Cash since 1943
The Bradbury Pound to the Rescue!
A little known historical precedent that will stop the criminal debt-creating banksters well and truly in their tracks!
Central Banks – the Irresponsible Institutions
The completely contrived and planned global debt bubble is rapidly becoming unsustainable and will burst at some point very soon bringing with it a financial meltdown on a scale never before seen. It’s now clear from whistleblowers and researchers that the cabal that makes up the debt-creating banking elite, with their global network of central banks (including the Bank of England and the Federal Reserve) led by their little known Bank for International Settlements (BIS), has a well laid plan to collapse the world’s economy.
One World Debt-Based Currency – the mechanism for Global Slavery
The plan, using unsustainable and unlawful debt to collapse the major currencies of the world, is well advanced. It’s all about the banking elite’s long term goal to create a centralised and global electronic currency – a currency that will inevitably lead to the reality of a cashless world where complete Orwellian control decides who gets paid and who doesn’t! Continue reading
Posted in Austerity, Bradbury Pound, Cash Crumble, Challenging the Recession, Creation of Money, Issue of Currency, Legalized Usury, Money supply, Money Supply, National Debt, National Debts, Online activities, Public Debts
Tagged Bank for International Settlements, bank of england, Bradbury, British people, Central bank, government, HM Treasury, London
The Money Scam are 59 slides, relating to Dollars and in American, explaining how banks
- create credit from thin air and call it “money”
- sell it at interest, and especially to the governments of Nations
- expropriate real value from the real economy and real value…
and how we, the people, need to wake up!
Slide 58 says that the National Debt is the amount that the central bank has been stealing. So, according to the Bank of England Act 1694, the Bank of England should pay the Treasury 3 times the National Debt!
Supposedly produced by Alex Jones, one of the most vociferous American radio journalists.
This letter in the FT recommends quantitative easing (the printing of Credit money by the Bank of England) and led me to Tim Congdon and his consultancy International Monetary Research Ltd.
It is most interesting how he watches and interprets the money supply and certainly knows how to distinguish between the Treasury and the Bank of England.
This is what I wrote to him:
Dear Prof. Congdon
Your letter in the FT sparked so much interest in me that I comment on it on one of my blogs here.
I have also studied your website and would love to add to your insights from my perspective as a mathematician and systems analyst, formerly at CERN in Geneva.
The fact that you watch the money supply and its growth is most intriguing to me. That you manage to turn it into advice to clients is downright impressive!
If you were to read Green Credit for Green Purposes which we submitted to the Treasury Select Committee in response to the Stern Review, you would see that we recommend the Cash : Credit ratio as a measure that needs to be taken and redressed. By Cash I mean M0 and Credit refers to M4.
The real problem is that nobody creates the interest necessary to pay for M4. Hence people need to borrow and borrow to pay interest upon interest.
If you were to take an interest in our perspective, I would be glad to hear from you!