Tuesday, 22 August 2017

Quantitative Easing vs Qualitative Easing.

Quantitative Easing vs Qualitative Easing.

There are presently three different so-called 'pump priming' monetary policy initiatives, that are confusingly being referred to by many as all being the same thing. But more accurately two of them favour the private banking sector over society, and one society over the banking sector.

1 - Printing bank credit reserves 1st example that favours banking sector over mainstreet;

Boosting bank credit reserves to replace what senior most owners and executives have stripped from the institution via remuneration packages with reported levels of profit justification that are creative accountancy, fraudulent counterfeit credit based cover-ups.

Creative accountancy fraud that leaves the institution itself insolvent and in need of assistance.

This does not work to pump prime the economy of course because no increased purchasing power reaches already debt saturated main street without it being via loans from the banks. Which when society is already debt saturated and been given no relief from the counterfeit credit already existing in the system, it is like pushing a piece of string.

2 - Printing bank credit reserves 2nd example that favours banking sector over main street;

Boosting banks credit reserves for them to purchase real assets from debt-encumbered companies or even countries. The benefit said to be by the bankers, injecting cash into cash-strapped sectors in an attempt to get the economy flowing again. They say they will sell the 'real assets' back to the market once the economy is flowing again.

Again given that there is no relief of the already existing levels of counterfeit credit based demands, and much of the cash changing hands comes straight back to the banks as payments, it is again like pushing a piece of string.

What it essentially does is allow the senior most vested interests to use counterfeit credit in a predatory way to gain ownership of the real assets of the society, so as they can then rent them back to society.

3 - Printing state institution mutual public credit reserves to be spent, rather than lent, into circulation that favours mainstreet over the senior most owners and executives of the banking sector;

Presently many societies of the world via contracts organised by their leaders, have entrusted institutions external of the state to administer the nation's currency originating 'pump priming' credit mechanism at the heart of their money system funding structures.

That, for a fee covering their cost of business and fair remuneration for their expertise of keeping everything in endgame loan repayment equilibrium, they will contractually administer the system in a fair way that will enhance the well-being of all of the society.

But many societies are starting to realise that the senior most owners and executives of these institutions external of the state have been committing grand-scale, predatory lending of counterfeit credit, control fraud.

They have been cooking the credit books in pursuit of short-sighted personal kings ransoms, rather than the long-term well-being of as many of society as possible.

The only way to now to fill the gap that has developed between the needs of mainstream and the lack of being able to access those needs due to interest payment demands upon a massive amount of already existing counterfeit credit, at least if society still wishes to retain a central currency, is by giving relief from those fraudulent claims by using another way to pump prime the economy in a way that bridges the poverty among plenty gap.

That way is via society, via their government, rescinding the contract of the institutions external of the state that has them at the top of the currency originating credit tree and occupying that space themselves.

Rather than first externally lending its purchasing power from external sources to then spend, it simply credits its own account with the value of its own credit, as is any nations sovereign right, then sets about doing what is necessary to give relief from the private banking sector counterfeit credit levels, by essentially doing the first two methods described above in this article, but to benefit society as a public trust and not institutions external of the state.

I would describe the 3rd of these processes as Qualitative Easing, rather than Quantitative Easing.

Wednesday, 2 August 2017

2017 Ideal Money System Funding Structure Reform Advisory Panel

If you conclude that these people have merit, please bring the information they possess, to the attention of as many people within the political and media public protection agencies of your nation, as you can.

These money system funding structure reformists are senior most international level Bankers – Academics – Regulators, and Me, who have integrity and are using their knowledge trying to prevent the breakdown of civilised society.

These people are not path of least resistance, ego preserving apologists for what they have played a part in, they are proven advocates for true reform of the presently failed money system funding structures of the world.

As the world seems to be reversing 
away from learned behaviours of common decency, into a selfish slave master minded, feudal commercial pyramid fraud ideology. 

Before parents consider allowing their children being sent off to kill each other en masse in wars. Please take the time to read these peoples findings and suggestions for a more socially stable and environmentally sustainable, money system funding structure.

David C Korten

Dr. David C. Korten worked for more than thirty-five years in preeminent business, academic, and international development institutions. Served for five and a half years as a faculty member of the Harvard University Graduate School of Business, where he taught in Harvard’s middle management, MBA, and doctoral programs. Asia regional adviser on development management to the U.S. Agency for International Development before he turned away from the establishment to work exclusively with public interest citizen-action groups.

Short summary of his findings in this video;

https://www.youtube.com/watch?v=gTKE_mpEUu0

More detailed written summary here;

http://www.yesmagazine.org/pdf/liberateamericadownload.pdf

Adair Turner

Present -2015- Senior Fellow of the Institute For New Economic Thinking.

Prior to September 2008 Lord Turner was a non-executive Director at Standard Chartered Bank, United British Media and Siemens; from 2000-2006 he was Vice-Chairman of Merrill Lynch Europe, and from 1995-99, Director General of the Confederation of British Industry. He was with McKinsey & Co. from 1982 to 1995, building McKinsey’s practice in Eastern Europe and Russia as a Director. He was previously Chair of the Overseas Development Institute (2007-10).

Lord Turner studied History and Economics at Gonville and Caius College, Cambridge from 1974-78.

The Case for Monetary Finance – An Essentially. Political Issue
Video
https://www.youtube.com/watch?v=7pZzrdpHMZs

Transcript
http://www.imf.org/external/np/res/seminars/2015/arc/pdf/adair.pdf

The Truth About Banking: Former Top Regulator Speaks Out
http://www.theepochtimes.com/n3/1895986-the-truth-about-banking-former-top-regulator-speaks-out/2/

Adair Turner's book challenges the belief that private credit is essential to growth and fiat money is inevitably dangerous. The author argues that debt needs to be taxed as a form of economic pollution because most credit is not needed for economic growth and just drives real estate booms and busts and leads to financial crisis and depression. The author also debunks the big myth about fiat money—the erroneous notion that printing money will lead to harmful inflation. He believes that policy makers need to monetize government debt and finance fiscal deficits with central-bank money to overcome the mess that is created by past policy errors.

http://live.worldbank.org/between-debt-devil

John Fullerton

Former JP Morgan Managing Director says entirely compounding interest attached money system has out grown boundaries of the biosphere and is mathematically unsustainable!

About John Fullerton;

During an 18-year career at JP Morgan, John managed multiple capital markets and derivatives businesses around the globe, and finally ran the venture investment activity of Lab Morgan as Chief Investment Officer. He was JP Morgan’s representative on the Long Term Capital Oversight Committee in 1997-98. John is currently a director of the New Economics Institute, Investors’ Circle, New Day Farms, Inc., and an Advisor to Natural Systems Utilities. He is a participant/author of the UNEP Green Economy Report. John earned a BA in Economics at the University of Michigan, and an MBA at the Stern School of New York University’s in the Executive MBA Program.


Video interview here;
https://www.youtube.com/watch?v=bnbxRW8FnT8

Transcript here;

“ I learned that a lot of what we practiced in finance through no ill intent, this is unrelated to the financial crisis, and the ethical challenges of the financial system, but that the system itself is designed to propel growth in the economic system with no regard to the physical boundaries of the planet and with little regard to the social criteria, social constraints of human well being and so it struck me that a lot of the symptoms that we talk about such as climate change obviously being on top of everyone’s agenda, but ecosystem degradation, soil degradation, biodiversity loss. All of these issues are symptoms of an economic system that is essentially bumping into the boundaries of the biosphere, and if you think about finance and even our money system, which is built on a money system which is created through expanding money that has interest associated, so as the money supply grows the requirement to service money grows at a compound rate. That forces at a systemic level the economy to continue growing which if the economy is related to material throughput eventually creates this conflict with the boundaries of the biosphere. So its been a very profound realisation and what I have discovered is that there are an increasing amount of people thinking about this question, but its very much outside the halls of conventional economics and very much new economic thinking.”

The Road To Regenerative Capitalism
https://www.youtube.com/watch?v=nHnYZ4_qQIM

Michael Hudson

Michael Hudson is a former balance-of-payments economist for Chase Manhattan Bank and Arthur Andersen, and economic futurist for the Hudson Institute (no relation).

Born in 1939, Chicago, Illinois, USA is research professor of Economics at University of Missouri, Kansas City (UMKC). He is also a Wall Street analyst and consultant as well as president of The Institute for the Study of Long-term Economic Trends (ISLET) and a founding member of International Scholars Conference on Ancient Near Eastern Economies (ISCANEE).

Economic advisor to the U.S., Canadian, Mexican and Latvian governments, to the United Nations Institute for Training and Research (UNITAR), and he is president of the Institute for the Study of Long-term Economic Trends (ISLET).

http://www.nakedcapitalism.com/2012/04/michael-hudson.html 

[9.00] Back in the 1960s, I ( Michael Hudson )was Chase Manhattan Bank’s balance of payments analyst, and my job was to focus on the Latin American countries: Argentina, Brazil, and Chile, and my job was to calculate how much of a balance of payments surplus they could generate, and the idea of the bank marketing department was the entire economic surplus could be used to pay debt service to the seven major Americam banks.

[9:40] And pretty quickly we found out that there wasn’t any surplus to pay the banks, and there was an international department that got very upset because he said “Look, I get promoted for making loans, and the real estate guys are making all the loans, you’re telling us they can’t afford to repay!” And he took it up to David Rockefeller, we went across the street to the Federal Reserve bank, and the Federal Reserve bank said “It’s in America’s interest to make these loans to Latin America. Mr. Hudson, according to your calculations, Britain can’t afford to replay any more.” “That’s right. I don’t see any way in which it can get the money to repay the debt.” And the Federal Reserve man said “Ah! But did you take into account the fact that the US Treasury is always going to lend Britain the money to pay? We will never let it go down.” I said, “Well, that’s a deus ex machina from outside the system. Yes, you can lend them the money to repay.”

Transcript of interview with Michael Hudson former Chase Manhattan Global Bank Balance of Payments Analyst - How Financial Parasites and Debt Bondage Destroy the Global Economy.
http://michael-hudson.com/2015/10/rewriting-economic-thought/

Steve Keen was formerly an associate professor of economics at University of Western Sydney, until he applied for voluntary redundancy in 2013, due to the closure of the economics program at the university.[2] In autumn 2014 he became a professor and Head of the School of Economics, History and Politics at Kingston University in London. He is also a Fellow at the Centre for Policy Development. His website contains a mountain of data of the debt situations of many nations, including New Zealand. He is also a mountain of knowledge in regards to why and how the money system funding structures of the present failed economic orthodoxy need reforming.


Nomi Prins

Nomi Prins is a renowned journalist, author and speaker. Her latest book, All the Presidents’ Bankers: The Hidden Alliances that Drive American Power, is a groundbreaking narrative about the relationships of presidents to key bankers over the past century and how they impacted domestic and foreign policy. Her other books include It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street. She is also the author of Other People’s Money: The Corporate Mugging of America, which was chosen as a Best Book of 2004 by The Economist, Barron’s and The Library Journal.
Nomi’s insights comes from having worked as a Managing Director at Goldman Sachs, a Senior Managing Director and head of the international analytics group at Bear Stearns in London, a Senior Strategist at Lehman Brothers, and an analyst at the Chase Manhattan Bank (now JPM Chase) which she joined at age 19. She holds a Bachelors of Science degree in Mathematics from SUNY Purchase, and a Masters of Science degree in Statistics and Operations Research from New York University, where she also completed all coursework for a PhD in Statistics.
She has appeared on television numerous times: internationally on BBC, RtTV, and nationally on CNN, CNBC, MSNBC, CSPAN, Democracy Now, Fox and PBS. She has been featured on hundreds of radio shows globally including CNNRadio, Marketplace, NPR, BBC, and Canadian Programming. She is featured in numerous documentaries shot by international production companies, alongside prominent thought-leaders, and Nobel Prize winners.
Her writing has been featured in The New York Times, Fortune, Newsday, Mother Jones, The Daily Beast, Newsweek, Truthdig, The Guardian, The Nation, Alternet, NY Daily News, LaVanguardia, and other publications.
Her engaging key-note speeches are thoughtfully tailored, and she has spoken at numerous venues including the Purdue University/Sinai Forum, University of Wisconsin Eau Claire Forum, Ohio State University Law School, Columbia University, Pepperdine Graduate School of Business, Manhattan College, National Consumer Law Center, Environmental Grantmakers Association, NASS Spinal Surgeons Conference, and the Mexican Senate.

She is a member of Senator Bernie Sanders (I-VT) Federal Reserve Reform Advisory Council, and is listed as one of America’s TopWonks. She is on the advisory board of the whistle-blowing organization ExposeFacts, and a board member of the animal welfare and wildlife conservation group, Born Free USA. She is currenty a Senior Fellow at the non-partisan public policy think-tank, Demos.
Nomi Prins Public Banking
https://www.youtube.com/watch?v=msgMAx1dNs0


Ann Pettifor
Ann Pettifor's work and writing has concentrated on the international financial architecture, the sovereign debts of the poorest countries, and the rise in sovereign, corporate and private debt in OECD economies. Her latest book, Just Money: how society can break the despotic power of finance was published by Commonwealth in 2014. She is well known for her leadership of an organisation Jubilee 2000, that placed the debts of the poorest countries on the global political agenda, and brought about both substantial debt cancellation, and radical policy changes, at national and international levels. In 2003 she edited the new economics foundation's ‘The Real World Economic Outlook’ (Palgrave) with a prescient sub-title: ‘the legacy of globalisation: debt and deflation’. In 2006 Palgrave published her book: “The coming first world debt crisis”. In 2008 she co-authored “The Green New Deal” and in 2010 co-authored an essay with Professor Victoria Chick: “The economic consequences of Mr. Osborne.”Her website is a wealth of knowledge in regards to the money system funding structure issue;
http://www.primeeconomics.org/ 

William Black
A financial system regulator of the highest knowledge and integrity who knows what needs to be kept an eye on.

William Black jailed 1000 odd bankers in the US back in 1980's when they committed the same crimes they did during the 2008 global mass counterfeit credit crisis - for which hardly any of the frauds have been brought to justice.

Which is the prime cause of the massive inequality in the world that is now leading to massive civil unrest.
Videos here;
With transcript
http://www.pbs.org/moyers/journal/04032009/watch.html

https://www.youtube.com/watch?v=-JBYPcgtnGE

US Federal Reserve Whistleblower Danielle DiMartino Booth.
My friend Steve Laurence has pointed me to a new financial system flaws whistleblower that is now on my must follow list.
Danielle first used her economics tertiary qualification to work on Wall Street. Then as a journalist who's acumen saw her recruited to work within the US Federal Reserve System (FED) with inner sanctum class 1 information clearance.
Danielle worked for a long while with a very small number of 'dissenters' within the FED who attempted to warn changes were needed to prevent the global financial crisis of 2008 and continued until her leaving the FED to warn of changes still needed to prevent the same inevitably happening again.
She recently (2017) published a book titled Fed Up - An insiders view of why the Federal Reserve is bad for America.
Reading this book has joined so many dots for me in regards to my global financial infrastructure knowledge.
The insight it gives into the varying roles of the New York Federal Reserve Bank over the other eleven district banks of the system.
The insight into the voting structures within the executive hierarchy.
The suppressed and opaque information channels.
This book should be a must-read for every member of any financial infrastructure sector.

It has inspired me to keep up my efforts in alerting the wider public of New Zealand to the immoral flaws of our nations present money system funding structures.

Iain Parker

There are also my own articles in regards the impact of criminal banking sector activity upon New Zealand - helped very much by having discovered and followed the works of the above linked banking insiders turned reform advocates for over a decade now;

Universal Public Credit Public Policy Submission
To whom it may concern,
Attempting to form public policy for equal economic opportunity of all citizens without a full knowledge of the function of money as invented and intended - that this submission details - is doing so by looking at 1/3 of a many piece puzzle forced together in frustrated confusion - thinking its complete - when 2/3 of the picture needed in the middle to make clear sense of it all - is in-fact one large piece that has been hidden by a self serving few to steal from wider society under false pretenses.

http://publiccreditorbust.blogspot.co.nz/2013/04/universal-public-credit-public-policy.html

The New Zealand Money System De-Fib Documentary - Giving a jolt to the heart of an ailing democracy.
https://www.youtube.com/watch?v=sqOG-b1pJRw 

A global economy based more upon thieving & killing of many for the profits of a few - than sharing & caring for the greater common good of humanity within boundaries of sustainable resources - I contest is a cancerous tumor threatening the survival of the progress of learned behaviours of common decency over self destructive animal instincts - is in great need of the checks and balances detailed in this article linked below for the very same reasons evidenced in these articles lnked below;


Social Credit with Demurrage

https://realcurrencies.wordpress.com/2013/05/18/social-credit-with-demurrage/

Re-conceptualizing Money for a 21st Century Society
http://www.dailykos.com/story/2015/01/15/1357742/-Re-conceptualizing-Money-for-a-21st-Century-Society