Mutual Banking…

I think it is worth drawing attention to the latest newsletter of the South West Mutual – a fledgling co-operative bank that is trying to establish itself as the first such institution in the UK. Those that consider we have already a Co-operative Bank are obviously correct – but not in reality – as it… Read more

Too busy in the City – versus the advantage of local banks

There is an interesting new interview from Renegade Inc with Professor Richard Werner: Presenter, Ross Ashcroft quotes: “As the Russian Proverb goes: There is nothing more permanent than a temporary solution.”  And that is Quantitative Easing (QE), which term of course Richard Werner invented. But now, more important, I’d suggest are his ideas on local… Read more

Banks lobby hard for government money

There is an informative chart produced by Positive Money in one of their recent articles, showing the number of Treasury officials’ meetings with lobbyists by sector: Banking had more than 17% of all meetings, or more than 25% if you include the corporations (‘companies’) many of which are financial (Greensill is a good example), while… Read more

The working and shirking classes…

I thought this ‘i’ article well observed: Rather, it is symptomatic of a much more deep-rooted change in Britain, with rising numbers of home-owning aspirational voters in originally industrial areas. It is symptomatic of the detoxification of the Conservatives, with the passing decades reducing the number of people who remember the depth of hatred of… Read more

Bankers’ currency and Conservative deceptions

I enjoyed Jim Osborne‘s comment mentioning what he called “bankers’ currency”. Clearly bankers’ currency is what all currency now is. The only ‘recent’ example of currency that was not (but was in fact the Treasury’s rather than the bankers’) is the short-lived Bradbury’s. It showed that we do not actually need the bankers to produce… Read more

Keir Starmer inches towards radical finance ideas

I was certainly delighted that Keir Starmer suggested ‘Recovery bonds’ as a method – in order to, well, recover from the Covid hangover. Yes, most on Progressive Pulse know that government creates money out of thin air so never needs bonds. But others of us might like bonds in order that those savings might earn… Read more