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

‘Term Funding Schemes’ updated – a quick fix?

There is something called the Term Funding Scheme, which was an initiative to ensure the passing on to commercial borrowers of the Bank of England’s recently lowered rates. There is now another scheme, called the Term Funding Scheme with additional incentives for Small and Medium Enterprises (SME)s, which is orientated especially towards small companies and… Read more

The Bank of England was founded on making money out of money

Going back to Christine Desan’s interview I think we can also take some interesting further conclusions: In creating the institution of the Bank of England not only was a Private Public Partnership created but also a mechanism for creating private money which had previously been the privilege of only the money created by the state… Read more

The original motivation of Christine Desan may be indicative…

……and even probably many of us all and perhaps of some of society in general…Christine Desan in discussing her book said she initially “majored in religion and sociology of religion”. The book itself ‘Making Money: Coin, Currency, and the Coming of Capitalism’ is unfortunately expensive to buy but at least it is cheaper as a… Read more

‘Moneyness’ – first impressions…

I’m certainly intrigued by this ‘Moneyness’ concept by Christine Desan outlined in The Monetary Structure of Economic activity. It effectively highlights what the City of London wants – while all the while suggesting that they are (allegedly) influential in ensuring that we all lack sufficient quantities of it – that is, money. In fact, the… Read more