London Global Open Table: 9th June 2010

London Global Table: June 9th 2010

The Global Table meets Wednesdays 12noon-2pm at the School of Economic Science, 11-13 Mandeville Place, W1U 3AJ. From Bond Street tube, turn left/west into Oxford Street, when you see GAP on the other side, cross over and go right/north along James Street – after a couple of blocks you will come to it on the left.

This Open Table monitors and encourages a wide range of activities in the realms of inclusive justice and the systemic redesign of the economic systems. The Table agreed a ten minute rule on initial contributions so that discussion of matters raised and other interests can have their share. I encourage people to report in advance the essence of any matter they wish to bring to the table. It would enhance the value of this network if regular readers of key books, journals or sites could make brief reports of any significant findings.


As both dangers and opportunities mount rapidly, we should all keep alert to companions in the way. So at the bottom I’ll add some boxes that mark particular areas of persistent activity.


MATTERS IN THE AIR …. Reminding each other of opportunities before us:


“Evolution is not random – it is a purposeful process where organisms arise and thrive in a whole system’ Bruce Lipton


1. Welcome to Ellen Brown “More States May Create Public Banks”http://www.yesmagazine.org/issues/water-solutions/more-states-may-create-public-banks latest article, posted on Truthout –Banks Profit From Near-Zero Interest Rates: Another Reason for States to Own Their Own Banks


2. Compass conference 1000 strong – Issac Stamper will be there and will report , but there may be others able to squeeze in and make their report too.


3. CEJ seminar – identifying the integrity of land and monetary reform


4. Call4Reform and the BofE Act – poised for launch


5. Economic justice for all – Leeds June 19 www.leedssalon.org.uk/fraternal-links.html


PERTINENT PICKINGS from the week ……………….


Queen’s Speech – Debate (4th Day) (2 Jun 2010) http://www.theyworkforyou.com/lords/?id=2010-06-02a.268.4&s=speaker%3A12994#g311.0 Baroness Kennedy of The Shaws: My Lords, I, too, extend my warmest congratulations to new Ministers and wish them well in their roles. Like others, I express concern at the policies that the new coalition Government are embracing to deal with the dire economic situation which our country faces. The financial crisis was the work of people in the financial sector who acted in their own self-interest without fear of either…


“The settlement of national current accounts with the world’s biophysical imbalances requires a new monetary framework based on an understanding that the noopshere is a subsidiary of the biosphere. This can come about only through the cooperation of people acting, not as national or corporate representatives, but as representatives of present and future generations and species, so that competition becomes a strategy of collective, rather than individual, survival. When commons sovereignty is vested in humanity and life, and self-interest and common interest become part of the same holarchy of being, the dichotomies between capitalism and socialism—as well as developed and developing nations—will dissolve. Nothing will change, yet everything will change. Proponents of the free market may still assert that we all share consciousness through the price system. Environmentalists may still maintain that we all share life, and proponents of social labor may still say that we all share matter. Trustees of the global commons will say that we all share minds, life and matter, and therefore, no one may own the Earth.” – James Bernard Quilligan is Chairman for the Secretariat of Global Commons Trust, and Chairman for Global Commons Affairs of the International Renewable Energy Organization.


Vince Cable is a Neoliberal Democrat | Tim Horton | Comment is free | guardian.co.uk .


Excellent poems on the work – ttp://www.youtube.com/user/robertaklinck#p/a


European Finance with a sick smile http://www.brasschecktv.com/page/856.html


Enjoy this 54 second long burst of ISM. http://www.youtube.com/watch?v=Hp4NiLhm7Tk www.slowmoneyalliance.org


Check out the Slow Money Alliance and sign their principles to get involved: http://org2.democracyinaction.org/o/6351/p/dia/action/public/?action_KEY=1637 www.youtube.com.watch?v=E96_SXUgQMW8NR=1


Are you taking part in the Finance Lab? http://thefinancelab.ning.com/ This a piece from the FT which refers to a ‘secret’ IMF report outlining proposals for regulating, reforming or taxing banks. I’ve hardly looked at it, but the Swedes are evidently introducing a levy on the loans on bank balance sheets. I concluded that this was the nearest approximation to capturing seigniorage in the current economic set up. The report is here:- http://media.ft.com/cms/ecc84e08-4d25-11df-baf3-00144feab49a.pdf


www.Call4Reform.org is a UK-wide campaign to reform the financial system. We have one request – that the power to create money is taken away from profit-making entities (the high street banks), and returned to the state. Doing so would allow us to: phase out the national debt, saving £100 million per day in interest costs – reduce the tax burden by up to 30%, permanently, or increase government services with no increase in taxation – Save 60% on the cost of public infrastructure projects (such as schools, hospitals and public transport), by removing the need to borrow this money and pay interest over 30 years – Significantly reduce the risk of future financial crises – Significantly improve the stability of the banking sector, protecting depositors and the taxpayer – Create a more stable currency and consequently a more stable economy


NEWS OF MAJOR STEP FORWARD www.bankofenglandact.co.uk/


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