London Global Open Table: 8th September 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 straight into Mandeville Place – you will come to No. 11 as last on the left.


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

Welcome to those present. This week – Richard Nelson with an update on his pioneering work.
IMPORTANT AND URGENT NOTICE Contact details of the Independent Commission on Banking. We would be pleased to receive your views on the issues the Commission should be addressing.Independent Commission on Banking

Post: Feedback, Independent Commission on Banking, Victoria House
Southampton Row WC1B 4AD

1. Subjects raised by those attending and opportunities before us that need encouragement. Failure of some funding bids [‘There is no such thing as funded revolution’!!]

Details sent last week.

3. CCMJ Annual Meeting Oct 23rd ‘How fares the World with usury? An invitation is extended to anyone who wishes to write 250 words in relation to the title.

4. A long CEJ report – a chance to look at this idea, to collect the economic rent using Land Value Covenants? I ask because it has a direct relevance to money reform that traditional Land Value Tax does not have. I beg your indulgence here?
CEJ believes that the creation of money is integral to land tenure and cannot be separated. Indeed privately created money is the latest, more insidious form of enslaving the people by denying them access to produce from natural resources. More insidious even than chattel slavery or industrial slavery. We now have wage/debt slavery!
Take a quick read of these extracts from the latest edition of Land & Liberty. .
Robin Smith, The Systemic Fiscal Reform Group
“Beyond substituting property taxes, LVCs can facilitate restructuring of the banking and monetary system, housing finance, general taxation and welfare. Emergency reforms are essential to prevent catastrophic breakdown of these systems. Top priority is the voluntary settlement of mortgage debt in exchange for LVCs, paid for by the issue of special debt-free, interest-free Treasury Notes, thus reclaiming the sovereign right to issue money from the banks.”
“Henry George points out how…”These obvious considerations have everywhere, as society became well organized, led to the recognition of the coinage of money as an exclusive function of government.”
George does not ignore the fact that such power has been abused in times past as monarchs and governments have sought to enrich their exchequers by such practices as dipping and debasing their nation’s currency. Rather he regards the transparent risks involved in governmental abuse, where they have direct responsibility for the issue of currency, to be less than those that attend the more obscure regulation of private individuals and groups, who are granted such a privilege.
George considered it wrong and dangerous to permit individuals and associations (i.e. private banks with a pecuniary interest) to issue money. He argued that doing so had a corrupting influence on government (due to the need for regulation) and occasioned a substantial financial loss to the general population. No doubt recent events concerning the regulation of banks and financial institutions by government agencies would have reinforced his concerns and provides much evidence to support this view.
George concluded that the issue of money and the control of its supply is the exclusive business of Government.
The legitimate business of banking is limited to the safe-keeping and loaning of money, and the making and exchange of credits.”

5. Engagements with Quaker@Business Gp, Global Cooperative Forum and Coop Party

6. Keep abreast of Call4Reform campaign Call4Reform

7. Finance Innovation Lab holds 2nd assembly this Friday. Ben Dyson, Peter Challen attending among 147 others!!

8 Keep in touch with the Forum for Stable Currency’ present activities


The Matrix – Robin Smith on artistic modelling of our dilemmas and opportunities

Tony Benn one the speakers at the Southwark Cathedral Justice 11 and Development Group Public Forum Tuesday 14 September 7 – 8.30pm Cathedral Library. ‘Markets and Morals Whose responsibility – the City or Society’ Other speakers will include Tony Greenham Head of Business and Finance, ‘New Economics Foundation’ and Clark McGinn, a senor banker and writer. All are welcome. There is no charge admission.

Old Economics New Economics- Spratt and Wallis Oct 2010

Janos Abel writes :Albus’s book should be required reading for all environmentally concerned activists. No measure aimed at saving our world from our folly can succeed unless the destructive economic practices are abandoned.-
Preface and last chapter herewith

Ellen Brown posted on Yes! Magazine — “Homeowners’ Rebellion: Could 62 Million Homes Be Foreclosure-Proof?”
See also

In a Nutshell – causes behind symptoms – Dave Ewoldt, August, 2010

Note that ‘Matters in the Air’ for the following Wednesday fall into place as matters arise and can be seen at each stage on
Let Peter know if you have anything to add or ask.


Global Collapse of the Fiat Money System: Too Big To Fail Global Banks Will Collapse Between Now and First Quarter 2011 When Quantitative Easing Has Run Its Course and Fails – Matthias Chang from Global Research, August 31, 2010

A world in Collapse ??? Robert Jensen is a professor in the School of Journalism at the University of Texas.


Dean Baker – Co-Director of the Center for Economic and Policy Research
August 20, 2010 When Wall Street Rules, We Get Wall Street Rules