London Global Open Table: 14th April 2010

12-2 at the SES

Possibly attending – John Courtneidge [Canada]; Robin Upton [Bangla Desh]; Ben Curtis.  Greetings from Margaret Oluk.

1. Those attending the Table recently have been discussing a case for Interest-Free Credit. They argue that, given the acceptability of monetary reform per se, interest-free proposals are preferable to the debt-free issuance of currency for several reasons : 

1. Debt-free issuance may lack monetary discipline (moral hazard) since there is nothing (or less) to stop a profligate state rearming or building luxurious palaces for officials etc.
2. Debt-free issuance, since it is fiat currency that remains in circulation, may fall prey to the tendency to hoard and thus form circulation blockages.
3. In the realpolitik of the political process, debt-free issuance threatens many vested interests and is too revolutionary. Less likely, therefore, to develop necessary consensus.
4. Resonates with ethical principles of the major faiths.
5. It may be possible to have some debt-free issuance (if, for instance, interest-free measures prove to be deflationary)

Your comments are welcome.

2. Finance Innovation Lab – Report

3. Against Usury – resolving the economic, ecological and welfare crisis.’ and other publications – Report

4. Bank of England – Report

5. The Network Project – report

6. The Coming European Debt Wars – EU Countries sinking into Depression – By Prof. Michael Hudson>

7. COER and Call4Reform collaboration

8. June 24th CEJ /NEF/Equality Trust extension in collaboration seminar

and so much more as opportunities abound………