12-2 at SES * As well as items on that general list on the site above, we will ensure we attend this Wednesday to these items at least:

1. ‘OCCUPY’ – Richard Werner at Uni. Tent and further reports and action –

2. Ten days of seminars led by James Quilligan May 8-18 2012 – latest developments

3. The Finance Innovation Lab’s new Disruptive Finance Policies Project

4. High Pay Commission, Rory Bremner and Bretton Woods latest – Jasper

5. Please read ‘Debt and Democracy: Has the Link been Broken?’ Prof. Michael Hudson
http://www.globalresearch.ca/index.php?context=va&aid=28076 on Oligarchies and Democracy

6. Mortenson’s 1hr 11min on Exponential debt growth

FROM EXPLOITATION TO INCLUSIVE JUSTICE

To indicate how from the principle of ending exploitation, and especially its financial form of ‘usury’ on money bearing compound interest issued by commercial banks, and the passing of location value to rentiers rather than to the community that created it, certain basic aspects of restructuring in the financial system are required.

As all people of good faith reassess their contribution to public truth these suggestions should be seriously studied by intra-disciplinary bodies:

Principle: Good faith in any tradition must be universal – that is, serving justly people and the planet.

To develop that principle, some major systemic changes are needed, urgently:
– Return to publicly created money – end issuance of new money bearing interest by commercial banks
– Return location value created by the community to the community – not to rentiers
– Introduce a new form of material wealth’s inclusive distribution – so that consumers and producers are the same people
– Respond to the mantra that ‘the first call on a nation’s wealth should be a basic income for all citizens.’
– Rescind laws creating ‘corporate personhood’ and the primacy of returns to directors and shareholders
– Educate people to understand that Social, Solar and Material Commons are more fundamental than traded commodities
– Renew the priority in human capital of investing before all else
– Democratise the Corporation of the City of London

Behind these brief indicators serious studies and proposals are available for intra-disciplinary appraisal.
We seek a practical workable post-capitalist ecological economy, an economy by the people, for the people that is geared to production for need, not for profit, other than the dichotomy of all state versus all private. This is to make a principled distinction between what is naturally private property and what is the common wealth of all. Two complementary aspects of this are emphasised.
1. Recognising that the money system is naturally a social institution whose benefits should naturally be enjoyed by all.
2. A recognition of the distinct economic role of land.
For any individual access to land or natural resources that society bestows there is a corresponding duty to make a return commensurate with the privilege. These two policies combine a community-based issuance of money and government revenue based on land and resource rents.

NOTE: ‘THE PROCLAMATION OF JESUS CHRIST AS THE CRUCIFIED AND RISEN LORD AND THE CONFESSION THAT JESUS CHRIST IS LORD HAVE BOTH A INTIMATE AND COSMIC IMPLICATION. WE CANNOT CONFESS JESUS CHRIST IS LORD WITHOUT SERIOUS CONSEQUENCES FOR THE ORDERING OF POLITICAL AND ECONOMIC RELATIONSHIPS AND THE HARMONY IN WHICH HUMANKIND LIVES AS A PART OF THE WHOLE CREATION. Anglican Mission Agencies. Brisbane 1986

Peter

“Deny the wisdom of ending usury and the eco-system dies” Buchan

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Dear Peter,
Thank you so much for taking part in the Local Banking conference last week. It was a productive and lively start to developing the case for a more diverse banking system, and the ideas and examples which came out of the day will underpin the next stage of our research into banking reform. If you have any feedback on the format or content of the day, please email it to events@neweconomics.org. Some of the materials from the event can be found on our website along with some podcasts from our speakers at:
http://www.neweconomics.org/blog/2011/12/15/how-to-create-a-local-banking-system
There is clearly agreement across a wide spectrum of experience and opinion that the productive economy has been ill served by the current banking system. In the New Year nef and the Good Banking Forum will be making the case for a local banking system as a necessary part of the solution. We would be happy to receive any further ideas you have in this field, particularly if you are trying to set up a bank or credit union.
If you’re interested in attending future nef events and receiving updates on our research you can sign up to the mailing list. You can also view the Good Banking Forum website at http://goodbanking.org.uk/
Thank you again for your interest and support.
Kind Regards,
Stewart Wallis, Executive Director, nef
Tony Greenham, Head of Finance and Business, nef