Ole Bjerg is an Associate Professor of Copenhagen Business School. He identifies beautifully the critical aspects of the creation of money:

1. the difference between
   • Paper Money [Cash – about 5% of the money supply] and
   • Electronic Money [Credit – about 95% of the money supply]
2. the negative consequences:
   • instability
     • banks issue money when the economy is booming and hold back otherwise;
   • inequality
     • interest is a ‘tax’ on money
     • with growing inequality based on the level of interest rates
   • concentration of power
     • how much money?
     • at what price?
     • for what purpose?
3. Hence politicians appear to be impotent, as decisions are made in board rooms of banking institutions – outside democratic institutions.
   • the smart solution is an update of what Central Banks do with respect to PAPER money to INCLUDE electronic money;
     • all citizens should have accounts with Central Banks!
   • Commercial banks continue to
     • take deposits and lend it
     • as a LINK between people who save and who borrow.
4. This is a SOVEREIGN system of money creation – reminding citizens to
   • understand the creation of money
   • participate in the political process of deciding WHO creates money.

This interview with Clif High illustrates an ‘interesting’ state of knowledge or the absence of understanding the essence of the original purpose of ‘currency’ as ‘money’ to facilitate trade:

1. accumulating material wealth is priority;
2. ‘currency’ is not a medium of exchange but a ‘store of value;
3. electronic ‘coins’ are being created for that very purpose – preferably by web bots.

‘Money’ is clearly a cultural construct. And the money buyers and sellers have their own language that Clif High likes to analyse – as  ‘predictive linguistics’.

From the positive point of view:

• “party on” – electronic currencies show how ‘hot air’ is behind the creation of money rather than real transactions;
• ‘money’ has gradually ceased to be a ‘medium of exchange’ the more ‘debt-based money’ was introduced via governments who had to borrow money for national debts and public borrowing interest payments;
• electronic currencies are a ‘digital response’ to ‘fiat money’ created from hot air.

The next video talks about the dying system:

• it’s about gold vs dollar;
• electronic currencies can NOT be manipulated by stock exchanges;
• 2008 was an ‘eletronic run’ on the banks;
• the world has become a ‘banana republic’;
• Google et al are trying to silence the Truth!

All roads lead to the criminal banks!

All roads lead to Wall Street and the City of London!

Anybody who is interested in TRUTH, do keep YouTube channels alive!

They cannot challenge the logic – their only alternative is to silence…

Presumably it turns out to have been an organised plan – hatched at a Bilderberg meeting…

The Forum for Stable Currencies

Since we organised meetings at the House of Lords and Commons, we made so many connections among victims of bank and judicial fraud that I created a whole list of websites:

• first men who had created businesses and were bankrupted;
• then families whose homes were re-possessed;
• and finally the mothers whose children were kidnapped by the state’s institutions – all in all 33 sites promoting and advocating Open Justice.

When I met Lord Sudeley for the first time, I remember saying to him: when we heal your family, we will heal your nation… Today I received this email from him:

“Much new ground was broken on our bankruptcy in the paper by Dr Stanley Chapman, author of The Rise of Merchant Banking, in The Sudeleys – Lords of Toddington, published in 1987 by the Manorial Society of 104 Kennington Road, London SE11.

Further advances are given in my 10-page paper, just published in the Transactions of the Cymmrodorion Society, together with its Ancillary Memorandum. The Enterprise Act has mitigated the harsher effects of the old cardinal rule in business that liquidity or cash flow is more important than capital. And now we may understand more clearly how under Slow Payment of our debt which arose put of the agricultural depression there would have been no bankruptcy.

Looking ahead, perhaps not enough headway is to be anticipated over the eradication of usury, which was the root of our trouble, since usury has become too ingrained in our monetary system. More headway might be expected however over the unsatisfactory character of banks guarantees, which reduced without in the end altogether eliminating the fourth Lady Sudeley’s Tollemache inheritance.

Important elements are still missing from the full story of why Lloyds Bank destroyed us by filing their petition for bankruptcy. From Gregynog Lady White (for many years Eirene White MP) was an experienced and much respected Parliamentarian who felt that 70 years was about the right interval of time after which Lloyds Bank should have disclosed more information. As yet her expectations have been unfulfilled- and the recent election of Neil Hamilton to the new devolved Welsh Parliament might be a lucky break for us. It was the intention of Neil Hamilton, soon after the publication of Dr Chapman’s paper, to introduce an Adjournment Debate about it in the House of Commons.

Ancillary Memorandum

(Lord Sudeley’s fresh article on the Sudeley Bankruptcy of 1893, just published in the Transactions of the Cymmrodorion Society)

This article is concerned principally with our estate of Gregynog in Powys (now part of the University of Wales) where by the end of the nineteenth century, when our bankruptcy took place, most of our land had come to lie. Back in 1985, at our older estate of Toddington in Gloucestershire, I held a public conference on the history of our old family, which had held Toddington since 1042, and is descended from early mediaeval royalty. (Under the title of The Sudeleys-Lords of Toddington, the proceedings of this conference have been published by the Manorial Society of 104 Kennington Road, London SE11). The star paper at this conference which caught the attention of the media was the one to mark the end of our story on the controversial and spectacular bankruptcy in 1893 of my great-grandfather the fourth Lord Sudeley, delivered by Dr Stanley Chapman, author of The Rise of Merchant Banking, and an economic historian of international reputation.

To try and help Dr Chapman, I asked the Chairman of Lloyds Bank, Sir Jeremy Morse, for more information on why Lloyds Bank filed a petition for bankruptcy against the fourth Lord Sudeley. The denial which Morse gave of having any more information was the subject of a leading entry in Kenneth Rose’s Albany Column in the Sunday Telegraph.

Though the Adjournment Debate on the bankrupcy in the House of Commons to have been introduced by Neil Hamilton MP did not happen, we have still Lady White’s opinion that the bankruptcy merits a debate in the House of Lords on the keeping and disclosure of banks’ records. In her view Lloyds Bank should have disclosed more information 70 years after the event, which takes us roughly up to the year 1960 when I came of age. Soon I will be approaching my 80^th birthday, so a breach of the bank’s secrecy is long overdue.

A fresh public airing of our case has been made more than timely by those provisions which I describe in my article of the Enterprise Act to make sure that what Lloyds Bank did to us in 1893 cannot happen again. The aristocracy is not supposed to understand money very well, so any tips on how I should draft my letter to the present Chairman of Lloyds Bank would be much appreciated. The reply from the Chairman could justify the issue of the Sudeley Bankruptcy being raised once again in Parliament. It may be a lucky break for us that in 2016 Neil Hamilton was elected to represent UKIP in the new devolved Welsh Parliament. In the House of Lords two peers who might usefully be approached are the fourth Lord Sudeley’s descendant Lord Brookeborough, or the eminent lawyer Lord Carlile of Berriew who used to represent Gregynog’s constituency in the House of Commons.

My letter should cover the following points.

ONE. Our debt caused by the agricultural depression was covered twice over by large assets, and there is no doubt how much Lloyds Bank was at fault in filing their petition for bankruptcy to force the payment of our debt on the nail which resulted in a foreclosure with all of our assets reduced overnight to decimated value. If we had been given the opportunity for Slow Payment of our debt through a series of ordered sales under which such of our assets as had to be sold would fetch their full and proper value, our creditors could have been paid in full and we would have kept the other half of what we had.

TWO. Just as happened to us, creditors still enlarge their claims because they are not independently and adequately audited. Top accountant Christopher Arkell advises of the existence of a similar contemporary case arising out of a dispute between the Inland Revenue and a cafe near Heathrow Airport. Thought needs to be given to how to circumvent the bankers’ objection there can be no audit because there is nobody to pay for it.

THREE. Lloyds Bank appears not to hold a copy of the fourth Lady Sudeley’s Guarantee of her husband’s loan from Lloyds Bank. Were the full implications of the Guarantee, which was a dangerous document for her to have signed, ever properly explained to her? There are bankers who tell us any explanation is useless because their Guarantees are invariably worded to ensure the bank takes it all in a way which may be deeply offensive to public opinion.

If the fourth Lady Sudeley’s Gurantee can be found, Dr Andrew Campbell of the Department of Law at the University of Wales in Aberystwyth who specialises in the wording of Banks Guarantees may help us to understand it. The Guarantee may explain the statement given by the fourth Lady Sudeley’s daughter Ida Whitbread in her memoir My Golden Childhood that more of her mother’s substantial Tollemache inheritance was saved than had at first been anticipated.

FOUR. Published in an Appendix in The Sudeleys – Lords of Todington is an entry from the Board Minute Book of Lloyds Bank of 6 November 1893 which records how the General Manager reported that the fourth Lord Sudeley’s Deed of Assignment with his creditors which the Bank has not signed will take effect upoon a date this month, 3 months after registration, unless the debtor is made bankrupt. Does this mean Lloyds Bank would not allow Sudeley pay his own debt in order that he could be made bankrupt?

In my article I make the bold conjecture that the motivation for the petition for bankruptcy from Lloyds Bank was not economic but political, originating in the long standing quarrel which arose within the Whig or Liberal Party between Joseph Chamberlain and the fourth Lord Sudeley’s principal creditor, the Grosvenor Lord Stalbridge, who was the party’s Chief Whip and Treasurer. Over disagreement with Gladstone’s policy of Home Rule for Ireland, Stalbridge did not follow Chamberlain into the Conservative Party, and through Lloyds Bank and their petition for bankruptcy Chamberlain evicted him from politics. The dated document recording Stalbridge’s loan to the fourth Lord Sudeley is amongst my papers deposited at the Gloucester Record Office.

My conjecture is not original, and received a very special welcome from the reader of my manuscript for the Editor of the Transactions of the Cymmrodorion Society. Because the Establishment was still very powerful, Chamberlain would have had to play his cards close to his chest.We may therefore experience trouble from the lawyers, who will argue that my conjecture has to be useless because it cannot be proved. But science shows us well enough how the dependence of lawyers, who are not always practical people, upon proof may be wrong. Often doctors are there to provide the right answer which cannot be proved. When I became ulcerated, my doctor was convinced without being able to prove my ulcer was due to the stress induced by my first wife’s schizophrenia. Upon separation from my wife my ulcer disappeared. To provide a further example, we enjoy the benefits of radar notwithstanding scientists have no knowledge of the natural law in physics whereby it comes into operation.

It may help to try and engage the interest of the head of the Grosvenor family, the Duke of Westminster whom I do not know. I believe it would be best to approach the Duke sideways through our cousins the Brookeboroughs. The fourth Lord Sudeley’s grand-daughter Cynthia Sergison married the first Lord Brookeborough, Prime Minister of Northern Ireland from 1943 till 1963, whose home and estate lie in Co.Fermanagh. The Duke of Westminster also has a home and estate in Co.Fermanagh, so it is not unlikely the two families have known one another rather well.

FIVE. Any denial from Lloyds Bank of holding more information about the Sudeley Bankruptcy has to be put into the context of the privilege private banks have enjoyed of being in total control of their own records. Of late Lloyds Bank may have lost that privilege through being owned in part by the Government which is answerable to the taxpayer. Such a remission may not last for very long. . The percentage of ownership of Lloyds Bank by the Government has already been reduced to 12%, and soon will be reduced still further. Where banks are reluctant to disclose information the Independent Banking Advisory Service calls for the use of proper search powers such as are held by Customs and Excise- and when his term of part ownership by the Government has expired, I can still ask the Chairman of Lloyds Bank whether he would agree with the Secretary of the Historical Manuscripts Commission that any draconian approach to the reluctance of banks to release information can lead only to the concealment and early destruction of the records which it is sought to preserve.

Because the Bank of England which exercises a supervisory role over private banks is to be distinguished from them through being an instrument of the Government, a Bill should be promoted in Parliament to say that after a suitable period of time its records should be released like any other sort of public record.

SIX. Should the provisions of the Enterprise Act, allowing for Slow Payment of a debt instead of payment on the nail, entitle us to retro-active justice? The rejoinder of the Chairman of Lloyds Bank would be that there are too many similar cases for that to happen. But should an exception be made for our case because our bankruptcy appears to have been not economically but politically motivated? Any retro-active justice would have to imply the recovery of Toddington.

Toddington was personally designed by the first Lord Sudeley, Chairman of the Commission for the Rebuilding of the Houses of Parliament, and is its fore-runner. Being of the wrong period, that of the Gothic Revival, its importance as an architectural monument has suffered from undeserved neglect. For about a quarter of a century before its purchase by the contemporary artist Damien Hirst, Toddington was without any owner accepting responsibility for its upkeep,therefore a great worry to conservationists. After his purchase of it, Hirst shrouded Toddington in scaffolding to restore its sculpture; shortly afterwards he stopped work on restoration whilst leaving the scaffolding in situ because he has bought the scaffolding company; and his interest has shifted towards the development of a fresh domicile in Regents Park. And his estate is about to be reduced substantially by a settlement for divorce. Once again Toddington may be left without an assured future.

Should Toddington be restored to the family which built it, the stirrup cup will be served in the Reptonian park on Boxing Day for the meet of the local hunt.

It refers to Anatole Kaletsky writing in The Times and highlights the fundamental problems that have NOT been addressed since either:

1. unelected Central Bankers rule by controlling currencies and their relative values;
2. national governments BORROW at INTEREST from private bankers;
3. government bonds are one of the financial tools that provide passive income.

As a consequence, money has long ceased to be a ‘medium of exchange‘ but has become a ‘tool to control‘ as part of everything that’s dishonest about our money system.

Financial markets and their customers have become clearly more influential than elections and their voters – in the general hype of the media, where the goal is deception just as in George Orwell’s 1984. 

Let’s face it: the overriding agenda is one of long term thinking AGAINST we, the people – despite all the short-term rhetoric via mainstream media and mis- and dis-information on social media.

But we need to wake up to it, one person at a time: on our own, by ourselves – thanks to the internet!

With many thanks to Paul Talbot-Jenkins of Force for Justice.

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It takes a ‘niche interest’ to want to study how the world has been duped and deceived into what’s so dishonest about our money system. 

And it takes a historian who wants to know the truth:

Yuri Rubtsov is a doctor of historical sciences, academician of the Academy of military sciences, and member of  the International Association of historians of world war II.

The result is this article:

• Hitler was financed by the Fed and the Bank of England.

An excellent time line of four roughly 5-year stages, starting 1919, and an important account of the key players in finance and in industry.

There is hope!

1. Where to Invade Next by the most wonderful Michael Moore from Flint, Michigan – based on ‘what ifs’ that could all become possible;
2. The Big Short by American Adam McKay – based on the reality of the financial crisis in 2008-2009.

This email from David Pidcock makes the link to the UK Bradbury Pound as the MODEL for GOVERNMENT rather than BANK issued money as the basis for dishonest money in circulation:

“HONESTY, EVEN IF DEEMED STUPID, IS A FAR BETTER BASIS FOR FINANCE, THAN THE MOST ADROIT FINESSE”

H.M. SECRETARY TO THE TREASURY JOHN BRADBURY WHO ISSUED £500,000 TREASURY NOTES TO SAVE THE BANK OF ENGLAND FROM BANKRUPTCY IN 1914

The Big Short

In 2008, quixotic hedge fund manager Michael Burry spots the credit and housing bubble is about to burst and he bets millions against the American economy. Other financial wizards get wind of the deal including deeply cynical hedge fund manager Mark Baum and his team. Inexperienced investors Charlie Geller and Jamie Shipley use personal ties to retired banker Ben Rickert to orchestrate their own high risk bets as financial authorities ignore warning signs and Lehman Brothers prepares to fall.

Seen that movie? Leave a comment / review here >>

LondonNet Film Review
The Big Short (15)

A fool and his hard-earned money are soon parted and in 2008, many of us turned out to be unwitting fools when the mortgage crisis in America catalysed the collapse of financial institutions, resulting in an ice age of global austerity that has yet to thaw. Bankers were demonised, political establishment passed bucks as if they were handling red-hot potatoes and hard-working families paid an eye-watering price. The Wall Street meltdown don’t sound like ripe fruit for a cocktail of potty-mouthed hilarity and heartbreaking drama but Adam McKay, director of the Anchorman films, begs to differ…

Stepping away from the dim-witted Will Ferrell comedies that have made his name, McKay draws inspiration from Michael Lewis’s non-fiction account of the housing and credit bubble to dramatise the incredible true story of the men, who made a killing by wagering against the US economy. “While the whole world was having a big ol’ party, a few outsiders and weirdos saw what no one else could,” explains sharp-suited narrator, Jared Vennett (Ryan Gosling), a bond salesman at Deutsche Bank with a keen nose for profits. He is our wise-cracking guide to this high pressure world of bulls, bears and multi-million dollar trades.

However, Jared is not the first person to spot impending doom. That honour goes to quixotic hedge fund manager Michael Burry (Christian Bale). “It’s a time bomb… and I want to short it,” Burry informs his incredulous boss (Tracy Letts) and bets against the housing market. Jared gets wind of the deal and follows suit, drawing in deeply cynical hedge fund manager Mark Baum (Steve Carell) and his team: Danny Moses (Rafe Spall), Porter Collins (Hamish Linklater) and Vinnie Daniel (Jeremy Strong). Inexperienced investors Charlie Geller (John Magaro) and Jamie Shipley (Finn Wittrock) use personal ties to retired banker Ben Rickert (Brad Pitt) to orchestrate their own high risk bets as financial authorities ignore warning signs and Lehman Brothers prepares to fall.

The Big Short is a blisteringly funny and provocative portrait of irresponsibility, fraud and gaudy excess, brought vividly to life by a superb ensemble cast. Carell and Bale shine brightest in the glittering firmament, imbuing their socially awkward oddballs with vulnerability and regret. McKay’s film is acutely aware that most of us don’t speak the Wall Street lingo so the writer-director cutely interrupts the wheeler dealing with glossy edutainment spots. Wolf On Wall Street star Margot Robbie sexes up subprime mortgages while sipping champagne in a bubble bath, celebrity chef Anthony Bourdain explains a collateralized debt obligation (CDO) using leftover seafood, and actress and singer Selena Gomez makes sense of synthetic CDOs over a game of blackjack. We might not always keep up with McKay’s dazzling film and its rapid-fire, whipsmart dialogue but by the end credits, we’re not far behind.

– Jo Planter

London Cinemas

2016 OSCAR &BAFTA Nominated:
5 OSCAR nominations, including Best Picture, Best Director and Best Supporting Actor
5 BAFTA nominations, including Best Film, Best Director and Best Supporting Actor

It’s 2005, and the housing market is booming. But four outsiders see what no one else can: the whole thing is a time bomb. ‘The Big Short’ is their story.

People were buying houses they couldn’t afford, with money they didn’t have, which they borrowed from banks that were negligent and greedy. Four men realised a crash was coming, and bet against the American economy to take on the banks. And make themselves rich as well, of course.

The true story of a crisis we’re still reeling from, ‘The Big Short’ boasts an outstanding cast including Christian Bale, Brad Pitt, Ryan Gosling and Steve Carell.

NOTTINGHAM AND ACROSS THE UK

NO NEED FOR GOVERNMENTS TO BORROW FROM CROOKED OR STRAIGHT BANKERS

THEY ONLY NEED TO CREATE WHAT THEY NEED

• FREE OF DEBT AND INTEREST AND, THEREFORE,
• FREE OF THE NEED TO RAISE REVENUES THROUGH TAXATION AND OR PUBLIC SECTOR BORROWING.

http://archive.org/details/TakeYourMoneyOutOfTheBank/:D

This newsletter

MATTERS IN THE AIR: February 3rd 2016: in which all may share as our networking prospers the cause of inclusive justice… visit the website to view the evolving agenda for the next meeting: http://www.globaltable.org.uk.

DISCUSS MOMENTUM  and other introductions to rethinking our voting systems and their potential

FORTHCOMING EVENTS: See http://globaltable.org.uk/wp/forthcoming-events

ELLEN BROWN : our associate is the Speaker at the RSA on Wednesday 17 February 2016 – Why We Should Own the Banks – 1.00pm – 2.00pm – RSA, 8 John Adam Street, London, WC2N 6EZ – https://www.thersa.org/events/2016/02/why-we-should-own-the-banks/.

REPORTS: always invited our associates in the quest for inclusive justice. Then a discussion: Those who can’t join us on a Wednesday – send us your comments and reports of your action.

On Thursday 21st January, Ann Pettifor appeared on Al Jazeera, with Vicky Pryce, chief economic adviser at The Centre for Economic and Business Research, and Anastasia Nesvetailova, director of the City Political Economy Research Centre at City University in London. They discussed why the global economic system lurches from one financial crisis […] Latest post at  “http://www.debtonation.org/2016/01/is-the-global-economy-headed-for-another-crash/

The Davos Club: Meet the People Who Gave Us a World in Which 62 People Own as Much as 3.6 Billion – Vijay Prashad, AlterNet: http://act.alternet.org/go/67630?t=4&akid=13900.52628.6x8BEW

John Perkins for 2016 and new book: The New Confessions of an Economic Hitman. Featuring 15 explosive new chapters, this expanded edition of the classic New York Times million-copy bestseller brings the story of economic hit men up to date and, chillingly, home to the United States. It also gives us hope and the tools each of us can use to change the system. To pre-order your copy: http://www.amazon.com/The-New-Confessions-Economic-Hit/dp/1626566747

Kosmos Journal: January 12, 2016 – New Governance | The Future of Power Newsletter –http://www.kosmosjournal.org/newsletter/2016-01-12/

Switzerland to vote on banning banks from creating money http://www.telegraph.co.uk/finance/economics/11999966/Switzerland-to-vote-on-banning-banks-from-creating-money.html

This is Your Century: A short beauty to set us on our way into 2016: https://vimeo.com/143685854 –

WE CONTINUE REFLECTING on the value of these three perspectives in our quest for inclusive justice. Inevitably there is overlap between each mode of approach. Each and all add richness to our searching:

1. The Christian Council for Monetary Justice [CCMJ] – examining enduring wisdom and contemporary evidence about money and its effect on society – utilising resources of the enduring wisdom like current evidence, scriptures, histories, valued publications http://www.ccmj.org
2. London Global Open Table [LGOT] – providing an open forum for serving a wider network with a point of weekly reference. All are welcome to send items for ‘Matters in the Air’ to indicate where our dialogue and action might take in this particular week: http://www.globaltable.org.uk/wp
3. Trustees All: The Independent Constitutionalists UK – advocate and advance a targeted initiative by ‘principled pragmatism’ to take viable, if difficult, steps towards weaving politics and economics – governance and vital trading – into a People’s Political-Economy of Trusteeship in Harmony with Nature. Travel the new path via the 2020 [or earlier] General Election. The ICUK’s Manifesto and Charter provide an incremental, imperfect process of evolving a People’s Political-Economy of Trusteeship in Natrual Harmony : http://ww.constitutionalists.uk

Reality is Natural Inclusiveness – is there not resonance there ‘with the panentheistic love of God’ so strongly affirmed by all the major faith traditions? – in all bit parts, ubiquitous energy, creative dialogue suffuses the cosmos. Some nutshell it so simply in ‘Love both God and every Neighbour.’ It’s not as simple as that sounds, so a big question hangs over us in that tough and honorable pursuit. Do you stone the devil while on retreat, or love your enemies on every street, the one too easy, the other so, so hard?