The Great Vampire Squid

A shameless, unasked for and completely unauthorised plug for the New Economics Foundation initiative.

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Courtesy: Marc Roberts

Positive Money, nef (the new economics foundation), and Professor Richard Werner of the University of Southampton, have just made a joint submission to the Independent Commission on Banking. The Commission will be reporting back in September 2011, and the government should – in the absence of lobbyists – be prepared to accept and implement their proposals.

What Have We Recommended?

We’ve recommended the implementation of full-reserve banking for the UK, with power over the issue of the nation’s money supply kept out of the hands of both vote-seeking politicians and profit-seeking banks. It is a proposal that could be implemented quickly (comfortably within 12 months) and that would have huge benefits for the economy as a whole. It may not be perfect, but it would be many times better than any banking system that we have had in the last 500 years. Download the submission below and let us know what you think.

Download the ICB Submission here (PDF, 1.1mb) — positivemoney.org.uk

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Courtesy: Marc Roberts

Part I

Part II

Part III

Part IV

Part V

Part VI

Part VII

Part VIII

Part IX

Part X

Part XI

Part XII

Part XIII

Part XIV

Part XV

Part XVI