I’m half way through reading Detlev Schlicter’s excellent book Paper Money Collapse, when I came across this….
A group of independent traders in Bristol are launching their own currency, with the backing of the council and a credit union.
The “Bristol Pound” will be printed in notes, and also traded electronically.
Marvellous… and backed by our good friends at the City Council. Have they inadvertently understood the need for monetary reform? Will we start to see currencies popping up everywhere in defiance and in direct competition with the banksters cartel? Lets hope so. But I doubt it, sadly I suspect this is more about marketing than serious reform but I hope those that are involved are educating themselves on the way money has been hijacked from the people by those that wish to control and manipulate economy for their own ends however innocent or misguided they may be.
Heres some more quotes from the article
“Big companies just hoover up money from a local area,” he told me.
“Money goes into their financial system and typically out into London and into the offshore sector.”
But by definition, Bristol pounds must stay in the city. Spend a tenner in a Bristol bakery, and they must use it to pay their suppliers or staff. In turn, those companies will have to use the money within the local economy.
“We’ll be driving more business to independent traders, and ensuring the diversity of our city, which is one of the things people love about Bristol,” Mr Mundy said.
Well done Mr Mundy I look forward to hearing more
This Adam Smith Lecture debunks several important myths.
Firstly that our current paper money system is the norm. Its not, its exceptional, and has only been around since Nixon took the dollar off the gold standard in 1971, since then the entire world has been on an elastic ever expanding paper money system and this has never happened before.
Secondly, we dont need to have an elastic fiat paper system in order to expand the economy.
Thirdly, fractional banking creates boom and bust cycles and this cannot be avoided or managed by the state except to make matters worse i.e. by artificially propping up the inevitable and delaying and increasing the size of the bust. He makes an interesting point that fractional banking will cause this whether its on a gold standard or not, although the pure paper system is far better at creating even bigger booms and busts.
Fourthly he makes it clear that this is not a crisis of capitalism and explains that this is not capitalism at all. Its a rigged system disguised as capitalism which has stolen the control of money from those that own and need it ,i.e. the people and given it to the banksters and politicians.
His grim conclusion, after explaining that all paper money systems either end voluntarily or end in disaster, is that it will end in the latter which doesnt surprise me at all given the power the politicians , generals and bankers appear to have over us all. Depressing but I’d rather understand why we’re doomed than be ignorant so I invite you to watch and find out more.
Any savvy person who is used to making transfers abroad knows that the banks rip you off on the currency exchange , typically around 5% of your transfer goes into their trousers and bureau de change are even worse. Far better are currency brokers like IFX.com or Currenciesdirect.com that will shave more like 1% or even less for larger amounts. The trouble with these guys though is they are still on the make and you have to have a rather robust conversation with their salesmen who wont offer you the best deal unless you tell them you’ve done your research and you know the best deals out there. They will then change from being your best friend into finding you tiresome particularly if you are not bringing them loads of business and will want to get off the phone to talk to someone more important and profitable. If like me you dont like these kind of conversations then you will like the following websites where you get shown the price , you know the deal is market leading and you can just get on with it. Simples.
CurrencyFair is basically peer to peer currency trading and the video below explains the principle well so I’ll let it do the talking
I’ve just changed some money successfully and its possible to even beat the mid market price if theres someone on the other side whose desperate enough to get hold of the cash enough. At the time of writing CurrencyFair were not taking a commission but in a few days time they will be adding a 0.15% commission within the price. I think we should stomach that and congratulate them for creating another bank busting service.
TransferWise is a neat bank busting solution , they allow you to make currency transfers (currently only Pounds and Euros) at the mid range exchange rate for a fixed fee of £1 for amounts up to £300. They charge higher fees above that and the maximum at the moment is £5000 for which my online quote at time of writing was £24.50 , still not bad compared to say Barclays at a cost of nearly £350! Plus of course the banks wont explain to you what they charge it will be all hidden in mumbo jumbo and the usual deep voiced, red braces twanging sniffy tones that make you feel embarrassed to have asked.
There are of course much better alternatives to the banks in the shape of specialist currency brokers but they typically charge 1% compared to TransfersWise’s 0.5% as in the illustrated quote above and they would only become more competitive for larger amounts.
Hopefully in time TransferWise will have a wider selection of currency swaps and be able to handle larger sums and hopefully maintain their competitive edge, time will tell.
Brilliant documentary from Charles Ferguson documenting the key players involved in the financial crisis. Many are interviewed , many decline to be interviewed and sadly none seem to show any guilt or remorse for their actions or lack of them. The section on accountability is particularly good.
The link below takes you to BBC Iplayer where it will be shown for a limited time or you can download it, you can also get snippets from YouTube
Fantastic documentary by Bill Still that explains how money really works. You’ll discover that money is really debt created out of thin air, and that the Federal Reserve is actually a private bank. Other amazing facts are that Fort Knox has been robbed by the banksters, it was set up to house all of Americas gold including all the gold that was confiscated from the American citizens , the film reveals that the vault has never been audited and suggests that’s because most of the gold has gone – where?
This film will shock and anger you in equal measure and should be compulsory viewing in schools.
The film also argues that the Bank of England is run like a privately owned bank even though it was nationalised in 1945. It argues that all central banks are not banks at all and are certainly not run in the publics interest but rather for a cabal of super rich shady banksters. Is this how it really is ?
Watch Ben Still’s film and make you’re own minds up and do comment as I really want to know what you think
Be warned this is a long documentary , it covers a lot of history but I found it gripping. If you want more he’s made a new film called The Secret of Oz. If on the other hand you want something thats in the same vein but a bit shorter and more of a primer into money and banking but still edgy I highly recommend Money as Debt
This animated film explain how fractional banking works , the history of banking and how its making the vast majority of us poorer for the sake of a privileged elite. Its very well explained and if you have ever asked yourself the following questions this is where you will find the answers
What is money?
Where does the debt go?
Who do we owe it to?
Where do governments get money from?
After watching this and you want to find out more you should really watch Bill Still’s excellent documentary The Money Masters Its pretty long but very enlightening and offers some very interesting conclusions to solve the present debt crisis the world is in. If after watching that you still haven’t had enough of banking then he’s also made a further film called The Secret of Oz which is also very worthwhile viewing although some will be repetition in particular the history lesson.
Fantastic documentary explaining the evils of central banking by Bill Still. This film is a essentially an update to his earlier award winning documentary The Money Masters.
Watch this and you’ll never think the same way about money, banks and governments again.
But before you watch this I suggest you watch the following first in the order I suggest,
1.Money as Debt – an animated film thats reasonably short but really explains how money and banking works and screws up the world.
2.The Money Masters – Bill Still’s earlier lengthy but masterful documentary
Dont forget to comment – I really want to hear people’s views on these really important films