REPUBLICAN PARTY MEETING
It's only two weeks away.
We need you there!
"A Vision of a Republican Party"
- Address by Peter Kellow
2pm . Saturday . 1st October 2011
25 Red Lion Square
London WC1R 4RL
(Nearest Tube . Holborn)
The address will be followed by a general discussion and the setting up of a Steering Committee to initiate the Republican Party
Will Having the Government Create the Money Lead to "Statism"?
Peter Kellow writes
In Republican Party Newsletter No 70 Friday 10 June 2011 I talked about the how we need to take money creation out of the hands of speculative banks and give this function to the people, i.e. to the government. But I noted:
" ... you cannot hand over the business of money creation to the government run under the current constitutional arrangements. If democratic politicians were to hold the levers of money creation, all sorts of short term wheezes and plots would be brought into play. And you cannot at present create an independent committee or board for its independence would be an illusion. Only a republican constitution can confer the necessary constitutional permanence, authority, objectivity and independence that the Monetary Control Board will need.
This is why the Republic and the Banking Revolution must go hand in hand."
This issue of how we manage the money supply is crucially important to running the economy under the new economic model. This is why the design of the institution of the Monetary Control Board is so vital. You could argue that things could not be worst than the situation we currently have, but let's be more ambitious than that implies. Let us aim for a system par excellence that will streamline our reinvigorated economy to be a world leader once again.
On the Repubican Party Facebook page pledged member, Michael Crahart, asked a very pertinent question concerning the monetary management. It lead on to a discussion which explains a little more how the MCB would deliver the required results. This discussion is now reproduced here:
Michael Crahart Isn't your idea that only the government should create money, a form of financial communism?
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