Financial multinationals
Dear Covalence people, I just read about your admirable work on the csr-chicks list. I’m also glad that you include “The Ethics of Banking”! For financial institutions are a law unto themselves and the author of Honest Money gave a talk at our Forum for Stable Currencies on the difference between balance sheets of banks and of normal companies… In our view, Central banks, PFIs (Private Financial Institutions) and OFCs (Other Financial Corporations) create imbalances through retail and wholesale credit while nobody creates the interest that is required to pay for credit. Mathematically this ‘exponential growth’ of compounding interest on interest is unsustainable. Hence our submission to the Treasury Select Committee Green Credit for Green Purposes on the occasion of its inquiry into the Stern report. In that vein of thinking, our latest political tool for making a difference is the on-line petition Stop the “Cash Crumble” to Equalize the “Credit Crunch”. If you were to give this thinking your time, it would be marvellous. The Guardian published Money from Thin Air. Maybe they’d go further and deeper. Looking forward to hearing from you, Sabine. Image source: gopetition.co.uk
Money Supply or Public Credit Petition – Parliamentary Scrutiny via the Treasury Select Committee Green Credit for Green Growth, Lobbying the Treasury Select Committee In the Spirit of the Forum for Stable Currencies, blog Forum for Stable Currencies, website
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