tag:blogger.com,1999:blog-9192922.post8935549406126216240..comments2024-03-26T07:51:43.186+00:00Comments on Mabinogogiblog: National Debt - is it curtains for the UK?DocRichardhttp://www.blogger.com/profile/08903964792092284406noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-9192922.post-55087232320600544222010-03-27T14:45:55.968+00:002010-03-27T14:45:55.968+00:00David, you are not wrong. The knee-jerk reaction o...David, you are not wrong. The knee-jerk reaction of Weimar/wheelbarrows precludes most rational debate about money creation. The chatterati are at the stork/mulberrry bush stage of comprehension on the question. And the Left identify any discussion as a recrudescence of right-wing anti-semitism which tainted so much of earlier criticism of the bank's monopoly on money creation, so that they are in the delicious position of supporting the right of the corporations' monopoly on money creation.<br /><br />The<a href="http://http://www.monbiot.com/archives/2009/01/20/a-better-way-to-make-money//" rel="nofollow">Worgl </a> story of depreciating money to tackle a depression I find very encouraging.DocRichardhttps://www.blogger.com/profile/08903964792092284406noreply@blogger.comtag:blogger.com,1999:blog-9192922.post-63073837719602706592010-03-27T13:35:39.694+00:002010-03-27T13:35:39.694+00:00There is no reason in theory why central banks can...There is no reason in theory why central banks can’t create money, use it then collect it back. Unfortunately the experiences of the Weimer Republic and images of people needin g a wheel-barrow full of zillion mark notes to buy a loaf of bread are so engrained in the financial sectors collective psyche, this route is totally taboo. There is another way, creating a complimentary currency like the Swiss Wir. A ‘green guinea’ to fund eco-Keynesism (GP Green New Deal/ LD Green Road to Recovery); as a complimentary currency it could have its own interest rate, exchange controls etc. It could have a sunset clause, making it worthless in a certain number of years.David Coxhttps://www.blogger.com/profile/03074466074735623957noreply@blogger.com