British Banknotes – Courtesy RemovingTheShackles BlogSpot.
An activist who specializes in Financial matters was at the People’s Budget today and told me about the admission in yesterday’s Guardian. So am passing it on to a wider audience. She was amazed that this had appeared in print. My first thought was that their replacement system must be nearly ready to go.
http://removingtheshackles.blogspot.co.uk/2014/03/the-truth-is-out-money-is-just-iou.html
http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q102.pdf
Comment: ‘Tinkering at the edges, or rather, moving the deck chairs round. Carney left his previous organisations in a mess. What about the people of this country (via a government supposedly answerable to us) printing its OWN money, as it did previously with the Bradbury Pound, so that debt and resulting inflation would be virtually eradicated. The BoE makes money out of fresh air with 0’s & 1’s and charges our government (us) interest on it. How does that work?’
Change to UK’s money system could solve our long-term economic problems
‘But the 1844 law was never updated to apply to electronic money and still only applies to paper notes. Metal coins and paper notes now make up just 3% of all the money in the UK. The remaining 97% of money consists of essentially numbers in high street banks’ computer systems. Banks create this electronic money through a simple accounting process whenever someone takes out a loan.’ https://bsnews.info/change-uks-money-system-solve-long-term-economic-problems/
ukgovernmentwatch 