Sunday, April 04, 2004

Monetry Reform

"Public credit, as measured by the proportion of publicly created money in circulation, has fallen from 20 per cent. of the money supply in 1964 to three per cent. today...Increasing the proportion of publicly created money should be used to cut the costs of, and to boost the quantity of, public investment...and this can be done without any impact on inflation." 1

"Why should polititians and economists endlessly claim that a carefully calculated supply of publicly-created money would be inflationary, yet, inconsistently, do not extend the same logic to the private banking sector, which creates virtually unlimited quantities of money [through interest baring loans] all of the time." 2

1. Prosperity UK, November 2003. New EDM calls for money reform.
2. EDM 323.