#G338* – BankofEnglandAct.co.uk – Call4Reform – Douglas Carsdale MP + THE Petition
Douglas Carswell MP leads the way on monetary reform
This Wednesday, Douglas Carswell MP (Conservative,Clacton) will introduce legislation into the UK parliament that takes the first step towards ending fractional reserve banking. As Steve Baker MP describes:
‘Douglas‘s Bill would assert property rights over demand deposits. Real savings – term deposits – would be loaned to entrepreneurs, delivering an economy built on save and invest.‘
This would have the effect of making fractional reserve banking impossible, requiring a shift to full-reserve banking (where the bank either lends your money, or keeps it safe, but doesn’t claim to do both at the same time!). In plain English, it would stop private banks being able to create money as debt.
Steve Baker MP explains this in further detail here:
Once Douglas Carswell has made his presentation in the House of Commons this Wednesday, I’ll send you the full text of the speech, and hopefully the video, along with some ways that we can support this move.
We’ll have further news in the next few days as well.
Ben Dyson, on behalf of the Bank of England Act team
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British Politicians with pens and treachery, in pursuit of their own agenda and greed, have done more damage to the liberty, freedoms, rights and democracy of the British peoples than any army in over 1,000 years.
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