Money Bomb

Gibb Stuart James

Description

A dramatic expose of the financial bomb ticking away unnoticed at the very heart of the world's financial systems, and the vested interests who don't want us to know, "the Money Bomb" is still as relevant today as when it was originally published in 1983.

Sujets

• Banking
• Economie gestion
• Bank

Informations

• Publié par: Stuart Titles Ltd
• Date de parution: 21 août 2013
• Nombre de lectures: 0
• EAN13: 9780947621209
• Langue: English
• Poids de l'ouvrage: 2 Mo

Extrait

THE MONEY BOMB
James Gibb Stuart
First Edition Published March 1983 Second Edition July 1984 First published in eBook formats in 2013
Copyright James Gibb Stuart 1983
Publisher s Note
James Gibb Stuart is one of the few people in the United Kingdom who truly understand the meaning of monetary reform and how our whole society is built upon misconceptions about the creation and value of money, which have caused it to exert such a malign influence over society at large.
Following a career in the Air Force during World War II and several successful business ventures thereafter, James, a patriotic Scot, became a fervent activist in the SNP movement in the 1960s. It was through this political involvement that he came to realize the key to true independence lay in the control of a nation s wealth and the creation of its money. He also began to discover the sinister power over politics and the media wielded by rich shadowy individuals and organisations, bent on maintaining the status quo. This led him to publish his first book, Mind Benders , in 1979, soon followed by The Lemming Folk , and The Beast in the Temple - all forerunners of the The Money Bomb published in 1983.
The Money Bomb was launched on the morning of the Chancellor s Budget in April 1983 and although it was featured in the 1st Edition of the London Evening Standard, by the time the second edition was on the streets, the article on the The Money Bomb had been pulled. Similarly, orders taken earlier that day from Publishers were mysteriously then cancelled.
Clearly The Money Bomb had hit a raw nerve with the authorities and the assumption is that the powers that be, must have felt it was too close to the truth for comfort.
James has continued to amass interest from various groups around the world who are equally passionate about monetary reform, and over the years has published a dozen or so books and booklets on the monetary system, rightfully earning his title of Grandfather of British Monetary Reform .
We have decided to publish this monetary reform classic as an eBook in its original format, since its content is still, if not more so, relevant in today s economic climate. We have not wished to edit the original text, though we have provided some updated figures and statistics, which show just how accurate Mr Gibb Stuart s predictions back in the 80s were.
CONTENTS
PUBLISHER S NOTE
FOREWORD
CHAPTER I
The cash that jingles in your pocket
The diminishing pound
The bulk of the Money Stock
Monetizing your assets
How the volume of money increases
A financial system that s failing the nation
CHAPTER II
The affidavits of Monetarism
The new conservatism
The interest rate lever
Sparking off a lending boom
The private sector gets the message
Counter-inflation in a recession
CHAPTER III
The boom-and-bust syndrome
Crisis of over-production
Asking more pertinent questions
Scottish banks and the Option Clause
The social consequences of restricting credit
Distraught wives and hungry bairns
Preoccupied with the Symbol of Wealth
Modern day comparisons
Why not just stop inflation?
CHAPTER IV
The origins of socialism
Perfect system that was long in coming
Socialists who read their bibles
Collectivist ideal of the future
Adapting the Mixed Economy
The public sector drags its feet
Touching on Government Debt
CHAPTER V
The castaways of Salvation Island
An angel from the clouds
Deciding the first note issue
A question of interest
Mr. Oliver solves a problem
Taxing the Island s prosperity
Tom uncovers a vital secret
Taking back their assets
CHAPTER VI
The truth about first-time money
Sound banking
Expansion without public debt
Trying it out in the real world
Stagnation and debt in the Channel Islands
Raising a local currency
No such place as Guernsey?
The urgency of great occasions
Exercising fiscal responsibility
CHAPTER VII
Formation of the Bank of England
The Lender of Last Resort
Beginnings of the National Debt
Paying interest into the Third Millennium
Money we owe to ourselves
Governments without money
A figure that keeps on escalating
CHAPTER VIII
Too much money chasing too few goods
The inflation psychosis
People who gain from the price spiral?
Devaluing the pence in your pocket
Growth versus continued Government borrowing
The true cause of primary inflation
Clobbering the traders in the Market Place
The monopoly money of the future
CHAPTER IX
Vanishing profits at the E.G.B.
Identifying the Black Economy
Tax Credit and the Poverty Trap
Eluding the Inland Revenue
Taxing the natural resources
The Dinosaur in the basement
CHAPTER X
The Four Principles of Bishop Berkeley
Benjamin Franklin and Colonial Scrip
Scotland and Guernsey
Seeing self-help as a virtue
Local expenditure cuts
Capitalism s Achilles Heel
The Rates Voucher scheme
CHAPTER XI
A choice between hospitals and armaments?
The Money Bomb and the Land fit for Heroes
The Falklands War, - Britain recovers her nerve
Compensating for the cost of Trident
Lives lost through defence cuts
Guns, Butter, - and the Dinosaur again
Islands that Whitehall neglected
The true evils of colonialism
Men of vision in a common cause
CHAPTER XII
Postwar revival of Germany and Japan
That hyper-inflation in the Weimar Republic
An economy starting without public debt
End of the Miracle
CHAPTER XIII
From dream into nightmare
Lincoln s greenbacks
Land of the Almighty Dollar
Money - Master or Servant?
Only in America
Founding of the Federal Reserve Bank
Government borrowing - Taxation - Inflation
Sparking off the Great Depression
Speculation, - and the distortion of real values
Where does all the money go?
CHAPTER XIV
An insatiable demand for growth
Replenishing the Cookie Jar
Machine in need of maintenance
Credit goes for export
Tea and sympathy for the Poles
The $23 billion that quietly disappeared
Technology for Russia s gas pipeline
Who gets the best of the bargain?
Exchanging capital goods for electronic money
Millions created without sweat or effort
The power of the purse
Bank expansionism that defeats Government policy
Pinpointing a fallacy
CHAPTER XV
Stipulating the conditions
How the Treasury finances its currency issues
It has to be created in any case
Enumerating the benefits
Living with a Taboo
BIBLIOGRAPHY
APPENDIX A: Introduction to Second Edition (1984)
APPENDIX B: The Winning Solution ( Convertible Currency P. Q. Collins)
APPENDIX C: Recent Press Article
APPENDIX D: Public Sector Net Debt figures
FOREWORD
The Money Bomb is the earliest comprehensive book about the national debt that I came across on my odyssey into understanding our capitalist money system.
The fact that it was banned from all W H Smith windows in London after a positive review in the Evening Standard demonstrates what any critique is up against: the powers that do not want the general public to know what holds them to ransom.
The book is as true and relevant today as it was then; for the national debt mechanism is far from being understood, because it is not taught appropriately. In fact, the London School of Economics doesn t even teach what money is.
It is quite remarkable how banks and, above all, the Bank of England, get away with fudging the issue: by talking about broad and narrow money rather than Credit and Cash; by not spelling out the crucial difference: whether it s bank- or government-created and whether it s interest-bearing or not.
It is also remarkable how the author has described the problem in terms that are perfectly understandable without going into systemic and detailed analysis, which might blur the big picture he so clearly paints - that of a country, the creation of its money and the maintenance of its stock. His message is, after all, very simple: that a nation should create its own money, based on the value of its own resources, rather than borrowing at interest from banks. In so doing, it would also break free from the self-perpetuating cycle of inflation which results from the need to service the increasing mountain of debt by further borrowing - the expansion of the money supply without any guarantee that it will be matched by an increase in goods and services.
Too much money chasing too few goods has become more and more painfully apparent to me as the organiser of the Forum for Stable Currencies 1 at the House of Lords and Commons since 1998 which James Gibb Stuart has also addressed and supported. However, there is a strange kind of charade that seems to be going on in Westminster: everything sounds right and reads well, but in reality things are going from bad to worse.
It can only be hoped that the internet where everybody brings their own device, where data is becoming open and where information is shared among likeminded folk will make the difference that is so badly needed.
I am glad to see the The Money Bomb join the electronic world. For at the very least, it s a record of historic significance. At its best, however, new generations of monetary reformers are going to have the kind of Aha! experience that I had 25 years ago, so that, at long last, we will see the difference that James Gibb Stuart has devoted his life to.
With my very best wishes for lots of clicks on the The Money Bomb,
Sabine K McNeill Organiser and Web Publisher, Forum for Stable Currencies

The Forum for Stable Currencies promotes monetary and banking reform through regular lecture series and debates at the House of Lords, London. It is a voluntary Initiative of Parliamentarians and Concerned Citizens across the full political spectrum and from all religious persuasions, and has the active support of many MPs from both Houses, including Lord Sudeley (Conservative) and Austin Mitchell (Labour MP). From 2002 to date, the Forum has tabled and promoted nume