Eskoziar batek (Derek Henry) dioena DTMz (gehigarria)
Hasierarako, ikus Eskoziar batek (Derek Henry) dioena Diru Teoria Modernoaz
In Bill Mitchell-en Timor-Leste – challenges for the new government – Part 2
(http://bilbo.economicoutlook.net/blog/?p=39363#more-39363) —-> comments
Derek Henry says:
I had a chat with Robin Macalpine who runs the Common Weal project in Scotland over the weekend.
The feedback was very positive and they are starting to get it and they are going to start publishing more material in support of the job guarentee. With an interest in the combination of a JG and a UBI as discussed within the Mosler – Keen debat3. Which is a giant leap forward because in the past they have only ever supported a UBI.
Scotland is obviousley further advanced than Timor-Leste but when setting up a central bank and issuing a new currency there are similarities here.
Eskoziako Common Well-eko Ben Wray-k autodeterminazio-eskubideaz
Ben Wray-ren The European Union towards the New Old (http://www.vocaleurope.eu/european-union-towards-new-old/)
(…) there is the ambivalence with which Brussels appears to hold for the rights of minorised People, and the way in which referenda – an important democratic forum for the expression of public consent – is treated with contempt. Catalonia’s independence referendum in November 2014 was snubbed by the EU Commission in June via technocratic reference to the Spanish constitution (1978). This reference failed to take account of articles 10 and 96 which ratify all international treaties defending the Right to Self-determination of People which were formally signed by the Kingdom of Spain in 1977. This was to get the Spanish State accepted as a Western democracy after the death of the facist dictator Franco.
This is chance for the EU at this crucial stage in its development (…) by supporting the official Catalan referendum about independence scheduled for the 1st of October (supported by elected President Puigdemont and the absolute majority of Catalan Parliament with the massive support of the 80% of Catalans). We’ll see if once again, any concern for the consent of the people is secondary to meeting the needs of those with power in the EU. (…)
From Vocale Europe to ICEC-Euskal Herria
Hasierarako, ikus ondokoak:
(Euskaraz, ikus Vocale Europe delakotik ICEC-Euskal Herria delakora)
In Oh Scotland, don’t you dare! – Part 2: http://bilbo.economicoutlook.net/blog/?p=39506#comments)
Dear William and others (at 2018/06/06 at 9:28 am)
Your queries are why the original MMT proponents use the term ‘net financial assets’ instead of ‘money’.
The commercial banks can create ‘money’ (liquidity) by creating loans (credit). But they cannot create new net financial assets because the asset (loan) is offset within the non-government sector by the liability (debtor).
Only transactions between the government and non-government sector can create or destroy net financial assets.
The government is also the monopoly issuer of the currency (notes and coins). The commercial banks can get access to that and distribute it (vault cash) but only by sacrificing bank reserves held at the central bank.
I hope that helps.