Monthly Archives: January 2014

Post Office Bank Concept Gets Big Boost

Posted on January 29, 2014 by Yves Smith Naked Capitalism readers have frequently called for the Post Office to offer basic banking services, as post offices long have in many countries, notably Japan. That idea has gotten an important official endorsement in the form of a detailed, extensively researched concept paper prepared by the Postal Service’s Inspector General. I’ve embedded it and strongly …Read more »

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Enough Is Enough: Fraud-Ridden Banks Are Not L.A.’s Only Option

By Ellen Brown, Web of Debt  Posted on Jan 30, 2014. Read full article on truthdig This piece first appeared at Web of Debt.  “Epic in scale, unprecedented in world history.” That is how William K. Black, professor of law and economics and former bank fraud investigator, describes the frauds in which JPMorgan Chase (JPM) has now been implicated. They involve more than a …Read more »

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Britain needs German-style banking to reignite growth

Civitas http://www.civitas.org.uk/press/prSparkassen.php Britain needs German-style banking to reignite growth Copy Germany and create local banks, says report Coalition efforts to reform Britain’s over-centralised banks do not go nearly far enough, suggests a new Civitas report. Britain remains over- too reliant on big banks despite incoming Bank of England Governor Mark Carney’s recent warning that “too big to fail” banks are …Read more »

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PUBLIC BANKING IS A NO BRAINER FOR IRELAND

The PBFI would like people to learn all about the differences between public and private banking. Recent history of banking in Ireland, demands that we do banking differently: Recent history of banking in Ireland is a litany of abuse of privilege by big private banks: this must be stopped. IRELAND NEEDS A DIFFERENT CONCEPT IN BANKING, a concept of PUBLIC …Read more »

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Co-operative banks may be the way forward – by Brian Lucey TCD

Read full article here Irish Examiner Ltd. “Some encouragement of the formation of new co-operative banks would be useful, as would be a consideration of whether or not we should cap the size of domestic banks, to consider winding down all majority state-owned banks which have had moral hazard injected into them through bailing out, and to encourage the transference of …Read more »

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10 year old explains where money comes from.12-year old explains world debt

10 year old explains the truth about where money comes from… 12-year old girl, Victoria Grant, explains world debt

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How the Canadian government used to borrow from its own central bank

  @ 0% Interest!   Posotive Money article. taken from article by Ellen Brown Written by Ralph (Guest Author) on June 3, 2013. Posted in Bank of England & QE, Financial Crisis, Global Situation, Poverty, Debt and Inequality This is a brilliant article by Ellen Brown about how the Canadian government used to borrow from its own central bank at a …Read more »

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Vermont moves forward on public banking!

by Matt Stannard on January 20th, 2014 A new report released by advocates for a state bank in Vermont supports legislation introduced in the Senate to grant banking authority to the Vermont Economic Development Authority. The study, which explored the economic impacts of a public bank in Vermont, was conducted by the University of Massachusetts and the University of Vermont …Read more »

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The Church of England is also in the process of setting up a Credit Union

Archbishop wants Sir Hector Sants to lead financial services taskforce Read full story here on MoneyMarketing Former FSA chief executive Sir Hector Sants has been approached by Archbishop of Canterbury Justin Welby to lead a new financial taskforce, according to The Telegraph. Sants, who resigned from his role as Barclays head of compliance and government and regulatory relations in November …Read more »

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‘European banks are technically bankrupt’

  A new report by the International Labor Organization (ILO) says the Eurozone is in danger of losing 4.5 million jobs over the next four years, unless it changes its current economic policies.   According to the report, if the 17-nation bloc does not prevent the spike by shifting away from austerity, the number of its unemployed workers will reach to 22 …Read more »

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The Case for Parallel Public Banking Institutions

The Bank of North Dakota has a return on equity of 25-26% and has contributed over $300 million to the state (its only shareholder) in the past decade — a notable achievement for a state with a population of only 600,000. Timothy Canova is Professor of International Economic Law at Chapman University School of Law in Orange, California. In a June 2011 paper called …Read more »

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How much has Ireland paid for the EU banking crisis?

Michael Taft. thejournal.ie Ireland has been declared a ‘special case’ by Angela Merkel – and these figures show exactly why, writes Michael Taft. “The European banking crisis to date has cost every individual in Ireland nearly €9,000 each.  The average throughout the EU is €192 per capita.  I really don’t know what you can say after that.”            Jan 2013 Read …Read more »

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Impeachment of Paddy Quislings

Date:    24th September 2013 Ref:      MMD/LIR 1433  Impeachment of Paddy Quislings Like much of the population of Ireland I am deeply concerned at our drift to rapidly become slaves to Merkel’s cheque book leaving us with a Europe devoid of any other principals of humanity.  Would the impeachment of Taoiseach Enda Kenny be justified if one was to review his …Read more »

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Get Out of Big Banks NOW!

Irish Readers Please Note: Although this US article is very relevant to Ireland there is a word of caution re. Credit Unions. Randy Langel recommends transferring your money from the Big Banks to the safety of Credit Unions. This requires careful consideration in Ireland as a high percentage of CU funds are held in the Irish Big Banks. These are …Read more »

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“A blueprint for a new, working, banking system for Ireland” By James Deeny

James Deeny is a Director of a number of major IFSC companies and a retired Country Manager of HSBC Ireland Finance Dublin “A blueprint for a new, working, banking system for Ireland” It is a basic reality that the domestic banking sector in any country is only as good as the local economy and Ireland is no exception. Until such …Read more »

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Ireland in 2014 a BA -NAMA Republic, a land devoid of democracy. By Thomás O Cléirigh

By Thomás Aengus O Cléirigh “No matter who you vote into power we still get the same policies and gangsters lining their own pockets “   Read full article here Machholz’s Blog

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SME fightback hobbled by financing shortfall – The Examiner

SME fightback hobbled by financing shortfall Thursday, January 02, 2014   –  By Kyran Fitzgerald – The Examiner “Estimates suggest that as much as €25bn in loans to the sector could be categorised as troubled; that is, one half of the total funds lent to SMEs. Many businesses are clinging on by their fingernails. Bank lenders, when not pressing hard …Read more »

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