How is money created?

Do you know how our money is created? Most people don’t, but it isn't complicated.

97% of our money is created by commercial banks when they make loans, i.e. interest bearing debt, not by the Bank of England or the Mint. Only 3% is created in the form of notes and coins. Thus the profits of creating money go to the commercial banks rather than the public purse.

Over the last 40 years commercial banks have increased the money supply at an average of 11.5% a year. And that was obviously too much, too quickly. If the increase in the money supply were say 5% a year, about £60bn a year could go to the government and reduce our taxes by that amount.

The current method of creating money gives the big banks enormous power. And we have learned recently how unwise that is. It means that the commercial banks, not our government, control one of the key levers of our economy. So it is one of the ways we let big banks subvert democracy. And to add insult to injury, when the banks crash, we bail them out with taxpayers’, money.

The way money is created is at the root of the environmental and economic crisis. Firstly, it drives unsustainable growth and consumption. Corporations must produce and sell more to pay interest and repay loans. Easy credit encourages more and more unsustainable consumption.

Secondly, this way of creating money increases the cost of everything and fuels the nation’s escalating debt. It adds to the cost of investment in schools, hospitals and infrastructure. It inflates house prices, making them unaffordable for many hard working people and the young. Speculation in commodities, like food, further drives up prices, when there are already growing shortages resulting from climate change, the greed of big companies and waste. Reckless speculation by banks contributes to boom and bust in financial markets. That leads to enormous instability and regular financial crises. Huge short term profits and excessively high salaries result in a brain drain into banking and financial services. Our economy has become unbalanced: too few people making things; over-dependence on the financial sector. And this economic system increasingly transfers wealth from those who create it to a tiny super-rich minority.

People's pensions and savings have suffered because the banks have doubled the money supply in the last decade alone and have used too much of this money to speculate on property and other financial products rather than investing in real long-term wealth creation. The big banks are up to their necks in financing some of the most socially, environmentally dirty projects on the planet.

We are encouraged to grow our businesses (GDP) rather than create of welbeing.

Meanwhile millions of people suffer unemployment and needless austerity through so-called “Neo-Liberal” policies which have never worked. And political leaders obstruct much needed reforms to our deeply flawed democracy. No wonder increasing numbers decide not to vote. In the 1950s 80% went out to vote; now only 41% say they are certain to vote (Hansard Society). On top of that, the media provide a torrent of depressing news stories but are silent on the possibility of radical monetary reform. This has to be changed.

These problems are not unique to UK. They apply to Europe, USA, indeed all countries. There is a growing realization that fresh ideas are needed if these crises are to be avoided; similar reforms are proposed all over the world. It's a strange kind of economic system that over consumes natural resources, yet leaves millions without jobs, whilst poverty grows. A Green New Deal would address both issues, putting people back to work fixing the energy and resource inefficiency of our homes, businesses and infrastructure and providing renewable energy.

Under proposed monetary reforms, commercial banks would be prohibited from creating money. That would be the sole responsibility of national reserve banks: to provide the money supply required for national objectives, decided by democratically elected government. Meanwhile, commercial banks would continue to fulfil their proper role of providing both the traditional bank services that individuals and businesses require and investment services. Germany seems to offer the best model here with national, regional and local banks with a mandate to serve SMEs (small and medium-sized enterprises).
Until that is done recurrent crises and mounting debt will continue. Vested interests will resist; political parties are dependent on the largesse of banks. Of course Governments will certainly not want to damage economies currently highly dependent on the financial sector. So a carefully managed transition towards a more balanced economy is needed.

Ordinary people, so-called, know that something is wrong; it’s up to us to inform ourselves and demand radical reform. Otherwise governments and will continue with fixes that won’t work rather than the radical change that is needed.

Bruce Nixon is author of A Better World is Possible, Ordinary person’s handbook book on how to solve the environmental and economic crisis. Thanks to Positive Money http://www.positivemoney.org/

Save our Bees!

Despite the US and the UK resisting, bee campaigners are celebrating the European Union prohibition on the use of pesticides which have been demonstrated to be toxic to bees. A total of 15 of the 27 European member states voted for a 2 year ban on neonicotinoids and 300,000 people in the UK signed a petition to bring in a ban. Most bumblebee species are declining and 6 species have suffered an 80% reduction in numbers in recent years. In the past 100 years, 20 British bee species have become extinct and 35 British bees are currently at risk of extinction. This is due to several factors, not just the chemicals which reduce their immune system capabilities, but loss of habitat plays a large role as does the removal of honey from hives and replacing it with sugar water which provides none of the valuable nutrients for bees throughout the winter, and does not provide the antibacterial that is needed for them to fight diseases. 

Global Sale of Fur at an All Time High!

Top fashion models, such as Naomi Campbell, who do not get out of bed for less than a £10,000 daily fee at one time pledged they would never wear fur and would rather go naked. But 400 of the world's up-market designers are using animal pelts for fashion on the cat-walks of London, Paris, Milan and New York, dressing high paid models in furs costing five figure sums. The UK fur market has more than doubled with Britain's leading fur retailer, Hockley, increasing sales by 44% in its London store over the past ten years. Mulberry, Gucci, Fendi and others are stocking winter collections. London is now the fastest growing market in Europe and sales in Asia are booming at £3.7 billion per year. World sales in fur reached £10.3 billion last year.

Sustainability - cities leading the way!

Jonathon Porritt introduces Bristol BIG Green Week and reflects on how it is our cities that now lead the way in sustainability.

Happily, Nature still abhors a vacuum, and into the vacuum created by governments failing to meet their responsibilities on climate change are now stepping more and more cities – as part and parcel of their overall ‘greening’ strategies.

In the USA, it’s often city mayors who are making the running, sometimes with the active support of state governors. It was Mayor Bloomberg of New York who succeeded in forcing climate change into last year’s presidential election, endorsing Barack Obama in the immediate aftermath of Hurricane Sandy. In China, there’s an extremely active network of eco cities, enthusiastically competing amongst themselves for government support and new industry investments.

UK's Trade in Illegal Rhino Horn

According to the Zoological Society, a Rhino is hacked to death ever 11 hours. Traffickers from the UK are trading in Rhino horn, buying online from middle-men who operate from South Africa, Egypt, Ethiopia and Equatorial Guinea and who sell it for £20,000 per lb. 

In South Africa the number of Rhinos slaughtered in 2007 was 13; in 2008 the number was 83. In 2011, 448 Rhinos were slaughtered and the number is increasing. By 2015, a tipping point will be reached where more are dying than being born - a recipe for certain extinction. The horn is used by the Chinese and Vietnamese for herbal medicine and in the Middle East, it is used to make dagger handles. The Yemen and Oman are thought to be the biggest users. Loss of habitat also contributes to their declining numbers.

There Is More To Tea Cultivation Than Meets The Eye

The second most consumed beverage next to water is tea. Interestingly enough the 3,200,000 tones of tea produced worldwide come from only one plant species, named "camellia sinensis." But how does a plant become a beverage? Tea is made by steeping processed leaves, buds, or twigs of the tea bush in hot water for a few minutes. A great variety of tea tastes, aromas and colors can excite even the most skeptical palette. If you do like tea drinking, but simply never had the opportunity to learn more about it beyond the fact that you enjoy it, you should know that there are thousands of teas offered on today's market.

Georgian Polyphony

Chinese New Year

Sunday, 10th of February 2013 is Chinese New Year, which celebrates the end of winter and the start of the Spring Festival, an event similar to our Western carnival. This year heralds the era of the Yin (female), Water Snake, a time to stimulate research and education into science and technology and the year will continue until 30th January 2014. The Snake will be offer a year of insight and influence, motivation and intelligence. It is a time to be rewarded for caring efforts of all kinds and to find opportunities to build new relationships.

January Oracle Reading

The first card chosen for the start of 2013 is from Joie de Vivre Tarot by Paulina Cassidy It is titled 'Page of Coins' and keywords are: Fascination, determination, curiosity, resourcefulness and learning. The card asks ‘What do I allow to block my joy?’ Marvel is the Page of Coins who sees endless possibilities as he reaches for a shiny golden coin. His good instincts and inventive mind lead him to opportunities. Advice: Expand your horizons, enjoy life’s journey, find your passion and your brilliance will be rekindled.

December Oracle Reading

From Tarot Psychology, I have chosen Two of Wands, titled ‘Invention’. This is the card of creative inventiveness expressed boldly, even rashly. An idea emerges which is brilliant and original – the product of a free, independent and intelligent mind, and insists on doing things this way, refusing to be influenced by anyone or by any organisation. The inventor is immersed in their work, to the extent that their single-mindedness is irritating to others around them. However, the inventor has little support, and there is no precedent for the effort. But dedication and unshakeable belief in a project brings forth results. As history has demonstrated, brilliant ideas will be carried forward, even if the inventor is forgotten. Meditate on this card, immerse yourself in the idea of invention. This is the card of creative genius!

New Book Reveals the Wisdom of an Impossible Life - Dummy: A Memoir

www.dummyamemoir.com

A Story of One Manʼs Rise out of the Ashes of Self-Loathing to Selfless Unshakable Courage and Freedom

San Rafael, CA – November 2012 -- David Patten was born in 1954 with a cognitive disorder (later diagnosed in the Autism Spectrum) that profoundly challenged his ability to process the world around him. Unable to concentrate or learn the basics of reading and writing, he withdrew into an inner world. Because he grew up in a time when his dysfunctions were not understood, David was labeled lazy, stupid, a troublemaker. He was blamed, punished, pathologized, and unable to get the help he needed. By the time he was a teenager, David had drifted into the dark underbelly of American life. 

November Oracle Reading

From The Enchanted Tarot I have chosen card No 17, titled The Star, the card of innocence. There is peace after life's upheavals, there is cleansing and purifying after the storm. A star of hope and wonder shines in the heavens, promising inspiration and illumination. Below, a nearly naked maiden stands entranced, with one foot in the land and the other poised magically on the surface of the stream of the unconscious represented by a lily pond. She is joyously receiving energy from a lily while she uses her cupped hands to shower stars back to the flower. The star in her hair is the place we focus our eyes to wish for little miracles, with the guilelessness of a child. We will be rewarded with love, beauty and peace and help of all kinds, poetry and art.

Satchita

Blind Man

Playing for Change

October Oracle Reading

From Cat's Eye Tarot by Debra M Givin, I have chosen the first card, King of Wands. The keywords are: Charming, superficial, self-confident - cocky, daring - fool-hardy, adventurous - restless, passionate - hot-tempered! The card depicts a young tom who has climbed high in a tall tree. His mischievous expression and flick of his tail show he is in his element and does not need to be rescued. he is happy to be admired by all but never gives his heart to anyone.

A knight may bring excitement into your life, but beware of his volatile energy. If you are seeking a serious relationship, maturity will be needed to tame this temperament!

Yoko Ono & Sean Lennon Launch Artists Against Fracking

Artists and Public Figures Ask Governor Cuomo to Say No

NEW YORK, Aug. 29, 2012 /PRNewswire/ -- Artists Against Fracking has been launched by Yoko Ono and Sean Lennon as a new coalition of artists, musicians, filmmakers and public figures opposed to hydraulic fracking.

The growing coalition now includes more than 180 members, including Lady Gaga, Paul McCartney, Ringo Starr, Anne Hathaway, Alec Baldwin, Marina Abramovic, Gwyneth Paltrow, Cindy Sherman, MGMT, Wilco, Bonnie Raitt, Liv Tyler, Mario Batali, Roberta Flack, Robert De Niro, Mark Ruffalo, Uma Thurman, Joseph Gordon-Levitt and many others. The full list is at www.artistsagainstfracking.com.

The group will work to expose and stop the harmful and contaminating practice of fracking for natural gas and oil through mass awareness and peaceful democratic action.

Yoko and Sean were compelled into action by Governor Andrew Cuomo's recent announcement that fracking might soon begin in New York.

"Protecting our drinking water is fundamental to life. And people worldwide know that as a species, we are near a tipping point – it could go either way," explained Sean. "We all have a responsibility to preserve the planet's life-support systems for future generations."

Hydraulic fracking pushes gas and oil out of rocks that are 2,000-10,000 feet below the earth by injecting millions of gallons of water laced with chemicals at high pressure to break the rocks and free trapped methane. In 2005, the Bush/Cheney Energy Policy Act exempted fracking for natural gas from the Safe Drinking Water Act, allowing the use of harmful chemical carcinogens and neurotoxins in the process without disclosure. Congress has reported that 650 chemicals used for fracking are known toxins. This highly contaminated water threatens aquifers and water supplies. Plus, methane leaking from fracked wells is a potent greenhouse gas.

For further information stay tuned to www.artistsagainstfracking.com.

SOURCE Artists Against Fracking

Oracle card reading for September

From the Dream Deck Cards, I have chosen ‘Clearing the Air’. Before sleeping, each night this month, imagine a landscape, under a sultry sky. A heavy rain begins to bounce off the roof-tops, forks of lightning sear through clouds and a wild, bracing wind whips the earth. You consider all your most difficult problems, those that are stuck and need cleansing for you to move forward. As the storm reaches its climax, you think of the movement forward from your problem as a new way of thinking and being enters your mind. The storm has passed, the sky has cleared, you breathe the fresh, cool and drift off into a peaceful sleep.

The Mayan Oracle (book and card deck)

A Galactic Language of Light – A Hands-on Tool to Harness the Potential for Spiritual Growth
By Ariel Spilsbury and Michael Bryner
Illustrated by Oceanna
Published by Bear & Co
Boxed set of 294 page book and 44 cards
£27.99
ISBN: 978-1591431237

Website:
http://www.holographicgoddess.com/

This oracle was inspired by a dream by two Californians, Spilsbury and Bryner. Ariel Spilsbury is a spiritual counsellor and planetary midwife who is building the Sanctuary of the Open Heart which honours the divine feminine. She is the author of The Alchemy of Ecstasy and the 13 Moon Oracle. The father seed of the project is the late Michael Bryner (1950-1998), a

Eat (and Drink) Your Way to Better Skin By: Tim Jarvis

You already know that too much sun is bad for you skin. But what you may not be aware of is just how quickly you can improve the look and feel of your skin by getting the right nutrients.

“Your refrigerator can be the fountain of youth when it comes to your skin,” says Sunny Lavalle, a registered dietician who has been working with clients in Miami for more than 12 years. “Besides not smoking and using sun protection, your diet is the next best thing you can do to keep your skin healthy and looking good.”