Filed under: Social Business, Treasury Select Committee | Tags: Public Credit Petition
Since our Green Credit for Green Purposes submission to the Treasury Select Committee didn’t achieve anything other than being printed as part of their report on the Stern Report, we have to find another route of following our lawyer’s advice “go for Parliamentary scrutiny via the Treasury Select Committee”.
However, the Chairman wrote that I cannot see him in the foreseeable future. So we have to do it online.
“Stop the Cash Crumble to Equalize the Credit Crunch” says in less words and a few web links what our submission said in 63 paragraphs: please look into the money supply and the ratio between Cash created by the State and Credit created by banks – for the imbalance is untenable and certainly unsustainable.
At the end of WWII, 48% of the money supply was Cash. Now it’s 3%. See What is the Cash Crumble? in my other blog for the evidence. But nobody creates the interest necessary to pay for credit. So credit is chasing credit. That’s what must be called “usury-based banking” – quite the opposite of what Dr. Yunus has created with his Grameen Bank which is usury-free and run as a social business.
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