I am posting this report in response to Bill Still‘s vlog about Iceland’s study for monetary reform.
Bill’s reports are widely circulated on the internet, however Iceland’s monetary reform discussions are not new, but are news worthy.
The Icelandic government may intentionally be searching for their nation’s attempt to implement a monetary policy that coexists with the global monetary “reset” that has been planned by the globalists and central bankers. The call for gold backed currencies is popular among the wealthy and should be seen as a return to pre-1971 monetary policy.
Abolishing fractional reserve banking and usury is the prerequisite to any meaningful changes in monetary policy.
A study that fails to adopt these prerequisites would be worthless, in my opinion.
Thus we must examine all monetary recommendations carefully and be certain to include abolishing usury and fractional reserve banking.
- Icelandic Parliament investigating Full Reserve Banking
Written by Positive Money on December 5, 2012.
Ben Dyson made a submission on behalf of Positive Money to the Icelandic parliament in favour of the establishment of a committee to assess the need for reform.
Proposal No. 262 proposes the establishment of a committee to consider how in the current banking system the function of money creation can be separated from the function of lending.
- A return to Sovereign Money? By Josh Ryan-Collins 17 December 2012
The International Monetary Fund (IMF) recently published a working paper arguing for the removal of private bank’s privilege of creating the national money supply. The so called ‘full’ or ‘100%’ –reserve reform has a long history – but, with the Icelandic parliament actively investigating the proposal and little sign of current reforms rebooting the economy, might its time have come? http://www.opendemocracy.net/ourkingdom/josh-ryan-collins/return-to-sovereign-money
Still Report # 224 – Iceland Studies Monetary Reform
Posted 21 March 2014