1    Editorial:

Below are some articles from the Web should interest readers with access to it:

Connie Fogal on Control of Money Supply is well worth a look/listen – even if some of it may need a ‘pinch of salt’.  Overall, she describes a reality that is well hidden from the general public:

The article highlighted below focuses on one of the multiple pigeons coming home to roost as a consequence of the application of the Western capitalist model on a global scale for the last few decades.

CounterPunch posts US national political commentary by Michael Hudson, [email protected], Apri1 17, 2008

The article is titled, "Resurrecting Greenspan: Hillary Joins the Vast, Rightwing Financial Conspiracy". It ran the day after Obama/Hillary debate in Pennsylvania.

Of special interest to LVT advocates: Property bubble leads to crash landing
op-ed from The Age, Australia's major paper, of March 28, by Bryan Kavanagh.

As reported by The Georgist News:
Tax-shifts needed for social justice: Guardian online posts pro-LVT op-ed "The 12-step programme" by Prem Sikka, April 21.
Institute a land value tax: Projects such as the Jubilee line in London, the building of motorways, roads, parks and other publicly funded amenities have resulted in vast increases in the value of land in adjacent areas. Almost all of it is due to public expenditure rather than any activity by the owners. A land value tax should claw back some of the increase and provide much needed funds."


The Early Day Motion, EDM 1449, below, is the latest to be tabled in Parliament by Austin Mitchell. To date, it has 17 signatories (16th May).

It should be explained that, by the curious conventions of our Parliament, EDMs have to be worded as a single sentence!



Mitchell, Austin

That this House considers that in the light of the nationalisation of one failing buiding society, the help given to markets by the Bank of England's boost to interbank liquidity and the huge benefit given to the financial sector by the Bank's proposal to take on up to £50 billion of unsaleable special purpose vehicles of bundled debt to help the banks, building societies and lending institutions escape the consequences of their own follies is disproportionate, and should be now balanced by ensuring that the financial institutions which have benefited so substantially from the effective privatisation of the great bulk of credit creation by their power to create money via credit cards, bank accounts, mortgages, loans, special purpose vehicles and other financial instruments thus ensuring that the seigniorage on money creation which once came to the people on public credit created by the minting and printing of money, now goes into bank profits are taxed on the credit they create to compensate the taxpayer for the fact that the 97 per cent. of credit creation arrogated by the private sector to use and abuse for its own profit and purposes, rather than the benefit of the public, has been so badly misused and has led to yet another financial crisis of the type financial flesh is all too frequently heir to.