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Ending financial robbery

Nov 20 2014 13:51
*Edward Ingram

IN MY column Taking on those that scam our wealth I gave an outline of the proposal to be debated in the UK parliament on Thursday on how to start ending financial instability.

Financial instability and the resulting economic instability is the means by which opportunities are created for hard-earning folk to be parted from their wealth by powerful institutions, speculators, and billionaires.

I have posted three web pages aimed at the MPs debating this first one of the three issues related to this kind of financial robbery:

1. Money creation that is out of control.

2. Finance that is out of control – borrowing and savings, pensions and annuities, commercial, personal and government finances. These are all out of control – not sufficiently safe or stable. That includes house prices.

3. Currency pricing that is out of control - yet one-third of all the world’s goods and services are exported and imported, clearly all done at the wrong price and at an unpredictable price.

It is hardly surprising that the world’s economies are ALL in a mess.

Users are invited to click on these links:

The first link is the page that explains money creation fallacies, and touches on both of the other two topics because they all link together.

The second link takes readers to the next page of the same website. It explains some absolutely fascinating facts that have been overlooked by our text books. For example, what IS wealth?

This link explains WHY THESE IDEAS HAVE NOT BEEN DEALT WITH BEFORE.

This book is due out soon.

The third link is a preview of the forthcoming book on all of this, entitled Restarting Economics with New Financial Architecture. The architecture is the way we do things: lending, taxation, currency management, money creation, etc. All of these things break well understood and the most BASIC economic and pricing principles.

Reads like a novel

It is no wonder that a professor from South Africa says it will be prescribed reading at universities, and a very senior doctor of economics at India’s Central Bank is publicly encouraging people to read the book. I am having talks here in South Africa too. The UK and the USA central banks only discuss topics with their own kind. The entrance is blocked.

The book explains everything in simple English designed to be understood by everyone. There are extensive side notes for professional readers, but as one economist said of the main text, “It reads like a novel.”

The sub-title for the first of two volumes in the book is Breakfast in the Mountains because that is when (Easter 2014) and where (in the mountains) the ideas were first explained in this way. It fascinated the church people (not financial ones). They asked me: “When will the book be published?”

Interested people are invited to join a discussion group at LinkedIn - just Google search for 'macro-economic design at LinkedIn’ and apply. You can ask Ingram questions there too. Click here to see his press cuttings and publications, and here to view his series of essays for Fin24.

* Edward Ingram is a past investigative quality control engineer of complex systems, who turned to managing investments and learning all about economics and finance from the experts. Combining these disciplines has enabled him to understand what others see, but have not understood.

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edward ingram  |  global economy

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