Forum for Stable Currencies
Encyclopedia
Forum for Stable Currencies is a political advocacy group in the United Kingdom
seeking economic democracy
through freedom from national debt. Founded in 1998, the group is a non-governmental organization
without governmental funding. In 2003, the New Statesman
reported that the forum was "attracting leading figures from the world of small business and across the political spectrum." 2006's Market, Schmarket: Building the Post-capitalist Economy refers to the efforts of the Forum to "democratize the process of money creation" as "sterling work."
, motivated by his opposition to usury
, and Sabine K McNeill, a mathematician
and system analyst, created the Forum for Stable Currencies at the House of Lords
. It was the outcome of contacts with the Christian Council for Monetary Justice and organising the Campaign for Interest-Free Money through weekly meetings at the Global Internet Cafe near Piccadilly, London. McNeill had started the first Local Exchange Trading System in London in 1989 and organised Forum meetings mainly at the House of Lords, but also at the House of Commons under the auspices of Austin Mitchell
MP. There, on behalf of the Forum, Austin Mitchell MP tabled Early Day Motions relating to public credit. The first submission to the Treasury Select Committee was entitled "Green Credit for Green Purposes" .
The Forum has hosted notable speakers, including Joseph Huber
who on June, 2001 delivered a speech before the Forum at the House of Lords detailing the advantages of economic reform, and Nobel Peace Prize
winner Muhammad Yunus
who in February 2008 spoke at St. James's Church, London Piccadilly. Other speakers have included James Gibb Stuart
, Bernard Lietaer
, Margrit Kennedy
, Michael Rowbotham
, and Stephen Zarlenga.
Among issues of concern to the Forum is the "skimming", or overcharging of fees, by banks, which Corporate Watch cites the Forum as estimating to be the cause of 50% of bankruptcies in the UK. A recent political initiative of the Forum are two on-line petitions targeted at the Treasury Select Committee titled Stop the Cash Crumble to Equalize the Credit Crunch and Financial Fairness for Voters and Taxpayers, please! The corresponding article Public Cash for the Real Economy, The ultimate request, by on-line petition was published by the Journal Accountancy Business and the Public Interest.
In 2009, the Forum's Early Day Motion
addressed the Enforcement of the Bank of England Act 1694 which was written with the intention not to oppress Their Majesties' subjects.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
seeking economic democracy
Economic democracy
Economic democracy is a socioeconomic philosophy that suggests a shift in decision-making power from a small minority of corporate shareholders to a larger majority of public stakeholders...
through freedom from national debt. Founded in 1998, the group is a non-governmental organization
Non-governmental organization
A non-governmental organization is a legally constituted organization created by natural or legal persons that operates independently from any government. The term originated from the United Nations , and is normally used to refer to organizations that do not form part of the government and are...
without governmental funding. In 2003, the New Statesman
New Statesman
New Statesman is a British centre-left political and cultural magazine published weekly in London. Founded in 1913, and connected with leading members of the Fabian Society, the magazine reached a circulation peak in the late 1960s....
reported that the forum was "attracting leading figures from the world of small business and across the political spectrum." 2006's Market, Schmarket: Building the Post-capitalist Economy refers to the efforts of the Forum to "democratize the process of money creation" as "sterling work."
History
In 1998, Merlin Hanbury-Tracy, 7th Baron SudeleyMerlin Hanbury-Tracy, 7th Baron Sudeley
Merlin Charles Sainthill Hanbury-Tracy, 7th Baron Sudeley, FSA is a British peer, author and veteran right-wing activist. In 1941, at the age of three, he succeeded his first cousin once removed, the 6th Lord Sudeley, to the Barony of Sudeley and until the House of Lords Act 1999 sat in that body...
, motivated by his opposition to usury
Usury
Usury Originally, when the charging of interest was still banned by Christian churches, usury simply meant the charging of interest at any rate . In countries where the charging of interest became acceptable, the term came to be used for interest above the rate allowed by law...
, and Sabine K McNeill, a mathematician
Mathematician
A mathematician is a person whose primary area of study is the field of mathematics. Mathematicians are concerned with quantity, structure, space, and change....
and system analyst, created the Forum for Stable Currencies at the House of Lords
House of Lords
The House of Lords is the upper house of the Parliament of the United Kingdom. Like the House of Commons, it meets in the Palace of Westminster....
. It was the outcome of contacts with the Christian Council for Monetary Justice and organising the Campaign for Interest-Free Money through weekly meetings at the Global Internet Cafe near Piccadilly, London. McNeill had started the first Local Exchange Trading System in London in 1989 and organised Forum meetings mainly at the House of Lords, but also at the House of Commons under the auspices of Austin Mitchell
Austin Mitchell
Austin Vernon Mitchell is a British Labour Party politician who has been the Member of Parliament for Great Grimsby since a 1977 by-election.-Education and early life:...
MP. There, on behalf of the Forum, Austin Mitchell MP tabled Early Day Motions relating to public credit. The first submission to the Treasury Select Committee was entitled "Green Credit for Green Purposes" .
The Forum has hosted notable speakers, including Joseph Huber
Joseph Huber
Joseph Huber is the chair of economic and environmental sociology at Martin Luther University of Halle-Wittenberg.He has written influential papers on monetary policy, for instance "Seigniorage Reform and Plain Money"...
who on June, 2001 delivered a speech before the Forum at the House of Lords detailing the advantages of economic reform, and Nobel Peace Prize
Nobel Peace Prize
The Nobel Peace Prize is one of the five Nobel Prizes bequeathed by the Swedish industrialist and inventor Alfred Nobel.-Background:According to Nobel's will, the Peace Prize shall be awarded to the person who...
winner Muhammad Yunus
Muhammad Yunus
Muhammad Yunus is a Bangladeshi economist and founder of the Grameen Bank, an institution that provides microcredit to help its clients establish creditworthiness and financial self-sufficiency. In 2006 Yunus and Grameen received the Nobel Peace Prize...
who in February 2008 spoke at St. James's Church, London Piccadilly. Other speakers have included James Gibb Stuart
James Gibb Stuart
James Gibb Stuart is a financial author , owner of Ossian Publishers Ltd, and chairman of the Scottish Pure Water Association. He is known for his outspoken opposition to the European Union, and for publication of a book on the reform of British currency, The Money Bomb, in which he advocates a...
, Bernard Lietaer
Bernard Lietaer
Bernard Lietaer is an economist, author and professor. He studies monetary systems and promotes the idea that communities can benefit from creating their own local or complementary currency, which circulate parallel with national currencies.Bernard Lietaer, the author of "The Future of Money:...
, Margrit Kennedy
Margrit Kennedy
Margrit Kennedy is a German architect, professor, environmentalist, author and an advocate of complementary currencies and an interest and inflation-free economy....
, Michael Rowbotham
Michael Rowbotham
Michael Rowbotham is a political and economic writer and commentator based in the UK who is best known for his two books The Grip of Death and Goodbye America...
, and Stephen Zarlenga.
Among issues of concern to the Forum is the "skimming", or overcharging of fees, by banks, which Corporate Watch cites the Forum as estimating to be the cause of 50% of bankruptcies in the UK. A recent political initiative of the Forum are two on-line petitions targeted at the Treasury Select Committee titled Stop the Cash Crumble to Equalize the Credit Crunch and Financial Fairness for Voters and Taxpayers, please! The corresponding article Public Cash for the Real Economy, The ultimate request, by on-line petition was published by the Journal Accountancy Business and the Public Interest.
In 2009, the Forum's Early Day Motion
Early day motion
An Early Day Motion , in the Westminster system, is a motion, expressed as a single sentence, tabled by Members of Parliament for debate "on an early day" . Controversial EDMs are not signed by Government Ministers, PPS or the Speaker of the House of Commons and very few are debated on the floor...
addressed the Enforcement of the Bank of England Act 1694 which was written with the intention not to oppress Their Majesties' subjects.
See also
- First Report on the Public CreditFirst Report on the Public CreditThe First Report on Public Credit was the first of three major reports on economic policy issued by American Founding Father and first United States Treasury Secretary Alexander Hamilton on the request of Congress. The report analyzed the financial standing of the United States of America and made...
- Second Report on Public CreditSecond Report on Public CreditThe Second Report on Public Credit was the second report of three major reports on economic policy issued by Founding Father of the United States and first United States Treasury Secretary Alexander Hamilton on the request of Congress for consideration on establishing a national banking system with...
- Monetary reformMonetary reformMonetary reform describes any movement or theory that proposes a different system of supplying money and financing the economy from the current system.Monetary reformers may advocate any of the following, among other proposals:...