Perhaps another line of research, another line to propose hypotheses or solutions is the use of complementary currencies.

http://www.kapitalverdad.org

http://personales.ya.com/kapitalverdad

Thanks.

There are several academic papers. The most comprehensive is:

http://www.paecon.net/PAEReview/issue53/KeenStandish53.pdf

I wish I had time to post all the relevant papers here! If I manage to hire staff then at some stage they could do that for me. In the meantime, some of the relevant papers are at:

http://www.debtdeflation.com/blogs/research/

one big ask; in anticipation of the next book it would be great to have a maths curriculum so that those of us who arent mathematicians can learn the maths we need to understand the book

Top Elite Level:

Sir Fred ‘the Shred’ Goodwin, the former chief executive of RBS, his former chairman Sir Tom McKillop, and Andy Hornby and Lord Stevenson of Coddenham, respectively the former CEO and chairman of HBOS – the four men who led two of Britain’s biggest banks to the brink of collapse – when they appeared before the treasury committee (a panel of MPs investigating the origins of the banking crisis) and the nation – knew perfectly well that they would not face prosecution for saying sorry, as the law cannot and will not act retrospectively. During cross examination they had to admit that none of them had any qualification in banking. These banks were bailed out by the taxpayer to the tune of hundreds of billions of pounds.

Middle Level:

When the British economy was booming, Gordon Brown, Chancellor of the Exchequer, was making statements saying economy was fragile, calling for wages restraint, that he would reduce taxes when it was prudent to do so.

Economists were kept in the dark not having access to the true state of debt and deficit being racked up by the government and elite banksters.

Banks employed highly qualified economists, whilst they were kept busy, engrossed in theories and complex analysis of economics, producing reports with all their graphs, predictions and strategy, which they presented their to their top elite management at regular board meeting. Top elite level management made sure their economists were well paid for their hard work and commended them on the high standard reports and presentation. But as soon as the economists had left the board room, the elite management threw their report into the garbage bin.

Top elite management had a different agenda in mind. Economists oblivious to the scams ubiquitous throughout the banking industry, it rendered their complex, finely tuned analysis and reports of economies and banking to be not worth the paper they were written on. Whilst banksters and their politician accomplices are involved in cash for honors, cash for influence legislation, regulation, rating agencies, insider dealing and control the media, they make a farce of economic analysis and a mockery of the law.

I have no doubt that some economists were involved with the banksters and their scams. However, whilst the scams were going on, in principle and in law all those involved were in possession of a Constructive Notice and Constructive Trust. Their silence, off course, was deafening.

It is both gross and obvious that the only way for the bankers scams to work and to succeed – they had to be wilfully calculated with the intention to defeat existing strict banking regulation and the law. There now is sufficient evidence to have the perpetrators of these crimes, both in the USA and UK, brought to justice on equitable grounds inter alia, and as a matter in and of public interest.

Select Committee on Treasury, 22 JANUARY 2008, Minutes of Evidence

Hector was appointed FSA Chief Executive at the end of July 2007 and in July 2010 was appointed Deputy Governor Designate of the Bank of England and CEO designate of the Prudential Regulation Authority which will be the subsidiary of the Bank of England responsible for prudential regulation of Banks and Insurers. He is also a member of the interim Financial Policy Committee of the Bank of England.

Here is Mr Sants response to questions from Mr Jim Cusins MP in relation to regulation.
Mr Sants: “I do not think that it is reasonable to expect financial regulators to have perfect predictive powers—nobody has perfect predictive powers—you cannot expect us to get everything right all the time in terms of predicting what will happen to the market places and I think you cannot expect us, nor would it be a desirable outcome for society, to run the market place.
We do not have a crystal ball that forecasts everything”.

The solution to Mr Sants concern is simple, I would remind all in authority of the following: The basis of all proper regulation that will address any “foreseen and unforeseen” abuse, therefore eliminating the need for a crystal ball and the inequitable and illegitimate use of the retrospective loop-hole in the law. It also is a deterrent to any person conspiring to abuse the system, by placing them in possession of a constructive notice and constructive trust:

The Law shall not be defeated: In principle and in law, the Court has the power to impute an assumption of guilt until proved otherwise. For regulation to be proper and effective, it must, at all times, impute an assumption of guilt until proved otherwise, therefore, the actions and behaviour of a banker rests upon him to prove that he is not guilty of any wrong doing.

He must be held liable for the costs of any inquiry proceedings and all other incidental costs incurred in the course of its investigations pertaining to the cause. The same must also apply to any other person involved. It therefore would be in the interests of an accused person to make available discovery of all material evidence as quickly as possible to reduce the costs of the inquiry.

Whilst there is no proper regulation enshrined in law, there is no legal basis upon which government or any bank or institution can have legitimate authority.

However, the Bankers have cost the British taxpayer £45Billion and reported in the Daily Mail, Tuesday, 20th December 2011, by Becky Barrow, that Big firms have been let off £25billion in tax. A few months earlier it was reported that Barclay’s Bank were let off 26% in corporation tax. All evasion of Tax and bail out money must be clawed back. This of course will require radical measures of enforcement. I would advise therefore, it is both gross and obvious that these companies tax returns were wilfully calculated with the intention to defeat. Notice be issued of proceedings; Restraint and charging orders in the nature of Mareva to preserve or claw back property and assets to be available for a criminal court upon convicting of the accused person to confiscate the proceeds of crime and to impose a fine.

I would remind all in authority that the pre 1997 strict banking regulation is still on the statute book.

Just as economists strive to make economics as accurate as possible and if the study of economics is to have any meaning it is also essential therefore, that the law and proper regulation in relation to bankster’s scams is designed to protect and prevent any abuse and corruption of the financial system and that it is part of the curriculum of every university.

Denis Horner.
UK