Iceland looks at ending boom and bust with radical money plan
Icelandic government suggests removing the power of commercial banks to create money and handing it to the central bank
In Iceland, as in other modern market economies, the central bank controls the creation of banknotes and coins but not the creation of all money
Iceland's government is considering a revolutionary monetary proposal - removing the power of commercial banks to create money and handing it to the central bank.
The proposal, which would be a turnaround in the history of modern finance, was part of a report written by a lawmaker from the ruling centrist Progress Party, Frosti Sigurjonsson, entitled "A better monetary system for Iceland".
"The findings will be an important contribution to the upcoming discussion, here and elsewhere, on money creation and monetary policy," Prime Minister Sigmundur David Gunnlaugsson said.
The report, commissioned by the premier, is aimed at putting an end to a monetary system in place through a slew of financial crises, including the latest one in 2008.
According to a study by four central bankers, the country has had "over 20 instances of financial crises of different types" since 1875,Read on here...
Comment
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
Latest Activity
- Top News
- Everything
"This screenshot is from a book found by a blogger in his research and gives an eye witnessed…"
The Hunt - Official Trailer [HD]
"A former ANTIFA member was interviewed here recently and this would not be far from actual reality…"
Legacy of Supposedly Inferior Aircraft Outmatching Their Enemies
We think of the Korean War aerial combat as the classic dogfights between the American F-86 Sabre…See More
"This is just another form of a feudal globalism dictated by corporate technocrats bragging about…"
What is Area 2 and What Goes on There?
We have all heard of Area 51 and S-4, along with such terms as Water Town, Papoose Lake,…See More
STRANGE THINGS HAPPENING IN YELLOWSTONE
It’s not the fact that Yellowstone National Park sits atop a super volcano that hasn’t erupted in…See More
Austrian police raid house of man who leaked Israeli ambassador video making genocidal comments
In a new ITV documentary, Breaking Ranks: Inside Israel’s War, former Israeli soldiers describe how Gaza civilians were killed, often without warning, in an ...
WARHAMMER 40,000 | 1980's GRIMDARK MOVIE
WARHAMMER 40,000 | 1980's GRIMDARK MOVIEThis is a Concept Movie Trailer made with the help of AI. This video is created purely for fun and out of curiosity a...
"Tavistock Timing"
The Ringside View
Down in the streets where the animals meetWhere tear gas flies and people get beatWhere…See More
© 2025 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network