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
Sustenance
"Bacon health to the nation for one and all and stealth for operations elsewhere in the war. Yip a…"
The Consequence of Loneliness: Another Missing Person Case
Chapter I“Unit 7, Unit 7. Do you read? This is dispatch!”“This is Unit 7, over!” Deputy Patterson…See More
Devo - Fresh
"Fresh" is from Devo's 2010 album, Something For Everybody. Video producer – Brian Carr/David VotteroVideo director – Gerald Casale & Davy Forcehttps://www.C...
"Remember that song by Alan Parsons "Eye in the Sky"?"
© 2025 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network