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
The 100 Series Designated for SAC and a Possible WWIII
The “100 Series” as these fighter aircraft were labeled were a succession of Mach II capable…See More
Human Be-In - Full Program - 1/14/1967 - Polo Fields, Golden Gate Park (Official)
Human Be-In - Full ProgramRecorded Live: 1/14/1967 - Polo Fields, Golden Gate Park - San Francisco, CAMore Human Be-In at Music Vault: http://www.musicvault....
"So sad to see a nice place be ruined by its inhabitants.... It's that shitholeness spreading…"
"Jesus Christ this is more diabolical than just about anything I've studied even though I knew…"
"Less Prone Nothing wrong with the planet. It's the inhabitants who are the problem."
"That assignment on the blue planet intrigued me a lot. And here we are now! I cannot say it's…"
Sebastion Piñera and 5G
Sebastion Piñera “The start of the bidding process for the 5G network. Let’s listen to the threats…See More
"cheeki kea that was damn funny and cute. Always appreciate your insights and memes! Wish I had a…"
© 2025 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network