Thursday, 26 March 2015
The Canadian “Committee for Monetary and Economic Reform” lawsuit.
CMER is taking legal action with a view to forcing Canada’s central bank, the Bank of Canada, to revert to one of its founding principles which was to provide government with interest free loans. CMER has my full backing.
Far as I can see, the latter interest free loans come to much the same thing as the combined monetary and fiscal policy system advocated by Positive Money. That consists of having the central bank supply government with money (which government can spend any way it likes) when the central bank thinks inflation and unemployment justify extra demand.