Central banks are continuing to help channel trillions of dollars into fossil fuels through policy decisions and direct financing, with overall sums rising in recent years, a new report has found.
Since 2017, Positive Money Europe has been vocally criticizing the way in which the ECB’s corporate quantitative easing programme (CSPP) benefits mainly massive multinational corporations, and in particular those contributing most to climate change.
In our report released today A Green Bank of England, we propose several policies and political reforms that would hardwire the Bank of England for climate sustainability.
Financial markets the world over are increasingly chaotic; either retreating or plunging. Our view remains that there’s a gigantic market crash in the coming future — one that has possibly started now.
In a landmark infrastructure bill passed in December, Congress finally penetrated the Fed’s “independence” by tapping its reserves and bank dividends for infrastructure funding.
In the modern global banking system, all banks need a credit line with the central bank in order to be part of the payments system. Choking off that credit line was a form of blackmail the Greek government couldn’t refuse.
The world economy is slowing down and the authorities are fretting.
Positive Money’s proposals have just been advocated by Martin Wolf, the chief economics commentator at the Financial Times, in an article entitled “Strip private banks of their power to create money“
On Tuesday, March 19, the national legislature of Cyprus overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout. Reuters called it “a stunning setback for the 17-nation currency bloc,” but it was a stunning victory for democracy. As Reuters quoted one 65-year-old pensioner, “The voice of the people was heard.”