mathematically perfected economy™ (MPE™)    1  :   the singular integral solution of  1) inflation and deflation,  2) systemic manipulation of the cost or value of money or property, and  3) inherent, artificial multiplication of debt into terminal systemic failure;    2  :  every prospective debtor's right to issue legitimate promises to pay, free of extrinsic manipulation, adulteration, or exploitation of those promises, or the natural opportunity to make good on them;    3  :  our right to certify, to enforce, and to monetize industry and commerce by this one sustaining and truly economic process.

MORPHALLAXIS, January 14, 1979.

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 Post subject: Mervyn King Governor of BoE calls for Merger of G20 and IFM
PostPosted: 20 Jan 2010, 12:48 am 

Joined: 29 Jan 2008, 6:06 pm
Posts: 731
Bank of England Governor Mervyn King calls for merger of G20 and IMF

"Mr King has frequently expressed his frustration with the IMF"
Image Source: telegraph.co.uk

Edmund Conway and Angela Monaghan wrote:
Published: January, 19th 2010 7:42PM GMT
Bank of England Governor Mervyn King calls for merger of G20 and IMF
The G20 should effectively merge with the International Monetary Fund, under a radical proposal to overhaul management of the international economy issued by the Bank of England Governor.

Mervyn King said that unless politicians act to create an international body with the authority to reform the monetary system, the world would be consigned to another crisis in a matter of years. He warned that although much attention was being paid to efforts to overhaul the financial sector, in the meantime the global economic imbalances which fuelled the crisis were worsening.

The Governor has often voiced concern about these imbalances, under which rich countries have been reliant on borrowing to pay for cheap exports from overseas. In his speech at Exeter University last night, he indicated that in order to fix them, politicians would have to transform the multilateral institutions responsible for monitoring the global economy.

Pointing out that with so many economies involved in the global trading system, the idea of another Bretton Woods conference is "wholly impractical". Mr King suggested the G20 may be the ideal forum to push through the necessary reforms, urging exporters to spend more and deficit economies such as the UK and US to save more.

He said: "The legitimacy and leadership of the G20 would be enhanced if it were seen as representing views of other countries too. That could be achieved if the G20 were to metamorphose into a Governing Council for the IMF, and at the same time acquire a procedure for voting on decisions."

Mr King has frequently expressed his frustration with the IMF, which repeatedly warned about the scale of global imbalances in the years running up to the crisis, without achieving any notable reforms in creditor or debtor nations. However, his plan may be opposed by the US, which holds the balance of power at the IMF.

David Blanchflower has called for the Monetary Policy Committee (MPC) he formerly sat on to be "disbanded". In a column in the New Statesman,http://www.newstatesman.com/ he claimed that it failed to see the recession coming and made it worse by acting too late.

"The MPC's days are numbered, certainly in terms of its remit and probably its membership," he said. "After the election we are going to have to reconsider who sets monetary policy."

He added that the committee had failed adequately to communicate quantitative easing. The Bank declined to comment.




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[PDF] Speech by Mervyn King
Bank of England ... Mervyn King Deputy Governor, Bank of England 1 Introduction ...
people.exeter.ac.uk/tkirsano/speech51.pdf - 2003-02-05 - Text Version

[PDF] Natural and unnatural frameworks
Page 1. 63 I na recent lecture, Mervyn King, Deputy Governor of the Bank of
England, cited with approval a talk given by Keynes in 1923. ...
[ More results from people.exeter.ac.uk/tkirsano ]

University of Exeter - Business - Networks - Business Leaders ...
... Next Events. Tuesday 19 January Gala Dinner with the Governor of the Bank of England,
Mr Mervyn King. ... Governor of the Bank of England, Mr Mervyn King. ...
www.exeter.ac.uk/business/networks/forum.php - 24k - Cached

Central Bank Corruption Insider Trading and Scandals
... how BBC business editor Robert Peston obtained details of confidential talks between
banking chiefs, the Chancellor and Bank of England governor Mervyn King. ...
projects.exeter.ac.uk/RDavies/arian/scandals/centralbanks.html - 33k - 2009-10-08 - Cached

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While 12,000 homes a day continue to go into foreclosure, mathematically perfected economy™ would re-finance a $100,000 home with a hundred-year lifespan at the overall rate of $1,000 per year or $83.33 per month. Without costing us anything, we would immediately become as much as 12 times as liquid on present revenue. Transitioning to MPE™ would apply all payments already made against existent debt toward principal. Many of us would be debt free. There would be no housing crisis, no credit crisis. Unlimited funding would immediately be available to sustain all the industry we are capable of.

There is no other solution. Regulation can only temper an inherently terminal process.

If you are not promoting mathematically perfected economy™, then you condemn us to monetary failure.

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