The Money Bomb

Description

Public borrowing is caused by the necessity to find the interest on previous borrowings. INTRODUCTION. CHAPTER I. 1. The cash that jingles in your pocket. 2. The diminishing pound. 3. The bulk of the Money Stock. 4. Monetizing your assets. 5. How the volume of money increases. 6. A financial system that's failing the nation. CHAPTER II. 7. The affidavits of Monetarism. 8. The new conservatism. 9. The interest rate lever. 10. Sparking off a lending boom. 11. The private sector gets the message. 12. Counter-inflation in a recession. CHAPTER III. 13. The boom-and-bust syndrome. 14. Crisis of over-production. 15. Asking more pertinent questions. 16. Scottish banks and the Option Clause. 17. The social consequences of restricting credit. 18. Distraught wives and hungry bairns. 19. Preoccupied with the Symbol of Wealth. 20. Modern day comparisons. 21. Why not just stop inflation? CHAPTER IV. 22. The origins of socialism. 23. Perfect system that was long in coming. 24. Socialists who read their bibles. 25. Collectivist ideal of the future. 26. Adapting the Mixed Economy. 27. The public sector drags its feet. 28. Touching on Government Debt. CHAPTER V. 29. The castaways of Salvation Island. 30. An angel from the clouds. 31. Deciding the first note issue. 32. A question of interest. 33. Mr. Oliver solves a problem. 34. Taxing the Island's prosperity. 35. Tom uncovers a vital secret. 36. Taking back their assets. CHAPTER VI. 37. The truth about first-time money. 38. Sound banking. 39. Expansion without public debt. 40. Trying it out in the real world. 41. Stagnation and debt in the Channel Islands. 42. Raising a local currency. 43. No such place as Guernsey? 44. "The urgency of great occasions". 45. Exercising fiscal responsibility. CHAPTER VII. 46. Formation of the Bank of England. 47. The Lender of Last Resort. 48. Beginnings of the National Debt. 49. Paying interest into the Third Millennium. 50. "Money we owe to ourselves". 51. Governments without money. 52. A figure that keeps on escalating. CHAPTER VIII. 53. Too much money chasing too few goods. 54. The inflation psychosis. 55. People who gain from the price spiral? 56. Devaluing the pence in your pocket. 57. Growth versus continued Govemment borrowing. 58. The true cause of primary inflation. 59. Clobbering the traders in the Market Place. 60. The monopoly money of the future. CHAPTER IX. 61. Vanishing profits at the E.G.B. 62. Identifying the Black Economy. 63. Tax Credit and the Poverty Trap. 64. Eluding the Inland Revenue. 65. Taxing the natural resources. 66. The Dinosaur in the basement. CHAPTER X. 67. The Four Principles of Bishop Berkeley. 68. Benjamin Franklin and Colonial Scrip. 69. Scotland and Guernsey. 70. Seeing self-help as a virtue. 71. Local expenditure cuts. 72. Capitalism's Achilles' Heel. 73. The Rates Voucher scheme. CHAPTER XI. 74. A choice between hospitals and armaments? 75. The Money Bomb and the Land fit for Heroes. 76. The Falklands War, -- Britain recovers her nerve. 77. Compensating for the cost of Trident. 78. Lives lost through defence cuts. 79. Guns, Butter, -- and the Dinosaur again. 80. Islands that Whitehall neglected. 81. The true evils of colonialism. 82. Men of vision in a common cause. CHAPTER XII. 83. Postwar revival of Germany and Japan. 84. That hyper-inflation in the Weimar Republic. 85. An economy starting without public debt. 86. End of the Miracle. CHAPTER XIII. 87. From dream into nightmare. 88. Lincoln's greenbacks. 89. Land of the Almighty Dollar. 90. Money, -- Master or Servant? 91. Only in America. 92. Founding of the Federal Reserve Bank. 93. Government borrowing -- Taxation -- Inflation. 94. Sparking off the Great Depression. 95. Speculation, -- and the distortion of real values. 96. Where does all the money go? CHAPTER XIV. 97. An insatiable demand for growth. 98. Replenishing the Cookie Jar. 99. Machine in need of maintenance. 100. Credit goes for export. 101. Tea and sympathy for the Poles. 102. The $23 billion that quietly disappeared. 103. Technology for Russia's gas pipeline. 104. Who gets the best of the bargain? 105. Exchanging capital goods for electronic money. 106. Millions created without sweat or effort. 107. The power of the purse. 108. Bank expansionism that defeats Government policy. 109. Pinpointing a fallacy. CHAPTER XV. 110. Stipulating the conditions. 111. How the Treasury finances its currency issues. 112. The Government's debt-free revenue. 113. Coming to the Proposal. 114. Funding the debt interest. 115. It has to be created in any case. 116. Enumerating the benefits. 117. Living with a Taboo. BIBLIOGRAPHY. INDEX OF NAMES AND REFERENCES. APPENDIX "Convertible Currency" -- P. Q. Collins