First World Conference on Interest-free Money — 1st – 2nd November 2010
The Conference had a confluence of forces resulting in a new situation with massive potential.
Conference outcomes: • Policy for the Here and Now • Next conference and centre of development • Recommended Action and Suggested Policy for the Future • Conference Resolution • Action Plan
Read the report by Rodney Shakespeare
January 2006: Rodney Shakespeare has been very busy. In September 2005, he was teaching in Jakarta on the IEF postgraduate programme and also attended a teaching confcerence at McGill university, Montreal. In November, there was a big Islamic Development Bank (and others) conference in Jakarta and, in December, the very significant Universal Paradigm conference in Dhaka. You are invited to read the Universal Paradigm paper in the Articles of the Global Justice Movement website to get some idea of what is developing.
1. Peter Challen and Colin Whitmill made a talking tour in New Zealand during April 2005 which included interviews, broadcasts, a TV appearance and talks in eight cities. He supported New Zealand Democrats for Social Credit in their endeavour to end interest-bearing money and get a new monetary system while also setting out set out the basic principles of Seven Steps to Justice which are essentially concerned with the use of interest-free loans for various forms of productive capacity plus a basic income. Peter expressed confidence that, if New Zealand takes up new monetary policy, it could be the country of the future.
2. Chris Cook has had a big article (“Price dollars in oil, not oil in dollars”) in the Asia Times Online. The paper is linked from the Open Capital website.
3. Rodney Shakespeare is:–
a) lecturing at Trisakti University, Jakarta, Indonesia in September, 2005
b) delivering a major paper to the triennial Sixth International Conference on Islamic Economics, Banking and Finance at Jakarta, in November, 2005
c) delivering a major paper on the Universal Paradigm at Dacca, Bangladesh in December, 2005.
Trisakti and Chittagong make tremendous start
In August, 2004 Rodney Shakespeare was in Jakarta, Indonesia for the inauguration ceremony of the postgraduate programme in Islamic Economics & Finance at The Triskati University. Rodney (possibly with Global Table member Tarek el-Diwany) will be teaching the subject of endogenous loans which is the first big step to end the imposition of interest. Interest is generally unnecessary and endogenous loans are the method by which:—
• public capital projects are built for half the present cost
• private capital ownership becomes widespread throughout the population
• small businesses are freed from the burden of interest
• “green” capital projects become commercially viable.
AND people get a basic income!
Then, just before Christmas, a big conference at the International Islamic University in Chittagong, Bangladesh also welcomed Global Justice endogenous loans. The university has now incorporated The Institute of Political Economy into the university. The Institute will become the regional centre for the promotion of the new thinking and the Bangladesh Minister of Industries has already asked to receive the Institute’s proposals.
Moreover, the Chittagong academics are showing interest in another aspect of Global thinking — Chris Cook’s partnership proposals.
NB. Trisakti and Chittagong are only the start. Moves are being made to contact other universities – both Western and Islamic.
Things are beginning to move!
Rodney Shakespeare will be the main speaker in an important Islamic Conference in Indonesia: 26th/27th January, 2004. The Global Justice Movement is unique in that it has a range of specific policies which can be implemented in Western AND in Islamic societies. Indeed, any country in the world can take up and implement GJM policy because it is positive and helps everybody.
In August 2002 Canon Peter Challen, who is Chair of the Christian Council for Monetary Justice and Rodney Shakespeare were main speakers at the Kuala Lumpur International Islamic Conference “A Stable and Just Global Monetary System”. They introduced “Seven Steps to Justice” as founding the basis for such a system and were well received, being given a private meeting at the highest level of the Malaysian government.
Then Rodney was invited to write the Foreword to The Islamic World-system, the new magnum opus of Professor Masudul Alam Choudhury. Professor Choudhury is the leading moderate academic in the field of Islamic economics. If you want to read the Foreword, go to “Articles” on this website.
There followed an invitation to speak at the Oman conference, which was unfortunately cancelled. However, more recently, came another invitation, this time to be main speaker at the Trisakti University (Jakarta) Islamic Conference on “Money Supply and the Real Economy” in late January, 2004, where the new thinking will be discussed.
The new thinking is positive, radical and benefits everyone, and many are the narrow, vested interests which want to stop its advance. If you want to read Rodney’s paper for the Conference, go to “Articles” on this website and then the paper entitled “Binary Economics“.We wish Rodney good luck in Jakarta
Update: February 2004: See “Articles” for Rodney’s initial Report on the Conference
The Attwood Awards will be held on the evening of October 30th 2003 at the Birmingham and Midland Institute, chaired by John Johansen-Berg. The concerns of Thomas Attwood (1783 to 1856 ), Birmingham’s first MP, namely participative decentralised democracy, the strengthening of local economies, and economic and monetary reform, are shared by many today.
One of this year’s two awards will be presented to Sabine McNeill, programmer and mathematician. She was born in Silesia and educated in Germany but settled in London after leaving her work at CERN, the European Centre for Nuclear Research in Geneva. The award recognises one of her achievements in the voluntary sector: setting up the Forum for Stable Currencies. Regular monthly lectures and debates, offering a platform for a wide range of speakers, are held in the House of Lords when parliament is sitting. Attwood would have rejoiced to see that, at last, monetary reform issues are being discussed by MPs. Interaction with members of Parliament has led to two Early Day Motions, the latest being EDM 854, presented by MP David Chaytor. It is still open for signing and has reached 27 signatures from Labour and Lib Dem MPs. www.prosperityuk.com is sponsoring a postcard campaign to urge your MP to sign.
Getting your MP to sign EDM 854
EDM 854 says: Publicly created money and monetary reform: That this House, concerned at the rising burden of private debt, public borrowing, student borrowing and public-private finance initiatives, notes that the proportion of publicly created money in circulation has fallen from 20% of the money supply in 1964 to 3% today; believes that increasing the proportion of publicly created money in issue could provide a new means of financing public investment; further notes that the use of publicly created money can significantly reduce the cost of public investment by eliminating the need to pay interest; accepts that such a policy can be adopted without be any impact on inflation if suitable regulatory changes are made; and therefore calls upon the Government and the Treasury Committee to commission and publish independent reviews on the procedures for and benefits of increasing the proportion of publicly created money in the economy.
Reminder of next meeting
Wednesday October 22nd Meeting 2003 from 6pm to 9pm in Room G, Royal Court, House of Lords, Westminster, London W1. Westminster tube. Topic: Islamic Alternatives to Interest-Based Banking and Finance: Speakers Waheed Quaiser, Gohar Bilal and Tarek El Diwany. Forum for Stable Currencies, Organiser: Sabine McNeill, Minute Secretary: Peter Challen. For full details see: Sabine’s website: www.forumforstablecurrencies.org.uk
New Initiatives for Public Finance ~ a big idea for the TUC Congress. John Courtneige and David Soori in their article in the September issue of the Voice of the Unions (1st August 2003), brings two parliamentary Early Day Motions (EDMs 854, 1515) to the attention of all trade unionists. [more…]
Here are some pictures from the launch evening – sometime in 2002 – of Gregory Palast’s book, “The Best Democracy Money Can Buy” – which was attended by members of the Global Table – here is a link to information about the book: