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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.
Policy for the Here and Now
Next conference and centre of development
Recommended Action and Suggested Policy for the Future
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 Articles
on this website to get some idea of what is developing.
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
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.
take up Global Justice!
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
• “green” capital projects become
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
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.
are beginning to move!
Shakespeare main speaker in important Islamic
Conference in Indonesia: 26th/27th January,
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
We wish Rodney good luck in Jakarta
Update: February 2004: See "Articles"
for Rodney's initial Report
on the Conference
Here is the latest Global
Justice newsletter from the GJM.org website. Just
click on the banner below.
Reform Innovator Wins Award
The Attwood Awards will be held on the
evening of October 30th 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
Getting your MP to sign EDM
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 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.intraforum.net/money
Here are some pictures
from the launch evening of Gregory Palast's latest book.