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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
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
people get a basic income!
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.
the Chittagong academics are showing interest in another
aspect of Global thinking —
Chris Cook’s partnership proposals.
and Chittagong are only the start. Moves are being
made to contact other universities – both Western
are beginning to move!
Rodney Shakespeare main speaker
in 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
We wish Rodney good luck in Jakarta
Update: February 2004: See "Articles"
for Rodney's initial Report
on the Conference
Reform Innovator Wins Award
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
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
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 of Gregory Palast's latest