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M4n writes "“Of all the ways of organising banking, the worst is the one we have today” - Mervyn King, Governor of the Bank of England Oct 2010
London based 'Positive Money' are gaining traction for an alternative to the fractional reserve banking system that enabled the recent global financial crisis. They have been making significant progress and are talking to members of parliament, economists and engaging with the public, many of whom are showing significant interest in their ideas.
Under the current system, the power to create money belongs to high street banks like Lloyds, Barclays, HSBC and RBS. In fact, all the numbers in your bank account were created by them, not by the UK government. Hard to believe? Ask Martin Wolf from the Financial Times:
Banks create new money (the numbers in your bank account) when they make loans. As the Bank of England says, “When banks make loans they create additional [bank] deposits for those that have borrowed the money.” This means that nearly every pound in the economy today was created when somebody went into debt. All the money that we need to trade, to buy food, and to run businesses, must be borrowed from the profit-seeking banking sector, at a huge cost to us, and a massive benefit to them." Link to Original Source top
M4n (1472737) writes "Despite countless reassurances that no harmful levels of radiation from the Japan nuclear fallout would hit the US from the EPA, the University of Berkeley in California is now reporting that rainwater in San Francisco water has now been detected at levels 18,100% above federal drinking water standards.
Iodine-131 was measured in a rainwater sample taken on the roof of Etcheverry Hall on UC Berkeley campus, March 23, 2011 from 9:06-18:00 PDT. The 3 Liters of rainwater collected contained 134 Becquerels of Iodine for an average of 20.1 Becquerel per liter, which equates to 543 Picocuries per litre.
The federal drinking water limit for Iodine-131 is 3 Picocuries per liter, putting the rainwater sample at 18,100% above the federal drinking water limit." Link to Original Source top
M4n writes "The founder of Facebook says the social network will return to its previous terms of service regarding user data.
In a blog post Mark Zuckerberg said the move was temporary "while we resolve the issues that people have raised".
Users had complained after new terms of service seemed to suggest Facebook would retain personal data even if someone deleted their account.
Originally defending the changes, Mr Zuckerberg had said it was to better reflect how people used the site.
He had said the changes were made to ensure that if a user deleted his or her account any comments or messages he or she had left on a friend's Facebook page would not also disappear." top
M4n writes "Dame Stella Rimington, the former head of MI5, has warned that the fear of terrorism is being exploited by the Government to erode civil liberties and risks creating a police state.
Dame Stella accused ministers of interfering with people's privacy and playing straight into the hands of terrorists.
"Since I have retired I feel more at liberty to be against certain decisions of the Government, especially the attempt to pass laws which interfere with people's privacy," Dame Stella said in an interview with a Spanish newspaper.
"It would be better that the Government recognised that there are risks, rather than frightening people in order to be able to pass laws which restrict civil liberties, precisely one of the objects of terrorism: that we live in fear and under a police state," Dame Stella said in an interview with a Spanish newspaper."