This is what the UKLP has to say on its proposals to reform the financial system in the UK. I quite like the critique of the present system they provide, but I can't get my head round the proposed reforms, with idea like giving the government the power to create fiat money, etc.
What does anybody else think?
its confused. someone has copy and pasted bad moneterist stuff at the top, and this rather contradicts the good laissez-faire stuff at the bottom. the overall blend is not laissez-faire.
my 2cents.
Where there is no property there is no justice; a proposition as certain as any demonstration in Euclid
Fools! not to see that what they madly desire would be a calamity to them as no hands but their own could bring
I just read the manifesto. I agree that their explanation of money creation and FRB is excellent, I would have to work do a better job myself.
However, I'd say their proposals are not only confused but also in many ways mutually contradictory to purpose and conflicting. Indeed I was shocked that the so-called libertarian party is even suggesting Plank 1 as a proposal on its own anyway. They seem to be harbouring under the fallacy that government created money used on capital works and wages of public sector workers could be any basis for creating a market economy. It seems like a decorative way of describing redistribution of resources under a "planned" economy to me.
Needless to say, if thir second proposal is the creation of a genuine gold backed currency, we would witness a flight from their first currency, unless they instituted price controls ala Gresham's Law to counter such movement. This has not been a good introduction to the UK Libertarian Party for me(or at least I think they should change their name)!
"When the King is far the people are happy." Chinese proverb
For Alexander Zinoviev and the free market there is a shared delight:
"Where there are problems there is life."
The LPUK is involved in a by-election campaign at the moment (the election day is tomorrow, in a constituency where a Labour MP lost his seat due to crooked expense claims), but I think that afterwards, some review of policies may come up.
Our first key proposal is to wrest the privilege of creating money from the private banking industry, and to return it to where it rightfully belongs: the Crown.
Sounds libertarian.