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Old 30-11-2010, 03:11 PM   #41
hugo_rune
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Came home from work this afternoon to find a letter from my MP Alok Sharma. And on posh House of Commons stationery as well.

Thank you for your email of 16th November regarding money supply which I read with interest.

It is clear that the FSA's existing regulatory framework has proved to be ineffective in constraining particularly risky lending and borrowing. Rather than the failed Tripartite arrangement introduced by Gordon Brown, the Government will restore macroprudential control to the Bank of England. The Independent Commission on Banking, chaired by Sir John Vickers, will consider the structure of banking in the UK, competition in the industry and how to get the best deals for customers and taxpayers. The Commission will report next year. Ministers have committed to bringing forward detailed proposals to foster diversity in financial services, promote mutuals (where customers profit share) and create a more competitive banking industry.

The main risk of a government increasing its money supply in the way you suggest is inflation. The Government has had to make some tough decisions in order to achieve a sustainable, balanced solution to the difficult position the we found ourselves in. The UK economy was in particularly parlous state because the last government failed to fix the roof whilst the sun was shining, leading to a situation where out of every £4 spent by the government, £1 was borrowed. George (don't call me Gideon) Osbourne has set us on a path to restore confidence in the UK economy by clearly demonstrating that we can live within our means. It is not sustainable to continue in a manner that sees the country paying £120million per day in servicing our national debt.

Douglas Carswell's Financial Services (Regulation of Deposits and Lending) Bill, did not receive its second reading on Friday 19th November and is unlikely to have sufficent parlimentary time to be discussed further at this time but the points contained within have been noted by ministers.

Thank you once again for contacting me on this matter

Alok Sharma MP


Anyone else who emailed an MP had a response yet?
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Old 30-11-2010, 04:44 PM   #42
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Same here, a letter from Dr. Wm. McCrea promising that this would be brought up in Parliament also on HoC note paper.

But then a year ago I got a letter from Nick Clegg promising he would maintain our freedoms!
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Old 30-11-2010, 04:54 PM   #43
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Quote:
Originally Posted by dolores1 View Post
Same here, a letter from Dr. Wm. McCrea promising that this would be brought up in Parliament also on HoC note paper.

But then a year ago I got a letter from Nick Clegg promising he would maintain our freedoms!
I hope you wiped ya butt with it.

The paper does look pretty absorbent.
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Old 30-11-2010, 06:28 PM   #44
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I received my letter within 2-3 days but i don't think he got the point of the letter or just avoided any real answers in his reply. no mention of the banks lending the governments money with interest and he kinda pan it to say i was suggesting the government print its way out of the crises when that wasn't the point.

This was my reply..


Thank you for your email of 18th november about the money supply and the government printing money

i have a great deal of sympathy with you over the failure of the financial system over the last few years. Like you, I think that we have become overly reliant on consumption, with too much debt and far too much greed in the award of, for instance bonuses, similarly, you will know that under the last government there was indeed the "transfer of wealth to the few" in that the gap between the rich and the poor actually grew, astonishingly.

However, i am afraid i do not accept your premise that the government should therefore print money to spend on the economy. down the road lies galloping inflation and it is what happened, for instance, in the Weimar Republic in Germany in the 1920s and contributed eventually to the rise of national socialism.

With best wishes,
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Last edited by wakeup2nwo; 30-11-2010 at 06:28 PM.
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Old 02-12-2010, 05:02 PM   #45
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Bump
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Old 02-12-2010, 05:05 PM   #46
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2 weeks and no reply...
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Old 02-12-2010, 05:24 PM   #47
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Judging by the responses by MP's it seems what most people would suspect to be true. Not sure if it's arrogance, incompetence or complicity, but either way they aren't going to try to do anything about it.

Seems most of them are too busy wanting to tow the party line regarding cuts, and how bad the other guy is. Waste of time, all of them
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