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Cobden Centre’s Toby Baxendale talks UK monetary reform with Jeff Tucker of the Mises Institute

Cobden Centre’s Tony Baxendale talks UK monetary reform gold silver

Toby Baxendale is chairman of the UK Cobden Centre, a think tank that aims to “promote social progress through honest money, free trade and peace”. He recently sat down with Jeff Tucker (he of bow-tie fame) of the Mises Institute to talk about monetary reform in the UK.

Take-aways from the interview are:

  • Douglas Carswell MP introduced legislation that in the future would require UK banks to offer either a custodial account for safe keeping or a traditional account where a customers deposits are lent out.
  • The idea of the legislation is to reintroduce the concept of a bank being a fiduciary of customers money
  • If banking reform can’t be pushed forward in this environment when can it?
  • Important macro implication to this, it would limit the central bank’s ability to inspire the creation of massive amounts of new money.
  • Politicians often say to the electorate that i’m not going to take from ‘x’ but i’m going to give a lot to ‘y’ – funded through government borrowing. This legislation would force honest politics – allowing politicians to only spend based on what they can raise in taxes.
  • Staggering that more people around the world don’t focus more on the absolutely jugular which is monetary reform
  • The prospects for the bill passing are slim at the moment – but that won’t stop the determination to keep pushing the bill going forward
  • Inspiration for the Cobden Centre based on Hayek’s call fro a sound money movement to rival the corn law reform movements of the 1830s/40s

All this and more here. Must watch:

Cobden Centre’s Tony Baxendale talks UK monetary reform gold silver

 

 

Link to this article: : http://www.goldmadesimplenews.com/gold/cobden-centre%e2%80%99s-tony-baxendale-talks-uk-monetary-reform-with-jeff-tucker-of-the-mises-institute-4004/

Posted by on Jun 3 2011. Filed under Analysis, Gold News, Interviews. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

10 Comments for “Cobden Centre’s Toby Baxendale talks UK monetary reform with Jeff Tucker of the Mises Institute”

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