Bradbury Pound

[dave50]

Can anyone please explain what the Bradbury pound is?

[factor-fiction]

Has your car been towed away to there?

Or do you mean this: http://en.wikipedia.org/wiki/John_Bradbury,_1st_Baron_Bradbury
Some notes had his signature

[factor-fiction]

This may be what you are referring to though:
http://moneyasdebt.wordpress.com/2013/05/17/bring-back-the-bradbury-pound-interest-free-backed-by-public-credit-issued-by-treasury-rather-than-banks/

[dave50]

I have looked at these links but I cant find an explanation of what it is and why some people are calling for it's return.

[Baldric]

Any help?

http://www.ukcolumn.org/bring-back-the-bradbury

[factor-fiction]

I think it's something UKIP and David Icke have suggested!
Have a look at this.
http://www.ukcolumn.org/bring-back-the-bradbury

[factor-fiction]

Sorry Baldric- I was waiting for a second link to load but gave up after it was hanging for several minutes.
I think these links explain what it is quite well, dave

[chrisgel]

My understanding of it is that the Bradbury Pound was issued by the treasury and not by the Bank of England,
The BoE is, like all central banks, a private concern with shareholders etc. They have been given the license to print our money. So in effect they take paper and ink and print banknotes. They release it into circulation and charge the government the value + interest.
It should be obvious that the country can never repay the interest without issuing more money and incurring more interest.
The argument for the Bradbury Pound is that the issue of money into circulation should be a function of the Treasury which obviously won't charge interest.

[Milvus]

The Bank of England was private until it was nationalised in 1946

[jno]

up till the war, you could go to the Bank of England and pick up the dividends from your shares. Not any more, though.

[chrisgel]

Where does the profit go?
The Bank of England Act 1946, as amended by the Bank of England Act 1998, requires the Bank to pay to HM Treasury, in lieu of dividend on the Bank's capital, on the fifth day of April and October (or prior working date), a sum equal to 25% of the Bank's post-tax profit for the previous financial year or such other sum as the Bank and HM Treasury may agree. The overall effect is that the Bank and HM Treasury will normally share post-tax profits equally.

[factor-fiction]

I can't see it makes any difference in practice- it just sounds good to make it seem we are cutting out 'the bankers'

[Peter Pedant]

IN this case it appears to be making the pound more backed by assets - in which case it is in direct opposition to QE - where money was just printed with the intention of inevitably causing inflation

However.... if he introduced it in 1915 then it was the end of the then God standard and the beginning of printing money - ( see above i.e. Gt war equivalent of QE )

and it must have been a Bradbury that Lloyd George ( the Old Goat or else Welsh Wizard) unfurled in the House of Commons and said: [put on welsh accent] - I know my Redeemer liveth....

coz of the words on the note - see ?

howls of of complaint from LIberal and Tory MPs


Anything with neil farage in it will be mainline Freak-a-nomics