Icelandic Parliament investigating Full Reserve Banking [View all]

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Is Iceland – the wonderful island with just 300 thousand citizens – going to be the first country seriously questioning the privatized money creation and considering Full Reserve Banking proposals? It seems that it might well be the case…

A motion has recently been put forward in the Althing – the Icelandic Parliament – calling for the forming of a committee to report on the benefits/costs of full reserves banking. The motion reads:

“Althing concludes that the minister of finance will form a committee of specialists to research how the separation of money creation and loan function of the banking system can be achieved by limiting banks’ ability to create new deposits through lending.”

Deadlines for submission was December 4th.

More:
http://www.positivemoney.org/2012/12/icelandic-parliament-investigating-full-reserve-banking/