{"id":2624,"date":"2008-07-17T21:20:16","date_gmt":"2008-07-17T20:20:16","guid":{"rendered":"http:\/\/www.ethicalquote.com\/index.php\/2008\/07\/17\/financial-multinationals\/"},"modified":"2008-07-22T21:30:43","modified_gmt":"2008-07-22T20:30:43","slug":"financial-multinationals","status":"publish","type":"post","link":"https:\/\/www.covalence.ch\/index.php\/2008\/07\/17\/financial-multinationals\/","title":{"rendered":"Financial multinationals"},"content":{"rendered":"<p><a href=\"mailto:sabine@3dmetrics.co.uk\" target=\"_blank\" title=\"080722_fin.jpg\"><img decoding=\"async\" src=\"http:\/\/www.ethicalquote.com\/newTemplate\/wp-content\/uploads\/2008\/07\/080722_fin.jpg\" title=\"080722_fin.jpg\" alt=\"080722_fin.jpg\" align=\"right\" \/><\/a><span lang=\"EN-GB\">Dear Covalence people, I just read about your admirable work on the csr-chicks list. I\u2019m also glad that you include &#8220;The Ethics of Banking&#8221;! For financial institutions are a law unto themselves and the author of <\/span><a href=\"http:\/\/www.honest-money.com\/\" target=\"_blank\"><span lang=\"EN-GB\">Honest Money<\/span><\/a><span lang=\"EN-GB\"> gave a talk at our <\/span><a href=\"http:\/\/www.forumforstablecurrencies.org.uk\/index.htm\" target=\"_blank\"><span lang=\"EN-GB\">Forum for Stable Currencies<\/span><\/a><span lang=\"EN-GB\"> on the difference between balance sheets of banks and of normal companies&#8230; In our view, Central banks, PFIs (Private Financial Institutions) and OFCs (Other Financial Corporations) create imbalances through retail and wholesale credit while nobody creates the interest that is required to pay for credit. Mathematically this \u2018exponential growth\u2019 of compounding interest on interest is unsustainable. Hence our submission to the Treasury Select Committee <\/span><a href=\"http:\/\/greencredit.files.wordpress.com\/2007\/01\/green-credit.pdf\" target=\"_blank\"><span lang=\"EN-GB\">Green Credit for Green Purposes<\/span><\/a><span lang=\"EN-GB\"> on the occasion of its inquiry into the Stern report. In that vein of thinking, our latest political tool for making a difference is the on-line petition <\/span><a href=\"http:\/\/www.gopetition.co.uk\/petitions\/stop-the-cash-crumble-to-equalize-the-credit-crunch.html\" target=\"_blank\"><span lang=\"EN-GB\">Stop the \u201cCash Crumble\u201d to Equalize the \u201cCredit Crunch\u201d<\/span><\/a><span lang=\"EN-GB\">. If you were to give this thinking your time, it would be marvellous. The Guardian published <\/span><a href=\"http:\/\/www.guardian.co.uk\/commentisfree\/2008\/mar\/20\/jamesrobertsonmoneyfromthi\" target=\"_blank\"><span lang=\"EN-GB\">Money from Thin Air<\/span><\/a><span lang=\"EN-GB\">. Maybe they\u2019d go further and deeper. Looking forward to hearing from you, Sabine. Image source: gopetition.co.uk<o:p><\/o:p><\/span><\/p>\n<p class=\"MsoNormal\"><a href=\"http:\/\/www.gopetition.co.uk\/petitions\/stop-the-cash-crumble-to-equalize-the-credit-crunch.html\" target=\"_blank\"><span lang=\"EN-GB\">Money Supply or Public Credit Petition<\/span><\/a><span lang=\"EN-GB\"> &#8211; Parliamentary Scrutiny via the Treasury Select Committee <\/span><span lang=\"EN-US\"><a href=\"http:\/\/www.greencredit.org.uk\/\" target=\"_blank\">Green Credit for Green Growth<\/a>, Lobbying the Treasury Select Committee <a href=\"http:\/\/www.forumnews.wordpress.com\/\" target=\"_blank\">In the Spirit of the Forum for Stable Currencies<\/a>, blog <a href=\"http:\/\/www.forumforstablecurrencies.org.uk\/\" target=\"_blank\">Forum for Stable Currencies<\/a>, website<\/span><span lang=\"EN-GB\"><o:p><\/o:p><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-GB\">Message received by Covalence | Region: <\/span><st1:place><span lang=\"EN-GB\">Global<\/span><\/st1:place><span lang=\"EN-GB\"> | <\/span><span lang=\"EN-GB\">Source: <\/span><a href=\"mailto:sabine@3dmetrics.co.uk\" target=\"_blank\"><span lang=\"EN-GB\">Sabine Kurjo McNeill<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dear Covalence people, I just read about your admirable work on the csr-chicks list. I\u2019m also glad that you include &#8220;The Ethics of Banking&#8221;! For financial institutions are a law unto themselves and the author of Honest Money gave a talk at our Forum for Stable Currencies on the difference between balance sheets of banks&hellip;<\/p>\n","protected":false},"author":665,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"wds_primary_category":0,"wds_primary_post_series":0,"footnotes":""},"categories":[6],"tags":[],"post_series":[],"class_list":["post-2624","post","type-post","status-publish","format-standard","hentry","category-messages","entry","no-media"],"_links":{"self":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts\/2624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/users\/665"}],"replies":[{"embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/comments?post=2624"}],"version-history":[{"count":0,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts\/2624\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/media?parent=2624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/categories?post=2624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/tags?post=2624"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/post_series?post=2624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}