Forum for Stable Currencies
Forum for Stable Currencies is a political advocacy group in the United Kingdom seeking economic democracy through freedom from national debt. Founded in 1998, the group is a non-governmental organization without governmental funding. In 2003, New Statesman reported that the forum was "attracting leading figures from the world of small business and across the political spectrum." 2006's Market, Schmarket: Building the Post-capitalist Economy refers to the efforts of the Forum to "democratize the process of money creation" as "sterling work."
History
In 1998, Merlin Hanbury-Tracy, 7th Baron Sudeley, motivated by his opposition to usury, and Sabine K McNeill, a mathematician and system analyst, created the Forum for Stable Currencies at the House of Lords. It was the outcome of contacts with the Christian Council for Monetary Justice and organising the Campaign for Interest-Free Money through weekly meetings at the Global Cafe near Piccadilly, London. McNeill had started the First Local Exchange Trading System in London in 1989 and organised Forum meetings mainly at the House of Lords, but also at the House of Commons under the auspices of Austin Mitchell MP. There, on behalf of the Forum, Austin Mitchell MP tabled eight of nine Early Day Motions relating to public credit. The first submission to the Treasury Select Committee was entitled "Green Credit for Green Purposes".
The Forum has hosted notable speakers, including Joseph Huber who on June, 2001 Delivered a speech before the Forum at the House of Lords detailing the advantages of economic reform, and Nobel Peace Prize winner Muhammad Yunus who in February 2008 spoke at St. James's Church, London Piccadilly. Other speakers have included James Gibb Stuart, Bernard Lietaer, Michael Rowbotham, and Stephen Zarlenga.
Among issues of concern to the Forum is the "skimming", or overcharging of fees, by banks, which Corporate Watch cites the Forum as estimating to be the cause of 50% of bankruptcies in the UK. The most recent political initiative of the Forum is an on-line petition drive titled Stop the Cash Crumble to Equalize the Credit Crunch.
See also
- First Report on the Public Credit.
- Monetary reform