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, the 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."
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 Internet 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 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, Margrit Kennedy, 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. A recent political initiative of the Forum are two on-line petitions targeted at the Treasury Select Committee titled Stop the Cash Crumble to Equalize the Credit Crunch and Financial Fairness for Voters and Taxpayers, please! The corresponding article Public Cash for the Real Economy, The ultimate request, by on-line petition was published by the Journal Accountancy Business and the Public Interest.[original research?]
- HC Paper 355 House of Commons Committee of Public Accounts: Reaching an International Agreement on Climate Change. The Stationery Office. 2008. p. 129. ISBN 0-215-52156-0.
As a non-funded NGO, the Forum for Stable Currencies....
- Boyle, David (2003-03-04). "The strange rebirth of a forgotten idea". New Statesman. Retrieved 2009-02-25.
- Cato, Molly Scott (2006). Market, Schmarket: Building the Post-capitalist Economy. New Clarion Press. p. 195.
- McFall, John; House of Commons - Treasury Committee (2008). Climate Change and the Stern Review: The Implications for Treasury Policy, Fourth Report of Session 2007-08, Report, Together with Formal Minutes, Oral and Written Evidence. The Stationery Office. p. 88. ISBN 0-215-51341-X.
- Legum, Margaret (2003). It Doesn't Have to be Like this: Global Economics : a New Way Forward (revised ed.). Wild Goose Publications. p. 107. ISBN 1-901557-76-6.
The advantages of such reform were given in a paper by Joseph Huber to the Forum for Stable Currencies at the House of Lords in London in June 2001
- "Ten years, ten corporations: the corporate crime awards". Originally published in Newsletter 33. Corporate Watch. Retrieved 2009-02-26.
- Accountancy Business and the Public Interest, Vol. 8, No.1. 2009