Monday, November 14, 2011

Monetary reform and alternatives - join the Lawful Bank movement

The Lawful Bank is an application of the concept of "worker-owned businesses" to the financial world.

Worker-owned businesses are the wave of the future, because by eliminating parasites from the business process (the "passive owners"), businesses can operate at lower costs. Operating at a lower cost is the bottom line in the survival of the fittest economic world, and thus, over time, worker-owned businesses will outperform and eliminate the parasitic passive-investor businesses. In their own words:

"By signing up to The lawful Bank you will (in due course) avail yourself of the benefits of membership of this unique monetary and banking system, the essence of which is to distribute to the people the grotesque profits being skimmed by greedy bankers from the nation’s economy. "

"There are no investors to satisfy and no high flying executives on million pound/dollar salaries or city slickers on astronomical bonuses. Our system plays no part in casino banking. TAMS is both safe and cost effective and serves the interest of the sovereign aspirations of individuals."

"TAMS is a mirror image of the existing monetary system – it is tried and tested... but with a crucial difference in that there is an entirely different approach as to where the profits are delivered. In the existing system, the profits go to investors, and the people running the bank - with our system the profits are distributed to our members."

One of the fascinating innovations of the Lawful Bank is the way it leverages the power of fractional reserve banking for the INDIVIDUAL:

"A positive credit system – for every £1 of cash deposited, each member creates £10 credit in their account. This credit (created by the system) on the back of the cash deposited is the property of the member and thus not a debt to the member. This will provided streams of credit to the system – and not debt."

Check out the Lawful Bank webpage at

1 comment:

Glasiad ap Gruffydd said...

Interesting idea but how does this differ from already existant credit unions?