The New Economics Foundation (NEF) is a British ‘think tank’, which promotes economic and ecological justice. NEF has been the UK’s leading research organisation for money, credit and complementary currencies since 1986. www.neweconomics.org

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States have had varying degrees of influence in different times and places over how banks create money. In some periods, money creation and the denomination of coins was left completely to the commercial banks. In such times when individual banks had the power to issue their own banknotes one speaks of “Free Banking”. The market […]

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