Conference of the American Monetary Institute,
The historic 8th Annual AMI Monetary Reform Conference is now in the history books.
What was historic about it?
For starters, the deputy head of Research at the International Monetary Fund (IMF), presented his paper,
“The Chicago Plan Revisited.”
The Chicago Plan had been proposed to get the country out of the Great Depression. Believe it or not, with all the advances in computer technology and modeling programs, it was only 2 months ago that an important economist, Dr. Michael Kumhof of the IMF, put the old Chicago Plan proposal of the 1930s, to the test through computerized simulation. He found that the plan exceeded Irving Fisher’s best expectations. Dr. Kunhof’s presentation and a panel discussing it are of course in the video collection of the conference.
Folks, do see http://www.monetary.org/2012conferencevideos
for a description of the videos and how you get the whole conference for only $144.
One powerful conclusion of Dr. Kumhof’s study, is that the potential for inflation is much much smaller when money is created by the government instead of by the banks. This confirms Professor Yamaguchi’s study of the HR 2990, which concluded that it pays off the national debt as it comes due, provides the funding for infrastructure (thereby solving the unemployment problem) and does so without inflation.
People – this confirmation by the two different studies, is really dynamite!
Dr, Michael Clark of the UN gave a talk which you should all watch. He is the man responsible for the IMF creating 240 billion new SDRs a couple of years ago, though the IMF had only created 21 billion before that, since 1970. The Chinese took up $40 Billion of these new SDR’s, thereby exiting $40 billion of their large dollar positions, without causing any commotion in the $ exchange rates! The story of how that happened is fascinating, and exciting.
One of the most inspiring talks of the conference was given by Mrs. Elizabeth Kucinich, wife of Congressman Dennis Kucinich, on how to advocate for monetary reform. A real eye opener.
I could go on, but am awaiting reviews from some of the participants, which we will forward.
And now you can see it all on video: All 18 speakers – about 25 hours, sent to you loaded on one 300 GB external disc drive that plugs into any computers USB slot. The videos take up 100 GB, which leaves you an extra 200 GB storage space for whatever you want. Again see http://www.monetary.org/2012conferencevideos
Satisfaction is guaranteed or your payment is refunded.
Of Special Note: On the last day of the conference, after Stephen Zarlenga and 2 AMI researchers (Steven Walsh and Jamie Walton) gave two talks explaining the problems we see with the theories of Mitchell Innes and of what is called “Modern Monetary Theory (MMT),” Dr. Michael Hudson objected to our treatment of Innes and MMT. Much passionate discussion followed, by participants around the room – and its all on video! While the issue was not resolved in the discussion, what emerged was that Prof. Nic Tideman, offered to act as an ambassadorial intermediary between Hudson and Zarlenga and see how the questions that came up can be resolved accurately, since they are largely factual. Zarlenga and Hudson agreed to this process, and Hudson suggested that David Kelley also be an intermediary, and Zarlenga agreed. This ongoing process will be posted to the AMI Google list, and also be available to those who have signed in at the red arrows box on our homepage. Join the fun folks! I’m thinking this process can lead to real growth in understanding whats needed for monetary reform.