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How to make the bank say ‘yes’


The Federation of Small Businesses (FSB) and the British Bankers’ Association have identified five steps you can take to ensure your business loan application has the greatest chance for success. 1. Develop a robust business plan – Your business plan is crucial to demonstrate the businesses financials, showing that you can repay a loan.Your plan should demonstrate you have done your homework, researched your market and competitors as well as identified clear routes to market and highlighted when you expect […]

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The German way of 1923


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I chanced this morning on the superb collection of essays from Ludwig von Mises, The Causes of the Economic Crisis and Other Essays Before and After the Great Depression (PDF). In his Stabilization of the Monetary Unit—From the Viewpoint of Theory written in 1923, he showed considerable foresight: Only the hopelessly confirmed statist can cherish the hope that a money, continually declining in value, may be maintained in use as money over the long run. That the German mark is […]

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The injustice of easy money is going mainstream


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The Daily Mail reports Interest rates: How keeping them at a record low is a deliberate government ploy to pay off its debts: A stealth raid by the Bank of England has stripped savers of more than £170billion, a Money Mail investigation can reveal. By slashing the base rate to a record low of 0.5?per cent and allowing the cost of living to soar for more than four years, the Bank has whittled away the value of cash sitting in High […]

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Bank reform demands monetary reform – an essay for Banking 2020


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Today sees the return of the Financial Services (Banking Reform) Bill to Parliament. It does not do enough. In the book Banking 2020: A vision for the future, my essay summarises the institutional problems with our monetary and banking orthodoxy: The features of today’s banking system As Governor of the Bank of England Sir Mervyn King told us in 2010: ‘Of all the many ways of organising banking, the worst is the one we have today.’ Notes and coins are irredeemable: the promise […]

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The banking reform Bill will be a missed opportunity if it does not support community banking


The second reading of the Financial Services (Banking Reform) Bill is today. This is the main debate on the principle of the Bill. It was previously provisionally scheduled for last Monday. I have found myself assigned to statutory instrument committees on both occasions, potentially preventing me from speaking in the debate. I was notified of today’s duty late on Friday, too late to find a substitute. Of course I am disappointed this means I probably won’t be able to make […]

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