Money has two functions. It is a means of exchange and a means to store wealth. Its principal function is as a means of exchange.

It is easy to see that in a ′recession′ there are no less resources available, no less raw materials to buy, or labour to carry out services - only a lack of money to enable those activities to go on. Similarly, a ′boom′ happens when people feel they have more money to spend. That money is often illusory because it is in the form of debt. Credit has become easier because the banks have lowered the interest rate and made it easier to borrow.

Boom and Bust are both controlled by the amount of money in the system, which is controlled by the banks.

The conference will investigate ways of creating a fair and honest currency. There are some ideas in the pipeline, but it will need a number of heads to come up with a workable answer.