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Death by Debt

Given that the debt crisis has caused a near doubling of suicide rates in Greece and resulted in tens of millions more people below the poverty line, perhaps we should have a better understanding about debt and why there is so much of it. As a child I was one of those annoying kids who wouldn’t stop asking questions.  This has pretty much continued and one question that has puzzled me particularly is “who is all this debt we hear about actually owed to?” 

MarcImagine a country say the UK, suddenly decides to adopt the policy of creating its own debt free money. All those foreign governments, hedge funds and other major financial institutions holding UK currency (giving it value), will immediately dump it onto the market. With our currency now worthless, ...

September 2012

PJMRichard has written a very good article. However, I believe he should have drawn readers' attention to a paper titled "The Chicago Plan Revisited", published earlier this month on the website of the International Monetary Fund (IMF), and referred to on the Positive Money website. The US documentary ...

August 2012

DozyHoleGreat article.Student loans seems to be the next bubble which will sustain us for the next few years before the creditors realise they will not be getting their money back and need another bailout.Watching 'Born Bankrupt' on sky news, no mention of the link between money and debt, no question of who...

August 2012
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dazza4418 The problem with positivemoney's proposal is that your removing the markets control of the economy and handing it to the Government in a totalitarian government knows best communist way without the safeguards to stop Government manipulation of the value of the currency. The Government needs cash j...

March 2012

Peter VerityWe have also had misconceptions about gold/silver in our discussions and public talks in Sheffield, and it has also been on the PM blog.Maybe it's a good sign that people are beginning to recognize the shortcomings of debt-based money, but the knee-jerk reaction is to assume that the only possible r...

January 2012
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TiggerBetter still, why don't you just explain clearly how banks actually work?You completely fail to do that in this article.Duh!...

December 2011

Graham HodgsonWhat's to get passionate about? Promises are cheap. They cost nothing to make and may not cost anything to keep. Yet banks charge interest on the promises they make regardless of the cost to them of making and keeping those promises. Agency fees to cover administration costs are one thing as is inte...

November 2011

Graham HodgsonWhat broke the conceptual log jam for me was to stop thinking about money - what it was, how it worked - and start thinking about payment instead - its role as a social ritual which terminates any continuing obligation on the part of a recipient of value (goods and services) towards the provider of ...

November 2011
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T.H.I.K.The Aztecs had the, at the time, most advanced civilization of the American continent, with a national system of defense, education, health care, infrastructure, etc. Still, they had no money, as we know it. Just saying....

May 2013

SilverSmithDo explain to me why the house asset will "appreciate to many multiples of its present value"....and the mortgage payers do not create the money, the lender creates the money (albeit at the payer's request) and the payer borrows it....

May 2013

Mr M DawsonWhen we talk of the banks creating money we ignore the mortgage payers who are creating money they don't have to pay for their house on a promise to pay in the future. In doing this they are getting possession of an asset which will appreciate to many multiples of it's present value.One solution mig...

January 2012
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