We cannot rely on failed regulators to prevent banks from abusing the power to create money, reads the article by Ben Dyson in Open Democracy, 19th May 2014
In this episode of the Keiser Report, Max Keiser interviews Ben Dyson of Positive Money about what the economy and banking system would look like with positive money - in the second half, from 12:34 min:
Who should have the power to create money? In Modernising Money we argue that the power to create money should be removed from the banks and transferred to a democratic, transparent, and accountable body. Martin Wolf recently backed these proposals, but Ann Pettifor describes them as 'deeply flawed' and 'outlandish'.
Financial Times has published the letter by Ben Dyson, founder of Positive Money, in response to Philip Booth's Comment from April 29th. Philip Booth argues that Martin Wolf’s proposal to “strip banks of their power to create money” (Comment, April 25) would "put this power in the hands of the “greedy or profligate” governments who have been responsible for many of the great inflations of the past."