The Department for Communities and Local Government recently released its Housing Survey for England*. The report ultimately confirms what Positive Money has been putting forward for many years, that the housing bubble continues to be a massive driver of inequality and that more and more people are being ‘priced out’ of the housing market. Certain statistics show that this is not only due to a shortage of housing, implying it is also due to the banking sector’s ability to create money out of thin air.
How the current process of money creation is causing a rise in poverty, instability and inequality (Video)
Ben Dyson, founder of Positive Money presenting at Meaning Conference 2014 on 18th November in Brighton. He got into the nitty gritty of how the current process for money creation is causing a rise in poverty, instability and inequality. And challenged the audience to imagine what a modern and sustainable system could look like.
Monetary policy is one of the most important aspects of our world. It is also among the most misunderstood, reads the article in The Week, 17th October 2014, entitled How to get America to full employment — and fast
The power to create money, in the hands of commercial banks, has been highlighted as one of the root causes of both the Great Depression of the 1930s and the financial crisis of 2007-2009. Lord (Adair) Turner, the former chairman of the UK’s Financial Services Authority, has argued that: “The financial crisis of 2007/08 occurred because we failed to constrain the private financial system’s creation of private credit and money” (2012).
A number of writers on monetary reform have argued for the banning of charging of interest. They see the use of interest as a major contributor to inequality and destruction of the environment. It's well worth reading some of these arguments, such as those of Margit Kennedy - Interest and Inflation Free Money or Money & Sustainability: The Missing Link by Bernard Lietaer, and there's further research to be done there.