Poverty, Debt and Inequality

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Fran GriffithsAccording to The Encyclopedia of Money, the Promissory Note Act made such notes fully negotiable ie transferable if endorsed by the signature of the payee. Up till then the banks could refuse to honour them if presented by anyone other than the payee.The Bof E, and PM, describe the situation regard...

December 2014

montmorencyI would also question that bit about interest rates, although those are the words of the BoE, not PJM or PM. What I am getting at is the true role of interest rates. Richard Werner writes very interestingly on this, among many other things of course....

December 2014

PJMThanks, Damian. I've been searching on the Internet for a copy of the actual text of the Promissory Notes Act 1704, so far without success. Does anybody know how to access UK law statutes on-line? In New Zealand, where I live, all statutes are freely available for download. As far as I'm aware, ther...

December 2014
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How the current process of money creation is causing a rise in poverty, instability and inequality (Video)

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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.

RJMaybe re fear. Although I think many in Govt just don't understandBut now Govt debt increases is becoming critically important. The question that should be asked is1 Can a monetary sovereign Govt like the UK spend what they want in excess of any tax take. The answer is yes.2 Should they. The answer ...

October 2014

Fran GriffithsPerhaps the new financial education requirement in schools will lead in time (probably a long time) :) to a more economically literate population ànd then we can have a more open discussion about what we can ànd cannot afford....

October 2014

Fran Griffithsin the background when economists ànd politicians talk about the importance of a balanced budget and the dangers of printing money.However this account misses out one important feature of this ànd other hyperinflations. Germany was paying two thirds of its production in war reparations. The money ...

October 2014
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9 Benefits of Switching to a Sovereign Money system

benefits SM

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).

Why we don’t campaign against interest

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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.

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