All About the Money Part 2 - Solutions

http://www.positivemoney.org.uk
Discover the few simple changes to banking that would reduce debt, poverty and economic instability and that would ensure that the reckless behaviour of banks could never threaten the global economy again.

Join the campaign for real reforms to banking at
http://www.positivemoney.org.uk

Category:

Education

Tags:

• money
• money as debt
• banking reform
• positive money
• financial crisis
• debt
• poverty
• inequality

[CoreOfTheSpiral]

The government of each country should print their own debt free money. Nothing other than this is acceptable. The Bank of England is not a government entity it's a privately owned bank. You are misleading people here. It is also geographically in the independent sovereign state known as the City of London. So what you are talking about here is more of the same with a different set of clothes. You've lost a supporter here. This whole thing is a total fraud. 

[PositiveMoneyUK]

@CoreOfTheSpiral The BoE is wholly owned by the UK government. It isn’t private, unless your key source of information is unreferenced conspiracy theories.

The BoE Nominees is owned in whole by the BoE and one nominee shareholder, who is also an employee of the BoE. It holds shares on behalf of ‘Heads of State’ and the government. It has less that £1million in assets that it owns itself, the company itself doesn’t hold very much at all – it just holds securities in custody for other groups.

[PositiveMoneyUK]

@CoreOfTheSpiral In addition, the pover to create money would not be handed to the BoE as it currently exists. That’s not the case. That’s what the Bank of England Act is designed to address. This is dealt with in section 27. See "Our Proposals" on the website.

[bimbafly]

Ok, seignorage is an old story of injustice. But to my knowledge The Bank of England it's not quite a national bank. It's shareholders (the royal family and many undisclosed) make it a perfectly private bank as all others, lending money to the government. Additionally it owns a good 15% of the ECB (without using euro) sharing therefore its seignorage (profit from creating money).

My idea is of a fully national bank, owned by citizens, where the capital is the prefect translation of the nation re

[PositiveMoneyUK]

@bimbafly The BoE is wholly owned by the UK government. It isn’t private, unless your key source of information is unreferenced conspiracy theories.

The BoE Nominees is owned in whole by the BoE and one nominee shareholder, who is also an employee of the BoE. It holds shares on behalf of ‘Heads of State’ and the government. It has less that £1million in assets that it owns itself, the company itself doesn’t hold very much at all – it just holds securities in custody for other groups.

[GreatGungHolio]

Nationalise the whole banking system.

Credit is a public utility and should be run in the public interest, not for private profit.

[PositiveMoneyUK]

@GreatGungHolio

Why don’t we just nationalise our money supply, not our banks, and the government can create money debt-free? We propose to nationalise rather the "creation of money".

If we did not rely on banks to create our money supply then they would be an ordinary business. And it would not be of interest to us how responsible their lending is and who they lend to. They would be allowed to fail, go bancrupt just as any other ordinary business and we wouldn't have to worry.

[chipdietrich]

Brilliant video. I plan on buying a video and burning it with the OK of positive money. Distribute it through friends co workers and family. With any luck we will get more and more people involved in changing the current system. (real change not obama change). Well done to those involved !

[jptelthorst]

I agree fractional reserve banking is bad, and that people should have knowledge and choice is how their money is invested. However, allowing the government to print money causes inflation, and won't actually reduce the real amount of taxes, because all the money will be worth less, so the real value of your money will be reduced. Money SHOULDN'T be created, by anyone.

[123drive]

@PositiveMoneyUK This would seem to me to be an unreferenced reply...

I believe the individuals responsible should also be looked at and 'reformed', not just the faceless corps and buildings. Afterall, you wouldn't want those responsible behind the scenes to be psychopaths now would you?

[daniel987878]

If the CB creates new funds they should be evenly distributed across the population not just given to the government. You can hardly advocate for a monetary system that you say is non political which then just transfer new created funds to the government. If these new funds are instead evenly distributed to the public then you cant get more democratic than that. I agree with pretty much everything else in this proposal though.

[daniel987878]

@Wulfyn99 Sometimes the money supply needs to be adjusted to help the economy along. The key is how the new money is distributed when it is created. If it goes to a handful of banks it aint going to be in the public interest. If it is spread evenly across the citizenry then that is good.

[daniel987878]

@GreatGungHolio Nationalising everything would make the banking system unmanageable and incredibly bureaucratic. 

[daniel987878]

@reevolutionable Have a mandate folowed by the central bank to keep inflation within certain bounds and also target growth.

[daniel987878]

Investments fees for the current account should also be regulated by the central bank to avoid excessive charges. Also many private banks may waive these fees as an incentive to attract more customers who may also lend to the bank.

[reevolutionable]

"Who should decide how much money is created?"

how about making it completely non subjective and create an Algorithm to automate money creation? *comments please*