Positive Money: How about something truly radical?

Jay Owen Reforming Global Finance


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“How about something truly radical – the complete dismemberment of the banking system as we know it and its replacement with what is known as 100pc reserve banking?” – this was a subheading of a recent article in the Telegraph.

Just two years ago, there was almost no media coverage of the creation of money by banks. There is so much more media attention today! Recently, also the Guardian featured a few short videos with Ben Dyson and Prof Richard Werner talking openly about the way how money is created and how it can be changed, and Ben was featured in a recent Guardian article about people campaigning to fix the banking system. You can contribute to the raising media coverage too – please read below.

1) In the media

It’s great to see the media openly writing about ‘where money comes from’ more and more today. And it’s great they are finally discovering reform proposals which aim to change the way how money is created.


In his article entitled “The banking revolution that would wipe out Britain’s debts”, Jeremy Warner writes about 100% reserve banking – a variation of monetary reform proposal similar to Positive Money proposals.

He explains how new money is created and what limits the process of money creation: 
“The only limits on this process of money creation are the banker’s instinctive fear of making a bad loan…”

Read here


Four short videos from the Transforming Finance conference were published in the Guardian:

What would a democratic financial system look like? (video)

Banking for the real economy (2 videos)

Guardian: Transforming finance – how do we fund the green economy? (video)


Making banks and financial firms better: Five people on the frontline

Guardian has asked five people who are all trying to make the financial system fairer and easier for us all to understand about their efforts. One of them was Ben Dyson, founder of Positive Money.

Read here

Money – The unauthorized biography

“Crucially, it is not just governments that create money – others can, too. …more significant by far is the money created by private banks.”

Read here


2) Transforming Finance conference

The Transforming Finance conference which took place on 10th May in London, brought together leading academics, finance  professionals and campaigners to discuss how to make finance work in the long term  interests of people and planet. 

Ben Dyson was invited to present fresh thinking on debt and recovery.
Watch the short video here.

Videos of each of  the speaker presentations are available at the Transforming Finance website.

Here you can read an overview of the issues and topics discussed.

3) Local Newspapers – please help to raise awareness

There is much more media attention to the issue of money creation by the banks in the media today than it was just two years ago. But still it’s not that easy to get a coverage about this issue in the mainstream media. The chances in local media, however, are much higher. One important fact is also that MPs monitor local newspapers on a regular basis.  So let’s get the message out there that we need to reform of the monetary system in order to be able to deal with the current recession, the debt burden etc. Please write to your local newspapers and get this issue talked about in the local press. Feel free to use the texts from our website and to direct readers to our website when possible too.

4) Upcoming Events

London, Mon 17 June – Reading ‘Modernising Money’

Sheffield, Wed 19 June – Screening of 97% Owned

Chicago, USA, 19-22 Sept – 9th Annual AMI Monetary Reform Conference

The speakers are the main people on the front lines of monetary reform around the world. Here is the superstar line-up: Prof Joseph Huber, Dr. Michael Kumhof of the IMF, Prof. Kaoru Yamaguchi, Prof. Richard Werner, Prof. Nic Tideman, Prof. Steve Keen and others

  • Register until 21st June to get Early bird tickets


5) More from the Blog

Argentinean Debt Crisis 2000-2003

The way money is created is at the root of the environmental and economic crisis

Common concerns about ‘QE for jobs’

George Osborne’s Help to Buy scheme ‘a moronic policy’

Real Money instead of Empty Promises

Author of The Debt Generation on Modernising Money

How the Canadian government used to borrow from its own central bank

Guardian: Britain’s banking system is not a national asset. It’s a curse

Would Positive Money system be inflationary?

Plea for a different approach to yet more debt

Two main problems with deposit insurance

Material Debt

How failed banks on life support can grant humungous bonuses

Declaring all digital money to be legal tender


Best wishes,

Ben, Drew, Fran, Henry, Miriam & Mira


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