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Working for beneficial change – like Thomas Attwood

January 27, 2011



Positive Money, nef (the new economics foundation) and Professor Richard Werner (Director of Banking, Finance and Sustainable Development at Southampton University) have been invited to make a presentation to the Independent Banking Commission in early March, following their joint submission.  

The Commission referenced the submission – Towards a Twenty-First Century Banking and Monetary System – in their summary:
” However, some did view fractional reserve banking as a problem, and called for the Bank of England to be the only creator of money in the economy.”
This invitation will give Positive Money, nef & Professor Werner the chance to present the findings of our research into the inner workings of the British banking system directly to those who will be responsible for proposing reforms to Government.

Ben Dyson, Positive Money’s director, noted another step forward for the monetary reform movement when full reserve banking proponent Toby Baxendale was given “a decent amount of airtime” in the recent BBC documentary, “Britain’s Banks: Too Big to Save?”.

Future plans

* launching a sub-campaign presenting full reserve banking as the only feasible “Plan B” to the government spending cuts affecting so many people; 

* commenting on current events in several prominent news blogs in coming weeks and months; 

*refining and adding to the videos on the website; and 

*building partnerships with major advocacy groups and Unions.#


Readers new to this subject could visit the home page of the Positive Money website which opens with:

“Of all the ways of organising banking, the worst is the one we have today”- Mervyn King, Governor of the Bank of England

and asserts:

We can help solve problems like debt, poverty, economic chaos and environmental breakdown just by fixing the way that money and banking works.

What’s the Problem with Money?

There are two big issues that we need to fix when it comes to money:

1.      Who creates it, and
2.      How it gets into the economy . . .