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Call for an independent Money Commission

December 29, 2015

“The time has come to ask if the current mechanism for money creation is best serving society’s interests”

 

Thomas Attwood would have been greatly interested in the news from Dora Meade (Positive Money), who writes on behalf of the Positive Money team:

 

dora meadeEconomists are predicting another financial crisis. Increasing inequality, out-of-reach house prices, and soaring private debt tells us our financial system is not meeting the needs of everyday people and businesses.

At Positive Money we think things could be different. We believe that a public inquiry is needed to expose the impact that money creation has on society, prompting an examination of the root cause of our unstable financial system. We are taking an important next step for our campaign. We have initiated a petition calling on the UK government to set up an independent Money Commission.

 

adrian byrneAdrian Byrne, coordinator of Manchester Positive Money, says:

“The time has come to ask if the current mechanism for money creation is best serving society’s interests – or could we do better? The problems of the financial system relates to the ability of banks to create money in the form of deposits through issuing loans – and this problem has not been addressed.

“We are seeking a parliamentary investigation into the impact that money creation, when it is left in the hands of profit-seeking banks, has on society. We want the commission to consider alternatives, including our proposal for Sovereign Money Creation”.

 

Similar initiatives are taking place across the world:

  • In Iceland, eleven members of Parliament are calling for establishment of a money commission.
  • In the Netherlands, over 100,000 people have signed a petition, which has been submitted to their Parliament.
  • In Switzerland enough signatures have been collected to bring about a referendum on money creation.

Please show your support for this money commission and let politicians know that this issue is of vital importance to the public by joining Positive Money supporters across the country and the world and by signing the petition for a Money Commission.

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