Democratise Money Creation

Democratize Money Creation

People, governments and businesses need money to ensure we can live in a democratic, fair & decent society powered by a stable, sustainable & thriving economy.  John McDonnell’s ‘new economics’ conferences have inspired many to learn more about our MONEY SYSTEM.


The money we use today is in the form of CASH (notes & coins) and ELECTRONIC MONEY (bank deposits).

The Cash which we can touch, is publicly created under the direction of the Government (via the Bank of England).  Only 3% of our entire money supply is in this form.

Over 97% of all the money in the economy is created by PRIVATE BANKS.  Banks can create money through the accounting they use when they make loans.

This is explained by POSITIVE MONEY– a movement campaigning for a fair, democratic and sustainable money system.

Positive Money – Consequences of Private Banks Creating Money – also explains the issues we face with the lack of democratization of money creation.

Calling for a Money Commission: Our money and banking system is failing to meet the needs of society. It has left us with unaffordable housing, worsening inequality and banks that are subsidised and underwritten by taxpayers’ money.  A public inquiry is essential if we are going to examine the root cause of our financial system.  The UK government should set up a parliamentary investigation into the impact that money creation by commercial banks has on society.

Making Money from Making Money:  Who has control over the supply of new money and what benefits does it bring?There is now widespread acceptance that in modern economies, commercial banks, rather than the central bank or state, create the majority of the money supply.

Mary Mellor’s  Economics course – Understanding money, the route to economic democracy and a sustainable planet, is now available to watch online. Mary Mellor is author of ‘The future of money’ and emeritus professor at Northumbria University. She has worked in this area for over 20 years and published widely.

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