News

September 2018 Release of our petition to have the Reserve Bank issue our money along with an opinion piece.

June Press release on the swiss referendum. Despite the campaign of confusion and fear run by opponents, 25% voted for the Sovereign Money Initiative.

April The AustralianRoyal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry is coming up with some serious wrongdoing by the banks and financial institutions

May 2017 Positive Money New Zealand issued a press release seeking clarity from the Reserve Bank on how our money is created. They still refer to intermediation by the banks, which is not how our banking system works.

5th November 2016 An article in The Guardian newspaper in England argued that abolishing debt-based currency holds the secret to getting our system off its addiction to growth.

5th September 2016 KPMG released a report, commissioned by the Prime Minister of Iceland, titled "Money Issuance" The report looked at money created by the Government.

28 March 2016 Bryan Gould agreed to be our Patron. Bryan is a respected commentator on economic matters, an author, academic and Companion of the New Zealand Order of Merit.

14 October 2015 The Finance Commission of the Dutch parliament discussed monetary reform.

22 November. The British parliament debated money creation last week, for the first time in 170 years. There was cross-party support for a proposal to set up a monetary commission

23 September. A new generation of young people, dubbed ''property orphans'' may be destined to be renters for life.

17 September. The Bank of International Settlements (BIS), the bank used by central banks, confirmed New Zealand houses are among the most "unaffordable" in the world compared to people's incomes.

25th April 2014 "Strip private banks of their power to create money": says the Financial Times' chief economics commentator Martin Wolf, who endorses Positive Money's proposals for reform

15th March 2014 - In a historic move The Bank of England quarterly bulletin explains how money is created. Whenever a bank makes a loan, it creates a deposit in the borrower's bank account, thereby creating new money. The bank says that this differs from the story found in some economics textbooks.

16th August 2013. The retiring head of the Financial Markets Authority apologised for the mistakes made saying "You were let down".

 

Henry Ford“It is well enough that people of the nation do not understand our banking and money system, for if they did, I believe there would be a revolution before tomorrow morning.”

Henry Ford, founder of the Ford Motor Company.

The National Debt

Marc Joseph

There is a daunting array of challenges facing humanity. From homelessness to health care to pollution and much more, we all look towards our elected governments to show leadership in resolving these issues. Unfortunately, the government seems increasingly unwilling to address our most pressing concerns. And the government's most frequent excuse for inaction is, you guessed it, we don’t have the money. So let's have a look.

We've all heard the government's litany: we don't have the resources,  we'll have to raise taxes, we have to pay down the debt, we don't want to go into deficit, we must be fiscally responsible, on and on. Money reformers know that these excuses are nonsense.

With the introduction of electronic banking, money cannot be shown to be anything other than numbers on a screen and it's impossible to have a shortage of numbers. However, these money numbers are recorded and produced in a private bank's database. They are produced by tapping a computer keyboard so it's not surprising how endless this source of money is. Just look at the money being injected into the housing market. Too bad it's also recorded as a debt owed to those private banks. They didn't earn it, but still.

Of course, the authority to create money comes from government. Since that's true, why is the goverment in debt? How absurd is it that a government gives away it's power to create money to private banks, then goes into debt to those banks, and then uses the debt excuse to abrogate its responsiblity to do what the people demand? And if more people understood the system they would demand action. Is there anyone who enjoys witnessing someone living on the street because of a housing shortage that is worsening by the day?

The government has no excuse. We are told we live in a democracy yet the government fails its most important obligation to the people: to regulate credit and currency in the best interests of the economic life of the nation. We must end private money creation. Tell your friends.

Change money, change the world!

 

 

 

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