Our Mission

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Making money work for society

Our Mission

Positive Money campaigns for a fair, democratic and sustainable money system.

Positive Money has identified the following problems with the current money system:

  1. Asset price bubbles: The almost limitless creation of money by banks for unproductive purposes can lead to asset price bubbles. Asset price bubbles have three major effects on the economy:
    • They increase the levels of private debt relative to incomes in the economy: Asset price bubbles in necessities, such as housing, either push the price of these assets out of the reach of the majority, or force individuals to take on excessive amounts of debt in order to purchase the assets. An increase in debt, without an increasing income, lowers individuals’ disposable income.
    • They increase inequality:  Inflation in asset prices leads to an upwards transfer of wealth as assets tend to be highly unequally distributed. Further, the fact that most money is created as debt creates an upwards transfer of wealth due to interest payments on the debt. Taken together, an increase in borrowing for asset purchases means an increase in interest payments – leading to large dividend payments for bank shareholders and larger wages for bank staff.
    • They increase the likelihood of recessions and financial crises: Money creation is pro-cyclical – too much is created in a boom, and too little in a recession, causing the boom-bust cycle. However, money creation for unproductive purposes can also lead to asset price bubbles, which themselves can lead to financial crises.
  2. It leads to bank runs, bailouts, and subsidies: Financial crises inevitably end in bank runs and/or bailouts, increasing the cost of a financial crisis to the taxpayer. In order to prevent bank runs, governments provide deposit insurance to their citizens. This creates a subsidy to the banking sector, and can create moral hazard amongst bankers. It also creates moral hazard amongst depositors, who no longer need to monitor bank’s activities to ensure that the bank is acting in their best interests. Aware of this, banks are able to pursue higher risk strategies, at the expense of the taxpayer.
  3. It’s bad value for UK citizens: The current system requires taxes to be higher and/or government spending on services to be lower than it otherwise could be. Bank bailouts divert funds that could be used elsewhere to propping up the banking system. Likewise, by giving up the power to create money to the banks, the government gives up a source of revenue and therefore must either lower spending, increase borrowing or raise taxes.
  4. It is undemocratic: Banks decide where in the economy they lend to, depositors have no say over how the money that they lend to their bank is used. Furthermore, there was never any democratic decision to give banks the power to create money. Banks have no legal obligation to use this massive power in the interests of society as a whole, and we have no way of holding them accountable when they use it badly.
  5. It harms the environment: As depositors do not get to decide how their money is used, environmentalists could find themselves inadvertently funding activities that may be harming the environment. There is also evidence to suggest that the current monetary system is incompatible with a steady state economy.

Positive Money is supportive of ideas and policies which move towards our end goal. However, we do believe that our end goal can only be reached when the following three things have been achieved:

  1. Prevent the private creation of money or money substitutes.
  2. Transfer the power to create money from the banking sector to a democratic, transparent and accountable process working in the public interest.
  3. Ensure that new money can either be spent into the economy free of corresponding debt. Alternatively, if required, newly created money could be lent in, for on-lending into the productive sector.

Positive Money is not:

  1. Positive Money does not act on the behalf of any particular lobby or interest group.
  2. Positive Money is not a political organisation.  We don’t campaign for either a bigger or a smaller role for government.  We campaign for changes to the money system which would benefit the economy as a whole, and which is therefore compatible with the aims of all political parties.
  3. Positive Money is not against privately owned banks.  Privately-owned banks have an important function in providing payment services, a secure place for our money, investment opportunities, and to make loans.
  4. Positive Money is not against bankers.  Most people who work in banks do not understand the money system and its effects, and are simply trying to provide a service for customers and earn a living.  Undoubtedly some bankers have abused their power, but this is not the root cause of our financial crisis; the root cause is our current money system.
  5. Positive Money is not against lending, or charging interest on loans where an investor is lending their money to somebody else.
  6. Positive Money does not believe that regulation alone can solve the problems with banking or the money system. Regulation has been shown to be ineffective, and easily reversed, but furthermore it does not alter the root causes of the problem.  What is needed is legislative change.
  7. Positive Money is not a campaign for general financial reform, alternative economics or complementary currencies. While there are many other reforms that also need to take place, Positive Money has a specific and narrow purpose – to change the national money system in order to create a fairer and more stable economy.
  8. Positive Money does not support the use of illegal or violent means to bring about change.  We campaign for the money system to be changed with minimal social and economic upheaval.


Stay in touch

  • Larry

    cant sign? everytime I do it page goes out??

  • Wackfuc

    What’s the proposal then? I can’t find anywhere it’s is recommended what we should be doing? Positive money seems to be proposing a full reserve system of banking. Is this true?

    • the1beard

      They don’t have a fix .

    • charles3000

      It is 100% reserve or, if you wish, the old Chicago Plan from the 30s. The detailed view can be found at http://www.realmoneyecon.org.

  • Andre de Villiers

    The only real money is precious metals – gold and silver :-)

  • http://www.ukcolumn.org Justin Walker

    My friends, a half solution is not a solution – a half truth is quite definitely not the truth!

    To all supporters of Positive Money, please be aware that 2016 will see the beginning of a major new push in Great Britain to bring back and restore a sovereign monetary system that is based entirely on the provable truth, historical precedent and simple common sense. This push will completely transform the current debate about money creation and money supply in quite an extraordinary and remarkable way. And it will also spell the end of the global financial and monetary system as we know it, not to mention the debt-creating power and control presently enjoyed by the City of London and their corporate and financial backers….the so-called ‘one-per-cent’!

    Once this sovereign monetary system has been restored, the problems of austerity, the deficit and the national debt will disappear forever leaving the British people prosperous and free from the clutches of the criminal debt-creating bankers and financiers. How? How can all this be achieved? Answer, by simply waking people up to the real and completely provable truth about money creation, the appalling machinations of the central banking system and the historical and extremely successful precedent that was initiated at the outbreak of the First World War.

    Unfortunately, the leading proponents of Positive Money, for whatever reason, have chosen to both completely ignore the organisational set-up and over-riding influence of the central banking system and the ridiculously simple historical precedent which, if brought back today, would transform everyone’s lives for the good. I find this, I have to say, both very sad and very frustrating!

    Now, if you haven’t already done so, please have a good look at Positive Money’s official and extensive website. Do you see any mention of the Bank for International Settlements (BIS)? I’ve looked long and hard and can’t find anything of any meaningful substance. I am completely baffled by this!

    So what is this Bank for International Settlements, I hear you ask? Well, it’s a secretive, very little known and unaccountable privately controlled (by the well established banking dynasties) central bank which enjoys diplomatic immunity and which controls sixty of the world’s central banks (including the Bank of England, the Federal Reserve and the European Central Bank) and which oversees 95% of the world’s GDP and money supply! Not bad for an organisation that hardly anyone in the street has ever heard of – and that includes, I am afraid to say, some, if not many of our elected representatives in the Palace of Westminster!

    Currently, Positive Money advocates the setting up of some sort of central Monetary Policy Committee (that strangely won’t include any of our democratically elected and accountable representatives in Parliament) which will decide on how much money the Bank of England (not HM Treasury) creates for the British economy. That’s right, the British central bank that provably takes its orders directly from the major banking families through the privately controlled Bank for International Settlements, will, if Positive Money succeeds with its campaigning and lobbying, create our money!

    If you don’t believe that I am correct about the Bank for International Settlements, please see what the late and much respected historian Professor Carroll Quigley, mentor to President Bill Clinton and a former trusted ‘insider’ friend to the financial elite, had to say about this shadowy organisation in his 1964 book ‘Tragedy and Hope’:

    “The powers of financial capitalism had another far reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements, arrived at in frequent private meetings and conferences. The apex of the system was the Bank for International Settlements in Basle, Switzerland; a private bank owned and controlled by the world’s central banks which were themselves private corporations. The growth of financial capitalism made possible a centralization of world economic control and use of this power for the direct benefit of financiers and the indirect injury of all other economic groups.”

    But if you are now thinking that the Governor of the Bank of England, Mark Carney, is all powerful when he attends these secretive meetings at the BIS, think again! Professor Carroll Quigley goes on to say:

    “It must not be felt that these heads of the world’s chief central banks were themselves substantive powers in world finance. They were not. Rather, they were the technicians and agents of the dominant investment bankers of their own countries, who had raised them up and were perfectly capable of throwing them down. The substantive financial powers of the world were in the hands of these investment bankers (also called ‘international’ or ‘merchants’ bankers) who renamed largely behind the scenes in their own unincorporated banks. These formed a system of international cooperation and national dominance which was more private, more powerful, and more secret than that of their agents in the central banks…”

    When you hear such compelling evidence as this, it’s not hard to see what’s really going on – that the central banking system is privately controlled and is all powerful when it comes to the creation and control of nearly all of the world’s money supply as debt. So, it must be asked, why do the good people at Positive Money, who have done such an excellent job of exposing how the private bankers create money completely out of thin air as debt, seemingly decline to research and highlight the power and the strength of the BIS (which sees itself as the central bank for all the central banks), not to mention the dynastic banking families who, ultimately, control this secretive and unaccountable organisation as well as the whole central banking system?

    And now we come to that historical precedent which the leadership of Positive Money has also failed to research, even though they have been alerted to it on numerous occasions.

    In August 1914, at the outbreak of World War One, the Bank of England and the private bankers feared an immediate run on the banks as the uncertainty of war persuaded people to withdraw their gold. The solution was incredibly simple and effective! In a matter of four days, Parliament passed an Act authorising HM Treasury to print debt-free and interest-free paper money which was based entirely on Britain’s wealth and potential. Called Bradbury Pounds (as the signature on them was that of Sir John Bradbury, First Secretary to the Treasury) they were immediately accepted by the British people and so avoided emptying the gold vaults just as Britain was mobilising for war. The full story can be found here: https://www.ukcolumn.org/sites….

    As with President Lincoln’s debt-free and interest-free US Treasury Greenback Dollars and the Colonial Scrip of the American Colonies, the Bradbury Pound worked brilliantly and there was no talk at all of inflation. So we really must ask why does Positive Money not look at this simple and effective precedent of HM Treasury (not the Bank of England) issuing sovereign debt-free and interest-free money that is based entirely on our nation’s wealth and potential in order to provide the liquidity needed to create a prosperous and successful economy whilst meeting the needs of the NHS and our other essential services?

    If you are a supporter of Positive Money, please do something to ensure that this campaigning organisation, that has done so much to raise the profile of how money is created, now goes where the provable truth and actual historical precedents are. This free e-book will help you with your further research http://www.thebcgroup.co.uk/Wh

    For those of us who do know what is going on (and we have some senior ‘insider’ contacts within the City of London who keep us informed), we really hope that the decent people who make up Positive Money will now go where the completely provable truth is and do the following:

    1. Highlight and condemn the criminal central banking system, especially the secrecy and deception being practised by the Bank for International Settlements.

    2. Call for an immediate and formal end to the relationship between the Bank of England and the Bank for International Settlements.

    3. Campaign for the immediate restoration of the Treasury-issued Bradbury Pound in order to provide the debt-free and interest-free liquidity needed for the essential services, strategic industries, vital infrastructure and overall well-being of the British people.

    On the 18th November 2013 Jeremy Corbyn and John McDonnell both signed Early Day Motion 748 which called for the restoration of the Bradbury Pound in its centenary year http://www.parliament.uk/edm/2… and a meeting with John McDonnell is being planned for some time early in 2016. The tide is definitely turning and people are starting to wake up to the truth about money creation and money supply.

    Finally, thank you all for taking the trouble to read this. Regrettably, a huge and planned international financial collapse would appear now to be very likely at some point in 2016, especially as the ridiculous and contrived derivatives debt bubble now amounts to well over 550 trillion US dollars (some commentators say that it has now reached more than one quadrillion dollars!). It would be fantastic if Positive Money could now, with a sense of urgency, join us in our new grassroots campaign network to bring back and restore the Treasury-issued debt-free Bradbury Pound. Surely it is now the time for all of us to come together with the provable truth – the truth that will bring down the central banking system and stop humanity from being debt slaves to the criminal and controlling elite within the City of London and the Bank for International Settlements. Time is not on our side so please take action quickly to get things moving!

    Justin Walker – Bring Back the Bradbury Pound Campaign Coordinator.
    British Constitution Group and the UK Column

  • Alan Forster

    Cash money or digital currency………”digital cash”. im sorry what ?
    A cashless society is all digital, ? yes. ?
    What the financial systems need most is simplification and
    rationalisation not more high end back office complexity.
    No one cares which bank or account type the “money is in”,
    IT JUST needs to be there and have workable value to the population.
    The UK needs to do what Iceland did and clear out the crooks and their
    cheating methods (complexity being one).
    All of these sticking plaster economic tweeks are just making more mess.
    How about a Unconditional Basic Income (UBI) and a flat tax rate on income ?
    it so simple a child can understand it, and it would mean everyone can SPEND to meet their needs.

  • Howard

    The forum does not have a proposal but there is a proposal that conforms totally with the mission that has been through the rigorous legislative legal review and is a bill presented to Congress in 2011 by Kucinich, currently without a sponsor. HR2990 The NEED Act which contains the 3 essential reforms required to establish and transition to a Sovereign Money system. Full reserve banking, ending fractional reserve banking, is only one of the 3 essential reforms, creating US money and spending it debt-free into the economy is another and creating a monetary authority within treasury to monitor inflation/deflation is the third.
    While the forum is not a political organization it should be understood that this issue has been the primary political issue since 10 centuries before Christ when the
    Greek demos struggled for control of self-governance with their oligarchy….which should sound familiar. It is the revolution that has never been won. It is what the American Revolution was all about, sovereign money funded the revolution, and while won militarily was betrayed by our own elite who handed the money creation power over the richest banker in New York at the time, Robert Morris, who in Trump like fashion, put his name prominently on the nation’s money.
    I think it is way past time we got past our petty differences, ignore the media manufactured divides of opinion and come together to win a real democracy for the first time in history.
    “The person who says it cannot be done should not interrupt the person doing it.” –Chinese Proverb

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