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Could the Bank of England create money to pay into the economy as a Basic Income?

basic income

In televised debates during the recent general election campaign, several politicians made reference to there being no “magic money tree”. When in fact, there sort of is. This, together with a survey in 2014 that showed that only one in ten MPs know where money comes from, exposes a huge education gap amongst our most powerful elected officials, on one of the most important aspects of our economy: money.

Vince RichardsonThe BoE prints the notes and coins which make up around 3% of all money we use.This is then ordered by the banks for customer withdrawals,the bank however has to pay face value for those notes/coins to the BoE.So the banks have to hand reserves over to the BoE and as such are not creating the money,...

22 hours ago

Johan-Paul SchutteIs it not true that the 3-5% Central Bank created money cannot come into circulation, unless exchanged for credit created by commercial Banks? If that is true then 100% of the creation of circulating money depends on money creation by commercial banks?...

2 days ago

NunoWe don't have a shortage of houses. What happens is that most people can't buy them because they have no money to do it. Therefore these people doesn't really constitute a demand for the existing houses.Now contemplate what would happen to your uncivilized tribe if most of the land had a few owners...

2 days ago
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David Frederick PrestonI wish I did Jim; nothing can change with the current Government in power & the uncertainty of Brexit hanging around us. If those experts had ever got one forecast in ten correct, or the Governing party actually told the truth about what they planned to do, then it may be possible to put togethe...

2 weeks ago

medialAxisI don't know the answer to your question but, AIUI private individuals don't hold reserve currency and yet QE (which is the 'printing' of reserves, AIUI,) benefits the 1%, yes? As T. May admits....

2 weeks ago

James MurrayGruffydd,I had to look up SDRs or XDRs as their acronyms seem to be.I understand they can only be used by a country and not an individual.I therefore cannot see how they will protect the wealth of the 1% specifically.Can you explain or send a link?Jim Murray...

2 weeks ago
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Our names in the paper

andrew tyrie

What an exciting few weeks for the Positive Money campaign! Rounding off this morning with this full-page splash in the local newspaper of the Chair of the influential Treasury Select Committee of MPs. Here’s our crowd-funded advert in the Chichester Observer last week:

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