1) We’re finally in the mainstream press…
First, an article appeared in The Economist making a few statements that could have been lifted from the Positive Money website, particularly with regards to the negligence of the authorities in allowing a massive explosion in money supply, which feed into house prices but not consumer prices, allowing the Bank of England and other central banks to claim that they had successfully managed the economy.
The Guardian article triggered a response from Daily Telegraph blogger Tim Worstall, on his personal blog, where he charmingly dismissed us as ‘loons’ (we’ve been called worse!). He put forward the simple argument that “Banks obviously can’t create money, if they did then Northern Rock would not have gone bust…” It’s a common question, so we answered with an explanation below of why it’s entirely possible for banks to be able to create money and still run out of the stuff in the style of Northern Rock.
2) Other good news:
Our supporters in Durham had a stall with banners at the big event Durham Miners’ Gala with two or three thousand visitors.
Ben will be speaking at the FuturePerfect festival in Sweden in August, a big festival about sustainability attended by private and public executives, experts, researchers and students wanting to engage around sustainability at a higher level to achieve change-focussed exchange.
3) Upcoming Events:
Glasgow, Wed 25th July – “Islamic and Ethical Finance”
London – Crouch End, Wed 1st Aug at 8pm – “97% Owned” Screening