Newsletter: A miracle cure for the economy?

This is our newsletter from 4th July 2013. If you’d liked to be kept up to date on the campaign then sign up.

There are big challenges ahead for the new governor of the Bank of England, Mark Carney, who started on 1st July. The BBC states, “He does not have any miracle cures at his disposal”… But we believe he actually does! Cures that would create sustainable growth and jobs, boost productivity and boost exports, all without increasing the public debt.

1) Strategic Quantitative Easing

The Bank of England has created £375 billion through Quantitative Easing (QE). The money created has strengthened bank balance sheets and boosted the stock market, but has had limited effect on the rest of the economy. But there’s no reason QE can’t be put to better use – some simple reforms proposed by the New Economics Foundation could allow the Bank of England to put the money directly where it’s needed: building new homes, lending to small businesses and investing in green infrastructure.

A new report entitled “Strategic Quantitative Easing” published by the New Economics Foundation (nef) is calling for a strategic QE – investing in home building and energy efficiency, infrastructure and small business lending. If you have always wondered how exactly does QE work, and how it could work differently – this report will give you the answers.

Read the report here

2) Get a friend to fill in a survey

The New Economics Foundation’s new report on QE has already been covered by the media and read by many policymakers. But Positive Money wants to make sure it reaches a wider audience – to explain why QE hasn’t benefited the economy outside of financial markets, and why there’s a better way to create money and get it into the economy. And that’s where you could help.

We’re trying to find the best way of explaining money creation and how it could be reformed to help the real economy instead of financial markets. Can you ask a friend who doesn’t know about Positive Money or money creation to fill in this 8 question survey?

www.surveymonkey.com/s/QuantitativeEasing

Text you can use:

Hi, I support a campaign to fix the financial system called Positive Money. They’re looking to find out what people outside of finance know about Quantitative Easing (which you may have heard about it in the news).

Could you help by taking 3 minutes to answer 8 questions too, it’s important:

https://www.surveymonkey.com/s/QuantitativeEasing

3) Upcoming Events

London, 8 July – The Alternative Mansion House Speech

Chicago, USA, 19-22 Sept – 9th Annual AMI Monetary Reform Conference

The speakers are the main people on the front lines of monetary reform around the world. Here is the superstar line-up: Prof Joseph Huber, Dr. Michael Kumhof of the IMF, Prof. Kaoru Yamaguchi, Prof. Richard Werner, Prof. Nic Tideman, Prof. Steve Keen and others. Positive Money’s Andrew Jackson may also be presenting in person – to be confirmed.