Critics of quantitative easing highlight the absurdity of creating money from nothing to paper over terrible investment decisions. Yet, what about all of the money created by banks before 2008? Incorrect narratives of money have misdirected and befuddled our thinking on finance and currency, limiting our responses to the global financial crisis. Can we learn about the internal dynamics of financial and monetary regimes in enough time to develop a positive response to the next financial crisis?

The Extraenvironmentalist discusses our global systems of money and finance with Ben Dyson of Positive Money UK. Ben tells us why journalists, academics, economists and citizens have so much difficulty talking in an intelligent way about our money system.

The interview covers several topics, e.g.: Quantitative Easing, Gold standard, Effects of the current money system on environment, imperative for economic growth, What the new system could look like, How our lives would be affected by the Positive Money reforms, History of money, the Myths taught in Economics, e.g. the evolution of money from barter, the money multiplier theory, Concerns about hyperinflation… and how would a genuine bank commercial sound like…

Then follows an interview with Brett Scott who describes the ways he was able to apply an anthropologist’s approach to work as a derivatives trader. Brett discusses his book, ‘The  Heretic’s Guide to Global Finance: Hacking the Future of Money’ as he describes leverage points where activists can disrupt global financial flows to support ecological and social initiatives.

LISTEN HERE (55 min Ben Dyson + 30 min Brett Scott): 

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There’s been a lot of people complaining about the fact that central banks have been creating money via quantitative easing. What they don’t realize is that actually money is created all the time, it’s just that usually money is created by the commercial banks – the banks that have been implicated in the financial crisis, the same type of banks that you’ll have your bank account at…

Books:

Modernizing Money: Why Our Monetary System is Broken and How it Can be Fixed by Andrew Jackson & Ben Dyson
Where Does Money Come From by New Economics Foundation
The Heretic’s Guide to Global Finance: Hacking the Future of Money by Brett Scott