Positive Money's Ben Dyson in Iceland

The Positive Money founder, Ben Dyson, has spent last couple of days in Iceland where he was invited to meet the Economic and Trade Committee at Icelandic Parliament (Alþingi).

He had a full programme there – he was the main speaker at the Conference at The University of Iceland, had  a meeting with Central Bank of Iceland and several meetings with MPs, journalists and Icelandic monetary reformers.

Here you can watch an interview he gave for the newspaper Viðskiptablaðið on 4th March 2013:

The Iceland’s largest newspaper Morgunbladet published an interview with Ben Dyson on 6th March 2013.

The headline reads “Abolish the banks’ privileges”

Here’s a translation of a short extract:

Ben Dyson wants to stop the banks power to create “digital money” by creating debts and he gives a good answer to those accusing Positive Money and Better Monetary System in Iceland of socialism by giving the money creating power to the hands of the state: “We are not nationalizing the banks but taking from them the power of creating digital money. The Sedlabanki (like Bank of England/gs), has the monopoly of creating notes and coins. Everybody thinks that is a normal settlement. We think that the same should apply on digital money. The power of printing money has in fact been privatized without any discussion in society. By taking this power from the banks they will be forced to be like every other company on a free market and can go bankrupt without jeopardizing the whole economic system.”

Ben Dyson thinks that because of the bank crash in Iceland in 2008 and because of the small size of the economy, it would be easier to implement changes in the monetary system in Iceland compared to bigger economies.

Ben was the main speaker at the conference at the University of Iceland on Monday 4th March 2013

On Ben’s right: Mr. Gylfi Zoega, economic, a member of Iceland’s Central Bank’s Monetary CommitteeOn Ben’s left: Mr Frosti Sigurjonsson, economist, President of Better Monetary System in Iceland  and Ms: Lilja Mosesdottir, economist and Member of Parliament.