Should We Expect a Decrease in Unemployment and Poverty?
24 August, 2011Poverty is one of the most prominent problems of the entire world. Numerous measures have been taken world wide to reduce poverty but it is still a burning issue. It is particularly much discussed in the post financial crisis period because an economic slowdown affects businesses, who cut back on production and costs, which in [...]
The Consequences of UK Household Debt
20 August, 2011Daniyal is a researcher volunteering for Positive Money through the summer. He is working on the impact of the current banking system on debt and poverty. The financial sector is an effective tool that can contribute to the economic development of the country. It can help in the expansion of business, assist in the expansion [...]
Positive Money Proposals: Left-wing or Right-wing?
30 July, 2011The kind of proposals that we’re advocating are neither left wing nor right wing. They get support from both sides of the political spectrum, sometimes for different reasons, and sometimes for the same reasons. The proposal denies the commercial banks their power to create money. It is pure common-sense, and it should be welcomed [...]
Response to the Independent Commission on Banking’s Interim Report
29 July, 2011The Banking Commission is tasked with figuring out how to reform the UK banking sector. In April we reported on the wash-out that was their interim report. From many contradictory statements in this report it is clear that they still do not understand how modern banks actually operate. They also failed to understand fundamental points [...]
You Can't Solve the Debt Crisis with More Debt
29 July, 2011Here`s a simple fact that we need to bear in mind as the financial crisis continues: We cannot solve a debt crisis by adding more debt. It`s a fact that seems to have been completely missed by the IMF, European Union and our own government. The solution to Greece? More debt. The solution to [...]
Forget Phone Hacking – The Real Outrage Should be at the Banking Crisis
19 July, 2011In a brilliant article on Huffington Post, Margaret Heffernan writes: "Complexity has been the banker's friend. Unlike the phone hacking scandal, most people tune out quickly, unable to follow the detail. But don't be fooled. The narrative is actually quite simple: The banks failed and we're paying for it because politicians are afraid to stand [...]
Spare a Thought for the Low Paid in Banks
9 June, 2011It's not all bonuses and seven figure salaries in banks outside the City of London. FairPensions are running a campaign to pressure banks to pay living wages (enough to live a basic but comfortable live) to the lowest paid employees of banks and other large corporations. They want you to email your bank here and [...]
Banks Angry at NS&I’s Unfair Competition (Conveniently Forgetting Their Own Massive Taxpayer-Funded Subsidies)
16 May, 2011Banks are angry that the government's National Savings & Investments (NS&I) are providing savings products that beat inflation, considering it unfair competition. That's fair enough. NS&I is backed by the full weight of the Treasury, which means that any money you put with them is risk-free and guaranteed by the state. But wait a minute: [...]
Treasury Select Committee: British Bankers' Association Refuses to Speak
13 April, 2011The Treasury Select Committee is a cross-party collection of MPs that has done a pretty good job of interrogating the banks. Interestingly, the chair of the British Bankers' Association is unwilling to speak to them. I wonder why? Full details are here: http://www.independent.co.uk/news/business/news/tyrie-livid-as-knight-refuses-to-face-tsc-2265638.html