Imagine a world where huge amounts of money are created out of nothing for private profit and destroyed again once profit is taken, so that …
Search Results for: central banks
Exposed: The banks’ £23bn hidden subsidy
Who controls the creation of new money? Many people might answer ‘the state’ or the ‘central bank’. But the hard currency printed by the …
Global population does not want commercial banks to stay responsible for creating most of the money
More than 23,000 people in 20 countries were asked about who they think actually creates 95% of the money in circulation and who they think …
IMF: The Truth about Banks
Banks create new money when they lend, which can trigger and amplify financial cycles, reads the article published on the …
Bank of England: UK banks to lose their status as ‘gatekeepers’ to the payment system
In a significant breakthrough, the Bank of England (BoE) has just announced it will be adopting a policy change that Positive Money has been …
Could fintech companies save us from the instability the banks create?
At school or university, we’re told that money is created by the central bank. But that is not actually the case: the commercial banks are …
Radical New Central-Bank Thinking? The Case for Monetary Finance (by Adair Turner)
The International Monetary Fund has held its sixteenth annual Jacques Polak Research Conference on 5-6 November 2015. The …
Bank of England’s chief economist hints towards a digital form of central bank money to compete with bank-issued money
Last week Andrew Haldane, the Bank of England’s chief economist hinted that current monetary policy might be broken, and that other policies …
Money creation is a lucrative business for private banks
How is money created? Most people, including many economists, think that central banks and thus government creates our money. The …