The Guardian: Change to UK’s money system could solve our long-term economic problems

Oh, at long last the monetary reform movement gets a long overdue platform in the Guardian.

This is the biggest story out there right now – shamefully untold by the British media and the greatest opportunity for the ordinary people of this nation to improve their lot that exists today.

I’m so delighted to see Ben and Positive Money get some coverage – what that small team has achieved with shoestring resources is little short of miraculous – every right thinking person should go and visit their website RIGHT NOW.

This is one of many comments below Ben Dyson’s article entitled “Change to UK’s money system could solve our long-term economic problems” in the Guardian, Wed 6th Feb 2014

Here’s a short extract:

If electronic money was created directly by the Bank of England progress would be made, but sparks would inevitably fly.

Banks would still exist, as providers of current accounts (which would hold money created by the Bank of England, rather than an uncertain IOU from a bank), and as middlemen between savers and borrowers. But they would lose the ability to create new money in the process of lending.

The idea of removing banks from their role as creators of the nation’s money will strike many as radical. But it is surely more radical to entrust the same banks that caused the financial crisis to create the money on which the rest of the economy depends.

Read the whole article here and please leave your comments below (there’s lots of misconceptions amongst the Guardian readers and we would appreciate your help in helping them to understand how the money system works.)