Positive Money
| File:Logo of Positive Money.png | |
| Formation | 2010 |
|---|---|
| Type | Non-governmental organization |
| Purpose | Economic justice, democracy |
| Headquarters | London, United Kingdom |
Region served | United Kingdom |
| Fran Boait[1] | |
| Affiliations | Finance Watch |
Staff | 15 (2017) |
| Website | www.positivemoney.org |
Positive Money is an organization based in the United Kingdom that has focused on criticism of fractional-reserve banking[2][3][4][5] and the government's choice of mechanism for quantitative easing.[1] It was founded by Ben Dyson in 2010.[6]
Positive Money has also initiated the International Movement for Monetary Reform[7] and the Eurozone campaign called "quantitative easing for people."[8][9]
Context and history
In 1929, the great Stock Market Crash announces the Great Depression.[4] Irving Fisher approved the Chicago plan in 1933[4] and published the book 100% Money in 1935.[6] In 2012, economists from the International Monetary Fund published The Chicago Plan Revisited, supporting the ideas of Irving Fisher to separate the monetary and credit functions of the banking system.[10][4]
After reading the book The Grip of Death: A Study of Modern Money, Debt Slavery, and Destructive Economics by Michael Rowbotham, Ben Dyson created the organisation Positive Money in 2010.[6]
In Switzerland, after reading Creating New Money: A Monetary Reform for the Information Age by Joseph Huber and James Robertson, Hansruedi Weber created the association Monetary Modernisation in 2011[11] which launched the "sovereign money" initiative in 2014.[12][6][13] The "sovereign money" initiative would prohibit commercial banks from creating money and give this power to the Swiss National Bank.[14] The Swiss population will vote on the initiative on 10 June 2018.
In 2014, Positive Money initiated the International Movement for Monetary Reform to reunite similar organisations around the world.[7][6]
In August 2016, members of the group gathered in front of the Bank of England to protest against quantitative easing.[15][1]
Policy ideas and proposals
While Positive Money has long pushed for a single proposal (the "sovereign money" plan[16][13]), it has put forward a larger set of proposals over the years including:
- Introduction of a central bank digital currency[17][18]
- Helicopter money or "quantitative easing for the people"[19][20]
- Green quantitative easing
- Fiscal and monetary policy cooperation[21]
See also
- Currency Wars
- Full-reserve banking
- List of monetary reformers
- Monetary reform
- Monetary reform in Britain
- Money creation
- People's Quantitative Easing
References
- ↑ 1.0 1.1 1.2 Fran Boait, "Monetary policy has an enormous impact on politics. It's time for a radical rethink", The Guardian, 12 October 2016 (page visited on 23 February 2018).
- ↑ Jason Douglas, "UK activist group emerges as voice for monetary teform", The Wall Street Journal, 19 August 2015 (page visited on 23 February 2018).
- ↑ Glaser, Eliane. "Nation-states aren't households: debating their economies as if they are is stupid". New Statesman.
- ↑ 4.0 4.1 4.2 4.3 Jason Hickel, "To deal with climate change we need a new financial system", The Guardian, 5 November 2016 (page visited on 23 February 2018).
- ↑ Chrispin, Sebastian. "Reality Check: Could the Greens change how money works?". BBC.
- ↑ 6.0 6.1 6.2 6.3 6.4 (in French) "Monnaie pleine : une opportunité en Suisse pour changer la monnaie" [The "Full money" federal popular initiative: an opportunity to change currency in Switzerland], La revue durable, number 60, winter-spring 2017-2018, pages 26-29.
- ↑ 7.0 7.1 International Movement for Monetary Reform, official website (page visited on 23 February 2018).
- ↑ (in French) Jézabel Couppey-Soubeyran, Philippe Derruder, Gaël Giraud, Alain Grandjean et Ariane Tichit, "La BCE doit réorienter son action", La Tribune, 31 March 2016 (page visited on 23 February 2018).
- ↑ "Our history - Positive Money". positivemoney.org. Retrieved 2017-11-04.
- ↑ The Chicago Plan Revisited, International Monetary Fund, 1 August 2012 (page visited on 23 February 2018).
- ↑ (in German) Monetary Modernisation association, official website (page visited on 23 February 2018).
- ↑ "Sovereign money" initiative, official website (page visited on 23 February 2018).
- ↑ 13.0 13.1 (in German) Daniel Eckert, "Der Krieg um das sichere Geld der Zukunft", Die Welt, 12 January 2014 (page visited on 23 February 2018).
- ↑ Mehreen Khan, "Switzerland to vote on banning banks from creating money", The Daily Telegraph, 24 December 2015 (page visited on 23 February 2018).
- ↑ Hamilton, Scott. "Bank of England Told Bond-Buying Won't Work by Protest Group". Bloomberg.com. Retrieved 2016-08-17.
- ↑ "Sovereign Money: An Introduction - Positive Money". positivemoney.org. Retrieved 2017-11-12.
- ↑ "Digital Cash: Why central banks should issue digital currency". positivemoney.org. Retrieved 2017-11-12.
- ↑ Ben Dyson, "Money has been privatised by stealth", The Guardian, 15 November 2011 (page visited on 23 February 2018).
- ↑ "A Guide to Public Money Creation: Outlining the Alternatives to Quantitative Easing - Positive Money". positivemoney.org. Retrieved 2017-11-12.
- ↑ Ben Dyson, "Change to UK's money system could solve our long-term economic problems", The Guardian, 6 February 2014 (page visited on 23 February 2018).
- ↑ "Making the Bank of England and Treasury work together - Positive Money". positivemoney.org. Retrieved 2017-11-12.
External links
- Positive Money
- International Movement for Monetary Reform
- Sovereign Money Initiative (Switzerland)
- "Where Does Money Come From"
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