User:Flurrious/Positive Money
Positive Money is a UK activist group calling for Monetary Reform.
History Ben Dyson founded Positive Money in 2010 after watching the financial crisis unfold.
Whenever a bank makes a loan and credits the borrower’s account with the funds, it creates new money electronically with a couple of keyboard taps. Today, these deposits exist as computer records and account for roughly 97% of U.K. money, according to the Bank of England, easily dwarfing the bank notes and coins in everyday circulation.
Positive Money wants commercial banks to be stripped of the power to create new money. Money creation would be the sole preserve of the state through its central bank.
In Britain, lawmakers held a debate on money creation in November.
Critics contend that it risks providing the economy with too little of the credit that greases its wheels—a charge proponents dispute because, they say, the central bank would be empowered to create as much money as it needs.[1]
The Swiss Sovereign Money initiative was part of the International Movement for Monetary Reform which was created by Positive Money in 2013.[2]
Positive Money wants the Bank of England to withdraw completely from fossil fuel firms.[3]