Welsh Assembly Briefed on Reforming Money

Wed Apr 4 21:29:57 BST 2012

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Positive Money

1) Welsh Assembly Briefing on Reforming Money

On March 27th 2012 Ben Dyson of Positive Money 
and Josh Ryan-Collins of the New Economics 
Foundation gave a briefing to the Welsh Assembly 
on the problems with our current debt-based 
monetary system, and proposed ideas for 
implementing complementary currencies in Wales 
without waiting for action from Westminster.
Darren Millar AM agreed to initiate an all-party 
group on the issue of money to discuss these ideas further.
You can watch the audio and slides of the 
presentations and listen to the discussion that 
followed 
<http://positivemoney.us1.list-manage.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=8952dcff25&e=2a0c5d0036>here. 

2) Speakers Training Edinburgh - last few spaces

If you are interested to become Positive Money 
Speaker and you live in/near to Scotland, you 
still have a chance to register for the Speakers 
Training on 21st April. More info and 
<http://positivemoney.us1.list-manage1.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=de9b5f47cc&e=2a0c5d0036>registration 
here.

3) Mainstream Economists taken to task for not understanding money

[]
Nobel prize-winning economist Paul Krugman has 
been taken to task by the excellent Steve Keen 
(and his supporters) for not understanding that 
banks create money. This is a big step forward; 
these economists would normally get away with 
completely ignoring the fact that 97% of money is 
created by banks. An insight into the way these 
economists think comes from the bizarre statement below:

KRUGMAN: [Steve Keen] asserts that putting banks 
in the story is essential. Now, Im all for 
including the banking sector in stories where 
its relevant; but why is it so crucial to a story about debt and leverage?

Why?! Positive Money's Andrew Jackson has blogged 
about this step forward in the 
<http://positivemoney.us1.list-manage1.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=d087a667ea&e=2a0c5d0036>debate 
here.

4) Bank of England: Creating Money Gives you "Value for Nothing"

[]
Here's a quote from Paul Fisher (Executive 
Director of the BoE and member of the MPC) 
broadcast on Sunday (in a programme called "What 
is Money?" in the Radio 4 series "Analysis"):

Presenter: Would you mind if I printed my own 
money - it wouldn't look anything like yours from the Bank of England.

Paul Fisher (Bank of England): Yes we would mind. 
When you start printing money, you create value 
for yourself. If you could issue one thousand 
pounds worth of IOUs, you've got a thousand 
pounds for nothing. And so we do restrict 
people's ability to create their own notes in that way.

Presenter: You're protecting us against ourselves.

Fisher: We're protecting you from charlatans.

So if someone can create money out of nothing, 
they get value for nothing? And are charlatans? 
Does this only apply if you're printing paper 
money, or does it also apply to the banks that 
have created over £2trillion of money out of 
nothing electronically? Did they get £2trillion 
of value for nothing? Something for us all (and 
especially the Bank of England) to ponder!

Listen to the 
<http://positivemoney.us1.list-manage1.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=4b0888bea7&e=2a0c5d0036>original 
here (29 min; right towards the end)

5) Upcoming Meetups & Events
<http://positivemoney.us1.list-manage.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=83f5a7d97f&e=2a0c5d0036>
Belfast Positive Money Meetup, Thu 5 April
<http://positivemoney.us1.list-manage2.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=ccca0db04e&e=2a0c5d0036>Is 
banking to blame for poverty and debt? Birmingham, Sat 21st April
<http://positivemoney.us1.list-manage.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=acf94b78f3&e=2a0c5d0036>CONFERENCE 
"Just Banking" - Edinburgh, 19-20 April

6) Latest from the Blog

<http://positivemoney.us1.list-manage.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=8144115669&e=2a0c5d0036>Mainstream 
Economist Discovers that Banks Create Money
<http://positivemoney.us1.list-manage1.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=029c2ce863&e=2a0c5d0036>Krugman 
vs. People Who Understand How Banks Work
<http://positivemoney.us1.list-manage2.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=af904f0f9e&e=2a0c5d0036>Greek 
Hospital Workers Understand the Core of the Debt Problem
<http://positivemoney.us1.list-manage.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=94c16e288e&e=2a0c5d0036>Green 
Party gets it on Monetary Policy
<http://positivemoney.us1.list-manage.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=d7ccb3607e&e=2a0c5d0036>What 
is Money? on BBC Radio 4
<http://positivemoney.us1.list-manage.com/track/click?u=7396d6c5dc44c9d3b64d8265c&id=4ff852bc2f&e=2a0c5d0036>The 
Budget 2012: Lets rearrange those deckchairs boys!

All the best,

The Positive Money team Ben, Drew & Mira

  Copyright (C) 2012 Positive Money All rights reserved.
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