Initiatives
Positive Money

Positive Money

Burgess COMMENTARY

Peter Burgess

Dear Peter, Last Tuesday an Icelandic Member of Parliament and the Chairman of the Committee for Economic Affairs and Trade, Frosti Sigurjonsson, published a report calling for the Icelandic government to consider removing the power to create money from private banks and setting up a Sovereign Money system. The report outlines our proposals, as detailed in Modernising Money. This is a huge milestone for our campaign. Iceland’s Prime Minister, who commissioned the report, stated that it is 'an important contribution to the upcoming discussion, here and elsewhere, on money creation and monetary policy'. Does our future Prime Minister know how important this is? We need your help to make sure they do! Sign our petition and ask the future Prime Minister to ensure money creation is only used in the public interest. The report has provoked a response from The Financial Times, The Telegraph, The Economist, RBS Economists and Reuters. The Economist writes: “If successful, Iceland's experience could serve as an important case study for global monetary reform.” The campaign for money reform can feel like a long journey. This report takes us one step closer. Our input into the report was only made possible by donations from supporters like you. Please consider setting up a monthly donation of £10 or whatever you can to keep the campaign going. Read this blog post to hear more about what economists and journalists are saying about Iceland’s Sovereign Money proposals.

From the blog: Quantitative Easing for the people, not for the banks! (Video) A mistaken estimate of what QE can do? (A response to John Hearn, IFS) Bank Robbery: Inequality and the Banking System Why the failure of Kaupthing Edge teaches us nothing about full reserve banking (A response to Dow, Johnsen and Montagnoli) Iceland: Fundamental reform of the monetary system must be considered

Upcoming events: Monthly meeting – Hackney April 13 Social evening – Cheltenham April 13 Monthly meeting – Belfast April 14 Local Group Meetup – Hammersmith April 15 Assembly for Democracy – Manchester April 18 Talk on ‘Banks, Debt and Inequality’ at Festival of Debate – Sheffield April 22 Saturday Market Stall – Cambridge April 25 Local group meeting – Cheltenham & Gloucester April 27 Monthly Meeting – Newham April 28 Communications skills workshop – Hackney May 11 Best wishes, Frank and the rest of the Positive Money team www.positivemoney.org