Do you need to be an expert to talk about money?

Debates tend to bring together expert researchers and politicians arguing on the steps forward for the future of humanity. Experts have always good arguments and counter-attack to keep the discussion going and confuse us in the midst of details and jargon. But us, lambda individuals, what can we possibly do?

Learn and share

Ian Tennant from Positive Money Uk explained today at the Leicester secular society how money is created by commercial banks and the consequences this have on the rest of the economy and our state of democracy.

Did you know that 3% of the money available is cash (coins and notes) and 97% is money created by commercial banks?

Did you know that between 1970 and 2012 the money supply increased from £25 billion to £2050 billion?

What shocked me was the idea that a non elected body (commercial banks 80 board members) decide how the 2.9 trillion created by them will be spent. The government has 650 parliamentaries and 2.1 trillions to allocate. Isn't there a more ethical way of doing it?

The bank of England this year acknowledged the creation of money by commercial banks. It confirms furthermore the need for our debtocracy to be changed.

More need to be done and it is our role as citizens to put pressure on our government for change!

In the meantime, reading 'Modernising Money' by Andrew Jackson and Ben Dyson give a good graps on how the money system works. Organising talks and debates keep the ball rolling. Finally, writing to our MPs to put get those questions debated. We do not need to be expert to do those things: just read, speak and write.

Once the debate starts, the experts can be present to develop and put in place a better system with the consciousness that we are watching them.

I am pleased that positive money is a strong voice encouraging individuals to look more into those issues. The majority of followers are no experts but only care.