Green Party UK: “The power to create money must be removed from private banks”

WRITTEN BY POSITIVE MONEY ON . POSTED IN ENVIRONMENT & HEALTH & EDUCATIONPARLIAMENT & LEGISLATION

One of the key paragraphs:

EC661 The Green Party believes that, as the means of exchanging goods and services, the stock of money is a vital common resource which should be managed in the public interest. Yet only 3% of our money supply currently exists in the form of notes and coins issued by the Government or the Bank of England. 97% of the money circulating in the economy takes the form of credit that is created electronically by private banks through the accounting processes they follow when they make loans.

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