September 2018 Release of our petition to have the Reserve Bank issue our money along with an opinion piece.

June Press release on the swiss referendum. Despite the campaign of confusion and fear run by opponents, 25% voted for the Sovereign Money Initiative.

April The AustralianRoyal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry is coming up with some serious wrongdoing by the banks and financial institutions

May 2017 Positive Money New Zealand issued a press release seeking clarity from the Reserve Bank on how our money is created. They still refer to intermediation by the banks, which is not how our banking system works.

5th November 2016 An article in The Guardian newspaper in England argued that abolishing debt-based currency holds the secret to getting our system off its addiction to growth.

5th September 2016 KPMG released a report, commissioned by the Prime Minister of Iceland, titled "Money Issuance" The report looked at money created by the Government.

28 March 2016 Bryan Gould agreed to be our Patron. Bryan is a respected commentator on economic matters, an author, academic and Companion of the New Zealand Order of Merit.

14 October 2015 The Finance Commission of the Dutch parliament discussed monetary reform.

22 November. The British parliament debated money creation last week, for the first time in 170 years. There was cross-party support for a proposal to set up a monetary commission

23 September. A new generation of young people, dubbed ''property orphans'' may be destined to be renters for life.

17 September. The Bank of International Settlements (BIS), the bank used by central banks, confirmed New Zealand houses are among the most "unaffordable" in the world compared to people's incomes.

25th April 2014 "Strip private banks of their power to create money": says the Financial Times' chief economics commentator Martin Wolf, who endorses Positive Money's proposals for reform

15th March 2014 - In a historic move The Bank of England quarterly bulletin explains how money is created. Whenever a bank makes a loan, it creates a deposit in the borrower's bank account, thereby creating new money. The bank says that this differs from the story found in some economics textbooks.

16th August 2013. The retiring head of the Financial Markets Authority apologised for the mistakes made saying "You were let down".


Abraham Lincoln"The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity"

Abraham Lincoln

Our Nation's Money

Marc Joseph

The situation around money is quite exceptional. The public's perception of where our nation's money comes from, believing it comes from the government, is wrong. Yes a tiny part, the cash part, comes from government but that portion, about 3%, is insignificant. All the digital money we use is created by the private banks. It's our national money, yet private actors have been given the power of producing it for our economy. Think of it. The New Zealand dollars we all must have to participate in the economy are supplied by private banks who decide who gets how much and who doesn't. Is that democratic?

Let's look a little further. That money, our nation's money, is issued to us as a debt that we must repay. In other words, we may as well call it our nation's debt. Our money is debt, but why is that debt owed to private entities who produce it "out of thin air" by tapping a keyboard? And this debt has interest attached, which means that the debt grows over time, increasing beyond the capacity of the people to repay it. Indeed, the total debt owed to the private banks today is far greater than the total money supply. The debt cannot and will not ever be repayed. So we work to repay the unrepayable debt to private actors who have done virtually nothing. How can this be?

The reason is that people just don't know. Somehow, we've been indoctrinated to never question the source of money. The result is everwhere evident: inequality, poverty, homelessness, environmental degradation, crisis. Our challenge is to dispel the erroneous thinking around money. If society knew the truth, the private control of our money would end. The people would demand that the government assume control over our money supply and soon the financial solution to our myriad problems would be available. No more debt.

We need money. We don't need debt. Debt distorts the economy. It makes it run inefficiently, squanders natural resources, spawns a rat race that wastes human potential, and greatly enriches a few at the expense of the many. It's clear that society would reject private production of our money given that everyone deplores the inequities that are the result. So tell your friends. Recommend this blog and the Positive Money website. Let's work to end private control of our nation's money.

Change money, change the world.




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