1: Editorial

The coming Autumn Conference of the Green Party will include not one but two motions proposing reform of our money system, but these are incompatible.

One, titled ‘Banking Reform’, proposes to end the private banks’ power of money creation, and return it, for the national money supply, to the State, on the lines proposed by Positive Money, in the UK, and the AMI, in the USA. (This would not restrict the possibility of creating and using ‘alternative’/local currencies, though I envisage that with a properly managed supply of national money spent into circulation, there would be little need or demand for any supplementary local currencies).

The other motion, titled ‘Monetary Reform’, proposes instead to natioalise all the banks, without making any change to the present way of creating (and cancelling) the national money. It is vague on how this nationalisation would be paid for, and fails to address the build-up of debt resulting from the present system.

Any readers able to attend and vote at this Conference are urged to come and support the first of these motions!

Meanwhile, the ongoing worldwide financial crisis is slowly getting more people to question the system and is leading to uprisings in desperation from its inevitable onsequences. The psychopathy of so many of those in power is gradually being recognised by more people, obvious as it is from their decisions and actions.

There is a tendency among monetary reformers to claim too much for it. In my view, it is an, even the, essential basic reform to secure the future for humanity and Nature, but will not on its own solve all the world’s problems! I am among those who believe that at least two other reforms must acompany it: introduction of Citizens’ Incomes, to end the ‘need’ for ‘full employment’ and everlasting ‘economic growth’; and changes in taxation, from ‘goods’ – e.g. productive work – to ‘bads’, such as the private use of the ‘commons’: so, land value taxation, and on mineral extraction, pollution, etc. Given the ending of the debts currently created by the private banks, the level of tax meeded to provide government services should be far lower, especially if money-reform spreads woldwide, and ends the need for much expenditre on police and the armed forces.

A set of 101 thought-provoking slides from New Zealand makes use of those slides to present a new thought, or a succinct way of expressing a fact hard to grasp or a challenge difficult to apply.

It is notable, for instance, for ‘the Siamese twins of land and money’; and for action that can be taken...........

I do not agree with the suggested way of money-reform, but its interrelationship with the other issues it emphasises is important.

Take a look:

Brian Leslie


If the American people ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied. The issuing power of money should be taken from the banks and restored to Congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money are more dangerous to liberty than standing armies.

Thomas Jefferson

The whining wealthy....Social tranquility at all times and in all countries is always advanced by the cries of anguish of the affluent. They have a much deeper sense of personal injustice than the poor and a far greater capacity for indignation. And when the poor hear the primal screams of the well-to-do, they imagine that the fortunate are really suffering and become more contented with their own lot. Good statesmanship has always required not only the comforting of the afflicted but the afflicting of the comfortable .

- John Kenneth Galbraith (in Almost Everyone’s Guide to Economics)