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article imageOp-Ed: Positive Money - training people to take on the banksters Special

By Alexander Baron     Feb 4, 2012 in World
London - The people behind Positive Money have recently released videos of their October conference; now they have a bigger task, training a small army of speakers to spread the gospel, and break the stranglehold the banking cartel has over the economy.
Spreading the gospel is usually the work of prophets; Ben Dyson and his gang are less concerned with prophets than with profits, in particular like an increasingly educated public, they want to see less profit for the banksters and speculators, and money ploughed into real investments, such as infrastructure, manufacturing and projects that benefit the people, rather than a tiny number of men and women whose only activity is to shuffle around pieces of paper at the expense of us all.
Last October, Positive Money held a conference which featured among others the plain speaking Labour MP Michael Meacher. Now, this small but dedicated pressure group is on a recruiting drive, not for members - although all are welcome - but for speakers. Currently there are three training days lined up: for Central London, Leeds and Edinburgh. More are in the pipeline; details can be found here.
Although Positive Money is a UK based organisation, this is an issue that affects every human being on this planet. It has enormous ramifications for the American economy, which is floating on a sea of Federal Reserve notes, all of it created as a debt. The poorer nations are in this grip of death as much as the rest of us, some would say more so. Instead of sucking the lifeblood from Western taxpayers - so-called aid - and pumping it into the pockets of the ruling elites of Africa, these countries would be able to develop their own economies debt-free.
Hopefully, others will follow Dyson's lead, in the meantime, taking a more parochial view, he answered a few questions:
AB: How long has Michael Meacher been a Positive Money supporter?
BD: We've been discussing this issue with him since around May 2011.
AB: He was obviously addressing an enlightened audience. What part did you play in in this?
BD: The audience of around 200 were all enthusiastic people who had learnt about the subject; they'd also been in the conference since that morning so they'd seen me give a full description of the current system and why it needs to be reformed.
AB: Have you got anymore MPs lined up to speak?
BD: Not at the moment.
AB: When is your next big meeting?
BD: There's a number of small meetings going on round the country. At the moment there's no bigger public events planned, as we're focusing on training up 50 people to speak on the subject.
AB: What is the Government actually doing at the moment apart from “paying down the deficit?”
BD: Not to be pedantic, but technically you can't 'pay down the deficit', you can only reduce it. You can pay down the debt (the total outstanding debt), but first you have to get the deficit (the annual difference between what the government earns and what it spends) to zero, and then go even further to start paying down the debt. I think the government deliberately uses unclear language like 'We're going to clear the deficit', because many people will hear that as 'We're going to pay off the debt', whereas all they're aiming to do is stop the debt growing as quickly. And they're not even doing that successfully.
AB: The left appear to be wilfully blind about this most important of issues; according to the Socialist Party of Great Britain (in an attack on the Social Credit proposals of Major Douglas): “[banks] are essentially only financial intermediaries, borrowing money at one rate of interest from people with cash to spare and lending this at a higher rate to those needing money to spend or invest, their profits coming from the difference between the two interest rates”. As you pointed out in your critique of Bob Diamond last year, this is not true. Worse than that, it is an outright lie, because now it is generally accepted that banks do create credit ex nihilo. Why do so-called socialist organisations peddle such lies and toe the banks' line?
BD: It's the ideological attachment to getting rid of capitalism that blinds them to seeing how things really work.
I once saw a letter in the Morning Star saying that money can't possibly be created by banks, because if it was, then Marx would have been wrong.
Impossible to think that Marx might've got something wrong eh?
I tend not to spend too much time worrying about them...
This opinion article was written by an independent writer. The opinions and views expressed herein are those of the author and are not necessarily intended to reflect those of
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