Vote Anne Belsey for MONEY REFORM

Dear Voter,

The Money Reform Party has just one policy -

that no money should be created by any privately-owned body or individual.
This policy might come as something as a surprise to those who assume that all of the money in circulation within the British economy is created by a public authority, such as the Bank of England. After all, we have laws against counterfeiting, don’t we?

The truth, however incredible or scandalous it might seem, is that over 97% of the money within the British economy is created by privately-owned companies - banks.

This money is created by banks whenever they lend any money, for they do not lend existing money, such as saver’s deposits, but create completely new money through a book-keeping exercise.

The late J.K. Galbraith, Professor of Economics at Harvard, is worth quoting here. “The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent.” Indeed, it could be said that the process by which banks create money is the root of all evil.

Your home is at risk...
if you do not keep up the payments on your mortgage. More than half of the money in the British economy has been created through mortgages. Since they entered the housing market in a big way during the 1980s, the banks have created so much money that house prices have shot up beyond the reach of many.

Nowadays, the average house costs ten times the average salary. In the early 1980s, the average house cost about three times the average salary, whilst in the 1930s, an average house could be bought for just one year’s average salary. Housing is now over three times its 1980’s and ten times its 1930’s cost in real terms.

Young couples are saddled with such hefty mortgages that both are required to earn full-time incomes. This is not conducive to the well-being of young families. Families under pressure put our schools, our health service and our guardians of law and order under pressure. Financial worry is the biggest cause of marital break-down.

Your public services are at risk...
because the government (of whatever party) also borrows money that the banks create out of thin air! And they would sooner ‘balance the budget’ and pay the interest on such ‘loans’ than put money towards our schools, hospitals, pensions, armed forces, and police.

Your business is at risk...
if you do not keep up the payments on your loan. Businesses are also under pressure. With such large slices of family incomes being used to pay off artificially inflated mortgages, there is less money available to spend with other businesses. Sales techniques have become ever more strident, particularly targeting children. Young parents, unable to give their children the time and attention that they naturally require, concede to demands for the latest fads and gizmos, often borrowing heavily in order to do so.

The banking ‘industry’ is able to lend any amount of the money that it creates out of thin air, so it has become quite reckless in its lending policy. It encourages people to borrow to buy things that they do not need and cannot afford, and only high levels of borrowing and spending, we are told, are keeping the economy from recession.

Your economy is at risk...
with total personal debt in Britain now exceeding £1 trillion. Overall levels of debt are now so high that the only way that the economy can find the money to meet the payment of the interest is by further borrowing. This is not a recipe for economic stability.

Every country in the world is in debt and, paradoxically, the richest country in the world, the USA, is the most heavily in debt. In trade negotiations we see every country trying to sell as much of its goods as it can to every other country, simply to reduce its own debt.

Many weaker countries’ economies have already been wrecked by debt, so their people head north to Europe to make a living. This is hardly surprising, given that our banks have taken their money.

Your world is at risk...
because in order to meet the demands of a debt-based money system, individuals, businesses and whole countries are busy consuming finite resources and destroying our world’s priceless environment simply in order to reduce their level of indebtedness.

All the money in the world that gets paid to the banks, in payment of the principle that they create out of thin air and the interest charged on top of that, is then used by them to play the world money markets like some obscene game of poker. Over 95% of the world’s money is now used to buy and sell money rather than facilitating the trade of goods and services. Yet all the money in the world will not be enough to buy a new planet when we have wrecked the Earth.

The Alternative
The Money Reform Party proposes that that no money should be created by any privately-owned body or individual.

Money creation should be limited to a public agency. Money should be spent (not lent) into circulation on public services, so providing the economy with the means-of-exchange that it requires.

This would curb the current debt-creation process and all the problems that that entails, and it would enable the government to both cut taxes and increase public spending, to the tune of a total of about £1000 per person per year.

This is not a risk,...
nor is it rocket science, nor inflationary, nor beyond the laws of nature, and a working example is presently close at hand. It has been the way that the Channel Islands have provided their money supply for the last two hundred years, enabling them to enjoy low taxes, good public services, full employment and no National Debt.

Vote for a debt-free future. Vote for Money Reform. Thank you.
Anne Belsey

Money Reform party