[P2P-F] good news on monetary reform

Michel Bauwens michel at p2pfoundation.net
Mon Dec 2 22:48:48 CET 2013

*Subject: **The Green Party passed a monetary reform conference motion*

*Sent to Colin, Rianne, Jonathon, Karen, Jehangir and the Attwood mailing


         *A political step forward*

*In September Molly Scott Cato wrote, “we finally got the monetary reform
motion through conference yesterday” and a useful link to the Green Party’s
online account
given in James Robertson’s latest rich and wide-ranging newsletter

James notes that the *Green Party* has only one MP in Parliament, “the
distinguished and effective *Caroline Lucas**”, **adding that* it deserves
more clout in the 2015 general election, making:

“The one truly constructive announcement for the future from any of the
2013 party conferences”.

*The proposer of the motion, Andrew Waldie of Kent Green Party, said:*

‘The privatisation of the money supply by stealth must be reversed. The
creation of a country's national currency is in the interests of all its
citizens, and as such should be put under public control.’  He added:

‘In voting for this motion, the Green Party has put in place the third part
of a trinity of radical policies to finance the move to a post carbon and
equitable economy. Public credit creation joins the Citizen's Income and
Land Value Tax as the three jewels in the crown of our economic policy.’

 *Molly Scott Cato, the party’s Economics Spokesperson added:*

‘For too long the ability to create credit has been the preserve of the
private banking system. The financial crisis demonstrated that banks are
not competent to exercise this vital power and I am proud to represent a
party that has the courage to reclaim the right to create money to a
democratic authority that will operate in the interests of society at large
rather than the private shareholders of banks.’

‘The Green Party of England and Wales joins the United States Green Party
in opposing the creation of money by private banks and backed by debt. The
motion outlines how a Green government would end fractional reserve banking
and delegate the money creation function to a National Monetary Authority.
Direct credit creation would enable investment in public services and green

*A search for the text of this** motion, outlining how a Green government
would end fractional reserve banking and delegate the money creation
function to a National Monetary Authority, was fruitless. If this is sent
in, it will be added here.*

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