Pod Academy

Money. We all know what it is, but who creates money? The answer is actually surprising. 97% of money in our economy is created by private banks when they make loans, and this is carried out by these banks simply typing numbers into a computer. In doing so, private banks invariably divert this newly created money into house price bubbles and other forms of financial speculation. So, in response to this, a campaigning organisation named Positive Money has sought to raise public awareness about such money supply issues, highlighting, in a recent book named Modernising Money(2012), how house price inflation, high levels of personal debt and widening inequality can all be linked to who has the power to create money. I went to speak with Positive Money’s founder, Ben Dyson, in their London office. I started by asking about the aims and objectives of the organisation. Ben Dyson: We're trying to get a banking system that works for society and not against it. We have seen all of the chaos that the financial system