Is Banking to Blame for Poverty & Debt? - Talk in Kingston, Wed 17th Oct 2012

Is Banking to Blame for Poverty & Debt?

This question will be discussed in Kingston on Wednesday 17th Oct 2012.

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Kingston and Richmond World Development Movement / Christian Council for Monetary Justice (CCMJ) present Ben Dyson (http://www.positivemoney.org.uk/consequences/consequences-of-debt-based-money-video/) of Positive Money (http://www.positivemoney.org.uk (http://www.positivemoney.org.uk/)), who argues that we are in a crisis because so few of us, including policy makers, economists, journalists and ordinary people, truly understand how our monetary system works.

This is a dangerous situation to be in when money drives almost all activity on the planet. The key flaw in our current banking system is that almost all money is now created by private banks as debt. In the words of Martin Wolf, writing in the Financial Times, “the essence of the contemporary monetary system is the creation of money, out of nothing, by private banks’ often foolish lending”. Because 97% of our money now is created by banks when they make loans, money goes wherever the banks decide. We end up with an economy that reflects the needs of profit-seeking banks, rather than the needs of society.

Ben Dyson explains how poverty and high debts are inevitable when all money is created as debt by banks, and how reforming the banking system is essential to dealing with the huge social and environmental issues that we face around the world today.

This meetup is for everyone interested in how money system works and how it could be changed to be constructive and socially beneficial. Come and feel free to invite your friends who might be interested too. Everyone is welcome!

Venue: C-SCAPE, Kingston University (http://e-voice.org.uk/thinkinkingston/calendar/item/8036438), Penryn Road campus
Kingston upon Thames
KT1 2EE
(view map) (http://maps.google.co.uk/?q=KT1%202EE)

When: Wednesday 17th October 2012 at 6.30pm until 8:30 pm.

Admission: Free

More info on the campaign: www.positivemoney.org.uk (http://www.positivemoney.org.uk/)