Progressive Money Canada
Progressive Money Canada
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  • Money Creation
  • Money Myths
  • Inflation
  • Banking Pros and Cons
  • Letter to Parliament
  • Our Central Bank
  • Money Creation by the BoC
  • CBDC
  • Our National Debt
  • How can we do it better?
  • McGeer examines Towers
  • Textbook Fallacies
  • Documents
  • communications BoC/OSFI
  • Doughnut Economics
  • PMC Podcast
  • Debunking MMT
  • Links
  • Update Archives
  • Videos and Updates
  • More
    • Home
    • Money Creation
    • Money Myths
    • Inflation
    • Banking Pros and Cons
    • Letter to Parliament
    • Our Central Bank
    • Money Creation by the BoC
    • CBDC
    • Our National Debt
    • How can we do it better?
    • McGeer examines Towers
    • Textbook Fallacies
    • Documents
    • communications BoC/OSFI
    • Doughnut Economics
    • PMC Podcast
    • Debunking MMT
    • Links
    • Update Archives
    • Videos and Updates

  • Home
  • Money Creation
  • Money Myths
  • Inflation
  • Banking Pros and Cons
  • Letter to Parliament
  • Our Central Bank
  • Money Creation by the BoC
  • CBDC
  • Our National Debt
  • How can we do it better?
  • McGeer examines Towers
  • Textbook Fallacies
  • Documents
  • communications BoC/OSFI
  • Doughnut Economics
  • PMC Podcast
  • Debunking MMT
  • Links
  • Update Archives
  • Videos and Updates

How could we do it better? first we need to understand it!

Progressive Money Canada proposes a royal commission on banking open to all interested parties.

The purpose of the commission would be to create more transparency into the current system and map out the money creation process used by commercial banks. Measure its benefits and pitfalls and produce recommendations to improve the system for the public good.

Empower the Bank of Canada

Would removing the ability of commercial banks to create money affect how we get money?

No, however the way in which money comes into existence would change and we as a people would have more say in how the money creation process is utilized. This is not a new idea and has been proposed in different forms and at various times over the past century. Below are proposals from 1936 to the present day, I have highlighted some of the text in the PDFs to quickly illustrate the main ideas. Do not be intimidated by the math, it is not needed to understand the underlying thesis.

What are other countries doing about this?

Positive Money is a monetary reform group based in the U.K.

Positive Money has approximately  50,000 supporters, with a network of 35 local groups spanning the country, and have built relationships with world-leading economists, politicians and journalists. They have a variety of publications authored by economists and supporters that propose change by taking away privately owned commercial banks ability to create money and giving to the state. 

Positive Money also helped to launch the International Movement for Monetary Reform.

Modernising Money 2012

Positive Money's Proposal for Changing the U.K. Banking System

Sovereign Money

Monetary system analysis and reform by Joseph Huber

International Movement for monetary reform

The Chicago Plan revisited

The Chicago Plan Revisited - IMF - Copy 2012 (pdf)

Download

The Chicago plan powerpoint presentation

This presentation covers the main points from the original paper The Chicago Plan Revisited. Much easier to digest!

chicago plan Kumhof benes power point with Schumpeter note (pdf)

Download

100% money and the Public Debt

100% Money and the Public Debt - Irving Fisher 1936 (pdf)

Download

Hyperinflation fallacies

The main argument against public money creation is that it leads to hyperinflation.

 Is this founded on any empirical evidence? 

Find out more

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