Who are you?
We are the Indian branch of a global movement to democratise money so that it works for society and not against it. We are working to tackle an issue that is at the root of many of the social and economic problems that we’re facing today…
What’s the problem?
Right now most of the money in our economy is created by banks. Banks create up to 97% of money, in the form of the numbers in your bank account, when they make loans. This means that they effectively decide a) how much money there is in the economy (money creation), and b) where that money goes (money allocation).
The control of the creation and allocation of money in the hands of banks has contributed to the following problems:
- unaffordable housing
- high unemployment
- high personal debt
- growing inequality
- high government debt
- financial crisis and economic instability
What’s the solution?
We believe the power to create money must be removed from the banks that caused the financial crisis and be returned to a democratic, transparent and accountable body. New money must only be created and used to benefit the public and society as a whole, rather than just financial sector.
We have detailed and workable proposals that would allow this to happen. Even the Financial Times has opined about the need to prevent banks from being able to create money in an op-ed titled “Strip private banks of their power to create money”.
How can I get involved?
See the Contact Us or Sign Up menu to start . . .