A spectre is haunting Britain—the spectre of monetary democracy. All the powers of old finance have entered into a holy alliance to exorcise this spectre: the Bank of England and the City, Tory and Blairite, bankers and their kept economists.
I. Banks and Workers
Modern banking has simplified class antagonisms. Society splits increasingly into two great hostile camps: those who create money and those who labour for it.
The banks—these sorcerers who conjure money from nothing—have created a world after their own image. A world where:
The worker labours harder than his father, yet affords less.
The young cannot buy what the old bought with ease.
Whole regions starve for capital while London drowns in it.
This is not natural law. This is not the invisible hand. This is theft, systematised and sanctified.
II. The Secret of Money Creation
The bourgeoisie cannot exist without constantly revolutionising the instruments of production. But the banks have revolutionised nothing—they have merely mystified everything.
Here is their secret, spoken plainly:
When you borrow £100,000 for a house, the bank does not lend you money it has. It creates that money by typing numbers into a computer. That money did not exist before. The bank created it—as debt you must repay, with interest.
But the interest was never created. It does not exist. Therefore, there must always be more debt than money. Someone must always default. Someone must always lose their home.
This is not a flaw. This is the design.
The bank profits from creating money. You labour to repay money that never existed. And when the system crashes—as it must, as it always does—you bail them out.
Socialism for banks. Capitalism for you.
III. The Question of Sovereignty
Who should create money? This is the central question of political economy, carefully obscured by a thousand textbooks.
The answer is simple: The people, through their democratic institutions.
Not private banks extracting tribute. Not the City enriching itself. Not mysterious "markets" enforcing austerity.
The people.
When the state creates money for hospitals, that is called inflation and ruin.
When banks create money for property speculation, that is called growth and prosperity.
This is ideology masquerading as economics.
IV. What Is to Be Done
We do not advocate the abolition of banks. We advocate the abolition of their monopoly on money creation.
We demand:
ONE.
The Post Office shall offer banking to all citizens. No fees. No tricks. Money that serves people.
TWO.
Regional banks shall fund local enterprise. Money shall flow where it is needed, not merely where profit is greatest.
THREE.
The Bank of England shall finance public investment directly. No more borrowing what we can create. No more interest payments to bondholders.
FOUR.
Private banks shall be required to hold reserves equal to deposits. They shall lend money, not create it. They shall be servants of the economy, not its masters.
FIVE.
When new money is created, it shall benefit all citizens equally—not banks first and workers last.
These are not radical demands. These are basic requirements of a democratic economy.
Germany has public banks. Japan's post office is a bank. New Zealand launched Kiwibank. North Dakota has had a state bank for a century.
We demand what others already have.
V. To the Workers
Workers of Britain: You are told you cannot afford a home because you are lazy, because you waste money, because you lack discipline.
This is a lie.
You cannot afford a home because banks create money for those who already own assets, inflating prices before your wages rise. This is the Cantillon Effect—discovered 300 years ago, taught in no school.
You are not failing. The system is rigged.
VI. To the Regions
People of the North, the Midlands, Wales, Scotland, the Southwest: You are told your regions are unproductive, that you must accept managed decline.
This is a lie.
Your regions are starved of capital because London banks extract your deposits and lend them in London. Your businesses cannot grow. Your young must leave. Your high streets die.
This is not your failure. This is extraction, pure and simple.
Regional banks will end this. Your money will fund your communities. Your labour will build your future.
VII. To the Young
Young people: You are told you are entitled, that you expect too much, that you must accept less than your parents had.
This is a lie.
Your parents bought homes for three times their salary. You face seven times yours. Your parents paid £400 for university. You pay £27,000.
The difference is not your character. The difference is a financial system that creates money for asset-holders and debt for you.
You owe nothing to this system. It has stolen your future. Take it back.
VIII. The Coming Struggle
The banks will fight us. They will call us populists, extremists, economic illiterates.
Let them.
The bankers who crashed the economy in 2008 will lecture us about fiscal responsibility.
The executives who rigged LIBOR will warn about moral hazard.
The institutions that required £500 billion in bailouts will claim government cannot run a bank.
Let them speak. We will act.
IX. What We Are Building
We do not merely oppose the current system. We are building its replacement.
- Post Office Banks in every community—banking as a public service, not private extraction.
- Regional Development Banks funding the real economy—making things, building things, growing things.
- Democratic money creation for hospitals, schools, homes, and green transition—investment without interest, progress without debt.
- A financial system that serves the people because it is owned by the people and controlled by the people.
This is not utopian. This is practical. This is possible. This is necessary.
X. The Moment Is Now
Every crisis in the old system is an opportunity for the new.
They gave us:
- Austerity
- Private profit
- Debt without end
We offer:
- Abundance
- Public wealth
- Money without masters
The Call
The banks have nothing to offer you but more of the same: stagnant wages, unaffordable housing, hollowed regions, indebted youth, boom and bust without end.
We have an alternative. We have a plan. We have history on our side.
All we lack is you.
Join UsNot to beg the powerful for reform, but to build power ourselves.
Not to petition for fairness, but to create it.
Not to hope the system will change, but to change the system.
The Future
The old world is dying. The new world struggles to be born. Now is the time of monsters—and movements.
Let the banks tremble at our campaign. Workers have nothing to lose but their debts. They have a world to win.
WORKERS OF BRITAIN, UNITE BEHIND FAIR MONEY!
You have been told you cannot afford a decent life.
You have been told this is natural, inevitable, the price of progress.
You have been lied to.
The money system can be changed.
Will be changed.
Must be changed.
Join the Fair Money Movement.
Organise. Educate. Agitate. Win.
"The production of too many useful things results in too many useless people."
— Karl Marx
"We produce too little useful money and too many useless debts."
— Fair Money Movement