For those of you who weren't at Positive Money's Conference on the 1st of March, I can thoroughly recommend watching Ben Dyson's superb 30 minute talk on Sovereign Money Creation. You can find the video here.
Positive Money's blog on the Conference also has a shorter video of Ben answering questions from the floor.
Amusingly, 2 minutes into that video, you can see yours truly asking Ben a couple of questions. Firstly, I noted that Central Bank lending to governments was in principle banned by the Maastricht and Lisbon treaty. To that, Ben answered that while lending was banned, the treaty says nothing about GIVING freshly created money to governmnents. Nice one Ben!
I also asked him whether he thought that direct payments by central banks into citizen's bank accounts might also work. While he agreed that it was an option, he thought that spending money directly on activities such as house building would probably be even more efficient as a way of getting money into the economy.
No problem with that. I'm personally in favour of doing both. As long as we all agree that the key is debt-free money creation, there are plenty of options to be explored.
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