Petition End Money Creation as Debt - Full Reserve Banking

We call upon HM Treasury to take full responsibility for the creation of new money, not as government bonds as with QE but as fresh new money with no debt associated, and pass legislation to move towards a 100% reserves banking. As advocated by the pressure group "Positive Money"

As an economy and population grows there does need to be a corresponding increase in the money supply.

At present, new money (commercial bank credit) is brought temporarily into existence during the duration of the loan period with no corresponding reduction of savers spending power. Also, as interest is added, this leads to redistribution of wealth into the banking sector.

We ask that an independent body is created to regulate when money needs to be added or reduced. This should correspond with the needs of our society and environment such as infrastructure, education, healthcare and energy needs.

This will help reduce government spending/debt and create opportunities to create jobs.