07 Minutes from 28th May 2012


Date  28/05/2012 Facilitator Andrea 
Time  19:45-21:00 Minutes Peter/Mike/Dermot
Location  Central United Reform Church Type of meeting Meet-up


(add yourself if missing)

11 people. A few newcomers, the rest had been to at least one previous meetup


Table of Contents




presenter: Peter


Peter gave a summary of past and future events


1) Conference - "an economy for the 99%" - 19th May

Around 50 people attended the Positive Money talk, and around 20 chose the PM breakout session.

There are pictures and podcasts at http://sheffield.indymedia.org.uk/2012/05/496264.html


2) Peace in the Park. Sat 9th June. More volunteers needed with the stall. Martin, Monish and Mike all offered


3) Next 2 meetups will be last Monday of June and July at the Quaker Meeting House. 7:45-9:00pm (following on from the Occupy meeting)

What's it all about?!

There was no fixed agenda, we asked for suggestions for agenda items and there was only one - "what's it all about?!" - but it led to a wide-ranging discussion. Highlights below


Peter gave a short summary of the Positive Money reforms.


What do economists think?


Where did it all go wrong?

Probably a gradual deterioration since 1844! (http://www.positivemoney.org.uk/how-banks-create-money/short-history-banking-money-creation/ ). There was a gradual increase in credit creation through the 20th century, but the main turning points were


What would a reformed system look like. Would small businesses be able to borrow?


Why is so much new debt-money created in the financial sector? What is the incentive to lend?


The international picture

Monish raised the subject of global inequalities due to unfair exchange rate mechanisms, and questioned the role of the IMF and the World Bank. There was insufficient time to debate this, but it was noted that


Where can we find out more?



There were a few grumbles about our IT systems