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Positive Money talk on Shadow Banking

Mon 27 Jul 2015, 7.30pm, Quaker Meeting House, 10 St James St. S1 2EW

The monthly meetup of the Sheffield group of Positive Money supporters, an organisation campaigning for monetary reform and an end to debt slavery. This month's talk is given by Dermot Smyth, a longstanding member of the group.The money system in crisis - is shadow banking a problem too? If Positive Money's proposals for Sovereign Money creation were implemented, could 'shadow banking' undermine them? In order to try to answer this question, some unravelling is required. For example, the relationships between the 'real economy' (production and consumption of goods and services), high street banking (money directly related to the real economy), investment banking (holding shares or bonds for the dividends and interest payable), and shadow banking (speculative trading of any commodity or derivative, in order to profit from price fluctuations). Also covered will be the 'zero-sum' principle and its limitations (the false idea that private credit and debt cancel each other out).Positive Money Sheffield meets on the last Monday of each month. They organise local events, screenings, presentations, talks and discussions, with the aim of spreading the word and helping the campaign to grow. They provide an open and inclusive space for supporters to meet like-minded people in a friendly environment and to debate questions around the money system. The talk should last around 45 minutes, followed by discussion of the issues raised. Donation of £3 suggested to cover the cost of the room. Positive Money Sheffield

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