All the money in your bank account was created by private companies. Through a loophole in the law and some clever accounting, these companies (commonly known as banks) create new money whenever they make a loan. This means that every pound or dollar in your bank account was created when someone else went into debt. For every £1 in your account, someone else has to be £1 in debt.

Consequently, allowing high-street banks to create money as debt means we’re in a game where we are scrambling over each other to stay out of debt. To get your head above the water, someone else has to sink below.

This also means that every year, we must collectively pay interest to the banks on every pound that exists -  a huge subsidy to the banks, and a huge expense to us.

So, if you’ve ever wondered why banks are so profitable, or where all this debt actually came from, or why the financial crisis really happened, this is your answer.

The video explains how we go into this situation. We hope you’ll join the campaign by signing up on the right hand side of this page > > >