We need a Money History Month

I’m indebted to tbis post on ProgessivePulse (PP) from ‘Schofield’ for leading me to think of this idea. We should be persuading Positive Money (PoMo) to start a MONEY HISTORY MONTH on similar lines to those of Black History Month.

Whilst Black History is certainly informative, I suggest that Money History is likely to be transformative.

To know how the Bank of England was never actually funded as its private backers promised, to know how they campaigned to be granted the unique rights to create Sterling and how those rights were first granted for only six years and how they had to campaign for renewal would surely be eye – opening for most now.

But could be almost run of the mill ‘1066 and all that’ if these things were actually regularly taught.

PoMo are the ‘campaigners’ and on PP most of us know that history is distinctly important for the understanding of money. (It certainly helped me.)

Whilst PoMo’s original objective was to transform the way money was created, it seems to me that a closer, and more achievable objective should be – especially as it is PoMo’s historical tenth anniversary – talking about history – and actually using it to demonstrate how money is now created.

Transforming money creation is unlikely to take place without the fuller understanding of what actually happens now – and why – and actually setting it in its historical context.


  1. Schofield -

    The history of money creation is sadly neglected by most people yet we can learn a lot from it. For example, in Christine Desan’s book “Making Money” we learn that the Romans for a 1000 years relied on coinage technology manipulation plus strong taxation during this period.

    We might, for example, gain a clue why its empire collapsed from the American revolution where a driving force to throw the British out was “no taxation without representation” and clearly this could apply to Roman vassal states whose people might believe there was no adequate representation for taxation purposes within the Roman governmental system.

    Indeed after the Romans left Britain the monetary system collapsed for 200 years because the inhabitants remaining didn’t understand the necessity of having a strong taxation system to reflux the coinage created.

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