Transition Derry

Tackling Peak Oil, Climate Change and Economic Breakdown

How to waste £375 billion

In 2010 the government cancelled a program to rebuild 715 schools, because they'd run out of money. But at the same time the Bank of England had created £375 billion of new money through a program called Quantitative Easing. Instead of this money being spent on something useful, it was pumped into the financial markets, benefitting the richest 5% but doing almost nothing to create jobs and stable economic recovery.

So why does the government cancel essential projects because “there’s no money”, while at the same time the Bank of England was able to create more new money than the entire government spends in 6 months? Why is it that the power to create money is used to blow up property bubbles and boost financial markets, but not to do the things that we actually need? Our latest video explains how things could have been done differently, and why it's so important to campaign for a better monetary system...

1) WATCH THE NEW VIDEO: How to waste £375 billion

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a) Share this video on Facebook

b) Tweet it – try to think of people who might be interested and mention them in your tweet

c) Email the video to your friends:

Text that you can use:

I've just watched this video which explains why the government was cancelling school rebuilding programs and flood defence programs because they'd 'run out of money', even though the Bank of England was creating £375bn to pump up the financial markets. I think you'll find it shocking: http://bit.ly/videoQE

2) Sign the petition

In case you haven't yet, please make sure to sign the petition and share:

"Tell the future Prime Minister of the UK that money creation should only be used in the public interest"

Read the full text of the petition and sign here.