Poverty “We’re all feeling it”

Every year, the cost of living gets worse but no one explains why.

Council tax goes up. Rent goes up. Bills go up. Food prices rise.

And still we’re told to “tighten our belts” while private banks continue to profit creating money out of nothing and charging interest on it.

Meanwhile, the people who earn the least carry the heaviest burdens, trapped in systems they never agreed to and debts they never fully understood.

This petition is about asking the question no one in power wants to face:

Who gave the banks permission to create the money?

“End Debt-Based Money Creation”

The UK’s monetary system allows private banks to create money when issuing loans. a process confirmed by the Bank of England.

This money is not drawn from savings or reserves. It is created digitally, as debt, and repaid by the public with interest. generating private profit from public burden.

Bank of England: “Money Creation in the Modern Economy” (2014)

This article, published in the Bank’s Quarterly Bulletin (Q1 2014), explains how the majority of money in the modern economy is created by commercial banks making loans.

You can access the article here:

https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy

This practice funnels wealth upward, inflates housing and living costs, and locks individuals, families, and entire generations into cycles of repayment, often without understanding where the money came from in the first place.

This petition calls for a national review and legislative reform of this system. The goal is to establish a transparent, accountable, and democratically governed framework for money creation in the interest of the people, not just private profit.

We are not calling for fringe theories or untested models. We are calling for serious public discussion, legal clarity, and constitutional reform on how money is created, who controls it, and how it impacts our homes, our debts, and our democracy.

We must now ask the uncomfortable but necessary question:

Who creates money? For whose benefit? And under what lawful authority?

This petition begins that conversation — and demands that Parliament finally answer it.

What This Petition Calls For:

1. A full public inquiry into the process of money creation by private banks. The government must establish a transparent investigation into how commercial banks create money through lending, the legal basis for this practice, and its long-term impact on the public and economy.
2. Legislation to end debt-based money creation by commercial banks
   Only a public, democratically accountable institution should be permitted to create new money. This includes reforming the Bank of England’s role and limiting commercial bank money creation to intermediation — not issuance.
3. The creation of a sovereign monetary authority, accountable to Parliament and the people. A publicly governed body must oversee the lawful creation of currency, ensuring it serves the economy and public interest — not the profits of private institutions.
4. A constitutional review of the legal status of money, debt, and contract enforcement. Parliament must clarify under what lawful authority private liabilities (such as credit) are enforced as public obligations, and assess whether this undermines constitutional rights.
5. Redress and protection for citizens harmed by unjust or exploitative lending practices. Past and ongoing harm caused by debt-based money creation must be reviewed. This includes mortgage foreclosures, long-term debt traps, and credit systems built on artificially created liabilities.

Why This Petition Is Based in Fact:

The Bank of England confirms that commercial banks create money when issuing loans:

“Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money.”

Bank of England Quarterly Bulletin, Q1 2014

The 2008 financial crisis exposed the dangers of unchecked, debt-fuelled money creation. Yet no meaningful democratic reform has followed.

Banks continue to create credit that inflates housing costs, burdens families, and funnels wealth to the top.

The legal concept of “consideration” — required for any valid contract is undermined when a bank provides nothing but a digital liability.
The public provides labour and collateral; the bank provides entries on a screen.

UK courts have never properly examined whether the public has truly consented to this arrangement, or whether the creation of enforceable debt by private entities oversteps Parliament’s constitutional mandate.
Public campaigns like Positive Money and international economists have called for democratic reform of this system for over a decade.

The time has come to act.

What You Can Do:

This is not about political ideology, it’s about the rights of the people to know who controls our money, who benefits from our debt, and whether that power was ever lawfully given.

If you believe that money should serve the people, not enslave them…

If you believe that democracy includes the right to question what we’re made to repay…

If you believe that our economy must be built on truth, not illusion…

Then stand with us. Sign the petition. Share it. Demand Parliament answers the one question it has avoided for too long:

Who gave the banks permission to create the money?