There is ALWAYS plenty of money. Don’t let the Tories lie to you again!


Money: there’s as much of it in the world as we want. Don’t let politicians lie to you that there isn’t, just to feed their own agendas.

One of the facts that has come out of the Covid-19 crisis is the fact that money is not scarce.

The Conservative government has been telling us for years that we needed to endure the austerity policies of Cameron, May and now Johnson because there wasn’t enough cash after the big banker-driven economic crisis of 2008-10, but we can see now that this is not true.

As soon as the pandemic hit, Johnson magicked up £300 billion from nowhere. The reason is simple:

Money is artificial. Governments can create it whenever they like.

Of course, Rishi Sunak is going to try to put the genie back in the bottle by saying we have to pay that money back in extra taxes and other clawback measures, but this isn’t true. We don’t have to. He’s just saying that to perpetuate the myth.

The economist Richard Murphy has been running a series of videos on YouTube discussing this subject – taking something that many people find dry and dull and turning it into bite-sized info-chunks that are easy to digest and take away with you, and he has tackled this issue here:

So there you are. Money is artificial; we can make as much of it as we like and use it to achieve what we like. The resource that is scarce is Planet Earth.

And we all need to re-order our thinking to accommodate that potentially deadly fact.

Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.

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5 thoughts on “There is ALWAYS plenty of money. Don’t let the Tories lie to you again!

  1. Thomas

    Richard Murphy’s blog Tax Research UK is superb – I am an avid reader. I would also recommend people who have not already done so to familiarize themsleves with Stephanie Kelton’s “The Deficit Myth”.

  2. Simon Cohen

    Worth also looking at Stephanie Melton’s ‘Deficit Myth’ where she explodes the myth that a currency issuing Governments can run out of money.

    Sunak of course is propagating this myth probably to keep vested interests going while they pork barrel spending to their new voter base.

  3. Jeffrey Davies

    We went through austerity they didn’t they just got richer while milking us now the peasants can’t evade taxes so we pay a good Tory has offshore accounts thuss evading taxes yet they steal ours by any means we have monies to keep us monies to put our children free from debt right through till they finish education but they stole that away we aloud them to untill the peasants wake up to this on it goes

  4. Growing Flame

    Excellent, Mike! At last someone is stating this loud and clear!
    Next time a Tory voter (or a Starmer supporter) whitters on about “we can’t afford it!” or “who will pay for all this!” we just have to ask, “Well, who will we owe all this money to?”

    Not to UK Banks, not to US Banks, not even to Chinese Banks. Because we didn’t take out a loan! The Government just (in a way) borrowed it from ourselves, promising to pay us back when we had spent it, but with no timescale and no penalties if we don’t. But, magically, these huge sums of money are managing to prop up the NHS, keep private industry going (with generous bonuses for incompetent CEOs), bail out small businesses, inadequately support millions who can no longer work due to Covid, and even pay twice what the EU pays for vaccines–and nobody in the Tory cabinet seems to blanch at the size of the payments.(Not yet anyway!)

    In the past, the UK paid for the First World War with massive loans from US Banks. Then slowly payed it all back, even stopping payments in 1934 because of severe economic problems. And US Banks and politicians were really outraged at this because , back then, it involved real money changing hands.
    But this is no longer the case. As I said, we don’t owe anybody anything. Except to ourselves. And we would be daft to deliberately punish ourselves by imposing more austerity to make ourselves suffer so that we pay ourselves back with pretend money that was never extracted from our economy in the first place!
    Then again, millions would vote Tory to do just that!

  5. stephen Brophy

    the tories used a glib note left by staffer who was joking and used that to trick the country with the help of their friends in the media! i don’t remember 50 years of austerity after the ww2, funny that!

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