But, the debt narrative is preventing the possibility of investment programmes at the scale that we need, and so in this video I explain how we can use the ideas in green QE to re-orientate those savings towards productive use, and so to fund the Green New Deal.
The proposal is pretty dramatic. What I suggest is that by getting people to own the debt, quite literally, we completely change the narrative, and turn what is at present an obstacle into an opportunity to unleash the potential within the economy to deliver the good that we need.
So, QE. In order to beat the problem of all that money speculating we should….
We should issue NS&I bonds at 1% and people will flock to buy them, then we use the money to invest!
The reason the Bank of England currently owns £800 billion of 1% bonds is because no other fucker wants to buy them……