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Geoff Blanning: Ex Nihilo – Money From Nothing and the Catastrophic Impacts of Inflation

Geoff Blanning, a former investment manager, is the author of the white paper “Put Tools Away Now, Please” and is co-producer of the Cobden Center documentary film “Ex Nihilo, The Truth About Money”. The objective of the film was to make the complex world of finance accessible to the average person and educate the public on the monetary system. He aims to persuade politicians to make changes to the UK’s Bank of England and stem out the overwhelming cost of living squeeze.

The Cobden Centre’s view is to create sustainable growth by having an “honest money” that preserves its purchasing power across generations. This requires a constrained central bank balance sheet, preventing chronic inflation. The expansion of the balance sheet has led to money being pumped into sectors such as property and financial which has led to a disparity of money and resources between sectors.

Geoff talks about the effects of financial sector speculation and how it misallocates labour and resources. He mentions the British government’s target to combat inflation and mentions cryptocurrency as an example of misallocated resources. He identifies possible solutions such as education and political change, and notes that it will take a crisis to push this change in the right direction. He also explains the idea of ‘monetary socialism’ and how the interest rate should be set by the market for a more sustainable and less volatile monetary system.

A link to The film and further information is available at the links in the description below. The film is available for free on YouTube, and people with little or no background in finance have expressed a good reception to it. Geoff wishes to spread the film to the financial sector and make inroads, as many people do not understand the importance of money.

Time Stamp References:
0:00 – Introduction
0:52 – Documentary
1:20 – Trailer
4:18 – Understanding Money
6:08 – Inspiration
8:40 – Challenges Producing
12:04 – The Film’s Reception
13:20 – Honest Money & Growth
16:10 – CPI Growth/M4 in U.K.
19:05 – Cantillon Effect
20:24 – Impacts of Cheap Money
22:05 – Crypto Concerns
22:38 – Fighting Inflation
23:58 – Interviews with Bankers
25:36 – Possible Solutions?
30:37 – Monetary Socialism
32:00 – Roadblocks to Change?
34:52 – Reception & Objectives
36:48 – Wrap Up

Guest/Documentary Links:

Geoff Blanning is a former Investment Manager and Member of the Group Management Committee at Schroders Plc, author of “Put the tools away now, please” (2021) and Co-Producer of “Ex Nihilo: The Truth About Money”, a Cobden Centre documentary film, which exposes the fundamental flaws at the heart of our monetary system.

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