Dicky's approach to changing the banking system!
That’s on top of 260 to David Cameron in Witney on Tuesday and 254 to Liam Byrne Chief Secretary to the Treasury in Birmingham on Monday!
As far as I can make out, commercial banks like the four high street banks are allowed the immense privilege of creating money out of nothing that then becomes their own property.
It’s a mistake. It caused the credit crunch.
You and I aren’t allowed to create money out of nothing. We’d be locked up! Why allow these businessmen to create almost all of our money supply as their own property.
We don’t have to. We could make the Bank of England, as a public servant acting on behalf of us all, to be the sole creator of money in our land. It would then be the property of our society as a whole – not that of a few businessmen who own banks.
All I’m asking Mr Osborne is for a frank discussion. I want him to answer people like James Robertson who writes lucidly on this in his book “Creating New Money” which is on his website.
There’s much muddle on this issue and that suits bankers fine!
…And the problem isn’t bankers’ bonuses but rather the activity that the bonuses encourage – namely getting people to borrow from banks, because it is in the instant of lending that money is created in the ownership of the banks that didn’t exist until that moment.
You can contact Richard here:
Rev Dr Richard Rodgers, FRCS
The Common Good party.
63 Meadow Brook Road
0121 476 0789
You must be logged in to post a comment Login