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Switch to the real world. There is a special group of people in our country. They have the immense privilege of creating, not their own valuable planning consent for building, but money. Not coins and banknotes for which goal sentences would follow, but money that starts life on bank’s computer screens and comes to us as credit for our house mortgage, car purchase, business loan, and such like.
You may have imagined that banks only lend out to the total of all the deposits of our savings. NOT TRUE. They typically multiply what they have as reserves by about 100 times so that £100 becomes £10,000, with interest flooding back to them for years. They create money from nothing and the reckless use of it brings crashes like this one. (See this BLOG for Nov 8 2008).
The democratic way is for money to be created by the Bank of England debt-free and fed out to the economy by our elected parliament. This system is possible…tell people about this…check it out on the internet.
Click here: to sign on a No 10 Petition to get this debated in April at the G20 meeting.