Mervyn King: prevent fractional reserve banking to address the divergence between private benefits and social costs

On Monday, 25 October 2010, Mervyn King, the Governor of the Bank of England, gave this 25-page speech in New York City, at The Buttonwood Gathering: Fixing Finance. This Gathering was organised by The Economist and cost $3,495. The speech covered: Introduction – the importance of a resilient and robust banking system The practice of [...]

Mervyn King’s view on ‘the new politics’

This blog entry by Channel 4 economics editor Faisal Islam indicates how the Bank of England pulls the real financial strings behind the political scene and how the City of London runs Westminster and thus the country, not to say the world. If only it was common knowledge that 1. the first national debt was [...]