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 established in 1694 by setting up the Bank of England; see http://bit.ly/aNRGPw; it resulted in a general debt-based economy world-wide
2. the purpose of the crisis was revealed by the 10-year budget analysis and the “kink” in 2008; see http://bit.ly/aGrAbn
3. there are fundamental differences between the Bank of England’s “quantitative easing” http://bit.ly/cVPxOJ and the Treasury “printing money”: interest, aka vested interests of greed and unaccountability.
May more and more people wake up and understand
- a Nation’s money supply is fuelled from a number of sources
- central banks
- banks and other financial institutions
- a Government’s budget is only a certain share of the whole of the supply – generally around 40%
- governments issue money as Cash aka M0,
- but they “prefer” to borrow, pay interest and charge taxes – for the benefit of bank(st)ers who issue money as Credit out of thin air and charge interest for it….
Follow the money and welcome to hopefully a new level of disillusionment!
Posted in Bank of England, Cash, Central Banks, City of London Corporation, Control, Credit money, Government budgets, Interest, Interest money, Money, Money supply, National (sovereign) Governments, United Kingdom
Tagged Central Bank, Faisal Islam, Mervyn King, politics
This is an excellent article about what surrounds the Bank of England geographically in the City, published on the blog of the Tax Justice Network.
It also links to a Guardian article Labour candidates challenge City bankers’ elite that runs Square Mile.
However, let’s face it: by now procedures are more powerful than people. And all the procedures for emitting ‘money’ as Credit rather than Cash have become firmly established across all the computers of all the financial institutions…
Hence our petition continues to be important, if real change is to take place through the quality and quantity of money that circulates in the financial and real economy.