We have all been hearing about the crisis in our financial industries.
But do any of us know the real facts about our money supply ?
We work hard for money.
When we have it we store it.
We hoard it and we dream of more.
Some people lie and steal for it.
Some people even kill for it.
It is paper !
On the paper read the words 'I promise to pay the bearer on demand the sum of 5, 10, 20, 50 pounds.'
It is an IOU for the amount in the GOLD reserves of the nation.
Or it USED to be.
Governments have always had to regulate their Banking system, for obvious reasons.
History has shown us there are no 'good, honest banking practices.'
Only corrupt, greedy people.
Margaret Thatcher 'deregulated' the UK banks in the early 80's.
(Multi-millionaire husband, Dennis - a Banker - was much pleased. As were the many Tory Ministers who moonlighted on the Boards of the major clearing houses.)
For deregulation read let off the leash.
Banks could now print money that was not related to the country's gold supply.
Instead, they used OUR debt to them (ie bank loans, mortgages, etc) as THEIR pot of gold.
They printed money on OUR promise to pay them back in the future !!
An IOU for an IOU !?
And it worked.
First, the Yuppie revolution.
Gambling, cough, through the shares markets.
Then the Housing bubble.
The DotCom bubble.
The War machine bubble.
First, Millions then Billions, now Trillions.
This crazy, mad system is now grinding to an end.
Thank God for that.
