Bankers are the dictators of the West, according to The Independent, 10th December
The protest movements are indeed against Big Business – a perfectly justified cause – and against “governments”. What they have really divined, however, albeit a bit late in the day, is that they have for decades bought into a fraudulent democracy: they dutifully vote for political parties – which then hand their democratic mandate and people’s power to the banks and the derivative traders and the rating agencies, all three backed up by the slovenly and dishonest coterie of “experts” from America’s top universities and “think tanks”, who maintain the fiction that this is a crisis of globalisation rather than a massive financial con trick foisted on the voters…
But, forgive me, who are these creatures whose ratings agencies now put more fear into the French than Rommel did in 1940?
Why don’t my journalist mates in Wall Street tell me? How come the BBC and CNN and – oh, dear, even al-Jazeera – treat these criminal communities as unquestionable institutions of power?
The Irish Taoiseach, Enda Kenny, solemnly informed his people this week that they were not responsible for the crisis in which they found themselves. They already knew that, of course. What he did not tell them was who was to blame. Isn’t it time he and his fellow EU prime ministers did tell us? And our reporters, too?
You can read the whole article here.
Many people are angry at the banks, or individual bankers. But the truth is that it is the government who sets that ‘rules of play’, and successive governments have failed to reform the banking system at the right time.
The key flaw in our current banking system is that almost all money is now created by private banks as debt.
Money must become a constitutional creation for the public good and no longer a privilege which our politicians have given to private banks.
Instead, after every crisis, the government and authorities focus on getting back to business as usual. They focus on ‘getting banks lending again’ without questioning why we are all so dependent on bank debt to keep the economy functioning.
So we should blame all those successive governments who have repeatedly failed to fix the banking system, but the pressing concern is to do something about it.
And we also need to make sure that they don’t make the same mistake again. We need to make sure everyone understands how the banking system really works, how money is created, and how we can fix the system.