Treasury Spreads Misinformation

“Has anyone asked the Government why they allow banks to rob us? If so, what was their answers?” …somebody asked on Facebook recently.

Yes, some of our supporters are trying to get the answers from the government. Many write to their MPs and few MPs do indeed investigate further, writing to the Treasury.

And what do they get as an answer?

So far, the answers were always misleading. We’ve seen many letters like this one below, where the Minister Mark Hoban claims:

“The banks can’t create money, they can only extend credit.”

So, if you didn’t know until today, now you know it:

The money in your bank account IS NOT MONEY at all!

…according to the Treasury!

Despite the fact that they themselves accept the payments of taxes with these numbers…

Despite numerous clear statements in the Bank of England’s documents that confirm that:

The money-creating sector in the United Kingdom consists of resident banks (including the Bank of England) and building societies.

Everyone I know considers the numbers in his bank account to be money. After all, we can pay for everything with these numbers. But apparently, the Treasury doesn’t.

The Treasury keeps spreading these misleading information guiding people to believe that the claims that banks can create money are pure myths.

And what does an MP do, when he receives a letter like this? Does he have time to investigate further? The Treasury wrote clearly that the statement that banks create money is not true… Why wouldn’t he trust such an institution? They must know better, right? Obviously, he has hundreds of other things to do rather then researching what possibly could the Treasury mean by the words “they only extend credit”.

So, yes, this is the situation that we still are in today.

Victoria Grant, 12, became an overnight Internet sensation after a video of her slamming Canada’s banks and the government for robbing the people, went viral.

But, fortunately more and more people (and even children) are discovering the flaws in our banking system.

And with your help it will not take much longer until the true causes of our crisis, indebtness, poverty and inequality will be obvious to a critical mass of people.