It would be so nice if something would make sense for a change

(Headline attributed to Alice in Wonderland)


DO YOU UNDERSTAND the meaning of the expression ‘fiat money’?

ACCORDING TO THE FINANCIAL TIMES LEXICON

‘FIAT MONEY’ is paper money or coins of little or no intrinsic value in themselves and not convertible into gold or silver, but made legal tender by fiat (order) of the government. It isn’t easily obvious that the money is ISSUED by a Central Bank – in UK the Bank of England – and NOT issued by the government. Keep in mind that The Bank of England is a Corporation within the Corporation of the City of London. Corporations are created to trade and create profit for the shareholders. If they fail to create profit, sooner or later, they close.

The Bank of England creates profit by issuing paper money and charging real interest on borrowing of that money. Does that make sense to you? Of course it doesn’t and it doesn’t make sense to me, either.

What can we do about it? Not a lot. What could ‘the government’ do about it? Quite a lot. On the 7th August 1914, in order to avoid a run on the banks, the Treasury issued Treasury Notes signed by John Bradbury - a form of national credit backed by the credit of the nation. The government could do again what it did in 1914. It could again take back control of our money and issue again the equivalent of The Bradbury Pound and NOT charge interest. But it won’t.

When asked, the Treasury Select Committee said: “I appreciate you taking the time to raise your ideas for reintroducing the Bradbury Pound. However the committee has a full programme at present. We are currently conducting inquiries into Quantitative Easing and Macroprudential Tools, among other matters. As such, the Treasury Committee has no plans to look into this subject in the forseeable future.” Bless their patronizing hearts.

In other words, they will continue (to leave the government alone) to incur trillions of Pounds of national indebtedness to our Bank of England and beyond, which will enslave all future generations to the will of Corporate Central Banks while they fiddle with other matters. DOES THAT MAKE SENSE? They appreciate nothing. So, we ask, who works for whom?

Here’s a good question for you to think about. If the Bank of England works in the interest of and for the benefit of its shareholders, on whose behalf does the government work? CERTAINLY NOT YOURS OR MINE! 

For further information check www.britishconstitutiongroup.com and www.newchartistmovement.org.uk.

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