IN 1937 a former director of the Bank of England, Lord Josiah Stamp, said: "The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in iniquity and born in sin. Bankers own the earth; take it away from them, but leave them with the power to create credit, and with the stroke of a pen they will create enough money to buy it back again. If you want to be slaves of the bankers,
Which in light of the current 'credit crunch' are words that echo down through the years as being most prophetic, do they not? Thus begging the question as to why successive governments over the last 28 years or so have chosen to ignore such advice,
including the current Prime Minister, who as Chancellor was more than happy to do so for seemingly political expediency and the furtherance of his own career ambitions.
But now, as the proverbial pigeons come home to roost, he seeks (as usual during a foreseeable crisis) to blame everyone else but himself.
So can a person of such 'outstanding' experience be trusted to put matters right in future?
Michael Parker, Robertshaw Crescent, Deepcar
What do you think? Add your comments below.
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