I don’t know how long this will last — and let us hope it is indefinitely — but a certain documentary has popped up on YouTube, which you might want to watch if you missed its original run on iPlayer (which has now expired):
Toby Baxendale appears @:
50:45 (with a cameo by Douglas Carswell)
Gordon Kerr appears @:
Enjoy it while it lasts.
Has anyone seen Robert Peston’s BBC Video ‘How Banks Work’? Peston has selective amnesia when it comes to mentioning Credit Creation via Fractional Reserve. Peston merely says that Baks take deposits from savers and pay them interest, then loan out the same money at a higher interest rate to borrowers. ‘This is the conjuring trick’ he says. No mention of multiplication of savers deposits by a factor of nearly 20 fold, generating fictional money out of thin air. Kind of a big, crucial, integral part of Fractional Reserve Banking to miss out, dont you think, Robert? Can the next person who speaks with Peston on live TV or Radio please ask him why on air….
The European Central Bank has just as an insidious cartoon extolling the virtues of the ECB to smooth out the business cycle when it actually causes them in the first place. You are not for peace when you claim to cut short the wars your started in the first place.
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