George Hollingbery is a UK Tory MP from Hampshire. Recently, he expressed some unusual points of view in a Portsmouth press article . 'I admit that I'm having doubts about capitalism'. Hollingbery has created and run some successful businesses, but is 'increasingly sympathetic to those who protest about capitalism and, in particular, bankers'. He is in a dilemma about banking wealth-creation compared with ordinary wealth-creation. His problem is summarised: That a banker can earn more in a single year than he was ever likely to sell one of his businesses for despite lots of hard work and providing work for others.
Amid all the anti-banker background noise very little is articulated about the banking system that enables bankers to reward themselves so grandly. The media don't know or won't tell, but it really is quite simple.
1. The private banking system has grasped for themselves the monopoly to provide the national money supply.
2. This allows bankers to create a fountain of credit for any profitable venture that they spot. As they hit the computer keyboard and create the currency for the credit a little more of the money supply is made. The banking books instantly balance (loans to match deposits) because the loan they create ends up somewhere in the banking system as a deposit.
3. Banks charge interest on the loan and so a spout of profit gushes from the original money fountain.The bank may also share in the profits of the venture they lend to. The lending that brought the world financial system to its knees was to highly speculative financial 'products' which exist mostly on computer screens and bear only a tenuous relationship to the real world.
4. In allowing bankers the privilege to make the money supply we have not said 'use this for the common good' - we have let them carry on and meanwhile buried our heads in the sand. This has caused our brains to addle.
5. Summary: Prof Richard Werner says we have never had a discussion about the privatisation of the money supply. Click on this YouTube link.
6. Un-addle the brain:Study the 6 short videos ; go to website Positive Money
7. Buy the book, The Free Lunch - Fairness with Freedom for what could happen if banking profits flowed for the good of to create The Citizen's Royalty or Dividend. Use the 'Look inside' feature: page 131.
8. Look at what George Hollingbery said about The Free Lunch when he was the key speaker at the book's launch.
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Amid all the anti-banker background noise very little is articulated about the banking system that enables bankers to reward themselves so grandly. The media don't know or won't tell, but it really is quite simple.
1. The private banking system has grasped for themselves the monopoly to provide the national money supply.
2. This allows bankers to create a fountain of credit for any profitable venture that they spot. As they hit the computer keyboard and create the currency for the credit a little more of the money supply is made. The banking books instantly balance (loans to match deposits) because the loan they create ends up somewhere in the banking system as a deposit.
3. Banks charge interest on the loan and so a spout of profit gushes from the original money fountain.The bank may also share in the profits of the venture they lend to. The lending that brought the world financial system to its knees was to highly speculative financial 'products' which exist mostly on computer screens and bear only a tenuous relationship to the real world.
4. In allowing bankers the privilege to make the money supply we have not said 'use this for the common good' - we have let them carry on and meanwhile buried our heads in the sand. This has caused our brains to addle.
5. Summary: Prof Richard Werner says we have never had a discussion about the privatisation of the money supply. Click on this YouTube link.
6. Un-addle the brain:Study the 6 short videos ; go to website Positive Money
7. Buy the book, The Free Lunch - Fairness with Freedom for what could happen if banking profits flowed for the good of to create The Citizen's Royalty or Dividend. Use the 'Look inside' feature: page 131.
8. Look at what George Hollingbery said about The Free Lunch when he was the key speaker at the book's launch.
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