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Leading banker explains how the private banks create and destroy money

http://news.bbc.co.uk/today/hi/today/newsid_7673000/7673260.stm
The top-of-the-hour interview on TODAY this morning is essential listening for anyone wishing to understand why the current crisis requires monetary reform (http://www.jamesrobertson.com/book/monetaryreform.pdf ), in order to be truly solved. One of the world's leading bankers tells us how banks create money through lending -- and destroy it (as is happening at present) through not lending. Listen again, and goto just under 5 minutes in.
(I do hope sceptics of monetary reform will be among those who listen to this. When the bankers themselves tell you that what we are saying is true, then you really need to listen...)
 

Comments

scott redding said…
Yes, I listened to it live. The interview just afterwards, with Sarah Montague doing the questioning, was good too: on hedge funds being the villain or not.
16 October 2008 at 09:45
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