Start with this article and read the comments as well. You did take notice that the Bank of England is a private company, owned by private individuals, not the State, didn't you? BOEN, Bank of England Nominees, a private company.Originally Posted by Baron von Lotsov
That meeting, the ESM and the Crown – why Cameron said NO | PJC Journal – IanPJ on Politics
There are quite a few 'I believe's in that page. Anyhow the Federal Reserve is also a private concern. The financial markets are far better off being run under capitalist principles. You will find the private market decides quite a lot in the City, and so it should. It's a complex subject and I don't claim to be any kind of expert. Sometime though people take things too literally when the truth is there are a lot of different forces at work, which includes the elected government as well of course.
One fact you can't deny though is that whoever earns the money, the effect of it is that it creates a lot of jobs, and even if the owner of a bank is very rich they will tend to spend their money and then that creates a load more jobs, e.g. jobs building their various mansions etc. Why it is also important is that it is needed to balance up our trade with other nations. For every computer we buy that is made in China we have to sell them something in return or else things screw up. Things are very imbalanced as they are at the moment, but without financial services it would be far worse. Give them some credit though. They have increased the size of their industry under a Labour government, and that is no small feat!
Capitalist Class Hero
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