Money Creation

Grim Fairy Tales and Hard Times

That opportunity for change it seems has passed. In the years before the crash the City insisted on light touch regulation and governments obliged. The whip was in the claw of the Golden Goose and the City’s importance to the UK economy was its shiny golden egg nesting at the centre of the European money markets. When the egg went rotten our governments should/could have acted. At that moment there was a perfect moment for democratically elected leaders to act, to take back the power and to regulate the banks. Instead they dithered and in a perverse turn around our governments now have had to come to heal.