Tuesday, August 18, 2009

Taxation without representation: bank money and larceny

Conall Boyle, a member in Margam, writes:

Can I draw your attention to an excellent article in an obscure place?

“The scandal of taxation without representation
George Gabriel, 12 - 08 - 2009
In a modern financial economy where private profit is founded upon and embedded in the social unit, the public must decide what value we will see it create."

The full article can be found at
http://www.opendemocracy.net/article/email/the-scandal-of-taxation-without-representation

At last! An excellent article, the first article I've seen which gets to the nub of the matter -- that we need to ‘begin to prize open a topic normally subject to the tightest of technocratic seals’: that it is fractional reserve banking which lies at the heart of the out-of-control money system. I love the description that this is 'taxation without representation', or to put it more bluntly larceny on a grand scale. No wonder they can pay such huge bonuses! They have control of our money, and can in effect make as much of it as they want.

But how did the author stumble on this great wisdom? Most of us ‘money reformers’ are people at the margins. How soon can we have street demos demanding that we get back control of our money?
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