Bank on change

Share this article
Have your say

Alex Salmond ignores the 
opportunity that independence could provide for Scotland to be free of the power of the London-based banking system, that creates the money supply as debt, entirely for its own benefit.

A good example would be the £375 billion of quantitative easing the government tried to pump into the economy – via that banking system –- to ease the recession. This huge sum represents £6,000 for every person in the UK, and would have had a noticeable effect had it actually gone into the economy as intended. But the bankers used it themselves, causing an artificial rise in the stock market during a recession because of their self-fulfilling bets on market movements and other casino-style trading, which brought no benefit to anybody but them.

Westminster would be doing Scotland a favour by refusing the use of sterling, thus compelling Scotland to create and issue its own debt-free currency. This would eliminate the distortions caused by banks creating the money supply as debt, in any quantity they may decide, and for any purpose they may decide, thereby actually controlling the economy themselves. To be rid of that crazy situation really would create a better future for Scotland.

Malcolm Parkin

Gamekeepers Road

Kinnesswood, Kinross