Letter: Central bank sins

Allan Hinnrichs says Vince Cable "would not dare go along to the CBI and tell them that it was the laissez-faire policies of light regulation and excessive bonuses which plunged the country into this economic crisis" (Letters, June 7).

Mr Cable would be right not to do so, since it was the intervention in the money supply, by means of the central bank known as the Bank of England, that is to blame. Central banks represent a nationalisation of the money supply and are a key plank of the communist manifesto.

Their sole function is to expand the currency and fund big government, and that is precisely what they have done since they were created.

Far from being laissez-faire, the previous government relentlessly and greedily raised taxes and regulation and it is this policy which is preventing the economy from recovering from recession.

Bruce Crichton

Victoria Road

Falkirk