Letters: Government should get real with money

It is not just the ordinary citizen who borrows money from the banks.

The government does the same. In each case this money has to be repaid to the banks, who did not lend it from deposits or assets, but create it by means of an electronic book-keeping entry.

In plain terms, the money supply of Britain is electronically created by the banks, with only 3 per cent being real, paper money.

This was an outrage when the banks were privately owned, but now they are mostly owned by the taxpayer, it is a cruel farce.

Government should issue its own real money, interest free, in a quantity that relates to the economic prosperity and assets of the country. Only by this means can we be rid of this burden of debt that maims the economy before it can create anything useful.

MALCOLM PARKIN

Gamekeepers Road

Kinnesswood, Kinross