Category Archives: Regulation

To rob a country, own a bank

The Best Way to Rob a Bank is to Own OneFormer bank regulator and lawyer Prof. William K Black, author of The best way to rob a bank is to own one speaks on this video about the systematic fraud that has been going on in the US.

Big differences to the UK? After all, former Chairman of the Treasury Select Committee John McFall is “set to become director of new bank”


The Rule of Law and the Rule of Money

I have often felt that I learned more about our money system than I ever wanted to learn. But there are people in our society who had to learn more about The Law than they ever wanted to learn. And that is because they’ve been hurt, damaged, harassed, defrauded, tortured, bankrupted, dispossessed, you name it, it’s happened to them.

What voice do they have on their own? Where can they go when they find out that their MP is “part of the gang”?

Our meetings were attended by many such “victims turned starfighters”, and with the new government, we have hope that we can usurp the Rule of Money and let the Rule of Law re-enter. But it’s going to be a long journey!

First steps were

  • a letter to Dr. Vince Cable MP in his new capacity as Secretary of State where we believe he is responsible for the Insolvency Register; it includes at least four fraudulent cases and we ask him to make amends
  • a letter to the Lord Chancellor Kenneth Clarke QC MP whom we ask to ensure that Her Majesty’s Seal is not going to be abused any more as in the four cases cites
  • an article on The Rule of Law and the Rule of Money in the new BlogPaper that publishes in print, if an article is read by more than 100 people and voted into print by at least five. It would be nice if you could register and vote to get the article into print!

And thus we hope that the new Government’s promises can be taken seriously:

  • fairness in the justice system
  • greater support and protection for the victims of crime.

Of course, so far, it is assumed that offenders are not among the judiciary. But the older we become the more we become disillusioned and see the emperor’s clothes for what they are…

If we had Honest Money, we would have honest bankers.

If we didn’t have Dishonest Money, we would have honest politicians.

Meanwhile, we have to live with our creativity and conscience, to survive in a system that is rotten to its core.

EDM 1297: the outcome of our last meeting,

Early Day Motion 1297 was tabled by Austin Mitchell MP on April 20th and has been signed by twelve other MPs.

It advocates the enforcement of the Bank of England Act 1694 and thus puts the finger on the button of the banking system and its supervisory institution: the Bank of England.

The outcome of our Forum meeting on June 23rd was this new site that gathers complaints with a view to changing the law via Parliament as the highest Court in the Land.

Here are the statements made on the day:

Austin Mitchell MP, Chairman of the Forum for Stable Currencies, next to Brad Meyer who prepared and facilitated the meeting

Roger Lawson, Communications Director, UK Shareholders Association

Eva Adshead who made Case Law as a Victim of RBS and the Legal Aid Board.

Enforcement of Bank of England Act 1694

This Early Day Motion was tabled by our Austin Mitchell MP on April 20, 2009:

David Taylor MP tries to turn its message into an Amendment to the Budget.

I had sent the Act to HM Queen who sent it to Downing Street, who sent it to the Treasury which has not responded yet. But, for the first time in her reign, HM Queen has seen the Governor of the Bank of England!

That this House, observing that the intention of the founding Act of the Bank of England in 1694 was `that their Majesties’ subjects may not be oppressed by the said corporation’, notes that those subjects have been seriously oppressed by the Bank’s failure to control the greed, risk-taking and speculation of the banking system over which it presides; and therefore suggests that this oppression should be dealt with as the Act provides by fines three times the value of the abusive trading.

The first MPs have signed. Will you get your MP to sign via WriteToThem?

In our observation, oppressions through banks are due to:

1. There is now only a limited number of qualified staff in every branch. In fact, what used to be professional training for a professional body, ACIB, has become a “School of Finance“.

2. The training in “banking” is limited. It consists only of “sales”.

3. There is now little responsibility in local branches.

4. Instead, all decision making has been centralised. This results in the decision makers having little personal knowledge of the client or a perspective about a business.

5. There is little comprehension of day-to-day business issues.

6. There is no realisation of the criticality of time or expediency.

7. There is limited knowledge of supposed Government support. As an example, the Small Firms Loan Guarantee Scheme (SFLGS) was reducing before the crisis.

8. Instead of joined-up thinking, staff are only box tickers and have no room for initiative.

9. MPs have very limited knowledge of the depth of the problems, even before the crisis.

10. Day-to-day business borrowing for “normal” clients has never been excessive. In fact, it was already very restrictive to Small and Medium Enterprises (SMEs) and often even obstructive.