In 1694, the authors of the Bank of England Act anticipated that the power to create currency may be abused to oppress HM subjects. Hence they foresaw punishment at least for the Corporation.
What they did not foresee is the punishment of all the institutions that depend on the Bank of England.
One such institution is the London School of Economics where Her Majesty asked recently: why didn’t anybody see it coming? Well, here is an interesting answer from Thomas Palley who advocates Economics for Democratic & Open Societies.
Meanwhile we all endure this nearly 100% dependency on central bankers in general and the BoE in particular: everybody needs money that banks, under the supervision of the BoE, issue as interest-bearing credit. We need money to survive, as we don’t find our own food. We need money from jobs, but institutions and corporations are failing us, even pension funds.
Self-employment or entrepreneurship is advocated in theory but not in practice. (I write from bitter experiences.)
And thus we end up not only being oppressed by the Bank of England but by all the institutions that use Sterling to finance jobs.
And that’s when power corrupts and absolute power corrupts absolutely: in addition to bankers, lawyers, solicitors, judges, insolvency practitioners abuse the law and get away with white collar crime not only to oppress but to exploit and be violent.
Once upon a time a wise Lord said that the UK has not had a revolution because the Lords always beeing thinking long term… Well, the City has succeeded in making them disappear, too.
We can only help each other to be vigilant and supportive. Hence we started to collect “evidence of oppression” by the banking system on www.3dm1297.info.
Of course they are only symbolic and indicative of the tip of an iceberg of unprecedented economic violence and institutional injustice. But at least they are there. May they encourage others to follow suit.