Today’s banking system should be overhauled
Editor, As a consequence of the credit crunch, which has destroyed the lives and living standards of so many, in addition to the economies of numerous countries around the world, the governments of the world should revoke the licences of commercial banks and in effect nationalise them!
Friday, December 11, 2009
Editor,
As a consequence of the credit crunch, which has destroyed the lives and living standards of so many, in addition to the economies of numerous countries around the world, the governments of the world should revoke the licences of commercial banks and in effect nationalise them!
In their place should simply be a central bank acting in the interest of a nation and their citizens.
Such a bank would act not for profit given that money should simply be a means of exchange for the purchase of goods and services which add real value to any economy. This would result in a more fair, just and equitable society for all.
Ryan Kell.