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Mark Hofman

Opinion: Do Banks Rule the World?

By Mark Hofman | Sun 20th November 2011 - 2:05 pm

Last week many of us may have witnessed the sickening spectacle of watching a city trader declaring that Goldman Sachs rules the world… among other insights, such as how he lays awake at night fantasising about another economic depression.

If money rules the world, then surely whoever rules the world controls the money supply?

Many of us would, therefore, assume that the Bank of England creates money and regulates its supply to the economy, thereby controlling inflation and interest rates. However, whenever we look to finance a house, car, business project, etc, we invariably turn to the banks (in the …

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    Excellent piece, Josh. As for seeking others' thoughts on the pitch, here are mine: Labour and the Greens want to do things for you, the Conservatives and R...
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