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Setantii

A Question Time First

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Nice to see the blank looks across the rest of the panel when he mentioned fractional reserve banking.

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Farage has said similar things. Steve Baker, Tory MP, arranged a debate on it in the Commons . (Not many attended...)

There are a few who talk about this stuff.

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Nice to see the blank looks across the rest of the panel when he mentioned fractional reserve banking.

Yeah, Dimbleby said something like 'eh? can you explain what you mean by fractional reserve banking?' Audience had no idea what he was talking about.

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TBH, the way most people see it is like the same way you have police and a government, it is something we need enacted by a higher ( but consented to) power, money is something we need and the nice banks create it and lend it out. Will be a very long time before the masses see anything wrong with that.

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UKIP's Douglas Carswell actually mentioned that banks create credit (money) out of nothing when they lend it out - I nearly fell off my chair!

Either is credit between businesses, as per that show on TV two night ago, where the bailiffs entered that restaurant and removed the entire kitchen. Kitchen business had supplied it all (show said £70K) and business hadn't paid. Won't get anything much back for it on resale the bailiff/sheriff said except for satisfaction the non-payer hasn't got fully away with it.

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Does Carswell like hill walking?

Not sure but apparently he's a liberal democrat, as well as a Tory and a Kipper. Gads about a bit that boy.

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I was more taken with Carswell saying to HanCOCK that "it sounds as if you know the market is going to crash". When talking about RBS.

I thought exactly the same when I heard the announcement. That share wont be getting back to 50p anytime soon, or so the govt thinks.

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I think Jacob Rees Mogg has said similar but, in less evocative terms, previously.

The Tory on last night - who looked like he studied terribly hard during his A-levels - made a factually correct but naive comment regarding how many new banking licences are issued.

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Ignorance is probably a politicians best defence. Apparently Cameron was going to say in a speech that everyone should pay down credit cards for the good of the nation, but was talked out of it. That advice would actually destroy money.

Once you understand debt= money the world makes so much more sense :P

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I was more taken with Carswell saying to HanCOCK that "it sounds as if you know the market is going to crash". When talking about RBS.

Thanks for the tip off. Only just listened to this. I couldn't believe it. The squirming and attempted fudging that went on after was positively Cameronesque.

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Not a UKIP voter but Douglas Carswell is bl**dy great. Need more politicians like him and I'm actually really glad he's still in parliament.

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