It’s interesting to note that, despite government assurances, there seems to be no regulation of the banks as promised by the government last year…even the temporary ban on short selling was lifted a week ago!

Surely the answer to the financial crisis is relatively simple, and has been clearly stated by people far more notable than me – former presidents and Bank of England directors have repeatedly called for the power of the banks to issue debt to be curtailed (reintroduce sensible liquidity ratios) and for the governent to take control of the issue of money instead.

Why not issue a citizens income to every individual in the UK over the age of 25? This would be money (as opposed to debt) and would enable us to dismantle much of the welfare state, the asociated dependency culture, and to simplify the tax system.

In this time of calls for radical thinking, it’s quite ironic that the movers and shakers have such a strong ideological commitment to the money markets that they cannot even see that their interventions are adding fuel to the fire. The polititians continue to seek advice from the bankers, which is like asking the Horseman for advice during the Apocalypse.

On a more positive note – at least the environment will get some much needed breathing space as economies decline. Less pollution, less greenhouse gasses, a reduction in the manic rates of resource depletion…
All hope seems to lie with President Obama now. No pressure dude!