Only when Mark Carney, Christine Lagarde and Prince Charles start talking about the abolition of privately created debt-based money should we even begin to take them seriously. Of course such an affront to the obscenely wealthy would have seen even Prince Charles ejected from the Mansion House soiree.
Today, Ireland is under a different sort of tyranny, one imposed by the banks and the troika—the EU, ECB and IMF. The oppressors have demanded austerity and more austerity, forcing the public to pick up the tab for bills incurred by profligate private bankers.
What is certain is that the issue of public banking should be brought into the debate on the Welsh economy, as to ignore it would be to exclude a potentially democratising and sustainable banking system from the national conversation.
Dr. Ian Jenkins of Arian Cymru (Money Wales) has written two excellent articles on why Wales should have its own bank and how that might be accomplished. The shorter article is reprinted below, and the longer, more technical article is linked here.
A Welshman stood at the Golden Gate his head bowed low
He meekly asked the man of fate the way he should go
‘What have you done?’ St. Peter said ‘to gain admission here?’
‘I merely mined for coal’ he said ‘for many a year’
St. Peter opened wide the gate and softly tolled the bell
‘Come and choose your harp’ he said ‘you’ve had your share of hell.’