September 2007. Thousands of Northern Rock customers queue up to withdraw their cash. The company had been forced to seek emergency funding. It's the first run on a British bank in 140 years. Northern Rock had committed to asset (mortgage) purchases, but was unable to sell securitised assets to meet these obligations.
So I don't think it's a sensible way forward for us at the moment at all. It's regressive and it's certainly not fair in the terms that the government is talking about, and it's certainly not a case of "We are in this together".
Getting elected to Parliament is not the issue, it's getting the issue of money reform into the public domain so people will begin to talk about it. Safe banking - Banks should not be able to gamble with your money without your permission, so they should offer two types of account. One is a safe account, a transactions account. Put your money in there, the bank doesn't lend it, they don't put it at any risk whatsoever.
If houses were cheaper, they would be easier to build. More of them would be built. There would be less huge houses with hardly any people in them. London would not be the centre of a kind of very rich speculative orgy, where all the richest people in the world want to get a property in London, because it's seen as a great asset.
What they do is they effectively sell this central bank money to the banks and they do this by creating it out of nothing and using this money to pay for bonds, to buy bonds from the high street banks. So, the high street bank will come along with a bond, which is effectively government debt, and it will give it to the Bank of England, that in return will type some new numbers into the bank's account at the Bank of England.
And guess who took the decisions? All the people who were there in the first place. Their weapons are modern, their thinking: two thousand years out of date. Resistance to banking fiat monopoly. The way that money works and how we use it to do certain types of transactions can be really very important in terms of how, over time, it steers society in certain directions.
If you know what to do, you can make a lot of money from this. You can make a lot of money from this. Bruno, Virginia hurt somebody real bad, you oughta help her. The way in which you can look across Europe now and see that the new Prime Minister of Greece, not elected, essentially imposed, Papademos, former employee of Goldman Sachs.