The countries with trade deficits have been spending more than they've been earning so they've had to borrow from abroad, and they've been doing this year after year.
List of links to sources

So I really do get a laugh out of watching what people are actually saying.

They are all just regurgitating what they have learned off each other you just hear the same thing and it just really gets on my nerves when I hear people talking about, Yeah, we need more regulations, we need to regulate the way banks are... and the bonuses....

It's all just one big smoke screen and working on all the symptoms of a greater disease which is really, you need to look at the money system, the way money is created.

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Shifting commercial bank money to these institutions will reduce the monopolistic grip of the big 5 banks. Taiwanese animated news: Christian has declared November 5th as Bank Transfer Day. On that day, bank customers vow to close their accounts and deposit the funds with credit unions.

This kind of model doesn't make any sense either from an orthodox free-market perspective, because these banks are monopolists: effectively they monopolise credit creation, so they don't obey the rules of any free-market discipline.

Pagination:

1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 7, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40

The five major banks - RBS, Lloyds, HSBC, Barclays and Santander - hold over 85% of all deposits

The math that's inside of them is complete nonsense it turns out. There's far more risk attached to trying to securitise risk and securitise debt in the way that we have done this than we thought, and we now think these things are now worthless!

Did they get their gold back? Go on, guess! They didn't. And the Bretton Woods system came to an end. And this is the point at which we enter the modern era of the financial system. Fiat money: A medium of exchange, which the issuer does not promise to redeem in a commodity, and is based on confidence. Historically, money creation was pegged to a commodity, often gold but today it is pegged to nothing.

The government would no longer be able to get access to large sums of money to pursue armed conflict, if this was not sanctioned by the populace.

Other currencies, other currencies. The reserve currency needs to be spent in the country of origin or exchanged into other currencies. Most foreign banks do not have deposit-taking accounts outside of their national borders, and as such the foreign reserves they hold do not come back to them in the form of deposits.

Which means there is nothing backing our money. This piece of paper is just a piece of paper. Where does this leave us? If money is based on nothing, why do we think it has any value?

The countries with trade deficits have been spending more than they've been earning so they've had to borrow from abroad, and they've been doing this year after year. List of links to sources

List of sources:

The five major banks - RBS, Lloyds, HSBC, Barclays and Santander - hold over 85% of all deposits

The government would no longer be able to get access to large sums of money to pursue armed conflict, if this was not sanctioned by the populace.

The countries with trade deficits have been spending more than they've been earning so they've had to borrow from abroad, and they've been doing this year after year.
List of links to sources