Controlling World Finances. Part Four.

The word "banks" has appeared frequently, and will continue to do so, in my blogs on World Finances and National Debt. I should make it clear that I am particularly referring to the higher echelons of management in banks and financial institutions, and not to the run of the mill bank branches and their staff carrying out the essential high street business of such banks.

I do not underestimate the problems that will be met in nationalising our banks, they will be immense but they will be no where near the size of the problems that the banks created in
assuring the World Financial Armageddon [WFA]. Perhaps the points for and against nationalising banks could be given long and wide publicity, that done a referendum should be held on a simple yes or no basis. I think it has been clearly demonstrated that many of the banks cannot be relied on to effectively manage the billions of units of currency entrusted to their care. Several knowledgeably high ranking persons have stated that there is no guarantee that the WFA will not happen again and/or that it is very difficult to enact effective legislation to control banks. It rather surprises me that banks were not nationalised long ago. If nationalised banks cannot be controlled then we are indeed doomed to return to a barter system.

On a world scale the total sum of money involved in our MPs and Lords expenses furore is completely insignificant but I think many of us became rather tired of hearing words similar to " I did not break any rules". That same explanation has been given by officials handling very large amounts of money in their care. Attempts to right the obvious wrongs, were often nullified by any move to "back date" corrective legislation, the defence offered being that it would be judged "retrospective".

I will repeat a suggestion I made after a particular case where at least four men shared many millions of pounds shortly after buying a company at a give away price. I suggested that a piece of "blanket" type legislation should be enacted that read something like, "Any person who performs any financial type transaction that is seriously detrimental to the economy of the UK, or any citizen of the UK, shall be guilty of an offence etc". Legal experts can plug any holes in that simple suggestion, the aim being to give no wriggle space for people who have clearly defied the objective of that proposed legislation. Judges will establish the boundaries for "seriously detrimental" and prescribe the penalties to be imposed.

In my opinion there could hardly be a better time than this for a "Ballot Box Revolution" to formulate a more democratic way of governing countries than by divisive party politics, and a more honest, transparent and stable way of managing and controlling each countries finances.
Thank you

Frederick W Gilling. Sunday 09 May

























In explaining the complexities of nationalising the banks the whole picture of National Debt should have been displayed and clarified. How much of it was owed and to whom was it owed. This information should be given for as many other countries as possible.