|
|  |
|
|
|
| |
| Mar 16, 2010 6:35 pm |
|
re: Economic Capture - Money Power in the World |
Thomas Holford
| |
John Stephen Veitch sayeth:
> I don't know how much if any of the propaganda about the Federal Reserve is true. I expect some of it, like being hand in glove with the government, is true. I expect connections to some secret group of people, including the Queen of England, is nonsense.
I don't know that I would agree that the connections to the Queen of England is "nonesense". At this point, I would simply say that they are "obscure" and poorly understood.
Very, very obscure.
The one square mile old "City of London" is the historic financial center for England. It is one of the major financial centers of the world.
Through a curious arrangement of "abjuration", the merchant banks of the City seem to operate outside of the regulatory governance of the British government, and hence, outside of the regulatory governance of anyone. They are, in effect, true financial buccaneers.
http://www.grin.com/e-book/33971/the-role-of-london-as-an-offshore-financial-centre-in-the-liberalisation
"This innovative way of financing, developed by the merchant banks, was only possible by the ‘abjuration’ of sovereignty by the British state. The fact that the British state placed all transactions in foreign currencies outside the oversight of British authorities – mainly exchange rate and reserve regulations – created a paradoxical situation, because as these transactions were carried out within British territorial boundaries, they were protected from regulation by any other state. In fact, this decision of the British authorities had the effect, that these transactions were outside the regulation of any state. In this way the Euromarkets created a whole new kind of money in the respect that the money was held and used outside the country where it has the status of legal tender (e.g. the United States or Switzerland) and traded in a market which exists and operates outside any national banking regulation – outside the system of state sovereignty."
What significance this has for the global financial, banking, and monetary systems (and the "Money Power") is . . . unclear. But I'm inclined to believe that it is very significant.
T. HolfordPrivate Reply to Thomas Holford (new win) |
|
| |
|
