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I sincerely hope that you and all the other victims of Lloyds Banksters criminal activities get justice and compensation, although how do you put a monetary value on being driven to the depths of despair as many, including yourself, have been?

However, the best way to destroy the cancer upon society that is modern banking in the long term is a reform that many are unaware of.  Banks excessive uncontrolled lending causes boom and bust.  Bank’s lending practices have driven up house prices to such an extent that our children cannot afford to buy a home without help from the Bank of Mum and Dad.  Bankers get rich due to the fact that they enjoy one amazing and sadly little understood privilege, they can create money out of thin air.

Yes, the modern banks primary business model (apart from all the dangerous gambling with massive leverage and derivatives – weapons of mass financial destruction as Warren Buffet called them) consists of creating a commodity we all need (money) out of thin air, and renting it out to us for interest.  Otherwise know as fractional reserve banking, but these days the fraction the banks have to actually hold as their own capital assets is very small in relation to the amount of money that they can just create and loan out.

Many sensible people are now calling for monetary reform which would take this privilege away from the Banksters who would then actually have to operate in the way in which many people actually think they do already, that is attract deposits from savers which they then lend out, making their profits from the margin between the interest paid to savers and that charged to borrowers, if only this were true!  The only people who should be allowed to create money should be the Government, not the private banks.  95% of all the money in the UK is owed to a bank. This is known as a debt based money system. This means that all the interest on all this money is being syphoned off by bankers.  This is money that would otherwise be available to society as a whole.

I hope and beg you to use your high profile status and get involved in the ‘bigger picture’ efforts to curtail the power and wealth of all of these Banksters by removing the privilege they enjoy to create money.  A good place to start would be to support a pressure group operating on a shoestring budget to try and promote change and a fairer Britain.

By the way, although I have donated the £10 to them I am not involved with Positive Money, but support their ideals.

Kind regards,

Bob Thomson.