i am calling for a revolution, page-3

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    Now it seems Lloyds is in trouble.
    The problem in the world economy does not come down to $900 cheques. It comes down to peoples life savings and jobs being wiped out by the inability or unwillingness of current banks to extend credit.

    Governments are running out of time to act.

    Government run Interim National Banks need to be set up by every country. They will need taxpayer funding equivalent to the loans on the private banks books. This will have to be created temporarily by governments and backed by future taxes.

    These INB's should be given a temporary life of seven years and serve as bridging financiers for companies requiring
    refinancing or fresh debt facilities.

    Governments must stop pumping public cash into private banks. If they have done their dough, they must fail.

    The governments should immediately begin drawing up new national and international banking regulatory frameworks and legislating them. Private bankers should only be invited as participants, and not as advisors.

    When a new regulated banking framework is established franchises should be offered to any who can qualify, including existing banks.

    The bridging loans will be purchased and distributed pro-rata into syndicates owned by the new bank franchisees, whereupon the INB's can be shut down and the temporary public debt extinguished.

    This re-privatises the banking system which is a requirement in any capitalist democracy.

 
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