|
|
What are your views on the single European Currency.
Should Britain give up the pound and join the
Euro?
The key
question is not so much what a currency is called, but who controls
its issue. Theoretically, moving from the pound to the Euro would
mean that key decisions affecting the currency are taken in Brussels
rather than in London, and that the factors taken into account are
not specific to the UK economy. However, the control our elected
parliament has over the pound at present is almost nil. The
government has abdicated the setting of interest rates to the Bank
of England, and the Bank of England is not in any way controlled by
parliament, nor is it accountable to the British people. The bulk of
our money supply is created by private banks as a debt, and the
interest on that debt (the national debt) is collected via taxation,
making for ever higher taxes with ever lower returns to the people
as far as benefits and services are concerned.
Rather than getting caught up in the debate about the
pound or the Euro, we should demand a currency issued and backed
by the government at no charge to the people. There is no
reason why the government cannot create its own money supply rather than
having to pay the penalty of allowing banks to create it on
its behalf. An interest-free pound issued and backed by the government
and not manipulated in the interests of bankers and speculators would indeed
be a pound worth fighting for.
See also the following article on this site:
The Truth About Money
|
|