A Quote by Walter Russell Mead
The historian assesses that the investment of the wealthy classes in the Bank of England wedded them to the fate of the nation as a whole and to the maintenance of its stability.
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Housing associations have fingered the fact that they cannot use their assets as liquidity due to Bank of England rules unlike their continental equivalents. This has emerged to be one of the main bottlenecks to getting investment going in the U.K. It is a Bank of England issue.
In a global marketplace with its increased insecurities and - indeed often - volatility and instability, national economic stability is at a premium, the precondition for all we can achieve, and no nation can secure the high levels of sustainable investment it needs without both monetary and fiscal stability together.
Can we say that the constitutional monarchies in Spain, Belgium or England are democratic? Those with superior chambers like the House of Lords in England, that still represent the English feudal nobility in terms of positions above regional representatives, who are in the end the representatives supposedly elected by the population. Many mechanisms exist, but they are mechanisms to preserve the power of the wealthy classes, of the bourgeois classes that hold the power and rights above the rest of the society.
As a matter of fact 25% of our U.S. investment banking business comes out of our commercial bank. So it's a competitive advantage for both the investment bank - which gets a huge volume of business - and the commercial bank because the commercial bank can walk into a company and say, "Oh, if you need X, Y and Z in Japan or China, we can do that for you."
This is one way that wealthy Americans could really contribute. They could put hundreds of millions of dollars into the infrastructure bank, be a good investment for them, for their children, for their grandchildren, and they would directly contribute to revitalizing a big sector of middle-class wages in America and making our country more productive, so that we could create more opportunity. But I think that we could get a lot of grassroots support from, like, local chambers of commerce and other things if they understood exactly how this infrastructure bank would work.
There are only two classes in good society in England: the equestrian classes and the neurotic classes.
An investment in housing is an investment in family stability, children's success, and the economic health of our entire state.
Growth demands investment, and investment demands stability. So the more Obama stirs the pot with his proposals and potential changes, the more he retards exactly the investment he needs to get the economy moving again.
The States is run by the Federal Reserve, an institution that answers only to itself and to a few large banks. It's modelled on the Bank of England. Ben Franklin said that one of the main reasons America revolted was to get away from the Bank of England, the mother of all central banks - the most pernicious and insidious of all.
Housing traditionally is not viewed as a great investment. It takes maintenance; it depreciates. It goes out of style. All of those are problems. And there's technical progress in housing. So, new ones are better. So, why was it considered an investment? That was a fad.
The Central Bank should take into account other things as well: the stability of the bank system in the country, the increase or decrease of money supply in the economy, its influence on inflation.
The older generations are too wedded to political parties, too wedded to romantic memories of what education was like when they were kids, and too wedded to the status quo group that clings to power.
The best way that a central bank can support growth on a durable basis is to ensure inflation is low, stable - there is financial stability - and that is the role that the central bank plays.
Ecology's implications for capitalism are too momentous for the capitalist to contemplate. The plutocrats are more wedded to their wealth than to the Earth upon which they live, more concerned with the fate of their fortunes than with the fate of humanity. The present ecological crisis has been created by the few at the expense of the many.
Choicelessness brings you to the whole. Choice is always of the part, necessarily so. And then one person goes from one choice to another, becomes a driftwood - from this bank to another bank, from that bank to this bank. This is how you have been moving, down the ages, for so many lives
Our whole system of banks is a violation of every honest principle of banks. There is no honest bank but a bank of deposit. A bank that issues paper at interest is a pickpocket or a robber. But the delusion will have its course. ... An aristocracy is growing out of them that will be as fatal as the feudal barons if unchecked in time.
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