a privilege to create money and therefore profits out of nothing this privilege has been in the hands of the financial industry for a long time and didn t recent years it s been unchecked is that really such a good idea for us and for us. the big banks in particular have massively increased the money deluge in this way as a way of imposing more controls on the financial system again private banks could be deprived of the privilege of printing money developed and sound ready underfoot in switzerland. and cyrix is a popular location with banks there s an initiative here that advocates reigning in the swiss banks in future it says only the national bank should be allowed to create money not private banks anymore the initiative is fighting for pulling back money and an end to the privilege of big banks to generate an eck tronic money at
form a bank. now retired i can t say that with pride any more that casinos know i think a lot of the for michelle to speak on tape is free up money for the uk finale and the manipulation happens everywhere but i d offer a. way in the future generation of being robbed. to competing in that i.p.o. at the moment it s primarily the big banks who are pocketing the profits of this money making enterprise the swiss initiative wants these billions to benefit the country s citizens by only allowing the national bank to create money if we want to take away the rights of banks to create money but we re not taking away a line of business they ll still be allowed to lend money and manage assets and oversee financial transactions standing at the banks you get to keep all of that. they want then national bank to play a key role in the future. private
a lot of money. only short of a club which i don t think anyone will come out of this situation. unscathed we ve been living on loans that will be wealth destruction current financial system is very likely to lead to the next disaster we need a different system but it would be enough if we just return to what we had was highly regulated financial markets and the banking sector under control and whose purpose was to serve the number of government or. we have to rein in the world s financial system but exactly the opposite is happening in the united states under donald trump to make the system safer for people a system like that and visit by the swiss initiative could be one building block in particular states have to reduce their massive debts it s the only way we can curb this deluge of money and break through the spiral of loans that s also why we need international debt conferences where states mutually waive their debts it s ask the
money and an end to the privilege of big banks to generate an ectopic money at the push of a button. that you have i not having or used to be city treasurer in st gallen it was then he understood that we can t carry on with limitless loans and debts. ninety ninety percent of all our money is just numbers on a computer in a bank somewhere and the banks make this money that s what we find worrying and that s what we want to change. the all. great things have small beginnings. but members of the initiative asked trucking accord with many passes by. they distrust the financial system. and of the major banks are creating a spiral of loans and debt with them money creation. you know it s been in fine
a privilege to create money and therefore profits out of nothing this privilege has been in the hands of the financial industry for a long time and didn t recent years it s been unchecked is that really such a good idea for us. the big banks in particular have massively increased the money deluge in this way as a way of imposing more controls on the financial system again private banks could be deprived of the privilege of printing money developed and sound ready underfoot in switzerland. and syria is a popular location with banks there s an initiative here that advocates reigning in the swiss banks in future it says only the national bank should be allowed to create money not private banks anymore the initiative is fighting for fully backed