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Show World Banker Makes Confession Vincent C. Vickers, one time Governor of the Bank 0 England, was repentant and made a confession before he died in 1939 of which the following is a very brief outline, and tells some of the secrets of the most l:andalous racket in the world. The banking system is actively harmful to the state. It creates poverty and unemployment and is the root cause of war. Its experts have hopelesly failed. "Sound finance" means nothing at all, and is merely a bankers slogan to disguise the injustices of the credit system. It always sees to it that the demand for credit and currency always exceeds the supply so that interest tribute may be exacted to the limit. The disastrous disast-rous boom and slump cycles are one of the greatest features of the bankers monetary system and are created so that they can grow rich on the ups and downs of trade. T ere could be great changes for the better in the health, happiness, prosperity prosper-ity and welfare of the individual, of the community and the nation if the monetary system was reformed and made to function foe the benefit of the people instead of the profit of greedy money-monopolists. - - |