[GJM] Interesting Article from the Financial Times on NorthernRock..................................................................

[Rodney Shakespeare]

Robert,
There seems to be more and more recognition (see the article) that money is created out of nothing and that interest is, or is not, imposed.

Donald Martin mentioned this at the Four Authors meeting and it seems to be true.

Rodney Shakespeare

----- Original Message ----- 
From: "robert searle" <dharao4 at yahoo.co.uk>
To: <discussion at globaljusticemovement.net>
Sent: Friday, November 02, 2007 5:21 PM
Subject: [GJM] Interesting Article from the Financial Times on NorthernRock..................................................................



--- emailThis at ft.com wrote:

> The following email has been sent to you by
> dharao4 at yahoo.co.uk
> Dear All,
> 
>       Chris Cook originally mentioned this article
> on the Gang 8 discussion group, and I think it might
> also be worthy to be examined here.
> 
> 
> R.Searle
> NORTHERN ROCK IS MAKING MONEY FOR TAXPAYERS
> By Tim CongdonPublished: November 1 2007 18:20 |
> Last updated: November 2 2007 00:02
> Government intervention in the management of
> Northern Rock is universally regarded as a stain on
> British banking and monetary policy. The Bank of
> Englandâ?Ts loan has reached nearly £23bn, which is
> about a fifth of Northern Rockâ?Ts total
> liabilities. Alistair Darling, the chancellor, has
> said he expects the bankâ?Ts directors to come up
> with proposals by February to end its reliance on
> government support.
> But what is the rush? Is there a serious threat to
> Britainâ?Ts public finances? Is a large sum of
> public money at risk?
> This article can be found at:
>
http://www.ft.com/cms/s/d65ada1e-888d-11dc-84c9-0000779fd2ac,_i_email=y.html
> "FT" and "Financial Times" are trademarks of The
> Financial Times.
> Copyright The Financial Times Ltd 2007



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