Banking not part of the solution as our debt legacies are exposed

The ECB has dropped its interest rate to 0.05%. What we are witnessing is the death throes of banking as we know it.

Banking not part of the solution as our debt legacies are exposed

Every single predictor of future GDP growth since 2007 has been wildly inaccurate. Time and time again, we are told our economy and those in Europe will grow by 2% or some other figure. Invariably every time the results show an annual rate of at best 0.5% per annum.

Modern banking works on issuing credit into society as debt.

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