This was hedge fund manager Hugh Hendry on Dispatches tonight. Is he really advocating the abolishment of fractional-reserve banking, a system where banks create money out of thin air and are required to keep only a fraction of their deposits in reserve. Don’t get me wrong, I’d love to see this unbelievable scam terminated, but does Hugh Hendry understand how anti-establishment such a suggestion is?
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Judging by his designer specs, he’s probably going more for the intellectual angle I’d say. However, since he’s not from the banking community, (he’s a hedge fund manager remember) its not really revolutionary is it? More a case of saying you stick to what you do (borrow and lend money) and we’ll stick to what we do (make money out of thin air).
Hi. Is this available anywhere? Love to hear it.
I’ve uploaded H.264 version so hopefully you can view it now Conza. If not, I’ll be uploading Ogg version this evening. Thanks for letting me know.