As Henry Ford is said to have remarked, it's as well that people don't understand our banking and monetary system, "for if they did, I believe there would be a revolution before tomorrow morning". From Gramsci to Chomsky, we know that language controls thought, and that those thoughts can produce misconceptions that fundamentally mislead our grasp of what is actually happening.

When banks claim to have made a "transfer" of their funds to your account, or to hold your "deposit" in theirs, they play into a "common sense" understanding of their role as simply acting as an intermediary between borrowers and savers. But these are "convenient untruths" as far as the bankers are concerned. Maybe they fear that revolution. Maybe our role is to offer a counter-language, closer to the true situation.

There is a lot to think and talk about here. Why not join in the discussion? But watch your language!

As usual, we'll be meeting in the upper room of the Prince of Greenwich pub.

Best wishes,

- Mike and Tim