Britain’s debt crisis and why the economic illiteracy of MPs is a national security issue

A GROUP of senior MPs last week asked the government to establish a public inquiry into the nation’s £200bn household debt crisis.

The request sounds incredibly worthy, but it underlines how asleep at the wheel our legislators really are.

For the truth is that if so many MPs were not so economically illiterate they would realise there is no need for such an inquiry at all, since the cause should be obvious.

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Of course bankers don’t like Bitcoin: It’s a revolution in financial honesty and it ruins their profit model

SO JP Morgan’s CEO Jamie Dimon has told us he regards the cryptocurrency Bitcoin as a fraud, and that he will fire any of his employees who are caught trading in it.

In much the same way that turkeys would argue Christmas dinner is a terrible feast, Dimon is deriding what is actually a brilliant technological innovation that threatens to transform the banking sector for the benefit of consumers and society at large.

It could also help make the worlds of finance and public spending generally more honest and less corrupt.

Continue reading “Of course bankers don’t like Bitcoin: It’s a revolution in financial honesty and it ruins their profit model”