Dear Sirs,
Much has been made of late of the supposedly newly discovered quantitative easing - the process of creating money out of thin air and giving it to the banks in order for the banks to lend (ie sell) at interest to industry, entrepreneurs and small businesses at their whim.
Would it not make much more sense for the Government to create this money and lend it direct at low or no interest to the same parties thereby saving time, effort and expense?
This process was recommended by the Australian Royal Commission on Money as long ago as 1937.
Yours Sincerely, A Baron
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Dear Mr Baron
Thank you for taking the trouble to draw this point to my attention.
Stephen Timms
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