Scotland should take control of its banks

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I might not feel like writing much this morning, but I have a column in The National this morning suggesting that it is time for politicians to take on banking because it is a threat to democratic control of the economy as it is organised at present.

As I conclude there:

I believe Scotland can thrive as an independent nation. It has the resources, the ingenuity, the talent, and the appetite for building a more equal and sustainable society. But to realise that promise, its politicians must be willing to confront those who benefit from the present system, not just in Westminster, but also in the banking halls and trading rooms that hold so much power over Scottish life.

Scotland can take back control of its future. But to do so, it must take back control of its banks. They must become the servants of the Scottish people, not their masters.

Independence is about democracy, dignity, and direction. It is about deciding together what kind of country we want to be. And for that decision to mean anything, the power to create and allocate money must belong, through capital controls, to Scotland and to the people who call it home.

The whole article is behind a paywall, but I would suggest that a subscription is worth having.

And the argument holds true for the rest of the UK as well, whether as a single or multiple nations.


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