By Stephen Goodson. As the financial crisis worsens in America and across the globe, people want to know: “When did it all start”? In fact, the privately owned Federal Reserve Bank in the United States is a spinoff of the Bank of England, established in the 1694.
And, as the earl of Anglesey presciently observed in 1658: “It is dangerous to the peace of the kingdom when it shall be in the power of half a dozen or half a score of rich, discontented or factious persons to make [an accumulation] of our own coin and bullion beyond the seas and leave us in want of money when it shall not be in the king’s power to prevent it.” [Read the entire article as PDF…]
The Barnes Review, September/October 2012: Secret Origins of the Bank of England