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Bank of England Director Validates Occupy Movement Actions

According to the BBC and The Guardian, Andrew Haldane the Bank of England’s Executive Director for Financial Stability, during a speech given to Occupy Economics, an offshoot of the Occupy movement said “the Occupy Movement was correct in its attack on the international financial system.” and that “Occupy has been successful in its efforts to popularise the problems of the global financial system for one very simple reason; they are right”.

Occupy encourages financial reform

According to some in Financial Management Occupy got it right.

Even though Mr Haldane who is a member of the Bank of England’s financial policy committee also said that “the protesters who occupied St Paul’s Cathedral were both morally and intellectually right” also mentioned in the same breath that the protesters were “anti-capitalist”, which happens to be true and untrue at the same time, rarely are things so black & white. His label suggests that the Occupy protesters might wish to destroy civilization and throw society back to the stone age. A few talking points of what they were saying is that there is a serious problem with corporations always putting profits ahead of the interests of people or society, that those profit interests have corrupted the political process, that the current central banking financial system based on fractional currency and manufactured debt contributes to inequality among other issues.

Mr Haldane concluded by telling the activists that they had perhaps helped bring about nothing less than a new financial order. “If I am right and a new leaf is being turned, then Occupy will have played a key role in this fledgling financial reformation,” he said. “You have put the arguments. You have helped win the debate.”

It’s nice that Mr Haldane might be at least be stating that he agrees with the Occupy Movement, but he may be failing to realize is that the Occupy Movement is part of a global justice movement that does want to reorganize the basic power structure to one that is more aligned via authentic democratic bottom up, not trickle down principles. Other ideas presented by the Occupy Movement: Sovereign Governments elected by the people not the Central Banks should have the power to create money. Tax Havens should report assets held or be closed and banks should only be able to lend what they have in reserve and no more.

Occupy Protests in London

Occupy Protests in London

The activists remained at St Paul’s tying to get their message heard, until the Corporation of London won a legal order to have them evicted. Also there has been no high level representative counterpart from the US Financial system to step forward and validate the demands of the Occupy Protesters. The eviction from St Paul’s Cathedral was not the end of the Occupy Movement in London, you can read about current activities via occupylondon.org.uk and Facebook.

The Guardian ran a poll (October 30, 2012) asking “Do you agree with Haldane that Occupy was right?” RESULTS: 86% responded YES, Occupy was right and 14% responded NO.

A few videos about the Occupy Movement in London at St Paul’s Cathedral:

Occupy London (Occupy LSX) – St Pauls 15 October 2011

Occupy London protest: on the steps of St Paul’s cathedral

A Walk Around The Occupy London Protest Camp at St.Paul’s

Occupy London website: occupylondon.org.uk


Green-Eco-EV News Reporting by Ken Green Burridge

kenneth green burridge

Kenneth Burridge test-drives electric Nissan LEAF in Melbourne Australia

EV of the Year Judge, independent green journalist, photographer, author and sustainability activist that has published over 1000 articles. Mr Burridge’s travels have taken him to over 30 countries and 300+ major cities. He is originally from the USA, but has been residing in Australia for the last seven years. Connect to Ken Burridge on: Twitter, facebook, Google+Linked in or website