As you can see, some of my Cobden Centre colleagues in finance are not afraid to call the banking system a “vampire squid”.

And then along came this video as part of a campaign for bank reform:

Happily, as a Director of The Cobden Centre, I am ahead of this particular curve. As I set out in this polemic, the problem with banking is that it isn’t capitalist. It is a centrally-planned, legally-privileged cartel based on a government monopoly and the socialisation of risk.

I don’t agree with the authors of the video on many things, but doubtless it will be a good campaigning tool for them.

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