I was reading a post from Bookwormroom today, and found this incredible story about banking during the American Revolution:
In addition to the explicit rights the British once had, there was another unspoken right that developed in England, and that was the right to have money flow freely. This was separate from the mercantilist government’s interference in trade (i.e., the high taxation that led to the Tea Party) and its habit of giving monopolies to favorites. Instead, it was that the banking trade kept out of politics. That easy access to cash is part of why the British became so immensely powerful and wealthy.
This commitment to the free flow of money was so important that, during the entire eight years of the American Revolution, George Washington continued his financial life as he had always done: By keeping his money in the Bank of England. Think about that for a minute. Washington knew that the Bank of England would continue to hold his money and act on his orders. And the Bank of England felt exactly the same!
Contrast that fact with this story about the travails of Nigel Farage:
…I was recently told by my bank that it is closing all my accounts without explanation. It is impossible to function without a bank account. It should alarm everybody that a bank has the power to punish those it considers to have erred or strayed.
I wasn’t too surprised to receive a call a few weeks ago informing me that my business and personal accounts would be closed. In recent years, the same thing has happened to colleagues in Ukip and the Brexit Party, and I am well aware of the procedure. No reasons are ever given. The bank simply informs the customer that their accounts will be shuttered.
Imagine that! The very general leading the revolt against the King, could be confident that the banks of England WOULD NOT CONFISCATE HIS MONEY!
