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Posted on 01/22/2026 10:50:40 AM PST by RandFan
Reform UK leader Nigel Farage said he doesn’t like banks and will scrap interest payments British lenders receive through the Bank of England’s quantitative easing program.
The Reform Party included the proposal to end the practice of the U.K. central bank paying interest on the reserves placed with it by banks in its 2024 manifesto, which it claimed would bring in up to £40 billion for taxpayers.
“We are going to do it. Some of the banks won’t like it. Well, I don’t like the banks very much because they debanked me, didn’t they?” Farage said in an interview with Bloomberg at the World Economic Forum in Davos.
“This will be tough for banks to accept, but I am sorry, the drain on public finances is just too great. It’s not a tax. They are just not going to get free money anymore. They’ll adjust; business always does.”
The BoE currently pays interest on the bank reserves created during the post-global financial crisis quantitative easing (QE) program. That money is now largely held on deposit back at the BoE by commercial banks, which earn a risk-free return linked to the current Bank Rate.
(Excerpt) Read more at politico.eu ...
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Some really famous American got debanked and he still seems unhappy about it.
Stop banks from charging a million fees will holding our money
“Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out!”
― Andrew Jackson
Wow. Great quote!
LOVE HIM!
Didn’t he end the charter?
They found a way back in 1913. It’s very curious.
Clearly this idiot doesn’t understand the part that the banking system plays in the livelihood of the British economy. Go ahead...neuter the British banking system and see how long you have a country.
As I thought more to the story then just the headline!
They make money out of thin air ... it’s a false economy
Give that man $20.
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