Capitalism Hits the Fan: Or Was It Money?
Capitalism Hits the Fan: Or Was It Money?
While George Osborn spends his day trying to figure out how to charge more taxes for fewer public services, negotiating with banks to get them lending and twisting their arms to make them promise to pay smaller bonuses, an ex investment banker is reaching out to tens of thousands of university finance students, educating them on the one banking reform that will make George Osborns life a whole lot easier.
Entrepreneur and ex investment banker, Simon Dixon, has been campaigning and touring universities presenting on banking reform long before the words credit crisis became common talk.
As more students struggle for graduate schemes at banks and financial institutions and the recession looms further, more students are looking at Dixons message and looking to channel their efforts into reforming banking.
Causing a lot of controversy, Dixon has been raising awareness of the destructive nature of current banking practices, and how students and graduates can use their financial training to help reform banking rather than contributing to the problem.
Dixon comes from a small group of economists called monetary reformers who prior to the financial crisis were laughed at and discredited.
This small group are now being approached as genuine advisors as all banking reforms seem to have little or no effect on our ever growing economic problems and their contributions were included as part of the Independent Commission On Banking.
Governor of the Bank of England Mervyn King responded to George Osborn newest plan, Project Merlin, designed to make banks more responsible called Project Merlin.
"We've not yet solved the 'too big to fail' or, as I prefer to call it, the 'too important to fail' problem. Mervyn King, Governor Of The Bank Of England
What Mervyn King knows, that perhaps George Osborn does not, is that a banking license essentially gives a bank the ability to create money through lending and Dixon believes this to be at the route cause of all our problems.
Mervyn King recently responded to this banking practice in a recent speech in New York.
Of all the many ways of organising banking, the worst is the one we have today.
When presenting to students, Dixon points out that the only reason we consider the banks too big to fail is because they are too big to fail, as they are in charge of the creation of our countries money through lending.
If we did not rely on banks to create our countries money supply then they would be an ordinary business. What bonuses they pay their CEOs, how responsible their lending is and who they lend to, would not be of interest to us. Simon Dixon.
Dixon believes that young finance students that are struggling to get employed right now can be the catalyst for a new banking revolution and genuine change.
Helping students to become more entrepreneurial and reform banking as we know it, will solve George Osbornes more tax, fewer public services problem as well as solve Mervyn Kings too big to fail headache.
Dixon is putting his money where his mouth is, investing in new alternative banks while sparking an entrepreneurial revolution amongst finance students and campaigning for what used to be called crazy banking reforms.
His recent book Student To CEO: 97 Ways To Influence Your Way To The Top In Banking & Finance is spreading the word to young finance students and graduates not just in the UK, but now globally.
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