Creating cash should not be the responsibility of the private banking system, but of the common wealth. Let's get mutual. As the financial vortex sucks down HBOS and Bradford & Bingley, many ask, 'Where is a safe haven for our savings?' Trust betweenbanks has disappeared and they will no longer lend to each other as the credit crunch bites. Ann Pettifor, executive director of Advocacy International, guesstimates there is a 17.5 trillion dollar tottering tower of unsecured, dodgy debt, and that the 700 dollar bn bailout for US toxic debt agreed by Congress on 3 October may not halt 'debtonation'. While hoping such measures work, how can the crisis also be used to reclaim banking and money for people and society?
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