The domination of banks (UK edition)

 

Central banks have been handed independence and used it to become the unaccountable core of the system. This is what banking tyranny looks like , the literally domination of power by the banking elites taken to the point the country literally collapses . Liz Truss is right: they have grown megalomaniacal. The governor of the Bank of England can’t be sacked; a prime minister can. That is not a technical detail. It is the actual power arrangement. The mechanism and motivation is financialisation. It’s the core purpose of banking and in its current form it threatens the states existence . Basel rules force banks to hold far more capital against a factory loan than against a mortgage. Inflation targets treat rising house and land prices as “asset transfers,” not inflation, so rates never cool the boom. Credit is therefore created against the existing housing stock and financial assets, the renter class, while industrial capacity is starved. Bankers literally live in ivory towers so they don’t notice till late in the cycle . Workers’ wages are financialised into rents, mortgages and debt service. The West has been deindustrialised to the point it can no longer make what it needs. Bankers add no productive capacity to the society at all other than pulling forward production or asset inflation through debt . This is the Tindale Trap conceit : maintaining financial dominance together with a material conversion failure. This bifurcation literally leaves the state with no productive capacity to to maintain sovereign existence . Like draining blood you eventually get to weak to respond . Truss tried a growth agenda that cut against the orthodoxy. The Bank’s timing of gilt sales, the LDI structures it regulated, and the narrative that followed removed her. Independence was sold as insulation from politics. It has instead insulated a credit-allocation regime that privileges financialisation over production and protects itself against elected challenge. The direction of credit is the mechanism, and the political outcome is exactly what Truss is pointing to. We live under a global banking dictatorship

— 🇦🇺Craig Tindale (@ctindale) October 29, 2026