Occupy London’s Bank of Ideas opens for business


Occupy London today opened up its new third space and first building the Bank of Ideas calling it ‘a public repossession’ and transformed the huge abandoned offices of investment bank UBS into a space for political discussion and debate.

At the opening on Sun Street, Hackney – one of London’s most deprived boroughs, occupiers aged 2 to 62 cut a red ribbon and launched confetti – made out of copies of the Financial Times – to cheers and applause.

Tina Rothery, a grandmother from Blackpool who has been staying at the Occupy London Stock Exchange camp at St Paul’s commented: “This is a space where everyone is welcome, a place where you can be part of making a real democracy. This is where it starts.”

Zigi, mother of two said: “I came with my children – we’re going to set up a kid’s space so they can play and be engaged and I can go to a workshop. This whole movement is about the future generation.”

As part of the new Bank of Ideas, offices and meeting rooms will be available for those that have lost their nurseries, community centres and youth clubs due to Government spending cuts. Details of upcoming Bank of Ideas’events at http://www.bankofideas.org.uk/events/.

Guests and speakers were also welcomed including Alberto Durando, Secretary of the Cleaners Branch of the IWW union who spoke about issues facing cleaners working in the City of London, such as minimum wage and unfair working conditions and called for the Occupy movement and workers to stand together.

Trader Allessio Rastani, who earlier this year sent shockwaves through the media and public by stating that “Goldman Sachs rules the world” during his provocative BBC interview on the Eurozone crisis; addressed occupiers and took questions in one of many time-tabled talks.

“Cameron and Obama are in the pockets of Goldman Sachs – otherwise why aren’t they stopping Goldman Sachs’ domination. The worse this crisis gets – the more power that Goldman Sachs and JP Morgan have,” commented Allessio. When asked by an occupier about the direction of the movement, he advised that it should focus its attention on the financial industry, rather than governments.

“The situation in the financial world is a lot worse than people think and a lot worse than is being portrayed through the media. By January the entire system is looking at collapse. American hedge funds are over exposed to European debts. I agree with the Occupy movement. It shouldn’t be branded as anti-capitalist, it is about democracy.

“Wall Street will always win. They make money by using the ignorance of normal people and relying on our irrationality. People need to take control of their money, and not rely on the advice of experts. Bonuses should be stopped period – these organisations are unethical in using tax-payers money to survive.

“Instead of watching X Factor, get involved to help change the world. You have to invest in your mind, not just invest in the markets. If you want to hurt them, read and educate yourself about how the financial markets work. When you wise up, they cannot manipulate you.”

When asked about the government guarantee on savings, Allessio said: “Technically the government say they will guarantee and honour up to £85,000. However, Moody’s have downgraded about 12 UK banks – they said that there is little hope that government can guarantee. Why would you trust the government? I don’t think any money is safe in the markets.”


15 Responses to “Occupy London’s Bank of Ideas opens for business”

  1. I’m afraid that was a bit of a misquote. I don’t think “This whole movement is about the future generation.” – I think it is about about the fight against capitalism in the hear and now. Great space though! Ziggy

  2. it’s plain.

    here is a great story from Ireland

    “”A German tourist was on holiday in Ireland and went into a hotel. He spoke to the receptionist/owner and asked to see the rooms upstairs. In return for the keys to the rooms for inspection he left a deposit of 100 euros at the reception.

    The receptionist/owner rushed off to the supermarket in order to pay food costs with the 100 euros. The owner of the supermarket went to the butchers (boucherie) in order to pay off his sausage bill with the 100 euros.

    The owner of the butchers (boucherie) had slept with a prostitute and asked for payment “on credit” because of the Economic Crisis. He went to give her the 100 euros.

    The prostitute had a debt at the hotel because of rooms she had used. She went to the hotel in order to give them the 100 euros to pay off her debt.

    The German tourist came down from the rooms upstairs and stated that he had decided not to stay in the hotel. He asked for his money back with the receptionist/owner gave him and he left.

    All the debts in the village were satisfied. There were no problems”

    Those are the secrets for reolving the whole financial problem which is currently “working” against the *best interests* of Mother Nature

    It’s very simple really


  3. Good luck guys – I hope you put the building to good use 🙂

  4. Very inspiring. Can’t wait to get down and meet you guys

  5. Do you know that no bank lends money deposited with it?

    Do you know that when a bank lends money it CREATES it out of nothing?

    Do you know that bank loans are merely pen and ink entries in the credit columns of a bank’s ledger? They have no other existence.

    Do you know that practically all the money in the community comes into circulation as a debt to the banks?

    Do you know that money loaned by a Government bank is just as much a debt to the people as if it were loaned from a private bank?

    Do you know that “fixed deposits” are a plausible screen to hide the creation of credit?

    Did it ever occur to you that the banks enjoy this unique facility of creating credit and putting the nation progressively into debt-bondage because they create FINANCIAL credit against the REAL credit created by the people?

    Do you realize that every time a Government borrows money for a public work, the people are debited with the liability (in perpetuity), but are never credited with the value of the asset?

    Do you know that every repayment of a bank loan cancels the amount of the loan out of existence?

    Do you know that Treasury Notes are Government I.O.U.’s — national pawn tickets for pledging the assets of the country to the banks for the loan of OUR OWN financial credit?

    Do you know that banks purchase bank sites, build premises, and acquire assets at no real cost whatever to themselves — by the simple process of honoring their own checks?

    You may dismiss these affirmations as “incredible”, or “absurd”, but if you will read on, each one will be proved beyond all shadow of doubt.

    Most of us have grown up with only the vaguest notions of money. We are fairly certain that it is the Government’s right to print notes and mint coins. For the rest, our knowledge is distinctly foggy.

    Most people, for example, labor under the impression that the only money in the community is notes, silver, and copper. But this is a very, very small part of the community’s money.

    In fact, notes, silver, and copper — legal tender — is used for less than five per cent of the total purchases made. Over 95 per cent of all business is done by checks.

    This check currency is really bank-created money — bank credit — but it functions exactly the same as legal tender money. Banking authorities of world-wide repute state that banks can and do create credit up to nine or ten times their cash resources.

    Banks go to great pains to perpetuate the fiction that they are merely “the custodians of their customers’ deposits” — that they lend these deposits, and that their profit consists of the difference in the rate of interest which they pay to depositors, and the interest they receive from borrowers. Such an idea is quite wrong, and it is the popular acceptance of this major monetary fallacy which gives rise to most of the false notions upon the subject of money.

    The facts about money are as follows: —

    (1) Banks do not lend money deposited with them.

    (2) Every bank loan or overdraft is a creation of entirely new money (credit), and is a clear addition to the amount of money in the community.

    (3) No depositor’s money is used when a bank lends money.

    (4) Practically all the money in the community begins its life as an interest-bearing debt to the banks.

    The technique of a bank loan

    All that a bank does in lending anybody, say $1,000, is to open an account in the borrower’s name — if he hasn’t already got an account — and write Limit: $1,000, across the top of the ledger. The borrower is now free to operate and overdraw on this account to the limit indicated.

    When the account is drawn on the check, and in turn the check is lodged in another account at the same or another bank, a “deposit” is thus created, and the supply of money increased. Thus bank loans create “deposits”, which plainly are not the source of loan money but, rather, the other way around, they are the outcome of loan.

    • thanks for listing this. where does your info come from?

      • This extract is from a booklet ” Its time they New!” – written by Colin Barclay-Smith (1955), Australia.
        There are extracts available in the Catholic Michael Journal. In the “articles” link, look for Barclay Smith. This is the only reference on line that I have found. I have an original copy which I am typing up to post on line in due course.
        You will find many other writings on this subject in the Michael Journal under Social Credit.

        Major Douglas of Canada is the most famous proponent of social credit.

        I think the term Social Credit needs to be discarded as we well know what a RED flag this is.
        My contribution to the Bank of Ideas is to re term/ brand “social credit” to a more practical and actionable “Sovereign Credit”. Sovereign Credit needs to be added to the United Nations human bill of rights, alongside right to life, religion, free speech, vote, health, education etc,etc.
        The Sovereign right to create credit must be given to the individual. Governments were felt not capable of this responsibility thus the justification of handing it to private ownership. This has now proven truly deficient if not criminal.
        So I say let us reclaim our Sovereign right and let the power to creat credit first accrue to the individual, and society by providing for our basic needs – health, shelter, education, work.

        Then to local communities
        and national government

  6. If ‘Ideas’ were indeed a currency, our governments would be bankrupt!

    That’s the problem. A complete lack of ideas, imagination and the will (or the balls) to do anything different.

  7. It seems the so called “Bank of Ideas” will not accept any ideas that do not fit within its predefined range of ideas. Anything that does not corespond to the already decided agenda is simply not allowed on this board, and the forum, where new ideas and topics could be started, has disappeared altogether.

    All in all, a lockdown by the “leaders who pretend they are not leaders”. How depresingly familiar.

    • Simon,
      I agree with you, that if this “Bank of Ideas” is going to be real and permanent then a link needs to be added to this sight for purely that purpose.

      If there is going to be any honesty to the process than input must be ongoing and flexible.
      As we move forward there will no doubt be changes in priority and one would hope that this would be a healthy thing.

      The present format will shortly discard this thread and only the occupiers of one building and its central committee with its one communique shall be the only legacy left of a movement that banked its ideas firmly in a vault.

    • Please could you explain what you mean, Simon? What ideas are not permitted in the Bank of Ideas? And what ideas are?

  8. Hi,

    You say you want to ” invest in minds”.

    I have no interest in hurting anybody, no matter how much or little money they have.
    How about everybody happy ?

    Then things will redistribute and become balanced in a natural way.

    I’m sending you this for the minds, life, being, clarity, joy and future of your children.

    There is a man called Dr John Hegelin Phd. Plenty to Google up, probably one of the most brilliant minds on Earth today.

    There is a good interview on conscioustv and much else on Youtube.
    Conscioustv is another name for your Bank.

    The people on that are interested in Enlightenment,
    or the evolution of Human Consciousness.

    Names to look for on Youtube are the enlightened sages.
    Check out these for yourself.

    and the scientist Dr John Hegelin.
    He believes we use between 5 and 10% of the brain, and this is a result of how children are educated.
    As a result,
    the frontal lobes of us all are underdeveloped.
    These are concerned with the higher functions like a conscience, creativity, will, consciousness, global awareness, original ideas, new mental software, and MEDITATION.
    so not a hope in hell of finding any solutions to anything much with that !

    In fact, there is a unifying field of still but vibrant peace that will connect everybody one day. And the side effect of this is ” good timing “… people end up in the right place at the right time for the right reason.
    The universe is in itself intrinsically intelligent.

    These enlightened sages will show people the simplicity of noticing this inside.
    Then there is no “us” and no “them” to hate.

    Check it out for yourselves.
    Maybe nirvana, allah, heaven, buddha nature and the tao are the same state….
    not god as A being,
    but Being.

    For the science of this, check the UNIFIED FIELD THEORY.
    Where Western Physics meets Consciousness.

    All the Best.

    Hegelin ran for President of the U.S.A in 2000, and gained 2 million votes.
    The message is meditation. ( Just silent awareness ).

  9. youtube
    association with truth


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