If you haven't heard of Victoria Grant that is hardly surprising, because she is a 12 year old Canadian schoolgirl. Recently she made a speech at a political meeting in Philadelphia, delivering it from memory and to rapturous applause from an enlightened audience. The linked video
is self-explanatory. Not only that, it is simple, so simple that a 12 year old can understand it, which begs the question, why can't our overpaid economists like Richard D. Wolff
? Or the Chairman of the Federal Reserve
for that matter? Could it be because they are paid handsome salaries not to?
Although Victoria Grant is speaking from a Canadian perspective, what she says can be extrapolated to the whole world, including especially at this moment in time to Greece. So can her proposed solution, which is to take the power to create credit away from the banks and give it to responsible - and accountable - national governments where it belongs.