That was Nick Griffin MEP’s message to a plenary session of the European Parliament on Wednesday morning. Addressing the debate on Economic Governance, Mr Griffin said that the fiat money banking system makes banksters masters of the universe instead of the servants of productive industry. 

The North West MEP explained that the first step to long-term economic stability is to put an end to the international bankers’ swindle and restore the power to create credit to sovereign national governments.

The video and full transcript of the speech are below.

Mr President, when there is a stench of death and decay in your house, there is no point complaining about the neighbour’s drains or arguing about which air freshener to try next. The first thing to do is to admit that the real problem is the rotting corpse of the dead elephant in the living room.

It is absurd to speak of economic governance while ignoring the root cause of the debt crisis that is dragging Europe, and indeed the world, down to economic disaster.

The thing that is rotten is the fiat money banking system. A system that allows the banks to create credit out of nothing and lend it into circulation as interest-bearing debt; a system that makes bankers the masters of the universe, instead of the servants of productive industry. A system that leads to poverty, division and war.

The first step to long-term economic stability is to put an end to the international bankers’ swindle and restore the power to create credit to sovereign national governments. This is the only way out of the crisis; the way to prosperity and peace.”