William Bramley/The Gods of Eden/23/229/1

The Bank of England has been labeled by some economists the "Mother of Central Banks." It became the model for all central banks which followed it, including the central banks of today. Under the Bank of England scheme, the central bank was to be the nation's primary bank, and it would lend exclusively to the national government. The central bank's entire purpose was to put the government into debt and to be the government's major creditor. The central bank's notes would be lent to the government and those notes would then circulate as a national currency. This would cause the nation and its people to rely on those notes as money. The establishment of the Bank of England caused Britain to go deeply into debt to a monetary elite (the "paper aristocracy") which could then influence the use of the nation's resources. This is the modus operandi of every central bank today.