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Originally posted by Rockpuck
reply to post by tothetenthpower
Britain is Reserve banking as well, regulated by the Bank of England. In fact.. they just monetized an additional 50 billion pounds into the economy through quantitative easing program. The Bank of England is modeled after the US Federal Reserve.
The Bank of England (formally the Governor and Company of the Bank of England) is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world (the oldest being the Sveriges Riksbank (Bank of Sweden), established in 1668). It was established to act as the English Government's banker, and to this day it still acts as the banker for HM Government. The Bank was privately owned and operated from its foundation in 1694. It was subordinated to the Treasury after 1931 in making policy and was nationalised in 1946.