Amid a period of historical-worse economic crisis leaders of the major British central economic institution gather to set their actions towards the perilous event. Of the controlling elite of the semi-privately-owned Bank of England only two out of the one hundred owners of distributed shares are known. First the central character Governor Mervyn King – a man of great pessimism in search of growing power. The second owner is the discrete Bank’s secretary John Footman. The remaining ninety-eight owners are protected from identification by a specially created legislation Companies Act in 1976 and join “To act as Nominee […] or any person or persons, partnership, company, corporation, government, state, organisation, sovereign, province, authority, or public body, or any group or association of them….”
ACT I – Set up for an alternative
The Tea Party scene opens with six seats around a table. Mervyn King the only known personality on the table sits at the end of the table as Chairman of the Collective gathering. The Co-Operative by its existence criticises the current method of control over the bank ruled solely by an elitist system. The Co-Operative is a re-appropriation of Ayn Rand’s group proposing an individualistic self-centred method of steering the national economy. Instead the new organization is accessible to whoever is interested by the purchase of a share – an object allowing each to have a degree of influence in the politics of the Central Bank.
Therefore, if one wishes a higher level of control over the institution the co-operative system encourages individuals to congregate their object-shares. Largest congregations will be able to strenuously propound an alternative politic of governance over the country especially during strained moments of economic loss of confidence.
Enters Mervyn King. A contemporary Macbethian man searching in desperation for power.
Heading the Tea Party is Sir Mervyn King. He is the representative of the Bank so the main point of interlocution between a defensive institution and a population manipulated to trust in the national economy in order to spend more. Mervyn King is a man too small to cope with the size of his ambitions. As head of the Central Bank he guides the national economy towards diffidence as he renewably expresses an extreme pessimism towards the near future of the state of the UK and risks led by a possible explosion of the European Union monetary system.
As the Bank of England was becoming extremely independent from the country the Co-Operation can now frame comments published by the Governor. Sir King is no longer leading to a negative spiral but steer to push individuals to trust in the British economic organization.
ACT II – the Co-Operative
The misty existence of the Bank of England’s near-allegorical privatized subsidiary Bank Of England Nominee Limited (BOEN) controls the institutions in a hermetic manner cutting links from most of Governmental inputs.
The Co-Operative emerges from the elusive existence of Bank of England’s subsidiary, the Bank of England Nominee Limited whose functions and owners remain concealed to the population. The central bank is an extremely opaque organisation keeping activities oriented towards its personal interests. It utilizes periods of wars and crises to grow in size hence gaining power. Historically it has served as a barometer of major conflicts in series of accretions sprouting in the centre of the City of London Corporation.
Instead of holding onto a system favouring the elite of the country the Party comes up with a softer and more comprehensive sociable approach to a democratic nation. Therefore, the share-objects presented on the British table are of several degrees of criticism on the British economy related matters. Those objects range from sole representative states to smart presences aware not only of their relation to the Bank but also broadly to their proximity between one another. Working as the possibility of interactivity between objects is the server, a storage device within its vaults, the Bank of England. It no longer works as a centralized entity but more as a dynamic hub pushing for a democratization of a national symbol through the domestication of values it represents.
ACT III – the Public as part of the Co-Operative
The Public enters the Stage and takes place on available seats for the Tea Party.
The Party is set up for a rejection of imported American values of individualistic approaches towards the procedures of the British economy. The American Federal Reserve is an extreme version of the Bank of England. It has pushed the Capitalist idea to its boundary by the mandatory ownership of commercial banks in the Federal Reserve with a system of shares. Ayn Rand’s scenario of a society prone to indulge the selfishness of people to pursue personal benefits has proven to lead to a polarized economic system. Instead we are incredibly sociable being creating vast networks of interconnectivity to socially reconnect. The object-shares do not only play a role of sole item but claim their relations to their peers. The offer the possibility of peer-to-peer networks reuniting a top-down elitist economy for a system based on the collective individual.
The Public takes place on one of the Tea Party seats to reclaim its right of opinion in the central banking system. What is the Central Bank’s opinion towards commercial banks it funds? Should it take measures to regulate them? The Public has the possibility of penetrating and understanding an opaque hegemonic organization by taking possession of a share. The organization is prone to freewill. The individual only participates to the Party if he or she desires so. With strategic movement of object-shares one can augment one’s level of control of ownership by conglomerating with other objects. The active participation is surpassing diffidence of to connect individuals to the governing economic politics.