At least the Bank of England isn't a private bank (at least not since 1946). That is worse!

Though we are led to believe that this means things are better for us, and that money from interest bearing loans goes back to the government and not to private stockholders-- this is really just an illusion.

The bank of England is essentially little more than a regulatory body nowadays. It is directly responsible for only a tiny amount of the UK money supply. It's regulatory powers however, give it supreme control over all other commercial banks in the UK.

With this power they are able to dictate which banks will be most successful-- and of course there is no mistake in which banks they select to prosper.

These banks which are chosen, are responsible for about 97% of money creation in the UK(don't quote me on that number as my memory isn't the best-- but it's around that). They also are most definitely privately owned and have stockholders that profit from the interest on loans that they print from thin air.

What has happened here is that the Bank of England was returned to the state as a dog and pony show, whilst the power of money creation and the immense profits for stockholders that come with it, were simply passed on to a number of different big banks.

I suspect the same thing will happen in America soon, and it will appear as though Trump is shutting down the Federal Reserve and rescuing the people from financial slavery, but in reality, the power will just be shifted to JP Morgan, Bank of America, Goldman Sachs etc. The same stockholders will still be cashing in their share of trillions-- only it will appear that it is the US government who is benefiting.

I think the people nowadays are wise enough to see through this though. At least I hope.

Edit: I meant to include that the previous shareholders in the Bank of England simply acquired shares in the banks that we now see dominating the British economy.