Britain is broke...
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max_tranmere
- Posts: 4734
- Joined: Fri Jul 14, 2017 2:40 am
Britain is broke...
Apparently the last time Britain was short of money, which was when John Major was PM, we were borrowing ?1b a week from the IMF, or roughly ?4b a month. I saw on the news that we borrowed ?16b during the month of August, so the country's finances and now in a four-times worse state than they were in the 1990's. Tax receipts are down and spending is up - mainly on things like those 2 stupid wars that Blair took us into. It wont be long until the country is one trillion pounds in debt. This is alarming, and I fear that we will soon go from being in a recession to being in a depression. What do others think the future will be like if we carry on at this rate?
Re: Britain is broke...
It's not just in the realm of conspiracy theory that central banks are considered to be at the root of national impoverishment.
Until 1945, the Bank of England was - just as the Federal Reserve is today - owned by a private cartel. When we enquire as to what exactly happened when the Old Lady was nationalised, and since, it is ultimately a secret.
As far as we are told in the media, our commercial banks recently lost so much money that they needed bailing out. Yet the so-called "Lender of Last Resort" didn't do the bailing - the treasury did.
Next we are told that the government needs to borrow to pay for all the cash it had given the banks. It cannot just print money - that's the monopoly of the Bank of England. So, it goes to the BoE and the BoE floats gilts (at interest) and sells them to - you won't believe this - Britain's commercial banks.
What else is this but looting? The party in charge of the government has absolutely nothing to do with it - although it does look as though Labour, which always seems to preside at a period of crisis, has been used to hide the fact that "banking" as a whole is now back in full control of the BoE.
When it was nationalised, the banking class felt ashamed that it had come to this. However, they fought back, and in 1977, set up a PRIVATE limited company - Bank of England Nominees - which is exempt from all scrutiny. We don't know who its shareholders, are, and it is speculated that all it is there for is to hold BoE shares secretly following a secret re-privatisation.
Britain is indeed broke. But since the bankers can't make money out of a corpse, they keep it on life support. Hence the almost total lack of truth in the media, and Robert Peston's looong pauses.
Until 1945, the Bank of England was - just as the Federal Reserve is today - owned by a private cartel. When we enquire as to what exactly happened when the Old Lady was nationalised, and since, it is ultimately a secret.
As far as we are told in the media, our commercial banks recently lost so much money that they needed bailing out. Yet the so-called "Lender of Last Resort" didn't do the bailing - the treasury did.
Next we are told that the government needs to borrow to pay for all the cash it had given the banks. It cannot just print money - that's the monopoly of the Bank of England. So, it goes to the BoE and the BoE floats gilts (at interest) and sells them to - you won't believe this - Britain's commercial banks.
What else is this but looting? The party in charge of the government has absolutely nothing to do with it - although it does look as though Labour, which always seems to preside at a period of crisis, has been used to hide the fact that "banking" as a whole is now back in full control of the BoE.
When it was nationalised, the banking class felt ashamed that it had come to this. However, they fought back, and in 1977, set up a PRIVATE limited company - Bank of England Nominees - which is exempt from all scrutiny. We don't know who its shareholders, are, and it is speculated that all it is there for is to hold BoE shares secretly following a secret re-privatisation.
Britain is indeed broke. But since the bankers can't make money out of a corpse, they keep it on life support. Hence the almost total lack of truth in the media, and Robert Peston's looong pauses.