#G054* – A CONCEPT FOR FINANCIAL CRISIS CURE
I thought this was an interesting perspective on our current financial crisis, the inevitability of which I was writing about 10 years ago and was clearly aware of when Harold Wilson encouraged everyone to have bank accounts and almost every subsequent Prime Minister and Chancellor has encouraged the populace to borrow!
This depression has only just begun and in the hands of the economicly illiterate Gordon Brown who has governed our economy since 1997 it is clear he hasn’t the vaguest clue what to do.
It is clear that the Politicians and the Bankers are not just a part of the problem they ARE the problem and the myth of The Independent Bank of England is just a joke – Mervyn King is just a duplicitous castratti singing for his supper, to wake in the morning and read the headlines in The Sun from Trevor Kavanagh after he has received the script from Drowning Street.
The only part of the Treasury control given away by wee Gordie to The Bank of England was The Blame!
In this article David puts forward HIS suggestions which I found interesting:
1. Withdraw from the EU, the creator of the crisis.
Ten years ago the EU, in a coordinated move with the US government, ordered its client governments to deregulate the banks. Our puppet government at Westminster complied. This laid the groundwork for massive bubbles in every market: housing, stocks, commodities, derivatives etc, in the certain knowledge that all the bubbles would burst, with devastating results for ordinary people.
Britain is in the worst position because of the EU’s attack on Britain and Sterling. We now spend £167 billion pa on the EU’s 8,500 quangos in Britain (according to the Cabinet Office) the Treasury’s biggest expense by far (the NHS is next at £90 billion, itself stuffed with £50 billion pa of administration quangos). Quangos bribe 100,000 people with £100,000+ pa salaries to smooth the way for the EU takeover, and have been instrumental in making the Treasury almost insolvent, and the Pound fall.
EU regulation cost £100 billion pa in 2005 according to Tony Blair and the Better Regulation Task Force.
The EU’s closed down scores of thousands of British businesses with its 120,000 regulations, all aimed only at Britain, and will close most of our 4.5 million small businesses when they are fully enforced.
The EU got control of our borders in the 1997 Amsterdam Treaty and has let 10 million immigrants in since then, swamping our infrastructure and impoverishing the English as they depress our wages, take our jobs, food and resources.
The total cost of the EU was probably £375 billion pa in 2007, ¼ of our GDP of £1,330 billion. It is deliberately crippling us. Leaving the EU is the first step; all the above must be reversed or abolished.
2. Close 70% of our bloated government, and cut taxes 70%
The government has seized our wealth with extortionate taxation, fees, charges and fines, and spent it on itself, supporting its own bloated lifestyle. We only get about 20% back in the form of useful services. We’ve just had the biggest boom in history – without this government theft minimum wage should be £20 an hour now. Government waste is the second millstone around the economy that needs to be cut away.
3. Go on a full Constant or Gold Standard.
Boom bust cycles have been caused by banks expanding the money supply (yes, deregulation allowed banks to “print their own money”) creating a bubble of loans. They then cause the busts by shrinking the money supply, and calling loans in. A constant standard, based on a basket of commodities, stops this.
The pound sterling must be backed immediately by a proper Gold Standard, (not a manipulated one as before) or better a Constant Standard. If this is not done quickly the EU will destroy Sterling.
4. Control politicians
Our politicians serve the EU (and implemented its economic destruction) not their voters, which is why your vote doesn’t count. The EU collaborators, particularly Gordon Brown, Tony Blair, David Cameron, Mandelson, Ken Clarke, Nick Clegg, David Milliband, Ministers, MPs who voted for the Lisbon Treaty, should be banned from politics for life and their prosecutions for treason and economic sabotage begin.
Every law or regulation parliament passes should come down to us in an annual ballot in November, and we should tick yes or no against which ones we will allow to have Royal Assent, rather as they do in Switzerland. This will stop ruinous legislation and emasculate destructive politicians permanently.
5. Nationalise the failed banks to stop the corruption
Bailout money should buy the ordinary voting share capital of banks on behalf of the British people. Failed bank bosses fired, all salaries and bonuses paid to them by loss making banks confiscated. A new law passed: No directors’ salaries or bonus may be paid until authorised by shareholders, one shareholder one vote, to stop their pals with institutional block votes continuing the corruption.