Bullingdon Club boys Osbourne & Cameron, representing the top 1%.
‘Chancellor George Osbourne continues to demonstrate his completely ignorant understanding of the economy (or some may say complicity in destroying it) by today announcing a new “multibillion-pound credit-easing plan”, which will really ease Britain in to further debt to the private bankers.
As reported by The Guardian:
The credit will be provided by the Treasury through an arm’s-length operation direct to companies, with the Bank of England acting as the Treasury’s agent. Under the scheme, the Treasury will buy small firms’ corporate bonds, providing cash direct to struggling firms unable to gain funds from the banks.
Lets attempt to cut out the confusion. The Government plans to invest in small businesses because the Banks we bailed out are still refusing to make loans. So where does the Government go to get the money to invest in these businesses?
Well…it has to borrow it at interest. It does this by issuing Government Bonds through the Treasury, which financial institutions, private investors and offshore banks purchase.
How does the Government pay this back? By cutting public services and/or raising taxes.
So in order to get the economy moving again, the Government’s answer is to borrow more money and increase the national debt that currently sits at £4.8 trillion.
The Guardian continues:
Officials insisted the move did not represent a state bank or the start of the government picking winners.
This statement is flawed on many levels and sits within the paradigm that Britain operates under free-market capitalism. This isn’t true at all. Britain operates under crony-capitalism with banker welfare. When the gambling Banks in the city failed, a true free-market would have let them dissolve. Instead the Government wrote them a welfare check (bailed them out) which the people then have to pay for.
Officials are insisting that this new move isn’t socialist and isn’t picking the winners over the free market. But the process of bailing out the banks was exactly that. Picking banks that were too big to fail and giving them a welfare check, just like the teenage mums everyone gets angry about, but to the tune of £850bn rather than barely enough to pay for food.
Like Orwell’s concept of doublethink, officials are reversing the meaning of phrases. What would actually help the country recover right now would be a state bank, one that issued it’s own debt-free currency and invested it in public projects and services that benefit the people. It’s the private banking system and it’s monopoly over issuing currency that forced the Government and therefore the people in to debt. And Osbourne’s answer is to go further in to debt to the same system, in hope that a few small companies can somehow drag us out from beneath it.
The national debt is not the people’s, because the people didn’t illegally invade foreign countries, the people didn’t vote on the EU and the people didn’t crash the economy. The debt was created by our corrupt Governments and has given the Bankers total control over our future because all mainstream political parties vow to pay it back by making us do the paying.
On October 15th disgruntled British citizens will be taking those grievances to the City of London and Stock Exchange. It’s time to null and void the national debt, it’s time arrest the Bankers that knowingly collapsed the economy, it’s time to get our Bailout money back, and it’s time to demand the Government represent the 99%!’