Month: October 2009

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Bank Fraud

Where is it governments borrow money from? Nowhere at all. Instead, they ask the banks to create money, under license from themselves (the govt) which the banks will agree to as long as the banks are given in return an amount equal to the same amount they create, plus a whole lot more on top too. Governments, elected to serve our interests I’ll remind you, happily agree to this, rendering the electorate and their descendants liable for fulfilling these impossible obligations for centuries. Then those same governments retire and mysteriously surface in comfy retirement as consultants to – amazing, this – banks!
I think those who complain about immigration miss the point. It’s the money problem and the way banks and politicians between them stitch the rest of us up rotten that needs addressing. Many of these immigrants are economic migrants anyway. So will we be soon, I imagine, on our way to the boom economies of China and India with our begging bowls and our lucky heather.

BB

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Narrow Banking, Narrow Thinking

OK, I got it. You have investment banks (casino banks) and you have the kind of banks we typically associate with the High Street where you make deposits and withdrawals and so on. Narrow banking means the two remain separate, see Glass-Steagal, an act bought in after the Great Depression to separate the two banking systems, recently repealed. This has greatly contributed to our current economic woes. If the casino banks are tied up with the high street banks, when the casino banks make a bad bet and they fail, because the’re tied in with our high street banking system they bring the entire economy down with them, hence the expression, too big to fail. Obviously it’s in the communal interest that Glass-Steagal or something similar be reinstated, which is why it won’t happen or even be discussed at any senior level. I keep trying to explain to people that what we live in isn’t run for our benefit any more than a battery farm is run for the benefit of the chickens inside it. Here’s yet more evidence to support my point of view.

BB

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What Exactly Do Our Taxes Pay For?

Watch the average politician talk about the necessity for taxation on the tv and there’ll be lots of hand-wringing and talk of schools and hospitals… nothing about where an increasing amountof it really goes, paying back non-existent ‘loans’ from banks that are really just accounting entries for money they never had in the first place. There’s so much that the average punter will never see or hear discussed or read about in the mainstream media, much of the point of which seems to be no more than misdirection these days. Where would we be without the internet?

BB

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The BNP Economics Policy

The BNP’s Larry Nunn is probably better equipped to articulately explain the BNP’s economics policy (which I understand involves reintroducing full reserve banking and dumping the fractional reserve banking we are now saddled with) than Nick Griffin ever will be. I doubt we’ll be seeing Larry on the telly for precisely that reason. Some elements of banking simply aren’t discussed in the media; not in print, not on air. It’s at least arguable that the whole point of having a prominent BNP figure on a national tv show and then not letting him get a word in about actual BNP policies was to stop him drawing any attention to the existing banking system. It’s a taboo subject. In the media you’ll see nothing but the very briefest of mentions of money being created by banks. If that idea ever got out and became more widely understood I suspect it would mean the end of law and order as we’ve known it. Now I’m familiar with the subject I’d have to say rightly so.
Don’t expect to be seeing The Bill Kruse Show anytime soon either!

BB

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Local Banks Closing To Be Replaced With What Exactly?

Local branches of the big banks are closing all over the country, leaving the locals with no banking facilities. This is regarded as lamentable by many.

Bring it on, I say. The existing banking system is broken beyond repair anyway, having debts that might be regarded as infinite and so are insolvent. The sooner people realise that the existing system’s useless and we have to walk away from it then the sooner alternatives will start being seriously discussed. The idea of alternative banking might seem to be the exclusive province of the weirdie and the beardie but the ongoing cuts in local banking facilities will force more perfectly normal folk to start taking these things more seriously. None of this is before time, IMHO. 

BB

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Brooksley Born

They bilk us; information found regarding internal communications back in 1993 when Proctor & Gamble sued their bank for selling duff products highlights this. It’s the rest of us versus the banks, and sadly the politicans seem to be more on their side than ours. One woman who fought for regulation, essentially for civilisation against lawlessness, was the CTFC’s Brooksley Born. Her story’s here in video;

http://www.informationclearinghouse.info/article23787.htm

Educating and frightening in equal parts.

It suggests to me that since the OTC derivatives entire process is dark, there’s only one realistic approach when it goes wrong; walk away.

You can’t fix what you can’t see.

I know this means walking away from the existing banking system, so to what exactly? Ellen Brown seems to be pointing the way;

http://webofdebt.wordpress.com/2009/10/15/reviving-the-local-economy-with-publicly-owned-banks/

BB

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Nick Griffin And The BBC

Firstly, if I was Nick Griffin I’d have absolutely made sure there were riots outside the BBC centre if I knew I was going to be on Question Time. It’ll be interesting if it turns out that at least some of the protesters against his presence there turned out to BNP members bigging up the occasion.

The real significance of the occasion for me was that he was there in the first place anyway. A representative of a fringe party, regarded by most as cranks a few short years ago, now here they are on a highly-regarded mainstream political program, albeit from what I gather (didn’t watch it) he wasn’t asked any decent questions. What would have seemed impossible, unimaginable even a few short years ago is now becoming commonplace and even respectable.

Who are they going to have on next week, the Druids?

BB

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An Expanding Monetary Base & Inflation…

don’t always follow each other. I know it used to be that way but these are times without precedent. People keep talking about in recession (booooo!) or out of recession (yaaaay!) as if they’re bad or good things but really nowadays they’re irrelevant things. It’s as if money has taken a life of its own, spun off into some cyberFrankenverse where old rules simply don’t apply any longer. All the quantitative easing the governments are indulging in is expanding the monetary base but not this one, not the one that you live in and I live in. It simply adds volume to the monster in cyberspace. That doesn’t affect us here in the real world. Very few people seem to get that this is an entirely new game in some regards. We never had this cyber aspect before, there wasn’t the facility to create electronic money. There may be inflation at some future date but it’s by no means inevitable.

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Can’t Go Wrong With Gold… Except You Can…

In a scene reminiscent of the origins of the banking system itself (benches, goldsmiths, promissory notes, counterfeiting) it’s beginning to look as though gold has been oversold. Leveraged appears to be the term for counterfeiting in these modern times. Just as in the old days, the origins of banking, goldsmiths gave out promissory notes for the same volumes of gold over and over again, it appears bullion banks are routinely doing the same thing. Cue more bailouts! Audit ahoy!

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Floods, Pestilence, Plagues Of Locusts, Suicidal Economists… Oh, Wait…

Scratch that last, they weren’t supposed to be there. All this “End of the world” scenario is simply a distraction away from the economic problems that are in reality engulfing us. Brown’s hoping we won’t notice the theft from our wallets if we’re all scanning the skies watching for bad guys. It’s like living in a badly-written airport paperback.

How dumb are we supposed to be? Some politicians have got the excuse “I know they’re dumb because they voted for me” but Brown doesn’t even have that. Where do his PR people get the idea we’ll be impressed by anyof this?

BB