This article in the Independent is entitled “Bailout money is flowing abroad”. It illustrates how journalists don’t analyse deeply enough and how language has always been used by the bankers and central bankers to make it sound acceptable what they are doing.
For the money that the Bank of England has been “printing” by “quantitative easing” has not been created in the same way as the “bailout money” that the Treasury provided.
By buying government bonds, the Bank of England has bought yet more control over the state. As H M Government, it feels powerless to create money, because its individuals have been ‘bought’, each in their own way, by ‘higher powers’, so that, gradually, the wrong institutions perform and follow the wrong procedures, e.g. the Debt Management Office and the FSA.
Their Majesties’ subjects were meant not to be oppressed by the Corporation, as the Bank of England Act 1694 says.
But Her Majesty’s Senior Correspondence Officer passes my letters to No. 10 where Mr. S. Caine passes them to the Treasury from where I don’t get an answer…
For those who can recognize it, the trend towards more and more concentration of controlling by money, is becoming more and more apparent. But let us trust that the connectivity of the web and between people with good intentions will help us!