The UK Uncut initiative is a wonderful expression of the Signs of Our Times:
- it began with a Twitter hashtag #ukuncut
- what manifested as a sit-in of 70 people in a Vodafone store in London
- and spread across the country in no uncertain way.
Spread the word, join in actions, or at least smile!
One Good Cut instead!!!
With thanks to Inquiring Minds.
Posted in Borrowing, Campaigning, Central Banks, Credit Crisis, Credit Crunch, Debt, Economic measures, Government budgets, Money supply, National debt, Spending cuts
Tagged Bailout money, Barclays, credit crunch, debts, spending cuts, Tax avoidance and tax evasion, Twitter, UK Uncut, Uncut
Economist James K Galbraith gave a presentation to the Senate Judiciary Committee in which he speaks of “financial fraud” as the cause for the “crisis”.
But that’s not enough:
- Central Bankers create “currency” as “public debt” from thin air, charge interest to the Government (in the UK as much as the military budget) and call it “quantitative easing“
- Bankers create “credit” from thin air, charge interest for their sort of “money” and get bailed out by Government
- The Treasury prints notes and mints coin, as Cash, free of interest, but still believes it has to “borrow” money from the Bank of England…
Enter we, the taxpayers:
- we believe that the Government runs the economy, when, in fact, their budget represents maybe around 40% of the whole money supply
- we believe that the Bank of England supervises banks and does it for the benefit of the country, when, in fact, it works for the benefits of its shareholders, like all other central banks
And what about taxes?
Before the creation of the Bank of England in 1694, monarchs created money and demanded taxes. However, the first “national debt” consisted of £1.2 million at 8% for the King to fight a war with France.
This pattern continued such that more and more Credit was issued as “money”, while the need for Cash was more and more reduced:
- since WWII 47% Cash went down to 3% Cash
So the Government colludes in the central bankers’ game of ruling the world with currencies (and the loss of their value) and credit money (and the loss of its value), while the real economy, with its real values is exploited and oppressed.
In theory, neither taxes nor spending cuts are necessary.
In practice, it seems to depend on who influences whom with what kind of knowledge and understanding or beliefs and myths…
In our efforts to stage a Public Inquiry into White Collar Crime, we need to include the creation of “money” as the ultimate institutionalised white collar crime… But who cares???
Justice for All are campaigning against spending cuts regarding legal advice. Maybe they’ll realise where spending cuts fit into the larger picture of creating “credit” from thin air and calling it “money”…
Posted in Bailout money, Borrowing, Credit, Credit Crisis, Credit Crunch, Debt, Government budgets, Money supply, Quantitative easing
Tagged Bank of England, Central Bank, Credit, Government, Monetary Policy Committee, Quantitative easing