Category Archives: Government budgets

ARGENTINIAN PRESIDENT Cristina Fernandez during UN General Assembly about DEBT, IMF and SOCIAL INCLUSION

She also talks about

  • ‘vulture funds’ and how, today, Argentina is bullied by them, in complicity with the legal profession
  • ‘economic terrorists’ – just as as published in Confessions of an Economic Hitman

Systemically speaking, it’s the same circus with different clowns – whether at state or at individual levels:

  • public interest means private pockets
  • the creation of money is protected by the legal profession
  • the legal profession prefers to serve its financial masters, the banksters, than their clients
  • the financial profession have turned into ‘banksters’
  • ‘professionals’ don’t act in the interest of their clients, as they prefer to keep their jobs and pensions…
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NATIONAL CREDIT and the Bradburys – from the Author of The Money Bomb

This 5-page article was written by James Gibb Stuart who passed away after 93 years of a life filled with passion for monetary reform.

His book The Money Bomb made such an impact on the City’s establishment that it was banned from WH Smith’s windows after a positive review in the Evening Standard…

With ‘social media’ we have a new chance to make the Bradbury happen and abolish the national debt in the process:

A FLAW in the Monetary System?

This seven-minute video shows better than any other medium how devastating the effect of compounding interest upon interest is.

The trouble is that, by now, brainwashing (rather than education) has been so successful that everybody thinks ‘money’ must be borrowed. At interest. Nobody asks where the interest is supposed to come from.

And there is a big difference whether

  • you and I borrow for our personal or small business needs (little money)
  • whether banks and central banks borrow (making money out of money aka usury)
  • and whether the Government borrows ‘big’ money
  1. for its own needs
  2. the provision of public services
  3. the compensation for shortcomings provided by public officials
  4. to ‘run’ the economy – which it hardly does, compared with the effect of money as debt.

Yes, it’s about ‘big’ money and ‘little’ money, and it’s about long and short time frames. That’s what the video shows!

‘Austerity cuts’ are far from necessary. But The Bradbury Pound is not known, since it is not taught by any economist. For the bank(st)ers do their best to camouflage what they are doing: create money from thin air and charge interest for it.

The big question is: why do all politicians seem to fall for this ‘trick’ such it has been beautifully institutionalised into the Debt Management Office?

The history of the national debt is published here. But who benefits is not published, i.e. the recipients of interest payments!

The Emperor’s New Clothes: How to Pay off the National Debt & Give a 28.5% Tax Cut

This is a great article with an interesting string of comments, written by an entrepreneur who calls a spade a spade.

It’s part of the remarkable work of The Cobden Centre which stands for honest money and social progress!!!

I came across it thanks to Steve Baker MP who supports Douglas Carswell MP in his 10 minute rule bill to lead the way on bank reform.

The growth of interest payments in austerity budget

It is quite extraordinary to watch what is happening publicly and to “see” what is really taking place. I have added today’s budget figures to the analysis of the last 10 years and produced the three graphs below. The June 2010 figures are labelled “2011”.

Government Budgets since 2001What matters in the development of these budgets is:

1. the trend set in motion in 2008, when the “crisis” hit

2. the continuation of this trend by the current government

3. the framing of this budget as an “austerity budget” when the truth is rather one of “the Bank is in charge” budget;

Government Expenditure June 2010for on the expenditure side, the only item that increased are the interest payments.

Government Income June 2010Interest payments are the essence of the national debt. And the national debt is the big lie according to this American article.

On the receipt side,  “Other” is the item that changed dramatically. We’ll have to inquire how this came about. The Treasury publication says: capital taxes, stamp duties, vehicle excise duties and some other tax and non-tax receipts.

Coincidentally, I was sent a comment by William Shepherd who publishes a blog on the Bank of England as well as the History of Usury.

He quotes Ellen Brown, the author of the Web of Debt and many, many articles:

–snip —

Bankers are in the debt business, and if governments are allowed to create enough money to keep themselves and their constituents out of debt, lenders will be out of business.  The central banks charged with maintaining the banking business therefore insist on a “stable currency” at all costs, even if it means slashing services, laying off workers, and soaring debt and interest burdens.  For the financial business to continue to boom, governments must not be allowed to create money themselves, either by printing it outright or by borrowing it into existence from their own government-owned banks.

–snip —

The financial sector, which controls the money supply and can easily capture the media, cajoles the populace into compliance by selling its agenda as a “balanced budget,” “fiscal responsibility,” and saving future generations from a massive debt burden by suffering austerity measures now.  Bill Mitchell, Professor of Economics at the University of New Castle in Australia, calls this “deficit terrorism.”  Bank-created debt becomes more important than schools, medical care or infrastructure.  Rather than “providing for the general welfare,” the purpose of government becomes to maintain the value of the investments of the government’s creditors.

–snip —

England’s new coalition government has just bought into this agenda, imposing on itself the sort of fiscal austerity that the International Monetary Fund (IMF) has long imposed on Third World countries, and has more recently imposed on European countries, including Latvia, Iceland, Ireland and Greece.   Where those countries were forced into compliance by their creditors, however, England has tightened the screws voluntarily, having succumbed to the argument that it must pay down its debts to maintain the market for its bonds.

–snip —

Looking forward to your comments!

Goldman, Goldman über alles

This GATA article is a remarkable summary of the madness that has resulted from bankers going berserk in their greed and need for power and control: Goldman can “print money” faster than the European Central Bank – by using credit default swaps. These were invented by J.P.Morgan in the early 1990s.

So governments are not in the hands of central but private bankers! Both create money out of thin air and sell it as “financial products” for interest payments. Meanwhile, we the people, are supposed to believe economists that money is a medium of exchange to fuel the real economy whose “output” is measured by GDP

GATA is one of the best sources of information and analysis one may find. And as professional gold investors they are powerful. That includes taking the Fed to court! Imagine us doing that with the Bank of England!… 🙂

The future of public debts: prospects and implications

This article shows the New World Order and its player, the Bank for International Settlement (BIS), in action: bankrupting states so that the invisible governments of central banks and banks can use ‘financial products’ and ‘monetary aggregates’ to control the real world and the real economy. In the name of freedom, democracy and law and order !?…