Tag Archives: national debt

The Absurdity of the National Debt – published by The Duke of Bedford in 1947

We are not the first in history

to notice the tension

between the City of London and the City of Westminster…

Page 1 – Page 2 – Page 3 – Page 4

One of the gems on Financial Reform.

Dear Correspondence & Enquiry Unit @ HM-Treasury

Dear Correspondence & Enquiry Unit

I found your letter to Mr X so interesting that I published it on http://publicdebts.org.uk

As a mathematician and system analyst who used to diagnose high energy physics software at CERN, I trust my logic and analysis. Hence I would like to ask:

1.     How much of the capital of the National Debt is paid annually?

a.     Where are the statistics?

b.     Who determines the amount or percentage?

2.     What is the time span that is considered for ‘spreading across generations’?

3.     I do find the logic interesting that the National Debt is used for a ‘more stable the tax system’.

a.     Why do taxes get changed anyhow?

b.     What do you consider “economically efficient or inefficient”?

4.     What do you or the IOBR consider a “sustainable position”?

a.     Where is the clear and measurable fiscal mandate?

b.     Is there an equally clear and measurable mandate for the National Debt?

5.     What prevents HM Treasury to increase M0 to stabilise the tax system?

6.     Why is it relevant what the IMF thinks about HM policy?

7.     Why do you think that the IMF comment about “market reaction has been positive” is proof of the Government’s strategy to be “working”?

Looking forward to your response,

Yours sincerely,

Sabine K McNeill


3D Metrics, Director

Forum for Stable Currencies, Organiser and Promoter

21a Goldhurst Terrace – London NW6 3HB

T: 020 7328 3701 – M: 07968 039 141

It’s not Government policy to repay the National Debt completely…

HM Treasury, admittance of National Debt 1HM Treasury, admittance of National Debt 2Getting letters from Officials is always interesting.

This one is an anonymous response from public.enquiries AT hm-treasury.gov.uk and states:

The National Debt is not owed by the public, but is owed by the Government. It is not Government policy to repay the national debt completely. Governments borrow in order to spread the capital of projects across generations, so that all those who benefit from a government policy contribute towards it.

Borrowing also allows the Government to smooth its expenditures over time, allowing for a more stable tax system.

If the Government did not issue debt, then taxes would have to be constantly changed. This approach is unfeasible and economically inefficient.

I shall send an email in response to this and ask others to do the same.

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.

New site on the UK National Debt

There’s a new kid on the block: The UK Economy’s Debt bombshell

An interesting analysis, a good compilation of sources and data and an appeal to take personal responsibility.

How the national debt bomb affects us as individuals varies. But it certainly affects us all as no politician will be able to change the current trends set in motion by institutions in which people are “just doing their job”.

These jobs are set to perpetuate the creation of money as credit – the name of the Nation or other public bodies, so that private rentiers benefit from such interest payments.

May we as voters, taxpayers and bank customers wake up to our rights by understanding what is going on and challenging those who are taking part – even if willy nilly.

And here is a new graph that I produced from data published by the Treasury as the Public Finances Databank – thanks to . Please note the forecasts and the steepness with which the debt grows since 2008! Who has made sure to benefit from the ‘crisis’? Who has bought long term Treasury Bonds and is earmarked to do so until 2014? Clicking on the image gives you a larger version.

Public Debt 1974 - 2014

Secret summit of top central bankers

This article in the Australian Daily Telegraph yesterday is nicely coincidental, as I have decided to publish this blog in English, having launched the equivalent in German in November 2009.

After all, the Bank for International Settlements (BIS) in Basel, Switzerland, is the central bank of all central banks. Furthermore, the European Central Bank (ECB) in Frankfurt, Germany, is the first of “regional” central banks that are planned by the globalisers.

In contrast to us localizers, globalisers aim at one world government with Special Drawing Rights as one world currency and the International Monetary Fund (IMF) as global central bank.

Continue reading