Why Create Another Problem When You Already Have One?
20 June, 2012The announced £140bn cheap funding for British banks is further confirmation, if that were needed, that current economic recovery is wholly dependant upon debt. That unless businesses and individuals are willing and able to burden themselves with ever more debt, there cannot be an economic recovery. Why is it that debt is seen as the [...]
'Decades' of Cuts and Tax Rises Ahead?
16 April, 2012A Daily Telegraph, 13th April 2012 article reads 'Decades' of cuts and tax rises ahead. Britain faces decades of spending cuts and tax increases if the national debt is to be brought under control, economists have forecast. As any car user knows the distance a car travels depends upon how much fuel is in [...]
Quantitative Easing – Transfer of Wealth from the 'Poor' to the Wealthy?
13 April, 2012There is considerable doubt that QE (Quantitative Easing) is achieving what has been claimed and evidence that it is actually doing immense damage particularly for pensioners. Still is that not par for the course, the transfer of wealth from the 'poor' to the wealthy? Using QE money, the BofE (Bank of England) is reported [...]
Extract from Bank of England Letter
6 February, 2012Extract from Bank of England Letter, 14th December 2011: When asked what safeguards there were to ensure that money released through 'QE' was used solely for the benefit of the nation, the long winded reply amounted to 'None'. Once an investor received payment for the asset sold to the Bank of England, it just became a deposit [...]
The Heart of the Matter – Part I: The endless cycle
20 December, 2011Peel away all the layers and at the very heart Britain has problems that are far deeper than are spoken about. Taxation, Employment and Consumer Spending all are inextricably linked and the controlling factor is Consumer spending. If Britain is to come out of this recession, then the money supply must be increased, thereby [...]
OECD: Britain Slips Back into Recession
28 November, 2011Organisation for Economic Development and Cooperation (OECD) figures suggest Britain's economy will slip back into recession at the start of next year. The Chancellor is working on a multi-billion-pound “credit easing” scheme to make it easier for firms to borrow money, as the centrepiece of his attempts to boost the economy. It is understood the Treasury is considering borrowing [...]
"Our Plan to Cut Debt is Failing" says Cameron
22 November, 2011Now there is a surprise! "Our plan to cut debt is failing", says Cameron. If a Prime Minister and the Chancellor of the Exchequer are reliant upon the same bunch of civil servants who failed to see the signs that led this country into the 2008 financial crisis, then it is little wonder their [...]
We Used to Have Debt-Free Money
18 October, 2011A Drop from 46% to 2.6% The proportion of money created free of debt dropped from 46% to less than 3% since 1946. Over past months I have been writing of a need for the economy to be firmly based upon debt free money instead of the present high dependency upon debt creation now exceeding [...]
Financial Crisis Is Worst the World Has Ever Had
10 October, 2011The worst financial crisis since the 1930's "If not ever" says Mervyn King, the Governor of the Bank of England, according to The Telegraph, Monday 10th October. What he did not say was WHY? WHY are we in such a financial mess? Throughout Britain the call goes out for economic growth. Economic growth to take [...]