Friday, 7 August 2009

Bank of England to increase counterfeiting

bbdo_brown_stalin_380[1] Going to inject more worthless paper into the economy and further devalue the cash already in circulation.

The decision by the Bank's Monetary Policy Committee (MPC) to increase the scale of the unprecedented programme of printing money, or quantitative easing, from £125bn to £175bn was consented to by Alistair Darling, the Chancellor of the Exchequer.

Call it what you wish, they are simply flooding the market with toilet paper. Actually, that’s a lie, toilet paper has value. It is bought by cash that is earned through labour. You know, you work for a week, get paid, that money represents a week of your working life. Same if a house is built and sold, the resulting cash created represents the collective labour, materials and profit involved in the transaction. Money is supposed to be one side of a coin (pun intended), the other side being production.

If the Wank of England just creates billions out of thin air and throws it into circulation what happens? Supply and demand happens, that’s what. If there was an infinite amount of cash then it would be utterly worthless. You would be better off using toilet paper to buy things with. Another example is diamonds, or oil. If you deliberately control (restrict) the supply and demand is static or increases it will force the value of the commodity up. That is what De Beers and OPEC do and is much easier to achieve when a monopoly/ oligopoly exists. Works the other way too. Increase the supply at a higher rate than demand and the value drops.

Now, this is just a simplified example but the principle is the same. Let’s say you earn £100,000 in a year, expenses are charged to some poor fucking idiots who let you get away with it (name this occupation). You bank the whole wedge. There is a ‘recession’ and the central bank starts flooding the economy with production-lite money. It devalues the cash in your account but it doesn’t manifest in a drop of account value, but an increase in the prices of everything else (as its buying power has decreased). Think of it like pushing weights. One month you push a certain amount with ease, but when you go back a few months later you find it much harder to push. It is the same weight, but you’ve gotten weaker due to a ‘dilution’ of your training regimen. Same thing.

Now, for the sake of simplicity let us say that your £100,000 back then can now only buy £90,000 worth of stuff today. Unlike others, you didn’t sell your Sterling for a more stable currency on the announcements of ‘quantitative easing’. This can manifest as the pound dropping against other currencies. When the pound drops, what that means is the value of your pound in your pocket falls in relation to other currencies.

Anyway you have lost £10,000 of buying power. Even if you stuck it under you mattress it would have still happened. But it gets better! Remember that the money you earn is a direct result of your labour and time you invested in it, the value of your production. £10,000 of it has now vanished. That is 10% of your working year gone. If you worked 300 days that year, it means you lost 30 of them (10%). The Bank of England literally stole them off of you. This is why inflation is a tax, and it does not take into account the burden on the taxpayer from the state spending and debt that already exists;

This year’s Tax Freedom Day, the date when we finish paying our tax burden for the year, was May 14 - the earliest since 1973. However, economists say that government deficits are really a form of deferred taxation and when government borrowing is factored in this momentous date does not fall until June 25 - the latest since 1984.

The average taxpayer is now working more than half the year on behalf of the Government and with each year that goes by this date gets later. In 2008 it fell on 15 June but in 2009 it will take 10 days longer before you start to earn any money for yourself.

So it is a fact that over half of your working life is served as a slave to the state (or that it owns a +50% stake in your production capacity). Interpret that as you will, but I see it as the government/ BOE having a controlling interest over you, and this is just for the people who are actually working!

So let’s add a few more points and summarise. The BOE is holding interest rates to the floor so people cannot earn anything on their savings, then inflating the money supply, reducing their savings, then the state is spending so much of your money that you are enslaved to it for over half the year. I do believe the BOE easing amounts to £5000 a second;

The Chancellor was lent £13billion in June - the highest ever for the month - bringing his borrowing for the financial year so far to £41.2billion, more than the defence budget.

That makes 2009/10 the fourth worst year in history for Government borrowing, even though it is only three months old. Borrowing to date has only been exceeded in an entire 12 months by last year, and the three years in 1992 to 1995.

Yes, more debt for the BOE and IMF to control us with, just what the internationalist financiers want, using the same techniques the Rothschilds used to take control of the BOE in 1825. And to top it all off, the government has had their accounts ‘qualified’.

Alistair Darling was embarrassed today when the Treasury's accounts were qualified for the first time in its 350-year history.

Moreover, after a huge rise in fraud and error in the tax credits system, auditors also qualified the accounts for HM Revenue & Customs and the Department for Work and Pensions.

When accounts are qualified it means auditors signify they have questioned information in them and disagree with the audited body's management.

This is quite simply wholesale looting of the British people, stealing real assets and replacing them with debt and worthless paper. I don’t know what else to say…


Keoni Galt said...

Funny, is it not, FMW, that all over the Western World, all of the "leaders" all have the exact same answer to the economic "crisis," eh?

It's almost like there's some sort of conspiracy or something...

- Hawaiian Libertarian

Anonymous said...

That is odd! No no, no such thing as a conspiracy. Only crazy people believe that 'two or more individuals plot in secret to carry out illegal acts'.

I just saw that in the States, they had some stupid policy of paying people to scrap their cars only to buy new ones. It's the same stupid policy they had here. Are these governments taking orders from some supranational gang or what.

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