Tag: money supply

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Economic Dynamism and My Arse

What happened was the multi-millionaire David Cameron walked into a room full of frustrated businessmen, talked a lot of old flannel and walked out again. He’s still a multi-millionaire and they’re still frustrated businessmen. What he didn’t say was the one thing they needed to hear, “Here’s the money”.
All that happened was the status quo was maintained. He’s got lots of money, they haven’t, and they can’t get it because they’re denied the funding they need to run their businesses. He’s rich, they’re not, and that’s how things are gonna stay. This is the message we take away from the occasion.

BB

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The Black Heart Of Banking

Banks don’t actually need any capital base at all, they can make money up from the thin air at will (setting aside the dictates of the BIS which is biased on the side of the banks) and gift it or loan it at .01% interest to deserving business and so promote the creation of wealth. It’s the natural way of doing things. We’ve been bought up with a set of beliefs themselves entirely artificial and wholly against our interests so that an artificial economic elite may be created and sustained. This is what’s causing the the current poverty and this is what’s going to have to end. We are witnessing a global banking dynasty, its very existence unsuspected by the majority, in its death throes. I don’t know what the immediate future might hold but I’m sure of one thing; it ain’t gonna be pretty 🙁

BB

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No Reserve Banking

It’s suggested that the banks have had a stern warning from the Toronto G20. I say that’s nonsense. What would really upset the banks is the re-introduction of narrow banking, and I see no signs of that, or genuine competition like encouragement of public bank ownership and I see no signs of that either. I think that FRB is outmoded, any kind of reserve is outmoded and unecessary for a public bank as business needs what it needs and an enlightened culture will understand that it can be funded by the printing press without limit so long as money is created to support sound business in appropriate amounts. Any inflation would be technical not functional, and transient. Anyway, the banks have survived the G20 with their government guarantees intact, have they not? They can still take customers’ money, put it on the financial equivalent of the 3.30 at Kempton, award themselves huge bonuses if they win and apply for the taxpayer to bail them out if they lose. Banks uber alles! This is anti-social nonsense and it needs to end.

BB

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Myners Gets The Bird

Here’s former financial services minister Paul Myners in the house recently, attacking the government of which he was a part;

“There is nothing progressive about a government that consistently spends more than it can raise in taxation…” he says and goes on to criticise Labour’s economic policies as “flawed economic thinking”. 

Um. Would consistently spending money created out of nothing either by quantitative easing or fractional reserve banking and using it to fund business endeavours, the kind large and small that at the moment are either never getting past the conceptual stage or being starved of funds into administration, that would be regarded then by the great Lord Myners as nothing progressive? I think that for a time at least it’s exactly what this country needs, an alternative money supply to the private banks, one readily available and quite prepared to lend cheaply to foster business creation and support until businesses are bringing in enough mony (and so taxation) for the stimulus to be withdrawn or reconsidered… bring it on, I say, and the sooner the better. Such a shame there’s no discussion of this in the House… 

http://www.politics.co.uk/news/legal-and-constitutional/myners-attacks-his-former-colleagues-$21379502.htm

BB

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Scam civilisation

This from Tacitus, Roman historian, on the Britons after being conquered,”All this in their ignorance, they called civilization, when it was but a part of their servitude.”

The early Britons thought they had their own civilisation but really it was just a scam run by the Romans. The Romans had the monopoly on the money supply. If you wanted to trade, you had to use money, which you could only get from the Romans. Every time Britons traded, the Romans got their cut. The Britons were greatly encouraged to consider improving their circumstances by trading (mostly up) as the hallmark of a civilised nation. Get a whole people, a nation, running around trading and giving you a cut each time, self-motivated as they think they’re being civilised… what you’ve got is a machine that works day and night to make money for you.

We today similarly think we have our own civilisation, but really it’s just a scam run by the banks. The banks have the monopoly on the money supply. Every time we trade, bigger car, bigger house, more exotic holiday, or even just basics like food, heat, light… the banks take their cut as we have to “borrow” from the banks to get the money into circulation to use for all this. At interest. All our efforts really serve to do is enrich the banks.

The Roman scam grew bloated and was destroyed by the irresponsibility of the people at the top. The complete withdrawal of the money supply, on which the Britons and everyone else conquered by the Romans had come to depend, precipitated what we refer to as the Dark Ages. What we live in now grows bloated and is being destroyed by the irresponsibility of the people at the top. The money supply diminishes as the banks refuse to “lend”. History repeats itself around us.

I suspect a long night may be drawing in…

BB