Ten years ago the EU, in a coordinated move with the US government, ordered its client governments to deregulate the banks. Our puppet government at Westminster complied.
This enabled high street banks to become merchant bank style wheeler dealers with our savings, and allowed them to create massive bubbles in every market: housing, stocks, commodities, derivatives etc, in the certain knowledge that all the bubbles would burst, with devastating results for ordinary people. (see Credit Crunch Cure on the left.)
Banks with ethical boards, like HSBC, did not take advantage of the deregulation. The freemasonry controlled banks did - Northern Rock, RBS, Halifax Bank of Scotland etc, and would already have closed down if another Scottish Rite freemason, Gordon Brown, had not bailed them out, with plans to pour enough good money after bad to complete the destruction of both the pound Sterling and the British economy. (See Deliberate ruin of banks, left.)
The Cure
The cure is to create a new good bank, owned by the British people, and to transfer all our bank accounts across to it. As far as the banks are concerned that is a total liability of £1.1 trillion, and good assets to match should also be transferred. No public money should be given to RBS, HBOS, Northern Rock and the others, who should then be left to sink or swim with their toxic assets and derivatives. If they went bust as they deserved the directors would have lost their pensions. After a much shorter recession we, and the Pound Sterling, would be saved. The old bank regulations should be reinstated, and laws passed to confiscate directors' and other bonuses already paid by loss making banks.
High interest rates coming
Instead Gordon Brown and his Ministers, who do not represent us but their masters the European Union, have deliberately exposed Sterling to £1.5 trillion of bank liabilities, and are borrowing more money than the British economy can stand to bail out those banks.
As it becomes more and more difficult for the government to borrow on that scale Gordon Brown will put interest rates up sky high, and he'll have to start doing it inside three months. Three months later the house repossessions will start as people can't afford their mortgages; and this winter we're looking at interest rates around 20% and reposessions by the hundreds of thousands.
We've already seen the first two signs: the Bank of England was unable to sell all its £1.75 billion of treasury borrowings in March 2009; and their Chief Economist Spencer Dale warned on the 27th March they will put up interest rates "With vigor" if inflation returns.
This is a deception of course; the real reason is excessive borrowing; we're still in deflation now. But Gordon Brown's borrowing on this scale, with all that extra money chasing fewer goods, will eventually lead to hyperinflation. Unless you stop them, in two years we could be paying £100 for a loaf of bread.
The EU has a communist constitution (completed by the Lisbon Treaty), and they don't believe in private ownership of property. The EU's plans are going swimmingly, and their collaborators in our government are doing an excellent job for them.
In the 36 years we've been in the EU around 60,000 EU sympathisers have been moved into all the positions of power right across our government; their only fear is that the 62 milllion of us might get together and stop them.
Sunday, 3 May 2009
« on: April 19, 2009, 04:09:17 PM »
The EU's deliberate credit crunch
High interest rates and house repossessions next.
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