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	<title>Comments on: Who will buy my lovely bonds?</title>
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		<title>By: UK House Prices – How Low Will they go? &#171; Manicbeancounter&#8217;s Weblog</title>
		<link>http://johnredwoodsdiary.com/2009/03/26/who-will-buy-my-lovely-bonds/#comment-13287</link>
		<dc:creator>UK House Prices – How Low Will they go? &#171; Manicbeancounter&#8217;s Weblog</dc:creator>
		<pubDate>Mon, 30 Mar 2009 22:07:31 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=3241#comment-13287</guid>
		<description>[...] rates will have to rise sharply in the medium term (18 to 48 months), to enable the government to cover the huge borrowings, whilst competing for funds against other countries. We are heading for budget deficits well in [...] </description>
		<content:encoded><![CDATA[<p>[...] rates will have to rise sharply in the medium term (18 to 48 months), to enable the government to cover the huge borrowings, whilst competing for funds against other countries. We are heading for budget deficits well in [...]</p>
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		<title>By: Adrian Peirson</title>
		<link>http://johnredwoodsdiary.com/2009/03/26/who-will-buy-my-lovely-bonds/#comment-13286</link>
		<dc:creator>Adrian Peirson</dc:creator>
		<pubDate>Fri, 27 Mar 2009 20:57:38 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=3241#comment-13286</guid>
		<description>Obviously you do not know that the Bank of England, just like the Federal Reserve is a Private Company run entirely for Ofshore interests.


http://www.youtube.com/results?search_type=&amp;search_query=the+federal+reserve+private+company</description>
		<content:encoded><![CDATA[<p>Obviously you do not know that the Bank of England, just like the Federal Reserve is a Private Company run entirely for Ofshore interests.</p>
<p><a href="http://www.youtube.com/results?search_type=&#038;search_query=the+federal+reserve+private+company" rel="nofollow">http://www.youtube.com/results?search_type=&#038;search_query=the+federal+reserve+private+company</a></p>
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		<title>By: Mike Wilson</title>
		<link>http://johnredwoodsdiary.com/2009/03/26/who-will-buy-my-lovely-bonds/#comment-13285</link>
		<dc:creator>Mike Wilson</dc:creator>
		<pubDate>Fri, 27 Mar 2009 10:52:09 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=3241#comment-13285</guid>
		<description>With all due respect Mr. Redwood, your actions in the Commons do not reach the country. I am sure, within the framework you senior guys have agreed, you have been criticising the government.

But the speech made by Daniel Hannan was masterful - like a boxer finishing off the guy on the ropes.

Over a MILLION hits on YouTube now for his speech. ZanuLabour seem to have an iron grip on the BBC and Channel 4. Great to see that the internet is slowly but surely making them redundant.

I think the message from the Opposition should be kept simple and endlessly repeated - like Brown&#039;s nonsensical &#039;do nothing&#039; jibes at you.

&quot;Brown has led this country into disaster - and with ever action he takes - he is making it worse.&quot;

This is a pretty safe bet as a message because things are going to get worse.

Brown and his cabal spout &#039;global problem - global solution - tories would do nothing&#039; all the time.

It&#039;s time his record was properly rubbished - all the time - in the same way that Daniel Hannan did in Strasbourg.

Reply: Yes, I too admire Daniel&#039;s speech. To show others of us also make strong speeches about the current mess, I am going to put a video version of my last Commons speech on the economy on here, to supplement the text, to see  if that appeases you!</description>
		<content:encoded><![CDATA[<p>With all due respect Mr. Redwood, your actions in the Commons do not reach the country. I am sure, within the framework you senior guys have agreed, you have been criticising the government.</p>
<p>But the speech made by Daniel Hannan was masterful &#8211; like a boxer finishing off the guy on the ropes.</p>
<p>Over a MILLION hits on YouTube now for his speech. ZanuLabour seem to have an iron grip on the BBC and Channel 4. Great to see that the internet is slowly but surely making them redundant.</p>
<p>I think the message from the Opposition should be kept simple and endlessly repeated &#8211; like Brown&#8217;s nonsensical &#8216;do nothing&#8217; jibes at you.</p>
<p>&#8220;Brown has led this country into disaster &#8211; and with ever action he takes &#8211; he is making it worse.&#8221;</p>
<p>This is a pretty safe bet as a message because things are going to get worse.</p>
<p>Brown and his cabal spout &#8216;global problem &#8211; global solution &#8211; tories would do nothing&#8217; all the time.</p>
<p>It&#8217;s time his record was properly rubbished &#8211; all the time &#8211; in the same way that Daniel Hannan did in Strasbourg.</p>
<p>Reply: Yes, I too admire Daniel&#8217;s speech. To show others of us also make strong speeches about the current mess, I am going to put a video version of my last Commons speech on the economy on here, to supplement the text, to see  if that appeases you!</p>
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		<title>By: Freddy</title>
		<link>http://johnredwoodsdiary.com/2009/03/26/who-will-buy-my-lovely-bonds/#comment-13284</link>
		<dc:creator>Freddy</dc:creator>
		<pubDate>Thu, 26 Mar 2009 18:31:50 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=3241#comment-13284</guid>
		<description>&quot;What exactly backs Govt Gilts, Surely it is our Taxes&quot;
No, it is the Bank of England&#039;s ability to create money.

&quot;If the Private Banks have a monopoly on printing money&quot;
They don&#039;t. Only the Bank of England can create money; private banks cannot do so.

Please go and study the diference between Fractional Reserve Ratios and Capital Adequacy Ratios.</description>
		<content:encoded><![CDATA[<p>&#8220;What exactly backs Govt Gilts, Surely it is our Taxes&#8221;<br />
No, it is the Bank of England&#8217;s ability to create money.</p>
<p>&#8220;If the Private Banks have a monopoly on printing money&#8221;<br />
They don&#8217;t. Only the Bank of England can create money; private banks cannot do so.</p>
<p>Please go and study the diference between Fractional Reserve Ratios and Capital Adequacy Ratios.</p>
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		<title>By: StevenL</title>
		<link>http://johnredwoodsdiary.com/2009/03/26/who-will-buy-my-lovely-bonds/#comment-13283</link>
		<dc:creator>StevenL</dc:creator>
		<pubDate>Thu, 26 Mar 2009 18:27:36 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=3241#comment-13283</guid>
		<description>What do you think &#039;quantitative easing&#039; and central bank balance sheet expansion is if it not creating new money out of thin air?

The USA, Japan, the UK are already at it from what I understand and it looks like the EU and the Swiss might join in.

What you&#039;re saying is that the UK should default on it&#039;s debts.  These debts are not all held by &#039;international banksters&#039; Adrian.  The norm is that when you approach 5 years away from retirement your pension fund move your life savings into government bonds.

You are suggesting robbing millions of 60 year old working class people for just about everything they have and if you can&#039;t understand these simple facts rather than just spout your conspiracy theories then I feel very sorry for you.

Mind you, I guess printing money could be seen as the same thing if the intention is to create an inflationary cycle in order to help governments, businesses and consumers deleverage.

Is it any wonder the Chinese are calling for a new reserve currency?  Perhaps they could use it to store peoples pension pots as they approach retirement to keep it safe from desperate governments.</description>
		<content:encoded><![CDATA[<p>What do you think &#8216;quantitative easing&#8217; and central bank balance sheet expansion is if it not creating new money out of thin air?</p>
<p>The USA, Japan, the UK are already at it from what I understand and it looks like the EU and the Swiss might join in.</p>
<p>What you&#8217;re saying is that the UK should default on it&#8217;s debts.  These debts are not all held by &#8216;international banksters&#8217; Adrian.  The norm is that when you approach 5 years away from retirement your pension fund move your life savings into government bonds.</p>
<p>You are suggesting robbing millions of 60 year old working class people for just about everything they have and if you can&#8217;t understand these simple facts rather than just spout your conspiracy theories then I feel very sorry for you.</p>
<p>Mind you, I guess printing money could be seen as the same thing if the intention is to create an inflationary cycle in order to help governments, businesses and consumers deleverage.</p>
<p>Is it any wonder the Chinese are calling for a new reserve currency?  Perhaps they could use it to store peoples pension pots as they approach retirement to keep it safe from desperate governments.</p>
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		<title>By: mikestallard</title>
		<link>http://johnredwoodsdiary.com/2009/03/26/who-will-buy-my-lovely-bonds/#comment-13282</link>
		<dc:creator>mikestallard</dc:creator>
		<pubDate>Thu, 26 Mar 2009 18:01:25 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=3241#comment-13282</guid>
		<description>In all fairness our host has been warning us that this was going to happen: Mr Brown issuing IOUs when he has not got the ability to honour them is bound to end in tears.
Money lenders are not - and never have been - stupid people. They make it their business to know.
My own problem is this: is Mr Brown man enough to heed the warning of the unwanted gilts? Apparently, he has decided to cut back on government borrowing. But we shall see.

PS I do hope that his enormous (and utterly justified) success has not gone to young Mr Hannan&#039;s head.</description>
		<content:encoded><![CDATA[<p>In all fairness our host has been warning us that this was going to happen: Mr Brown issuing IOUs when he has not got the ability to honour them is bound to end in tears.<br />
Money lenders are not &#8211; and never have been &#8211; stupid people. They make it their business to know.<br />
My own problem is this: is Mr Brown man enough to heed the warning of the unwanted gilts? Apparently, he has decided to cut back on government borrowing. But we shall see.</p>
<p>PS I do hope that his enormous (and utterly justified) success has not gone to young Mr Hannan&#8217;s head.</p>
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		<title>By: Mike Wilson</title>
		<link>http://johnredwoodsdiary.com/2009/03/26/who-will-buy-my-lovely-bonds/#comment-13281</link>
		<dc:creator>Mike Wilson</dc:creator>
		<pubDate>Thu, 26 Mar 2009 15:19:01 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=3241#comment-13281</guid>
		<description>I find it frustrating. If Cameron doesn&#039;t take this opportunity to discredit Brown, there is a chance that things will have bottomed out by 2010 - Labour will play the &#039;you don&#039;t want a couple of inexperienced Old Etonian twits running the country&#039; card - and, (where is my exit visa) - this lot get another term to further ruin the country.

Until now I&#039;ve though Cameron&#039;s waiting game was spot on - but the mess Brown is getting us into now with his incessant borrowing has to be opposed.

In 2003 Vince Cable warned Brown about the state of the nation&#039;s finances - in particular the growth in personal debt. Brown laughed in his face and told him he knew more about running the country&#039;s finances than Cable.

To take Daniel Hannan&#039;s analogy further, I can see Brown standing on deck, saluting with that awful smile on his face, as the ship finally sinks below the waves as the burden of debt finally makes the ship too heavy.

Is Daniel Hannan the ONLY person who is going to point out the Emperor has no clothes on?

Reply: What do you think I have been doing for the last year in the Commons? And  haven&#039;t you noticed David Cameron&#039;s strong questions on debt and disaster, and the Opposition day debate on this topic last week?</description>
		<content:encoded><![CDATA[<p>I find it frustrating. If Cameron doesn&#8217;t take this opportunity to discredit Brown, there is a chance that things will have bottomed out by 2010 &#8211; Labour will play the &#8216;you don&#8217;t want a couple of inexperienced Old Etonian twits running the country&#8217; card &#8211; and, (where is my exit visa) &#8211; this lot get another term to further ruin the country.</p>
<p>Until now I&#8217;ve though Cameron&#8217;s waiting game was spot on &#8211; but the mess Brown is getting us into now with his incessant borrowing has to be opposed.</p>
<p>In 2003 Vince Cable warned Brown about the state of the nation&#8217;s finances &#8211; in particular the growth in personal debt. Brown laughed in his face and told him he knew more about running the country&#8217;s finances than Cable.</p>
<p>To take Daniel Hannan&#8217;s analogy further, I can see Brown standing on deck, saluting with that awful smile on his face, as the ship finally sinks below the waves as the burden of debt finally makes the ship too heavy.</p>
<p>Is Daniel Hannan the ONLY person who is going to point out the Emperor has no clothes on?</p>
<p>Reply: What do you think I have been doing for the last year in the Commons? And  haven&#8217;t you noticed David Cameron&#8217;s strong questions on debt and disaster, and the Opposition day debate on this topic last week?</p>
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		<title>By: chris southern</title>
		<link>http://johnredwoodsdiary.com/2009/03/26/who-will-buy-my-lovely-bonds/#comment-13280</link>
		<dc:creator>chris southern</dc:creator>
		<pubDate>Thu, 26 Mar 2009 14:15:06 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=3241#comment-13280</guid>
		<description>The gilt bubble has been ready to burst for some time, we are now witnessing the start of it.
The housing market bubble may have hurt those caught up in it (as well as savers,) but the gilt bubble will effect us all, especialy as the public sector is growing.</description>
		<content:encoded><![CDATA[<p>The gilt bubble has been ready to burst for some time, we are now witnessing the start of it.<br />
The housing market bubble may have hurt those caught up in it (as well as savers,) but the gilt bubble will effect us all, especialy as the public sector is growing.</p>
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		<title>By: Adrian Peirson</title>
		<link>http://johnredwoodsdiary.com/2009/03/26/who-will-buy-my-lovely-bonds/#comment-13279</link>
		<dc:creator>Adrian Peirson</dc:creator>
		<pubDate>Thu, 26 Mar 2009 13:08:09 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=3241#comment-13279</guid>
		<description>What exactly backs Govt Gilts, Surely it is our Taxes, IE we and our children have just been enslaved, without us having a voice in the matter.

If Govt Borrows £100 Billion, it has to pay back £100 Billion PLUS INTEREST, If the Private Banks have a monopoly on printing money ( out of thin air ), where does the Money come from to pay back this debt plus the Interest.

It can only come from Borrowing more money, this is why Govt Debt can never be repaid, it can only increase ( just as it has done ) and why unbacked fiat currencies must Always spiral into oblivion, just like we see happening now.

There is a solution, simply tell the International Banksters they conjured their money out of fractional reserve thin air, all we owe them is for the paper it&#039;s printed on, Give them £1 Million and tell them to keep the change.

Debt paid off. Sorted.

Of course when you tell them this you should have a squad of SAS with you, unless you want to end up like JFK did, five months after signing Executive order 11110 ordereing the US Treasury to begin issuing its own currency, free of charge rather than Borrow it from the PRIVATE Federal reserve.</description>
		<content:encoded><![CDATA[<p>What exactly backs Govt Gilts, Surely it is our Taxes, IE we and our children have just been enslaved, without us having a voice in the matter.</p>
<p>If Govt Borrows £100 Billion, it has to pay back £100 Billion PLUS INTEREST, If the Private Banks have a monopoly on printing money ( out of thin air ), where does the Money come from to pay back this debt plus the Interest.</p>
<p>It can only come from Borrowing more money, this is why Govt Debt can never be repaid, it can only increase ( just as it has done ) and why unbacked fiat currencies must Always spiral into oblivion, just like we see happening now.</p>
<p>There is a solution, simply tell the International Banksters they conjured their money out of fractional reserve thin air, all we owe them is for the paper it&#8217;s printed on, Give them £1 Million and tell them to keep the change.</p>
<p>Debt paid off. Sorted.</p>
<p>Of course when you tell them this you should have a squad of SAS with you, unless you want to end up like JFK did, five months after signing Executive order 11110 ordereing the US Treasury to begin issuing its own currency, free of charge rather than Borrow it from the PRIVATE Federal reserve.</p>
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		<title>By: James Morrison</title>
		<link>http://johnredwoodsdiary.com/2009/03/26/who-will-buy-my-lovely-bonds/#comment-13278</link>
		<dc:creator>James Morrison</dc:creator>
		<pubDate>Thu, 26 Mar 2009 12:35:59 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=3241#comment-13278</guid>
		<description>Agreed, Daniel Hannan&#039;s speech was brilliant.  David Cameron won&#039;t do it because, sadly, the Tories do not offer us any alternative.  Sorry that is a bit harsh on JR and a few others, but the Tories who hold the power in the party at the moment can best be summed up by Cameron&#039;s assurance that he is &quot;the heir to Blair&quot;.....

The next election will give us all a choice between Nu Labour and Blue Labour, plain and simple.</description>
		<content:encoded><![CDATA[<p>Agreed, Daniel Hannan&#8217;s speech was brilliant.  David Cameron won&#8217;t do it because, sadly, the Tories do not offer us any alternative.  Sorry that is a bit harsh on JR and a few others, but the Tories who hold the power in the party at the moment can best be summed up by Cameron&#8217;s assurance that he is &#8220;the heir to Blair&#8221;&#8230;..</p>
<p>The next election will give us all a choice between Nu Labour and Blue Labour, plain and simple.</p>
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