Comments on: Who authorised £50,000,000,000 more?

By: StevenL

StevenL — Sat, 08 Aug 2009 23:29:58 +0000

“It wouldn’t surprise me if we are turnd into an Offshore penal colony for the EU.”

You mean like the French villain tries to do in ‘Johnny English’? Where do you get these ideas from?

By: Adrian Peirson

Adrian Peirson — Sat, 08 Aug 2009 15:08:33 +0000

They know exactlywhat they are doing, the EU cannot have a strong independant Britain off it’s shores.
It wouldn’t surprise me if we are turnd into an Offshore penal colony for the EU.
Oh and hundreds of Nuclear Power stations to power the EU, that whay if there are any mishaps, the effect on the EU Mainland is lessened.
None of this is down to stupidity, what is going on is beyond stupidity, therefore it is all by design.
Britain is being destroyed deliberately.

By: Adrian Peirson

Adrian Peirson — Sat, 08 Aug 2009 15:03:36 +0000

It’s called enforced enslavement to the Communist State Machinery, they set up £100 Billion per year Non Jobs / Quangos, Bailout the Banks to the tune of £100 Billlion plus, the EU, let’s say another £50 Billion per annum.
Oh and by the way, our children get to have this ‘Borrowed’ expenditure put on our their Tax bill.

It’s enslavement pure and simple, most of these people we are paying for do nothing Positive or Productive for our society, their Job is Purely to enforce the states rules upon us and take our Money.

What exactly do all these civil servants do.do they build cars, electronics, ships, do they farm or fish, no, they simple dream up rule to steal money from thise few in our society that do.
Perhaps if we all were allowed to fish, farm, build something of value, something we could trade other nations with, we wouldn’t have suffered from a the effects of the World Banking Casinos wouldnt have been able to bring us to our Knees.
But that was always the intention.

Take off all regulations, allow Bankers to Gamble with our money, fraudulently then say, oohhh, Look Capitalism has failed, we need more Socialism.

Capitalism hasn’t failed, in fact, we never had it.

This extra £50 Billion is Theft from our children, at gunpoint no less by the Political elites.

By: Waramess

Waramess — Sat, 08 Aug 2009 09:44:56 +0000

It certainly seems like it, doesn’t it? I for one would be interested to hear John Redwoods response to this post

By: Waramess

Waramess — Sat, 08 Aug 2009 09:38:44 +0000

There is currently 161 billion standing in the bank’s reserve accounts with the Bank of England.

No wonder QE is having no effect, the proceeds are all going into accounts with the Bof E, and all the hocus pocus talk wheeled out by the politicians can not obscure plain facts.

I would be very interested to be enlightened by someone why, if QE is supposed to stimulate spending, it is best done this way and not through tax cuts?

Yes, if we want to play this stupid game, print the money for the government to spend on their usual commitments and cut taxes that would otherwise be raised for that purpose.

By: Mike Stallard

Mike Stallard — Fri, 07 Aug 2009 16:10:29 +0000

Richard Adams on Labour List (He works for the Guardian:
“So, in English: the two forces pulling on the economy are the beneficial effects of the stimulus (tax cuts, government spending, lower interest rates and a weaker pound), versus the deadweight of the banks still not lending and consumers and businesses still laden with debts. Which side wins out isn’t clear, but there won’t be any inflation for a while.”

Notice from this statement:
1. It is all the banks’ fault. (This could account for all the hoo ha over bonuses this week.)
2. Government spending is a good thing in itself. (And has nothing to do at all in any way with QE).
3. Inflation has been conquered for the moment at least.
4. The economic stimulus has been provided by the brilliance of Gordon Brown and his team, irrespective of parliament, the Bank of England, etc. etc.
5. Taxes have been reduced quite considerably. (Sez who?)
6. The weak pound is a good thing, but inflation is conquered (see 3 above). (Isn’t the pound actually getting stronger?)

And every single one of your questions still stands unanswered by the very people who ought to be discussing it, our elected representatives in parliament.

By: Liz

Liz — Fri, 07 Aug 2009 13:10:59 +0000

Dear Simon,
It is pretty obvious by now that this Government does not believe in democracy in any shape or form. They get away with with these undemocratic actions bcause nobody challenges them – neither the opposition front benches nor most of the media. Because they get away with things they take even more power away from the electorate. How will a Conservative Government change this situation ? They have not said. It will be very tempting for them to carry on in this undemocratic way and the lack of fuss they are making now does not bode well.

By: Demetrius

Demetrius — Fri, 07 Aug 2009 12:22:40 +0000

In part they do. A good deal of this tranche of money will find its way offshore to bolster the capital reserves of some of the dodgier banks activities, and into various Trusts belonging to people with extensive connections to the government of one sort or another. The government hopes that some will find its way into pensions funds, who can be required to buy government stock, and enough equities to keep the FTSE afloat, and of course, the London property market. You and I wil be doing the paying.

By: Paul

Paul — Fri, 07 Aug 2009 12:06:57 +0000

At a wild guess, this £25bn is required to prop up a gap in the current finances, so that His Brownship can drone on at PMQs about having balanced the books or some such fantasy.

Socialism always fails when the money runs out (I think Mrs T said this first) ; when it fails there is no plan B or even thought of a rational discussion or planning, just running around in wild circles trying to desperately patch it up.

Socialists cannot conceive that their plans do not work. They work from beliefs, “what is fair” and idealised positions not reality. They just cannot grasp that there is *no money left in the pot* (let alone the overspending) and cuts will have to be made.

However badly their plans have failed (and can anyone think of a success ? Is there anything from 1997 to today worth keeping ?) there is always the excuse that they just need to do it a bit more and have a bit more money and everything will somehow work out.

By: oldtimer

oldtimer — Fri, 07 Aug 2009 10:13:18 +0000

The BofE pamphlet on QE says it is to keep inflation close to 2%. Yet my experience is that inflation on everyday spending is already above that rate – I do not believe the official inflation data is relevant to ordinary mortals. I conclude that it is for another reason – to fund HMG, which is unable to raise money any other way, and to give an impression of economic recovery ahead of the next election..