Monday, 20 July 2009
Conservatives will 'save' economy by licking BoE boots
Daily Mail - Tory superbank: Osborne to scrap watchdog and give Bank of England powers to stop meltdown
The Bank of England will become a 'superbank' with unparalleled powers to prevent another financial meltdown under Tory plans announced today.
In a historic move, the Conservatives will give the Bank sweeping controls to regulate banks and building societies.
The plans are Shadow Chancellor George Osborne's attempt to seize the mantle of reform from Gordon Brown, who granted the Bank independence to set interest rates when Labour won power in 1997.
The Tories will complete the revolution by handing it control of curbing bubbles in the housing market and consumer debt, clamping down on obscene City bonuses, and preventing future financial implosions.
"curbing bubbles in the housing market" LOL! Perhaps the typist made a little mistake and they meant to say 'causing', as is the real case?
Also, I love how it is treated as a coincidence that the BoE got 'independence' to dictate interest rates 12 years ago and since we have seen nothing but a huge credit bubble inflate and then burst. Oops! Better give the same people more power then.
Problem - Greed, bonuses, corruption, bailouts, waste, sense of economic injustice
Reaction - "We need to do something about the greedy bankers, they can't be trusted on their own"
Solution - We unleash banker-controlled regulators on everyone, to 'stop the bankers from misbehaving'. Thankfully we have a central bank (which is in no way owned by the same bankers who are to be 'regulated'), so our nation has a stable economy... (Whew! Imagine how dangerous a free market would be.)
Even if you are for more regulation and so on (I think outlawing fractional reserve practices and implementing sound monetary systems would be best), this isn't more oversight or accountability - it's LESS. Letting the bankers regulate themselves as they create money from nothing? Good idea, I can see that working...
It is fairly simple really. The road to hell is paved with the good, but misguided, intentions of the ordinary people, intentions that are carefully and covertly crafted by a few bankers, politicians and media heads.
This particular genius policy is being sold to us by Tory Shadow Chancellor George Osborne, a Bilderberg attendee. Enjoy, serfs.
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- ▼ Jul 2009 (33)
And You Tell Me There's No Suppressed Technology?
It's another of those 'conspiracy theories' that good citizens don't notice. Imagine the standard of living if all the secret technology was released to the public...we'd be "free and independent" as JFK said! No more poverty anywhere! Can you imagine being sick enough to withhold such technology from society just to maintain your position of control? (Bearing in mind that we don't know just how much technological capability is being withheld, because, duh, it's secret.) What did Nikola Tesla really develop?
Individual Liberty? But that's "selfish"!
No, we need to look after each other voluntarily without having a government do all that at gunpoint. Sounds absurd at first but soon you realise that the reason it sounds so is because of the very unfree nature of our current existence. Envision greater possibilities! Ok, some kind of massive wake-up would be needed before this kind of free, responsible, uncontrollable society could emerge. And that's what we are seeing day by day in the world - a massive waking up of the previously enslaved masses (including myself I must add!)