Conservatives will 'save' economy by licking BoE boots

This is who all you good people who disliked Labour era totalitarian trends are going to vote for? I don't want to goosestep on either my right or my left foot, thanks.


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.