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Is Osborne Working For The Public Or The Banks?

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This is becoming so blatant it's almost embarrassing.

Osborne eyes looser liquidity regime

George Osborne is looking at ways in which Britain’s tough bank liquidity rules might be eased, potentially saving banks hundreds of millions of pounds and releasing funds for lending to businesses and homeowners.

The chancellor is said to be looking sympathetically at claims by the banks that Britain’s regulators have gone too far in their efforts to avoid another Lehman Brothers-style crisis and have put the City at an international disadvantage.

“The chancellor thinks there may be something in this,” said one Treasury official. Nick Clegg, deputy prime minister, and Vince Cable, business secretary agree.

The banks stepped up their demands for a looser liquidity regime as they pressed for a “level playing field” in the protracted peace talks, labelled Project Merlin, between the Treasury and the Square Mile.

Barclays said this week that funding its liquidity buffer, up 21 per cent to £154bn, had cost it £900m last year.

(More at link, or Google title if you're unable to access because of paywall)

PigSociety.jpg

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Cameron, Osborne, and Mervyn King live in fear of the Banks.

Nothing more on the matter can be said until Global Governments in unison agree the same song sheet, in the meantime the Banks will control Global Economies.

I have always felt that there is an "Emperors new clothes" situation with the banks and whoever else it is that supposedly "finances" the world's huge mountain of debt.

What we need are a few debtor nations saying "No, it stops here and now" and defaulting on their so called obligations to these con artists who hold the marker.

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For anyone who has not yet seen it, here is Bill Still's excellent film on the historic battle for control of the US money supply between the US government and the commercial banks:

http://www.youtube.com/watch?v=7qIhDdST27g

Once a supposedly sovereign nation hands over the issuance of its money to commercial banks, then effectively it loses that sovereignty.

To control the money supply is, over time, to control just about everything.

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and releasing funds for lending to businesses and homeowners

Haven't we already purchased this with the bailout? Does anybody- apart from the chancellor of course- really believe the banks would use these funds to invest in uk homes and business's ?

Luckily we have Vince Cable who will no doubt quiver his jowls in horror for a full five seconds before caving in to this new proposal.

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To control the money supply is, over time, to control just about everything.

Thus the CEOs of the Banks walk away with ridiculous ( Lottery Winning )Pay and Bonuses.

What I may ask what does a CEO do? His Staff make money, he gets the praise and takes the bows, his Staff lose money he gets the boot with a massive golden goodbye. You really can`t make it up.

Cue RBS. :rolleyes:

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Does anybody- apart from the chancellor of course- really believe the banks would use these funds to invest in uk homes and business's?

Exactly.

Barclays made £989m from UK retail banking in 2010. Meanwhile Barclays Capital (the trading/investment banking arm) made £4,389m.

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This is becoming so blatant it's almost embarrassing.

Osborne eyes looser liquidity regime

(More at link, or Google title if you're unable to access because of paywall)

PigSociety.jpg

The government is just the servant of the big boys. The one's whose names you rarely hear in the news. It really doesn't matter, in the end, who you vote for or whether the government is blue, red or yellow.

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Luckily we have Vince Cable who will no doubt quiver his jowls in horror for a full five seconds before caving in to this new proposal.

Cameron will cosset Vince Cable although he has taken away many of his powers.

If Cameron sacks Cable or Cable resigns, off he will go to join his fellow Lib/Dem MP on the Labour benches, not good politically for Cameron or the Tories they hate mavericks among their ranks. :D

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Exactly.

Barclays made £989m from UK retail banking in 2010. Meanwhile Barclays Capital (the trading/investment banking arm) made £4,389m.

I wonder how much of that £4,389m involed anything of any intrinsic value or wealth creation, rather than moving virtual money around, skimming off the top or selling debt.

I suppose it worked for a while and the players did well at the casino, however, a right old mess has been left behind.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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