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Hopeful Bear

Gordon Brown's Enron Style Accounting

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This may already have been posted but I didn't see it. It comes from David Davis' speech to the CBI conference: Davis: Creating a new spirit of enterprise

"Four years ago, our once prudent but now profligate finance director [Gordon Brown] forecast that he would borrow a modest £12 billion by April 2006. How wrong he was. Total borrowing over this period has so far reached £103 billion, … Enron-style accounting has become the order of the day in the Treasury.

They have been moved off the national balance sheet despite the fact that the only guarantor of this huge liability is the poor old taxpayer. But this figure is dwarfed by a far bigger scam - unfunded public sector pension liabilities.

These are claims on future tax revenues and the Pensions Commission estimates that at the end of last year this off-balance-sheet liability amounted to a staggering £500 billion.”

Since Enron style accounting is fraud, Davis is accusing Brown of fraud. Once this kind of accusation might have been conisdered libellous.

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Well if Bush can change the laws of physics with the collapse of the world trade centre and Brown can change the laws of mathematics then I think we are entering the 3rd dimension as we travel towards one of them invisible black holes that apparently make up 80% of the mass in our universe.

You are not reading this, you are a figment of my imagination and houses can keep going up 4ever :)

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Countries (Governments) can't become "bankrupt" can they?

Therefore, do "normal" accountancy rules apply?

As defined in the 2003-2004 treasury report for internal fraud

False Accounting: Dishonestly destroying, defacing, concealing or falsifying any account, record or

document required for any accounting purpose, with a view to personal gain or

gain for another, or with intent to cause loss to another or furnishing

information which is or may be misleading, false or deceptive (Theft Act 1968)

Fraud Report

Same rules apply to government as to companies.

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Same rules apply to government as to companies.

Then why is the government allowed to have financial dealings with an organisation that is blatantly corrupt ? :angry:

EU accounts haven't been signed off by auditors for 11 years in a row now :blink:

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Then why is the government allowed to have financial dealings with an organisation that is blatantly corrupt ?

EU accounts haven't been signed off by auditors for 11 years in a row now

It’s cons law were one prisoner will not grass on another

Thieves honour and all that

Government is just as corrupt as the MAFIA but government is better at concealing their criminal activities which is easy once you control the police and just about everything else.

In Bulgaria the mafia knocks your door a few days after you move into a new house and demand £250 pa else they will burn your house, here Blair knocks the door and demands £2000 else he will put you in jail, give you a criminal record and stop you getting a job on release from jail.

Think I’ll prefer to pay the £250.

Did you know we now get 4 times the amount of drugs from Afghanistan hitting the streets here in the UK as we did before we invaded them.

Fund set up to remove drugs from Afghanistan fields. Comes in that it takes $500,000 to destroy 1 acre of drugs and remember labour is cheap in Afghanistan. CAN YOU GUESS WHO IS MAKING THE BIG MONEY NOW !

The system is so corrupt it all needs bringing down and nothing surprises me anymore.

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  • 336 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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