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laurejon

Who Is Going To Pay For Economic Mismanagement By Gordon Brown

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As already predicted, it will be existing customers who have been prudent with their finances that will pay the price. The Banks and Building Societies have already made moves to increase charges to good customers in order to recoup their losses.

How can this be right, and what can we all do about it?

What are the consequences of the Bank of England bailing out Northern Rock on Friday, was this taxpayers money, and will they now extend this to other banks when the time comes?

From what I can make of the current crisis, those who excercised fiscal imprudence, both public and Government will be looking to joe public to bail them out via the tax and banking system.

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Guest DissipatedYouthIsValuable
As already predicted, it will be existing customers who have been prudent with their finances that will pay the price. The Banks and Building Societies have already made moves to increase charges to good customers in order to recoup their losses.

How can this be right, and what can we all do about it?

What are the consequences of the Bank of England bailing out Northern Rock on Friday, was this taxpayers money, and will they now extend this to other banks when the time comes?

From what I can make of the current crisis, those who excercised fiscal imprudence, both public and Government will be looking to joe public to bail them out via the tax and banking system.

I agree. This calls for civil disobedience on a massive scale.

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Guest DissipatedYouthIsValuable
It's a crime and the only thing you can do is to call the central banker's bluff. Withdraw your cash and buy gold. This will accelerate the demise of dishonest paper money which is the very root of today's situation.

I'm beginning to agree. Whilst I'm concerned that the shift in power is moved towards the gold hoarders, I think we need to take steps to remove ourselves from the banking system and rely on some token form of agreed commodity as an asset.

In Tibet, the Tibetans are so pissed off with the Chinese that they will only perform transactions with the Chinese if there is absolutely no way of avoiding it. Otherwise they just support the Tibetan economy by dealing purely with Tibetans.

Edited by DissipatedYouthIsValuable

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...I think we need to take steps to remove ourselves from the banking system and rely on some token form of agreed commodity as an asset.

Houses?

Something a bit more liquid than houses I feel. I'm not buying food with houses.

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I agree. This calls for civil disobedience on a massive scale.

I totally agree with your sentiment but alas I feel it's already too late.

Thanks to the bogus 'war on (of) terror' we are now living in a fascist country so those who are brave enough to rebel will be destroyed. Also because of all the gun and knife amnesties we will have no means with which to defend ourselves against the state. With the impending economic crash I expect a major war will be engineered by the global elite in order to distract the sheeple just as they face economic ruin.

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I totally agree with your sentiment but alas I feel it's already too late.

Thanks to the bogus 'war on (of) terror' we are now living in a fascist country so those who are brave enough to rebel will be destroyed. Also because of all the gun and knife amnesties we will have no means with which to defend ourselves against the state. With the impending economic crash I expect a major war will be engineered by the global elite in order to distract the sheeple just as they face economic ruin.

Passive resistance. Hold cash and gold only. It's anonymous, and then we have the power.

Edited by DissipatedYouthIsValuable

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It has become increasingly difficult to keep independent of the financial system that has been created (and with it all the other forms of control with which we are becoming enslaved).

It is fairly simple to use cash for all day to day transactions, but it is virtually impossible to avoid the financial system for major transactions. Share dealing, house buying/selling, trading and so on all require the banking system. Large cash transactions are reported to Gordon. You might be able to hoard gold but to spend it you need to convert it.

I guess one of the best ways for people in general to rid themselves of the tyranny of the banks would be to stop borrowing altogether. No credit cards, no personal loans, no overdrafts, no mortgage.

With children now being virtually forced into becoming debtors at 18 if they want a tetiary education, the next generation will find it even more difficult to avoid it.

What is needed is a real shake-out of the banking system and a separation of retail banks, from investment banks, from mortgage banks (building societies) from business banks, and an unravelling of a good deal of these derivative products which only exist to make banks more money. (I don't buy the argument about them improving efficiencies in the system, I think that is a con).

I don't think it will happen anytime soon.

Makes you think about the expression "neither a lender nor a borrower be" though and the reasons behind it.

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