Thursday, February 4, 2010

Not long now

Greece crisis: There but for the grace of God goes Britain

Should markets pass the same verdict on Britain as on Greece, the results would be almost identical - and just as disastrous, says Edmund Conway. ...both main political parties should, as a matter of course, prepare detailed emergency plans saying what overnight cuts they would impose in the event of a similar crisis.

Posted by devo @ 09:31 PM (1967 views)
Please complete the required fields.



15 thoughts on “Not long now

  • I think we’re at the start of the final chapters in the book. Stock up with firewood from the woods, tins of betterbuy rice pudding, and a can opener (eat it cold)!!!

    Reply
    Please complete the required fields.



  • UK Debt slave writes….

    There is a great untold story here and more and more people are beginning to grasp how all governments operate in perpetual bankruptcy and their only access to funds when tax revenues have been exhausted is to borrow money from the central bank, in our case The Bank of England. Very few people ever ask themselves why government doesn’t create its own interest free money to service public works and provide enough money to grease the wheels of society. If central banks have the power to create money from nothing and charge interest on every penny, then why can’t government create its own money interest free? Abraham Lincoln asked exactly the same question. So did JF Kennedy and he actually signed an executive order granting the US Treasury the power to issue silver backed dollars independently from the Federal Reserve System. He was assassinated shortly afterwards.

    The bankers have created a system that has turned every man and woman on the planet into a slave to their monetary system. Instead of money being backed by tangible assets such as gold or silver, virtually all money in existence is interest bearing debt. The surety for the debts created in this system is nothing less than the future sweat labour of the people. Therefore, we are all chattels of the bankers and we are pledged to work our entire lives to service the debts of our governments and for our own personal debts…which are unavoidable. You cannot exist outside the debt based monetary system.

    The profits made by the central banks are unimaginable because they are effectively skimming a slice off every debt in existence. What a scam! The private banking system isn’t what it seems either. Despite the different names on every high street, the private banking system is an immense closed loop system. All money is constantly being recirculated through the banking system and new loans created. It actually operates like a single super-organism, “a vampire squid with its tentacles wrapped around the face of humanity.” is how I heard someone describe it recently.

    The next question people should ask themselves is, if all governmnets are operating in bankruptcy and the central bankers are the receivers for that bankruptcy, then who controls the central banks?

    The answer to that is the Bank of International Settlements in Basle, Switzerland. They act as the global receiver for all bankrupt governmnets. How on earth such an entity can control the policies of the Bank of England or any other central bank, absolutely beyond the jurisdiction and scrutiny of governments, parliaments, congresses, or any other elected representatives of the people is absolutely beyond me!!!!!! Just think about it. A privately owned bank in Switzerland regulates the Bank of England! That’s insane!

    One of the most telling quotes I have read is one written by Colonel Edward Mandell House. He was an advisor to Woodrow Wilson, the US president who was armtwisted into surrendering America to the bankers in 1913. He stated in his memoirs:

    Very soon, every American will be required to register their biological property
    (that’s you and your children) in a national system designed to keep track of the people and that will operate under the ancient system of pledging. By such methodology, we can compel people to submit to our agenda,
    which will affect our security as a charge back for our fiat paper currency.

    Every American will be forced to register or suffer being able to work and earn a living. They will be our chattels (property) and we will hold the security interest over them forever, by operation of the law
    merchant under the scheme of secured transactions.

    Americans, by unknowingly or unwittingly delivering the bills of lading (Birth Registration Certificate) to us will be rendered bankrupt and insolvent, secured by their pledges.

    They will be stripped of their rights and given a commercial value designed to make us a profit and they will be none the wiser, for not one man in a million could ever figure our plans and, if by accident one
    or two should figure it out, we have in our arsenal plausible deniability. After all, this is the only logical way to fund government, by floating liens and debts to the registrants in the form of benefits and privileges. This will inevitably reap us huge profits beyond our wildest expectations and leave every American a
    contributor to this fraud, which we will call “Social Insurance.” Without realizing it, every American will
    unknowingly be our servant, however begrudgingly. The people will become helpless and without any hope for their redemption and we will employ the high office (presidency) of our dummy corporation (USA) to
    foment this plot against America. – Colonel Edward Mandell House

    This system of ‘pledging’ the labour of the people to service a fictional bankruptcy was modelled after the British system. It was after all, the British who invented the modern central banking system.

    Your Birth Registration Certificate (the original held by the GRO) is actually a stock certificate. We are all cattle without realizing it. The stock held by the Bank of England is not gold or silver……IT IS YOU! YOU are the surety for their fiat currency system. YOU are a slave. WE are ALL slaves of the bankers.

    UK Debt slave
    on February 04, 2010
    at 02:32 PM
    http://www.telegraph.co.uk/finance/comment/edmundconway/7153169/Greece-crisis-There-but-for-the-grace-of-God-goes-Britain.html

    Reply
    Please complete the required fields.



  • * NUTTER ALERT * * NUTTER ALERT *

    Reply
    Please complete the required fields.



  • Pauls learnt a new trick! LOL

    Reply
    Please complete the required fields.



  • Greece has come up with a plan to reduce the deficit which experts believe

    a) may not be enough
    b) will hard to achieve.

    The market obviously did not buy it either, and we have not really seen a wave of approval around Europe. If Greece wants to further they will have to start cutting entitlements and will face strikes which won’t help the problem, so it leaves us most likely with some form of loan or bailout.
    The EU won’t let the IMF step in on their turf as it would be too humiliating, especially since this is the first harsh economic test for the union. The problem is that left holding the bag would probably be Germany (there are not that many candidates around the EU that can step in and help Greece, especially with Portugal and Spain waiting in line!). No wonder that today the German CDS was trading 8bps wider. As mr. Almunia said: in the EU there are no defaults! That does not bode well, because bail out or not, the problems of the EU are only beginning.

    http://www.zerohedge.com/article/whos-laughing-now

    Reply
    Please complete the required fields.



  • Britain is different from the other EURO countries, we are still in control of our own currency.
    History shows us that in the past when greece had the drachma as the yeilds increased fo their govt debt it would have been offfset by the currency being devlaued. Unfortunately this is not possibly as they have a fixed exchenge rate , ie the same currency , with the rest of the eu countries. so they will unfortunately have to decide either to be the sacrificial lambs of europ of leave the EU currency experiment.
    Uk is not in this situation we our currency simply devalues in relation to the EU. But then if the EU countries aren’t working together then I think we will find the eu becomes wrth less as well.
    Basically the value of a currency comes down to a govts ability to collect taxes. I think GBP still has many years of future ahead of it.
    HM

    Reply
    Please complete the required fields.



  • @paul

    That’s a bit harsh. I’m not into conspiracy theories but money and violence seem to have been good friends for a long time.

    Reply
    Please complete the required fields.



  • “in the EU there are no defaults”
    Socialize the losses….

    Simple choice: Libertarian or slave.

    Reply
    Please complete the required fields.



  • paul is frightened

    give him time to makes sense of things in his own way

    Reply
    Please complete the required fields.



  • Just to be clear, I’m not calling devo a nutter, only the poster UK Debt Slave. If they are one and the same, then well that is a bit of an odd post. The post assumes a Machievellian architect of an unprecedented power and competence. Meanwhile all we appear to have are ministers losing documents on trains and getting prosecuted for riding their expenses system – incompetently. Can’t you see how incongruous the reality is compared to UK Debt Slave’s post?

    It’s not really a new trick either – HPC is one of the few sites where the <marquee> and <blink> tags work – it would be a shame not to use them occasionally. Don’t take my nutter alerts too seriously – I’m happy to be shown wrong but I see people taking conspiracies far too seriously right now.

    Reply
    Please complete the required fields.



  • tyrellcorporation says:

    ‘You cannot exist outside the debt based monetary system.’

    Um, you can, I know of quite a few people who live in a teepee village in some woods near Honiton. They have no power, filter their own water from streams/rainwater, catch/grow their own food and live at one with nature. It wouldn’t be for me I have to say, but they’re the happiest people I know. Compare them to the farts at the golf club who roll in in their V8 Jags – by contrast they’re the unhappiest people I know.

    Somehow we’ve got it all wrong IMO.

    Reply
    Please complete the required fields.



  • [email protected]

    I think you’ve got it spot on. When travelling around the world, when you are in some of the poorer countries with non of the “mod cons” you can visibly see the poeple are a lot happier with their simpler way of live. They are also more friendly, more family orientated and generally more content. What have we got for all our money and modernity?

    Reply
    Please complete the required fields.



  • @Devo
    I think there is a good nugget of sense in debt slave’s fire and brimstone. Central banks or government *could* “print” money and spend it on goods and services, spending money into the economy without creating debt. For example, they could undertake to insulate the UK’s creaking housing stock, which would make sense from dozens of points of view. If we are in a situation of credit collapse, which we are, this is unlikely to contribute to inflation.

    The fly in the ointment for me is that there is still the problem of sensible policy in one country. The markets would react by hitting UK bonds and sterling, Moodys and Poor would downgrade us, etc., sure in the knowledge that the whole international financial community will contribute to this hit, drunk as they are on the self-serving ideology of free market capitalism. All the instruments that have been used to counteract developmentalism in the third would would be brought to bear on us. Could something like a unilateral Tobin tax help, or is the volume of these assets circulating outside the UK system so great that this would be ineffective?

    Reply
    Please complete the required fields.



  • And those folks in the Teepee village… do they have planning permission? I hope there isn’t some campaign run by the kind of folks at the golf club to smear them as new age travellers and turf them out. Which happens to Romanies, incidentally, even when they have bought the land.

    Reply
    Please complete the required fields.



  • happy mondays says:

    Permaculture, it will be the way forward…

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>