I listened to the Jeremy Vine radio show today and there was an article that was about the financial mess that is going on and how some see printing more cash as the solution !!! .
What do they think has been going on for the last decade ??What do they think has been going in with the FED who have been printing worthless Mickey Mouse money since 2006 in HUGE amounts [no one except the FED knows how much] ??
And since the BOE abolished the gold reserve/standard and SOLD OFF all of the BOE gold reserves therefore giving the BOE and all other banks a licence to practice fractional reserve lending therefore opening the floodgates to creating a whole economy that is based on easy lending and a proliferation of mickey mouse money backed by NOTHING in circulation lent by banks who dont actually hold any real cash or assets except for shares in themselves so the banks have no actual reserves whatsoever.
Anyway there was this "Financial expert" talking on the show about how printing more money is the answer because Bernanke in the FED says this IS the solution .The solution being known as Quantative easing which means that the FED or the BOE print more cash and makes it available to the banks etc and eventually it trickles down to private individuals [if you are lucky].This is called artificially inflating an economy to fight the horrors of deflation as this genius thinks that we are heading towards a cycle of deflation which makes everything more expensive which ISNT happening because goods are being REDUCED to compensate for the fact we ARE in a recession I:E LESS cash.
This guy was talking rubbish as he claims that Quantative Easing does NOT involve the BOE printing more cash and injecting CASH into the economy [via banks/the taxpayer].Of course it fucking does and it has been going on for YEARS.
This guy was asked a question and his answer to a caller was as follows "The BOE will KILL me if i say they are printing MORE cash !".The BOE can inject cash into an economy WITHOUT actually printing more cash !!! How does that work ??
Once again the "Financial expert" does not understand Economics because he makes NO mention of Fractional Reserve Lending.Its almost as if Economists and Politicians are denying the fact that it exists AT ALL yet saying at the same time they have solutions which they clearly havent got as the answer is to STOP fractional reserve lending which is what i keep saying OVER and OVER again.Unfortunately though the situation is now irreversible as if FRL is abolished the economy will collapse as it is built on it.
The financial "expert" is either ignorant or he has been told what he can and cant say in answer to callers questions as he seemed to be unable to answer them.The callers were better informed including a 15 yr old schoolgirl.
It was a caller who brought up the subject of the GOvt abolishing the gold standard which started it all.
Anyway the "expert" couldnt get his head around the idea of the BOE bypassing the middleman/govt and practicing Quantative Easing by giving the money straight to the people to spend themselves therefore injecting it straight into the economy directly.
Why was this Moron jabbering on about deflation when its inflation and potentially hyper inflation that is the problem due to the billions i mean trillions of pounds/dollars that have been created out of NOTHING ????
What a fucking idiot.He is one of these people that i call "empty suits" who get paid for talking rubbish and spreading disinformation and misleading.As long as they get their pay they dont care as they are working for "the Man" and are enjoying riding the gravy train.Similar to journalists.
In theory this is GUARANTEED to fix an economy and increase high st spending etc etc BUT there is one small catch :Apart from the fact it wont happen the Govt would have to admit that the cash they are giving away to us to spend is intrinsically worthless as its backed by NOTHING.The only cost to the GOvt is the cost of printing it.
Its exactly the same with the FED.
SO WHY dont the Govt address this matter ??
Because they are being controlled by bankers/scammers who are unwilling to give up their CRIMINAL practices so in reality they are offering NO solutions because the problem cannot be the solution at the same time as its an Oxymoron.At least it is if the problem doesnt offer a solution but instead offers business as usual as a solution.
Its NOT a solution because Fractional reserve banking is UNSUSTAINABLE as we are now seeing.
Its like being surrounded by Morons.
Banks dont have ANY funds of their own to bail themselves out from their own criminal activities because it has all been handed out to shareholders who are also criminals who pocket their dividends year in year out.
This is a MAJOR flaw in the system so they all go crying to the Govt to be bailed out "by Monday or we will declare martial law !!!.
This was clearly demonstrated by Paulson earlier in the year when he made that announcement/threat to the US govt.He was panicking because he thought the banks were going to be allowed to go bankrupt which meant investigation [and criminal charges AND seizing of assets on or offshore] and we cant have that now can we ???
Make the worthless cash being injected into the economy debt free by not charging interest on each dollar/pound printed out of NOTHING to the taxpayer.
That would be a start.
Why the Fuck should we pay them money on top of money that is printed out of NOTHING ???
Someone find those illegal offshore slush funds.They are stuffed full of cash.
Can the Serfs/Peasents have some Quantative Easing please ????
"Yes you can but only if you go to the bank and borrow it !"
Increase the financial slavery by increasing the personal debt.