The State Bank of Debt

 

The Collective debt, not just of ourprofligate politicians, keen to please all of the people all of the time usingour own money, but of our private households is truly astounding. Long gone arethe days of careful spending, budgeting, saving, putting something aside for arainy day, we are all maxed out on credit cards, personal loans and mortgages.

Just today, the Belgians and the Frenchhave been called upon to support Dexia Bank after it was revealed that thosewise chaps had bought up huge chunks of Greek debt that will never be repaid bythe Greeks, so it’s down to the taxpayer once again to support a bank thatbecame too big to fail. Cameron advises that the UK starts to pay off private creditcard debt (in other words, save the banks) whilst grabbing as much taxation aspossible to pay off the debt racked up by the previous Government. All in all,your money is either going straight to the banks or via Government to the banks.

Meanwhile the European Central Bank isissuing worthless bonds it is not allowed to issue, whilst dictating to electedpoliticians how they must set their budgets and pensions. Voters in SouthernEurope now have no say over how their country is run, a diktat is issued fromunelected bankers and EU Officials in Brussels.The ballot box is now redundant, the banks grow bigger and more powerful andthe theft of your money and labour by States and banks continues unabated.

Of course, I take a great interest inthings Bulgarian at the moment, as I have decided to base myself there.Yesterday, their Parliament suggested that any Govt that has a deficit greaterthan 3% should be declared illegal (UK is currently around 10.7%, Greece has 10.5%). The prime minister politely reminded otherEU states that if they paid out the same rate of pensions as Bulgariansreceive, they wouldn’t be in the mess they are wallowing in. Of course, withincome tax and corporation tax fixed flat at 10%, the Bulgarian state knows it haslittle money to play and has no desire to enslave its citizens yet again. Norunning to the Central Bank in Sofiaand printing off a few billion Lev to fund a shiny motorway, Bulgarians deal ingood hard cash, hoarded under the mattress for decades.

Remember, debt IS slavery. Money is the crystallizationof labour and if you create money before the work is done, you are a slave tothat money. It owns you and your future labour. The past 50 years have seen oneof the biggest scams ever perpetuated by banks and politicians- have it now,your kids can pay, they’ll earn more than you ever did anyway and will be ableto afford what you cannot. Suddenly kids have realised that a degree in Aromatherapyand the Medium of Dance is not worth £9000 a year (now they have to pay for it,not me) and they are pretty soon going to twig that all this State debt isgoing to have to be paid off by them because we don’t have any money. Whateverwe have is already being fleeced off us by the State every time we spend orearn (up to 73% tax for some low earners SOURCE).

The solution? Let the banks that acquiredthe profligate debt caused by Politicians fail. To the wall with them, begonefoul moneylenders. The cosy relationship between banks and the access totaxpayers money must stop. Until it does, the very real risk of a bank becominga functioning State, able to dictate policy over citizens, able to extracttaxes instead of charges and able to control the entire money supply is simplytoo great to tolerate.

Don’t say you weren’t warned.

http://bastardoldholborn.blogspot.com/2011/10/state-bank-of-debt.html