Source: Wideshut.co.uk
By: David Bolwell, Oct 27th, 2010

George Osborne has just finished his spending review and has delivered the cuts that he believes will save Britain. I’m sure he knows well enough that nothing can save Britain and that to reduce the debt is just a pointless exercise. So what are the motives behind his budget? Well the first thing is that after years of Labour the size of government was massively expanded and a large number of society became hooked on welfare payments to survive. The role of the conservatives is to repay the bankers and destroy the middle class wealth while making sure the rest of us stay poor and in our place.

George Osborne has cut £81bn from the budget deficit that was originally £150bn. That still leaves a deficit of £70bn so the national debt will increase each year by £70bn. It will still top the £1trn mark by 2011. What the government has failed to tell us is what it plans to do about a trillion pound debt that is sitting in the corner. The two parties can play with the deficit all they like, but while they do so the debt grows and grows.

They both know that the debt can never be repaid, that we are a bankrupt country who are slaves to the moneylenders. According to Moneyweek “personal debt in the UK is at nearly £1.5 trillion.” On top of this, “company borrowings add nearly another £2 trillion to the debt pile.” Numis securities has estimated underlying public debt this year will reach 282% of annual GDP.

Numis also states:

“The firm’s estimate of unfunded public sector pension liabilities - that’s money that the government will have to pay out in pensions but which it doesn’t actually have right now - comes to almost £3trn. Add it all together, and Britain’s total debt mountain will stand at over 500% of GDP in 2010.”

The UK is bankrupt, but the politicians won’t tell you this. We owe more money than during the second world war! The only way the government can pay its debts is by selling more bonds (government gilts). This in the long run only increases the debt and devalues the pound further as investors lose faith in our creditworthiness. Printing money or quantitative easing as they like to call it only creates inflation. We see how that works for Zimbabwe. In the end the UK will be unable to fund itself, this is the truth that we are never told.

According to the Institute for Fiscal Studies (IFS) families with children will lose £2000 a year, equal to a 6.7% drop in income. Pensioners will lose 2.9% and childless couples 2.7% of their income. The Times reports “middle-class families are to lose an average of £10,000 each over the next four years as a result of the package of spending cuts and tax rises.” As a result of this massive robbery to fund the bankers, we are seeing a destruction of wealth that has never been witnessed in the UK before. Every family is being robbed and the wealth of the nation is being centralized into the hands of the banks that fund our country.

This vicious cycle is doomed to be repeated by Labour taking power in the future and growing government and the debt, then the conservatives cutting and repaying the bankers. This will continue until the country is bankrupt and no longer able to fund itself. When that happens its game over and the banks come to collect.

Until there is a politician that has the courage to challenge the authority of the BoE then there is no point in voting for anybody. Those in power do not work for us, they work for the money men. Until somebody suggests that our government should print its own money rather than let the central bank print it from debt, then any spending review is meaningless. Until we do away with fractional reserve banking and let banks only lend what they have then our economy will always be doomed.

Our money is debt, we can never be debt free. Trying to pay the debt is pointless. Until we change the system and print out own debt free money and have no central bank we will always be slaves to the heartless greedy rulers of the world who hide in the shadows and rob us blind.

Shame on all politicians for not having either the knowledge or courage to challenge the banks.

“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”

Thomas Jefferson

Substitute American for British and you can’t really say it better than this 200 year old quote.

Views: 40

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by Thomas Forsdike on October 29, 2010 at 9:36pm
I completely agree. We're spinning around the drain. Getting closer to collapse with each pass. Spend your money on useful long lasting items, if they even exist anymore.

"Destroying the New World Order"

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

TOP CONTENT THIS WEEK

Latest Activity

Old Denmark posted videos
24 minutes ago
Old Denmark favorited Central Scrutinizer's video
1 hour ago
Less Prone commented on Aaron's photo
Thumbnail

hillary-supreme-court

"That may be the prettiest face she has ever pulled."
1 hour ago
cheeki kea favorited Aaron's photo
2 hours ago
cheeki kea commented on Chris of the family Masters's blog post An Anonymous Nurse Speaks Out: The RT-PCR Test is Totally Unreliable, It Does not Detect the Virus.
" You won't hear much truth at all about the false tests they've make people submit…"
3 hours ago
Chris of the family Masters posted blog posts
5 hours ago
Phyllis Maka posted blog posts
7 hours ago
Mr. Sizzle commented on Central Scrutinizer's blog post TEXAS RESIDENTS WARNED OF TAP WATER TAINTED WITH BRAIN-EATING MICROBE
"“The microbe was also found in 2003 in an untreated geothermal well-supplied drinking water…"
8 hours ago
Mr. Sizzle favorited Central Scrutinizer's blog post TEXAS RESIDENTS WARNED OF TAP WATER TAINTED WITH BRAIN-EATING MICROBE
8 hours ago
Mr. Sizzle posted a photo
9 hours ago
Central Scrutinizer posted blog posts
9 hours ago
Mr. Sizzle commented on Aaron's photo
Thumbnail

anthony-weiner-laptop

"Trump is not a savior or a populist president and that is proven by his inability during his first…"
10 hours ago
Central Scrutinizer's video was featured

Ilhan Omar connected Ballot Harvester in cash-for-ballots scheme: "Car is full" of absentee ballots

Ilhan Omar connected Ballot Harvester in cash-for-ballots scheme: "Car is full" of absentee ballots
10 hours ago
Mr. Sizzle favorited Aaron's photo
10 hours ago
Mr. Sizzle commented on Mr. Sizzle's photo
Thumbnail

I thought it was funny.

"@JR LOL bro!!!  This:"
10 hours ago
Less Prone favorited Aaron's photo
11 hours ago
Less Prone commented on Aaron's photo
Thumbnail

anthony-weiner-laptop

"Promises, promises, that's politics. See this one."Trump praising Clintons!?…"
11 hours ago
James Roberts commented on Bob Renner's photo
Thumbnail

Talmudic Demon Jewess - Marina Abramovic Assaulted in Italy.webp

"Indeed, saw the vid, was funny as shit. Too bad someone couldn't have brought a marble bust…"
17 hours ago
James Roberts favorited Bob Renner's photo
17 hours ago
James Roberts favorited cheeki kea's photo
17 hours ago

© 2020   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted