Dec 07

bernanke truchet brown

The Latest Revolving Door Farce: Bernanke, Trichet And Gordon Brown To Form Pimco Advisory Board:

The public-to-private sector “revolving door” has crossed into the macabre twilight zone.

Moments ago an announcement by giant bond manager (technically, these days “merely above average height” bond manager, considering the collapse in the TRF’s AUM since Bill Gross’ departure over a year ago) revealed that public service cronyism is not only alive, but has never been better, when in a press release it reported that former Fed Chairman Ben Bernanke, ex-U.K. Prime Minister Gordon Brown, and former ECB president Jean-Claude Trichet will form the backbone of a “global advisory board” at Pimco. Continue reading »

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Nov 17


YouTube

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Nov 29

Two-thirds of millionaires left Britain to avoid 50p tax rate (Telegraph, Nov 27, 2012):

Almost two-thirds of the country’s million-pound earners disappeared from Britain after the introduction of the 50p top rate of tax, figures have disclosed.

In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.

This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election.

Continue reading »

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Jul 11

Gordon Brown Sold Britain’s Gold at Artificially Low Prices to Bail Out a Large American Bank (Washingtons Blog, July 10, 2012):

Governments Don’t Manipulate the Price of Gold … Do They?

The Telegraph’s Thomas Pascoe reported Thursday:

One decision stands out as downright bizarre, however: the sale of the majority of Britain’s gold reserves for prices between $256 and $296 an ounce ….

When Brown decided to dispose of almost 400 tonnes of gold between 1999 and 2002, he did two distinctly odd things.

Continue reading »

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Jul 05

The Bank of England told us to do it, claims Barclays (Telegraph, July 3, 2012):

The Deputy Governor of the Bank of England encouraged Barclays to try to lower interest rates after coming under pressure from senior members of the last Labour government, documents have disclosed.

A memo published by Barclays suggested that Paul Tucker gave a hint to Bob Diamond, the bank’s chief executive, in 2008 that the rate it was claiming to be paying to borrow money from other banks could be lowered.

His suggestion followed questions from “senior figures within Whitehall” about why Barclays was having to pay so much interest on its borrowings, the memo states.

Barclays and other banks have been accused of artificially manipulating the Libor rate, which is used to set the borrowing costs for millions of consumers, businesses and investors, by falsely stating how much they were paying to borrow money.

The bank claimed yesterday that one of its most senior executives cut the Libor rate only at the height of the credit crisis after intervention from the Bank of England.

Continue reading »

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Nov 14

For your information.

The elitists vs. the people.



YouTube Added: 13.11.2011

For more information: Thrive

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Nov 01

David Cameron, like Gordon Brown before, is an elite puppet.

President Obama has already been proven to be worse than even G. W. Bush.

Presidents or Prime Ministers are not elected, but selected.



David Cameron has now backed plans to sneak changes into the Lisbon Treaty

BRITONS have been robbed of the chance to vote on a power grab by Brussels despite promises of a referendum.

In the wake of the Lisbon Treaty fiasco, David Cameron vowed Britain would never again give away powers to Brussels without first holding a referendum.

In a spectacular U-turn, however, Mr Cameron has now backed plans to sneak changes into the Lisbon Treaty without triggering referendums across Europe.

It is a significant victory for German Chancellor Angela Merkel, who was last night dining with the Camerons at ­Chequers, the Prime Minister’s country retreat in Buckinghamshire.

At the Council of Ministers, Europe’s prime ministers and presidents backed “a limited treaty change” to deliver tighter fiscal discipline across the EU and a ­permanent bail-out fund for members of the eurozone. The change will create an “economic government” for Europe.

Nigel Farage, frontrunner to lead the UK Independence Party, said: “It is one of the most massive power grabs they have ever attempted but because it is so ­devilishly complicated this might just sneak through by default. But make no mistake, these are draconian powers and without a shadow of a doubt this should trigger a referendum.”

Leaders are petrified that any change to the EU treaties would spark referendums in the UK, Ireland and the Netherlands.

In Britain the EU Referendum Campaign has been launched calling on the ­Government to give the country the vote denied when Gordon Brown ratified the Lisbon Treaty. More than 5,000 Sunday Express readers signed up after we highlighted the campaign last week.

Continue reading »

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Sep 06

Flashback:

Former SAS Comander: Afghan operation is ‘worthless’:

And, addressing the use of Snatch Land Rovers, which he deemed to be unsafe and prompted his decision to stand down, he said: “I had to resign.

“I had warned (the MoD) time and time again that there were going to be needless deaths if we were not given the right equipment, and they ignored this advice. There is blood on their hands.

“There was no other vehicle to use. The simple truth is that the protection on these vehicles is inadequate and this led to the unnecessary deaths.”


The former head of the Army accuses Tony Blair and Gordon Brown of badly letting down the Armed Forces during the wars in Iraq and Afghanistan.

In a damning verdict, General Sir Richard Dannatt accuses Mr Brown of being a “malign” influence by failing to honour guarantees on defence spending during his time at the Treasury, and charges Mr Blair with lacking “moral courage” for failing to overrule his chancellor.

Gen Dannatt’s book, Leading from the Front, which begins its serialisation in The Sunday Telegraph today, is the first major public critique of the Blair/Brown administration by a senior outside figure who served under both men. He was Chief of the General Staff from 2006-09.

He describes his efforts to persuade Mr Blair and Mr Brown that the Army – fighting in both Iraq and Afghanistan and suffering heavy casualties – was facing almost unbearable pressures as “pushing a rock up a steep hill almost all the way through”.

His book is further evidence of the cripplingly dysfunctional nature of the relationship between Mr Blair and Mr Brown, which Mr Blair spelt out in his own memoir, A Journey, published this week.

The general also reveals in his book and in interviews for this newspaper that:

-By early 2009, at a time when the Army was suffering a punishing casualty rate in Afghanistan, he had not had a face-to-face meeting with Mr Brown for six months. Eventually he was forced to “ambush” the prime minister during a chance meeting in Horse Guards Parade to get his concerns across;

-The 1997-98 Strategic Defence Review (SDR), which set out a “good framework” for future defence policy, could not cope with troops being committed to Iraq and Afghanistan at the same time and was “fatally flawed” through being underfunded;

-The intelligence about weapons of mass destruction in Iraq under Saddam Hussein, cited as the main reason for Britain joining the United States in the 2003 war, was “most uncompelling”. Planning for the aftermath of the conflict was, he said, an “abject failure”.

Gen Dannatt reserves his strongest criticism for Labour’s two prime ministers, accusing them of letting down the troops they sent to Iraq and Afghanistan.

He writes in his book: “History will pass judgment on these foreign adventures in due course, but in my view Gordon Brown’s malign intervention, when chancellor, on the SDR by refusing to fund what his own government had agreed, fatally flawed the en tire process from the outset.

“The seeds were sown for some of the impossible operational pressures to come.”

Mr Blair “lacked the moral courage to impose his will on his own chancellor”.

The general also admits he was “bemused” by Mr Brown’s decision to write his book, Wartime Courage, about the generation that suffered so much in winning the Second World War. He adds: “I am still not sure whether he ever realised that by denying the proper funding of his own government’s declared policy, he was condemning more young men and women to the same sacrifices he railed against in a previous generation.”

Asked why he thought Mr Blair did not overrule Mr Brown, he replied: “To me it seems extraordinary that the prime minister, the No 1 guy, cannot crack the whip sufficiently to his very close friend apparently, his next door neighbour, the chancellor.

“In the war Cabinet that Margaret Thatcher put together in 1982 [during the Falklands conflict] there was no one from the Treasury. It’s tough to criticise lack of moral courage, but moral courage is what you need. Physical courage is a wonderful thing, but moral courage is actually doing the right thing at the right time.”

Gen Dannatt warns the Coalition that carrying on with the current rate of casualties in Afghanistan – where more than 100 servicemen were killed last year – would be unacceptable. “We’ve got to have cracked it by 2014, 2015,” he said.

By Patrick Hennessy and Melissa Kite
Published: 10:00PM BST 04 Sep 2010

Source: The Telegraph

More on the war on terror:

American Deaths In Afghanistan Surpass Highest Annual Record

US Colonel Lawrence Sellin Sacked After Afghan Rant

Al Qaeda Doesn’t Exist or How The US Created Al Qaeda (Documentary)

575 American Soldiers Have Died In Afghanistan During Barack Obama’s Presidency, The Same Number As During George Bush’s Entire Time In Office

Afghanistan Discovers 1.8 Billion Barrel Oilfield

US Afghan War: Unsustainable, Un-Winnable

President Obama Kills 66 More US Soldiers in July

Afghanistan War Logs: US Marines Sanitised Record of Bloodbath

‘Sangingrad’ Troop Withdrawal: Four Years In Hell, And Taliban Remain Undefeated

Audit: US Can’t Account For $8.7 Billion In Iraqi Cash

U.S. War Crimes: Cancer rate in Fallujah worse than Hiroshima

Gordon Brown On Saddam Hussein: ‘This New World Order That We Were Trying To Create Was Being Put At Risk’

Iraq inquiry: UK Government lied, ‘intentionally and substantially’ exaggerated WMD threat

U.S. To Buy Russian M-17 Helicopters For Afghan Air Force

The Truth About Afghanistan: ‘We’re f***ing losing this thing.’

Sacked General Stanley McChrystal created special forces military command centre ‘Death Star’ with ‘Kill TV’, led secret war raids

General Stanley McChrystal Recalled To Washington Over Rolling Stone Article

US ‘Discovers’ Vast Mineral Riches Worth Nearly $1 Trillion In Afghanistan

US ’secret war’ expands globally as Special Operations forces are deployed in 75 countries

German President Horst Köhler had to resign for telling the truth (!)

Afghans Are Convinced That The US Is Funding The Taliban

Taliban get £1,600 bounty for each Nato soldier killed

Taliban attack biggest NATO base in Afghanistan

President Obama Wins The Right to Detain People With No Habeas Review

Law Prof. David Glazier: CIA Drone Pilots Could Be Tried for ‘War Crimes’

German troops in Afghanistan call on Angela Merkel to explain why they are at war

Rioters vent fury at US after Nato troops kill Afghan civilians on bus

WikiLeaks Release: Classified US Military Video Depicts The Indiscriminate Slaying of Over a Dozen People in Iraq – Incl. Two Reuters News Staff

WikiLeaks Plans to Post Video Showing US Massacre of Afghani Civilians

Bush, Cheney and Rumsfeld ‘Knew Guantánamo Prisoners Were Innocent’

Obama Administration Approves Targeted Killing of American Cleric

WikiLeaks Release: Classified US Military Video Depicts The Indiscriminate Slaying of Over a Dozen People in Iraq – Incl. Two Reuters News Staff

US special forces soldiers dug bullets out of their victims’ bodies in the bloody aftermath of a botched night raid, then washed the wounds with alcohol before lying to their superiors about what happened

John Pilger: Have a Nice World War III, Folks

US shipping hundreds of powerful bunker buster bombs for coming attack on Iran

Secret Pentagon Spy Network Hired To ‘Track And Kill’

Rep. Ron Paul: Five Minute Speech in Support of Rep. Kucinich’s Afghanistan Resolution

US Drone Strikes in Pakistan: 1 in 3 Killed Are Civilians

US officials puzzle over millions of dollars in cash, well over $1 billion a year, leaving Afghanistan by plane for Dubai

Blackwater Guards Stole Hundreds Of Weapons In Kabul And Went On Deadly Rampage

Judge Napolitano and Angela Keaton on Freedom Watch: Obama’s Bush Foreign Policy

Cynthia McKinney at Munich Germany NATO Peace Rally: ‘My Country Has Been Hijacked By A Criminal Cabal’

The New Vision of the Obama Administration: War Without End

International Fund to Buy Off Taliban Leaders in Afghanistan Will Cost Hundreds of Millions

Ron Paul: US Foreign Policy is Bankrupting America

Pentagon backtracks after Defense Secretary Robert Gates ‘admits’ Blackwater operating in Pakistan

US Military Weapons Inscribed With Secret ‘Jesus’ Bible Codes (ABC News Investigation)

US Marine Commander: Afghan surge troops won’t target drug crops

Nobel Peace Laureate Obama seeks additional $33 billion for wars, on top of a record request for $708 billion for the Defense Department

Top US intelligence officer: ‘Afghan Insurgency Can Sustain Itself Indefinitely’ and ‘Time Is Running Out’

Afghanistan: Suicide bomber ‘kills four CIA agents’ after attacking CIA base, at least 8 Americans killed

Afghan CIA suicide bomber ‘was courted as potential informant’

857 US Soldiers Died in Afghanistan Region Since 2001

Obama’s surge comes at a cost: At least $57,077.60 per minute

Nato appeals to Russia for more help with the war in Afghanistan

US Forces Chief Admiral Mike Mullen Warns of More Fighting And Casualties in Afghanistan

Robert Fisk, The Independent’s award-winning Middle East correspondent: Obama is a Disaster, Worse than Bush

Rep. Dennis Kucinich: ‘These Wars Are Corrupting The Heart Of Our Nation!’

Rep. Dennis Kucinich: The Truth About Afghanistan

Obama administration tells Pakistan: Tackle Taliban or we will

Dennis Kucinich: ‘The war in Afghanistan is a threat to our national security’; ‘America is in the fight of its life and that fight is not in Afghanistan – it’s here’

Dennis Kucinich: Afghans ‘don’t want to be saved by us, they want to be saved from us.’

MSNBC Rachel Maddow: War President Obama

Ron Paul: ‘Obama is Actually Preparing Us For Perpetual War’

Afghanistan Surge to Cost At Least $40 Billion, That Is $1.333.333 For One US Soldier Per Year

President Obama ‘to deploy 30,000 troops to Afghanistan’

Obama: ‘I will promise you this, that if we have not gotten our troops out by the time I am President, it is the first thing I will do. I will get our troops home. We will bring an end to this war. You can take that to the bank.’ (!)

CIA Secret ‘Torture’ Prison Found at Fancy Horseback Riding Academy Outside Vilnius, Lithuania

British military forces told to ‘bribe’ the Taliban with ‘bags of gold’

Afghanistan: New 67-Million-Dollar US Prison At Bagram

The ‘Obama Market’ in Kabul: US Military Rations, Sleeping Bags, Tactical Goggles on Sale

Paul Craig Roberts: Republic of Fools & The Evil Empire

Rep. Eric Massa on Afghanistan: 2950 Days, 300 Billion Dollars, 911 Dead Americans – End the War, Bring back the Troops

Former UK ambassador: CIA sent people to Uzbekistan for extreme torture, to be ‘raped with broken bottles,’ ‘boiled alive’ and ‘having their children tortured in front of them’ (Must-read):

Murray asserts that the primary motivation for US and British military involvement in central Asia has to do with large natural gas deposits in Turkmenistan and Uzbekistan. As evidence, he points to the plans to build a natural gas pipeline through Afghanistan that would allow Western oil companies to avoid Russia and Iran when transporting natural gas out of the region.

Murray alleged that in the late 1990s the Uzbek ambassador to the US met with then-Texas Governor George W. Bush to discuss a pipeline for the region, and out of that meeting came agreements that would see Texas-based Enron gain the rights to Uzbekistan’s natural gas deposits, while oil company Unocal worked on developing the Trans-Afghanistan pipeline.

“The consultant who was organizing this for Unocal was a certain Mr. Karzai, who is now president of Afghanistan,” Murray noted.

“There are designs of this pipeline, and if you look at the deployment of US forces in Afghanistan, as against other NATO country forces in Afghanistan, you’ll see that undoubtedly the US forces are positioned to guard the pipeline route. It’s what it’s about. It’s about money, it’s about oil, it’s not about democracy.”

US official resigns over Afghan war: Foreign Service officer and former Marine captain says he no longer knows why his nation is fighting:

“I have lost understanding of and confidence in the strategic purposes of the United States’ presence in Afghanistan,” he wrote Sept. 10 in a four-page letter to the department’s head of personnel. “I have doubts and reservations about our current strategy and planned future strategy, but my resignation is based not upon how we are pursuing this war, but why and to what end.”

Three US helicopters crash in Afghanistan, 14 Americans killed

Morale dips for American marines in Afghanistan:

“I’m not much for this war. I’m not sure it’s worth all those lives lost,” said Sergeant Christian Richardson as we walked across corn fields that will soon be ploughed up to plant a spring crop of opium poppy.

Afghanistan opium production reaches 6,900 tons:

Opium production rate has soared to 6,900 tons in Afghanistan in the past 10 years ‘despite‘ the presence of 100,000 foreign troops in the country for nearly eight years.

A report by the UN Office on Drugs and Crime said on Wednesday that Afghanistan produces 92 percent of the world’s opium that has devastating global consequences.

The UN report also noted that Afghanistan’s illegal opium production is worth 65 billion dollars.

The heroin and opium market feeds 15 million addicts, with Europe, Russia and Iran consuming half the supply, UNODC reported.

Ron Paul: ‘The more troops we send the worse things get!’

Ron Paul On The US Afghanistan War Policy

Italians bribed the Taleban all over Afghanistan, say two senior Afghan officials

Pentagon spends $400 per gallon of gas in Afghanistan

I was ordered to cover up President Karzai election fraud, sacked UN envoy says

President Obama quietly deploying 13,000 more US troops to Afghanistan

Congressman Alan Grayson on Afghanistan

Ten more US soldiers killed in Afghanistan

Leaked Report: US Top Commander In Afghanistan Calls For More Troops Or War ‘Will Likely Result In Failure’

‘We’re pinned down:’ 4 US Marines die in Afghan ambush

Top US commander in Afghanistan: The Taliban have gained the upper hand:

The Taliban have gained the upper hand in Afghanistan, the top American commander there said, forcing the U.S. to change its strategy in the eight-year-old conflict by increasing the number of troops in heavily populated areas like the volatile southern city of Kandahar, the insurgency’s spiritual home. Gen. Stanley McChrystal warned that means U.S. casualties, already running at record levels, will remain high for months to come.

(Source: The Wall Street Journal)

General Sir David Richards: Afghanistan will take 30 to 40 years

Former SAS Comander: Afghan operation is ‘worthless’

US soldier in opium field

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soldier-afghanistan

AFGHANISTAN-OPIUM

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Jul 21


Added: 13. July 2010

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Mar 26

MPs and peers brand government’s definition of complicity in torture as ‘worrying’ and call for urgent independent inquiry

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Former Guantánamo Bay detainee Binyam Mohamed, whose alleged abuse in captivity sparked an inquiry into UK government complicty in torture. (Reuters)

The government’s definition of what constitutes complicity in torture has no basis in law, parliament’s joint committee on human rights warns today in a hard-hitting attack on its attitude towards the abuse of terror suspects.

Its narrow definition of complicity is “significant and worrying” and in light of evidence, notably in the Binyam Mohammed hearings, the case for an urgent independent inquiry into claims of involvement in torture is irresistible, the committee says in a report.

It says ministers gave evasive replies when it asked them what would amount to complicity under international law. But in evidence to the committee and in public statements both the home and foreign secretaries, and the head of MI5, came “very close to saying that, at least in the wake of 9/11, the lesser of two evils was the receipt and use of intelligence which was known, or should have been known, to carry a risk that it might have been obtained under torture, in order to protect the UK public from possible terrorist attack”.

The report adds: “This is no defence to the charge of complicity in torture.” The government changed the question from “does or should the official receiving the information know that it has or is likely to have been obtained by torture?” to “does the official receiving the information know or believe that receipt of the information would encourage the intelligence services of other states to commit torture?”

Under international law complicity does not require active encouragement, the committee says. The formula used by the government “appears to us to be carefully designed to enable it to say that, although it knew or should have known some intelligence it received was or might have been obtained through torture, this did not amount to complicity because it did not know or believe such receipt would encourage … torture by other states”.

Lady Manningham-Buller, the former head of MI5, appeared to go further in a speech this month: “Nothing, even saving lives, justifies torture.”

What constitutes complicity in torture and cruel, inhuman or degrading treatment is a key issue behind Gordon Brown’s refusal to publish new guidance given to MI5, MI6, and military intelligence officers, operating abroad.

Brown has also declined to publish criticism of the guidance by the Intelligence and Security Committee (ISC), whose members are handpicked by the prime minister. Continue reading »

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Mar 26

An honest answer would probably sound like: “The elite told me to do so.”


Gordon Brown has been ordered to release information before the general election about his controversial decision to sell Britain’s gold reserves.

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Gordon Brown pushed ahead with the of Britain’s gold despite serious misgivings at the Bank of England, it is believed Photo: REX/ALAMY

The decision to sell the gold – taken by Mr Brown when he was Chancellor – is regarded as one of the Treasury’s worst financial mistakes and has cost taxpayers almost £7 billion.

Mr Brown and the Treasury have repeatedly refused to disclose information about the gold sale amid allegations that warnings were ignored.

Following a series of freedom of information requests from The Daily Telegraph over the past four years, the Information Commissioner has ordered the Treasury to release some details. The Treasury must publish the information demanded within 35 calendar days – by the end of April.

The sale is expected to be become a major election issue, casting light on Mr Brown’s decisions while at the Treasury.

Last night, George Osborne, the shadow chancellor, demanded that the information was published immediately. “Gordon Brown‘s decision to sell off our gold reserves at the bottom of the market cost the British taxpayer billions of pounds,” he said. “It was one of the worst economic judgements ever made by a chancellor. Continue reading »

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Mar 13


Added: 13th Mar 10

Gerald Celente: ‘The Crash is Coming in 2010.’

The No.1 Trend Forecaster Gerald Celente: Financial Mafia Controlling US and Wall Street

Survivor, America: ‘It’s Only Going to Get Worse,’ Gerald Celente Says

The No.1 Trend Forecaster Gerald Celente: The Terror And The Crash of 2010

If Nostradamus were alive today, he’d have a hard time keeping up with Gerald Celente.
– New York Post

When CNN wants to know about the Top Trends, we ask Gerald Celente.
– CNN Headline News

There’s not a better trend forecaster than Gerald Celente. The man knows what he’s talking about.
– CNBC

Those who take their predictions seriously … consider the Trends Research Institute.
– The Wall Street Journal

A network of 25 experts whose range of specialties would rival many university faculties.
– The Economist

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Mar 05

elite-puppet-gordon-brown-arrives
British Prime Minister Gordon Brown arrives at the Iraq Inquiry to give his testimony about the 2003 conflict.

Gordon Brown: War in Iraq was ‘right decision’ (CNN):

London, England (CNN) — The decision to go to war in Iraq “was the right decision and it was for the right reasons,” British Prime Minister Gordon Brown said Friday in his first response at the Iraq War Inquiry.

Brown was answering a question from the chairman of the inquiry, John Chilcot, about whether he thought taking military action in March 2003 was the right decision, especially given that it led to such a great loss of life among military personnel and civilians.

The prime minister said he pays respect to members of the armed forces “who served with great distinction in Iraq” and lost their lives, and to civilians who died.

“I think any loss of life is something that makes us very sad indeed,” he said.

March 5, 2010 — Updated 1200 GMT (2000 HKT)

AND THIS ARE THE ‘RIGHT REASONS’:

Tony Blair Was Warned By All 27 Senior Government Lawyers That Iraq War Was Illegal (Daily Express)

Dutch Inquiry: Iraq War Was Illegal, Had ‘No Basis In International Law’ (Guardian)

Tony Blair ‘knew Iraq did not have WMD before war started’ (Times)

US and UK knew that Iraq Didn’t Have WMDs

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Feb 21

The government and the Bank of England are bankrupting the UK and destroying the pound, forcing the New World Order as SOLUTION upon the people.



Added: 19. Februar 2010

The government and the Bank of England are destroying the UK:

Britain At Risk Of Worse Government Debt Crisis Than Greece

UK Annual Inflation Jumps, Prompts Bank Of England Explanatory Letter

Societe Generale chief strategist Albert Edwards: Greek bailout only delays ‘inevitable’ Eurozone breakup

Societe Generale Chief Strategist Albert Edwards: Theft! Were the US & UK central banks complicit in robbing the middle classes?

Marc Faber on CNBC: All Governments Will Default On Their Debt, Including The US

PIMCO’s Bill Gross: UK a ‘must to avoid’ as its debt lies ‘on bed of nitroglycerine’ (!!!)

Bank of England’s ‘nerves’ to be tested as inflation jumps most on record in December

Fitch warns: Britain and France risk losing their AAA rating

Moody’s warns of ’social unrest’ as sovereign debt spirals … because of bankster bailouts

UK taxpayers face £2 trillion unfunded pensions liability, more than £80,000 for every household

Moody’s: Top US And UK Debt Ratings May ‘Test The Aaa Boundaries’

Treasury Pre-Budget Report Warning: UK ‘Faces Decades of Debt’

Morgan Stanley: Britain risks sovereign debt crisis in 2010

OECD warning: Britain risks ‘debt spiral’

“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” – John Adams

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Jan 30

The US bought Osama Bin Laden, who died a long time ago, before. Brilliant strategy!

The elite has really some excellent ideas to further loot the taxpayers.

My guess is that most of this money will never reach any Taliban leader.


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LONDON — An international fund amounting to hundreds of millions of dollars will be established this week in a bid to buy off Taliban leaders in Afghanistan.

An outline for the strategy, which will be principally funded by the US, Japan and Britain, was reported to have been drafted at a meeting in Abu Dhabi two weeks ago of top-level diplomats from 20 countries.

The announcement of the establishment of the Peace and Reintegration Trust Fund, which will seek to “split the Taliban” by luring into mainstream politics any leaders not connected to, or ready to break their links with, al Qa’eda is due to be announced at the end of Thursday’s summit on Afghanistan in London.

Some will see the plan as the most public acknowledgement yet that there is no military solution to the conflict in Afghanistan.

But, assuming the scheme is approved on Thursday, it will represent the most comprehensive political attempt to draw the sting out of the insurgency since the fall of the regime in 2001.

According to The Times yesterday, the draft communiqué to be issued at the end of the conference also foresees Afghan troops “taking the lead and conducting the majority of operations in the insecure areas of Afghanistan within three years and taking responsibility for physical security within five years”. Continue reading »

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Jan 19

The Bank of England and the government have created this mess:

Quantitative easing is creating money out of thin air or “printing money.”

Quantitative easing increases the money supply, creates inflation and devalues the currency.

Inflation is a hidden tax. Quantitative easing is nothing more than stealing from the people.

“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.“
– John Maynard Keynes

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
– Alan Greenspan

See also:

Bank of England extends quantitative easing to £200 billion (Guardian)

Bank of England calls unprecedented emergency meeting of economists (Telegraph)

Pound Falls to Five Month Low as Bank of England Says Declines ‘Helpful’ (Bloomberg)

Bank of England: Recession will be the worst in modern history (Telegraph)

Bank of England to print extra 50 billion pounds (Reuters)

Beware Bank of England’s monetary con trick (Financial Times):

Economists have another term to describe the monetization of government debt (=Quantitative easing). The history of “seigniorage” goes back to the debasement of the coinage under the Roman emperors. Seigniorage is really a tax on holders of money and government debt which is paid via inflation. When carried to excess, it leads to hyperinflation.

The dangers of printing money: four lessons from history (Times Business)

Bank of England wants to print more money (Telegraph)

Bank of England sees slowdown deepening, prepares to deploy quantative easing (Financial Times):

Quantitative easing is aimed at increasing the money supply, getting banks to lend more, lowering interest rates and raising the level of inflation. (…and destroying the pound.)

And the UK has Gordon Brown, the savior, also known as debt creator, who will make sure that the UK will default on its debt and/or has to go through a currency crisis:

“A weak currency arises from a weak economy, which in turn is the result of a weak government.” – Gordon Brown

“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” – John Adams

Britain Faces New Souvereign Debt Crisis As PIMCO Pulls Out

Fitch warns: Britain and France risk losing their AAA rating

Moody’s warns of ’social unrest’ as sovereign debt spirals … because of bankster bailouts

UK taxpayers face £2 trillion unfunded pensions liability, more than £80,000 for every household

Moody’s: Top US And UK Debt Ratings May ‘Test The Aaa Boundaries’

Treasury Pre-Budget Report Warning: UK ‘Faces Decades of Debt’

Morgan Stanley: Britain risks sovereign debt crisis in 2010

OECD warning: Britain risks ‘debt spiral’

Prepare for the worst, because it’s coming!

Remember? Jim Rogers: ‘Sell any sterling you might have; It’s finished’

Update:

For sheer gall, Brown posing as saviour of the middle classes takes the mouldy biscuit (Daily Mail):

There’s been nothing like it since the wolf dressed up as grandma in order to turn Little Red Riding Hood into pot-roast.

Gordon Brown now claims to be a champion of the middle classes. Apparently, only he can be trusted to look after their interests.

And there were millions of us thinking that he was, in fact, the unreconstructed arch-enemy of the middle classes and of everything they hold dear.

This is what the UK government and the BoE are doing:

“When a country embarks on deficit financing and inflationism you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
– Ron Paul

“Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.”
– Ron Paul


UK inflation jumped the most on record in December, fuelling fears that interest rates will have to rise sooner rather than later to keep prices in check.

quantitative-easing
Steve Bell, The Guardian

The sharp rise in the annual rate of consumer price inflation from 1.9pc to 2.9pc was driven by exceptional events in December 2008, as the VAT cut and high street discounting at that point were not repeated last month.

An increase in the price of petrol and new cars also drove the Consumer Prices Index (CPI) up last month, the Office for National Statistics said. Economists had expected a smaller rise in CPI to 2.6pc.

Howard Archer, chief UK economist at IHS Global Insight described the data as “a very nasty shock”.

It was the first time since May that inflation has risen above the Bank of England’s 2pc target, and economists predict inflation will rise above 3pc this month, reflecting the reversal of the VAT cut on January 1.

At that point Mervyn King, the Bank’s Governor, would be required to write a letter to the Chancellor, explaining why inflation was more than a percentage point above the target.

It comes at a difficult time for Britain’s consumers, who face the prospect of rising taxes, rising interest rates, and spending cuts as a fragile economic gets underway following the worst post-war recession.

The retail prices index (RPI) – which includes housing costs – rose even more sharply, to 2.4pc from 0.3pc in November.

Inflation in Britain has remained consistently higher than other countries during the recession, which economists partly attribute to the pound’s weakness, which has driven up the cost of foreign goods. Continue reading »

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Jan 06

See also:

Pimco move to sell gilts raises spectre of a UK sovereign debt crisis (Telegraph)

Gordon Brown accused of “fantasy” over public debt as changes tack (Times)


britain-faces-new-souvereign-debt-crisis
Pimco’s decision to sell UK gilts this year will be seen as a financial vote of no-confidence in the Government’s handling of the economy.

FEARS that Gordon Brown has left Britain on the brink of ­bankruptcy intensified last night as investors withdrew from backing the Treasury’s soaring debt.

US-based investment group Pimco, one of the world’s leading bond houses, said it will sell its UK government gilts this year.

It will be a hammer blow to the Treasury’s attempt to raise up to £200billion of government borrowing amid the deficit crisis.

The embarrassment is all the more acute because the younger brother of Cabinet minister Ed Balls is overseeing the gilt sale.

andrew-balls
Labour’s Ed Balls’ younger brother Andrew is overseeing the Pimco pullout

As head of Pimco’s European investment team, Andrew Balls is spearheading the exit from investment in the Government.

The Tories seized on the announcement as evidence that Mr Brown’s soaring borrowing is threatening the UK with the worst debt crisis since the 1970s.

Shadow Chief Secretary Philip Hammond said: “This announcement by the world’s biggest bond house is a damning verdict on Gordon Brown’s handling of the economy and raises yet more questions about where the ­Government is going to borrow the £178billion it needs over the next 12 months.

“To restore confidence to the bond markets, keep mortgages down and get the economy growing, Britain needs a credible plan to get the deficit down.

“Instead we have a Prime ­Minister and Chancellor at loggerheads over tax and spending. We can’t go on like this.” Concern has been growing in the City and on international money markets at the unprecedented scale of the British ­government’s debt crisis. The Treasury is on course to ­borrow £178billion this year and the national debt is tipped to reach a colossal £1.5trillion for the first time in our history.

Continue reading »

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Jan 04

“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” – John Adams

The elite puppet Prime Minister Brown is looting the taxpayer all of the time with dire consequences:

Fitch warns: Britain and France risk losing their AAA rating

Moody’s warns of ’social unrest’ as sovereign debt spirals … because of bankster bailouts

UK taxpayers face £2 trillion unfunded pensions liability, more than £80,000 for every household

Moody’s: Top US And UK Debt Ratings May ‘Test The Aaa Boundaries’

Treasury Pre-Budget Report Warning: UK ‘Faces Decades of Debt’

Morgan Stanley: Britain risks sovereign debt crisis in 2010

OECD warning: Britain risks ‘debt spiral’

Prepare for the worst, because it’s coming!

See also:

French public debt hits record

Moody’s Downgrades Greece’s Credit Rating


gordon-brown-accused-of-fantasy-over-public-debt
Mr Brown made clear that he will portray Labour as the party of investment in the general election

Gordon Brown was accused today of indulging in “fantasy” over the state of the public finances after he promised that Labour would continue to invest in skills and schools in spite of demands that he reduce Britain’s record deficit.

The Prime Minister used his first interview of the new year to warn that the Tory plan to cut debt would damage the economic recovery.

He made a series of new spending commitments to boost science and education and insisted there was still money available to invest in Labour’s priorities.

But Mr Brown risked re-opening bitter internal divisions by claiming that public spending would rise by 0.8 per cent a year. This figure was denounced when he used it last year because it includes debt interest payments and social security, leaving government departments expecting real-terms cuts of between 10 and 20 per cent.

Mr Brown claimed that the rises in national insurance and the ending of pension tax reliefs, along with lower- than-expected unemployment, would bring down the deficit. Now was not the time for a comprehensive spending review, which would lay out the scale of departmental cuts, he said.

This drew fire from Vince Cable, the Liberal Democrat Treasury spokesman, who said that cuts were already being implemented in Whitehall spending.

“This is a rather unconvincing attempt to draw an artificial dividing line. It’s simple fantasy to imagine painful decisions can be avoided in public spending, with some departments already talking about 10 per cent,” Mr Cable said.

“Lord Mandelson has already undermined the Prime Minister by making very deep cuts in the university and science budgets, with some of the best scientists in the country losing their job. This leaves Mr Brown looking very foolish.” Continue reading »

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Jan 03

Another inside job:

US government lies about Flight 253 ‘crotch bomber’ patsy: Summary of the evidence; Yemen attack implication (Examiner)

Evidence Mounts for US Complicity in Terrorism (Veterans Today)

Here is one of many reasons what that non-existent terrorist threat was all about:

Taking away more of your freedom and destroy your health:

Airline passengers face body scanners and double searches (Telegraph)

Gordon Brown promises full body scanners at UK airports (BBC News)

Full-Body Scanners to Be Put in British Airports (ABC News)

Full body scanners being ordered for airports says Gordon Brown (The Guardian)

Those full-body scanners will soon be installed everywhere!


full-body-scanners

An employee at Schiphol airport, Amsterdam, tests the new body scanners. Photograph: Cynthia Boll/AP

Jan. 3 (Bloomberg) — U.K. Prime Minister Gordon Brown said British airports will introduce full-body scanners to prevent terrorists smuggling explosives on board planes.

“This is a new type of threat,” Brown told the BBC’s Andrew Marr Show today. “We recognize there are new weapons being used by al-Qaeda and we need to respond.”

The prime minister said the machines are part of a response to “a new form of explosive that was not being detected by ordinary machines.” The body scanners will be introduced gradually and other new technology will employed that can detect explosives directly, he said.

Extra body searches, extended restriction on leaving seats, and a greater use of explosive-sniffing dogs are additional measures being considered, Transport Secretary Andrew Adonis said in a separate interview with the Sunday Times.

Governments around the world are reviewing airport security after an attempt to blow up a passenger airliner over Detroit on Christmas Day. In the U.S., President Barack Obama ordered a review of terrorist intelligence gathering and aviation security after the accused attacker, Umar Farouk Abdulmutallab, a 23- year-old Nigerian, allegedly smuggled explosives onboard the airliner even after being on a U.S. government list of people with suspected ties to terrorism.

Continue reading »

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Dec 25

Related information:

new-world-order-london-summit-2009
Barack Obama, Silvio Berlusconi and Dmitri Medvedev celebrate after agreeing a set of measures designed to haul the world out of recession. Gordon Brown, who hosted the summit, said the deal heralded a “new world order”.
Source: The First Post

British Prime Minister Gordon Brown himself announced that the G20  heralded the creation of a “new world order” which would involve increased global regulation of economic markets.

Still think that the ‘New World Order’ is a conspiracy theory?

Now here is an interesting article from the Telegraph.


Quasimodo in Number 10, hunched, scowling over his desk, has devised yet another plan to police, to increase surveillance, to indulge his obsession with extending his short-lived control over as many people as possible. Gordon Brown, who now seems to have lost his last tenuous grip on reality, wants the European Union to police the carbon emissions of the whole world. That is the leitmotif of New Labour – and, by extension, all Westminster – government: control, bans, observation, intrusion, diktat.

Balked of a legal agreement on imaginary manmade global warming at Copenhagen, Quasimodo and Nicolas Sarkozy are working on plans to create a “European monitoring organisation” to oversee different countries’ actions on carbon emissions. Barack Obama – the leading control freak in the liberal pantheon – has suggested spy satellites could be used.

Quasimodo told reporters: “We’re in favour of transparency; we’re in favour of looking at what’s happening not just in our country and our own continent, but around the world.” That isn’t transparency: that is snooping. “We’re in favour of transparency” – from a New Labour Prime Minister! Goebbels, who always favoured the Big Lie, would have loved it.

Were Quasimodo and his colleagues in favour of transparency about weapons of mass destruction? Even now, are they in favour of transparency at the Iraq inquiry, where Tony Blair will give evidence in secret? Were they in favour of transparency when they voted to keep MPs’ expenses under wraps, until the courts overruled them?

The one fear the enforcers entertain is that their spy-in-the-sky snooping on carbon emissions might antagonise China, which resists surveillance (all those covert coal mines and other eco-naughties). When Red China begins to seem like an apostle of laissez-faire, relaxed freedom, we know that the lunatics have taken over the asylum.

Continue reading »

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Nov 20

Britain’s banksters and their bonuses have been momentarily saved, but the taxpayer has been looted like there will be no tomorrow.

The UK is broke and the pound sterling will soon go through a real currency crisis, thanks to the spend the UK into oblivion team Brown/Darling and to the printing press King of the Bank of England.

Mission accomplished!


Britain is at growing risk of a “public debt spiral” unless the Government takes “drastic” action to cut the deficit, according to the OECD, world’s leading economic institution.

hm-treasury Britain faces having the biggest deficit in the developed world until 2017.

The Organisation for Economic Co-operation and Development said that even if Britain reduces its deficit in line with other leading nations, it will still have the rich world’s biggest deficit from now until 2017 and potentially beyond, casting serious doubt on its economic credibility.

The warning coincided with shock public finance statistics showing that public borrowing in October was 88 times what it was in the same month last year, making it likely that the Chancellor will miss his £175bn borrowing forecast this year.

The double blow is acutely embarrassing for Downing Street, coming ahead of next month’s pre-Budget report and only 24 hours after it pledged to create a Bill to halve the deficit within four years and to reduce debt every year for the coming decade.

In fact, the OECD predicted in its annual Economic Outlook, Britain’s deficit was likely to be even higher next year than this year, at 13.3pc, raising the prospect that the Government could break its own law in its very first year.

Britain’s deficit will remain higher than any other major country, including even Iceland and Ireland, unless the Government takes far more drastic action to repair it, said the OECD’s acting chief economist Jørgen Elmeskov.

“Halving the deficit would be a start, but since the UK is starting out from a deficit which is in double figures, one should go further still,” he said. “The concern is that there could be a cost spiral – where debt increases, hitting confidence in the market, which pushes up interest rates, and this leads to even higher deficits.”

The prospect of interest payments on Britain’s rapidly growing debt rising to 12pc of tax revenues has already prompted Standard & Poor’s to issue a warning about the security of the UK’s credit rating.

Continue reading »

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Nov 17

taliban-fighters
Taliban fighters at an undisclosed location in Afghanistan: British forces are being told to buy off potential recruits with ‘bags of gold’ (Reuters)

British forces should buy off potential Taliban recruits with “bags of gold”, according to a new army field manual published yesterday.

Army commanders should also talk to insurgent leaders with “blood on their hands” in order to hasten the end of the conflict in Afghanistan.

The edicts, which are contained in rewritten counter-insurgency guidelines, will be taught to all new army officers. They mark a strategic rethink after three years in which British and Nato forces have failed to defeat the Taliban. The manual is also a recognition that the Army’s previous doctrine for success against insurgents, which was based on the experience in Northern Ireland, is now out of date.

The new instructions came on the day that Gordon Brown went farther than before in setting out Britain’s exit strategy from Afghanistan. The Prime Minister stated explicitly last night that he wanted troops to begin handing over districts to Afghan authorities during next year – a general election year in Britain.

Addressing the issue of paying off the locals, the new manual states that army commanders should give away enough money to dissuade them from joining the enemy. The Taliban is known to pay about $10 (£5.95) a day to recruit local fighters.

Major-General Paul Newton said: “The best weapons to counter insurgents don’t shoot. In other words, use bags of gold in the short term to change the security dynamics. But you don’t just chuck gold at them, this has to be done wisely.”

British commanders in Afghanistan and Iraq have complained that their access to money on the battlefield – cash rather than literal gold – compares poorly with their US counterparts.

Continue reading »

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Oct 23

“When the people find they can vote themselves money, that will herald the end of the republic.”
– Benjamin Franklin


Added: 22. October 2009

Fall Of The Republic documents how an offshore corporate cartel is bankrupting the US economy by design. Leaders are now declaring that world government has arrived and that the dollar will be replaced by a new global currency.

President Obama has brazenly violated Article 1 Section 9 of the US Constitution by seating himself at the head of United Nations’ Security Council, thus becoming the first US president to chair the world body.

A scientific dictatorship is in its final stages of completion, and laws protecting basic human rights are being abolished worldwide; an iron curtain of high-tech tyranny is now descending over the planet.

A worldwide regime controlled by an unelected corporate elite is implementing a planetary carbon tax system that will dominate all human activity and establish a system of neo-feudal slavery.

Continue reading »

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Oct 02

Barack Obama, Dick Cheney, Hillary Clinton, George W. Bush, Condoleezza Rice among others at the Council on Foreign Relations (CFR).

Real change:
ron-paul
Ron Paul



Added: 1. Oktober 2009

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Sep 29

Related information: Ron Paul on the Iranian Nuclear Program


Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University.

paul-craig-roberts
Paul Craig Roberts

Does anyone remember all the lies that they were told by President Bush and the “mainstream media” about the grave threat to America from weapons of mass destruction in Iraq? These lies were repeated endlessly in the print and TV media despite the reports from the weapons inspectors, who had been sent to Iraq, that no such weapons existed.

The weapons inspectors did an honest job in Iraq and told the truth, but the mainstream media did not emphasize their findings. Instead, the media served as a Ministry of Propaganda, beating the war drums for the US government.

Now the whole process is repeating itself. This time the target is Iran.

As there is no real case against Iran, Obama took a script from Bush’s playbook and fabricated one.

First the facts: As a signatory to the non-proliferation treaty, Iran’s nuclear facilities are open to inspection by the International Atomic Energy Agency, which carefully monitors Iran’s nuclear energy program to make certain that no material is diverted to nuclear weapons.

The IAEA has monitored Iran’s nuclear energy program and has announced repeatedly that it has found no diversion of nuclear material to a weapons program. All 16 US intelligence agencies have affirmed and reaffirmed that Iran abandoned interest in nuclear weapons years ago.

In keeping with the safeguard agreement that the IAEA be informed before an enrichment facility comes online, Iran informed the IAEA on September 21 that it had a new nuclear facility under construction. By informing the IAEA, Iran fulfilled its obligations under the safeguards agreement. The IAEA will inspect the facility and monitor the nuclear material produced to make sure it is not diverted to a weapons program.

Despite these unequivocal facts, Obama announced on September 25 that Iran has been caught with a “secret nuclear facility” with which to produce a bomb that would threaten the world.

The Obama regime’s claim that Iran is not in compliance with the safeguards agreement is disinformation. Between the end of 2004 and early 2007, Iran voluntarily complied with an additional protocol (Code 3.1) that was never ratified and never became a legal part of the safeguards agreement. The additional protocol would have required Iran to notify the IAEA prior to beginning construction of a new facility, whereas the safeguards agreement in force requires notification prior to completion of a new facility. Iran ceased its voluntary compliance with the unratified additional protocol in March 2007, most likely because of the American and Israeli misrepresentations of Iran’s existing facilities and military threats against them.

By accusing Iran of having a secret “nuclear weapons program” and demanding that Iran “come clean” about the nonexistent program, adding that he does not rule out a military attack on Iran, Obama mimics the discredited Bush regime’s use of nonexistent Iraqi “weapons of mass destruction” to set up Iraq for invasion.

The US media, even the “liberal” National Public Radio, quickly fell in with the Obama lie machine. Steven Thomma of the McClatchy Newspapers declared the non-operational facility under construction, which Iran reported to the IAEA, to be “a secret nuclear facility.”

Continue reading »

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Sep 25

The UK is broke and the pound is – thanks to the government and the Bank of England – worthless paper.

british_pound

“A weak currency arises from a weak economy, which in turn is the result of a weak government.” – Gordon Brown


pound-notes

Sept. 24 (Bloomberg) — The pound fell, weakening to 91 pence per euro for the first time in more than five months, on speculation the Bank of England favors currency declines to boost the economy.

The pound also dropped the most since April against the dollar on renewed investor expectations that the central bank will cut the rate it pays financial institutions on deposits. Bank of England Governor Mervyn King said the weakening pound is “helpful” in rebalancing the economy, the Newcastle Journal cited him as saying in an interview. Prime Minister Gordon Brown told reporters in New York today he welcomes “all the factors that make for a stable economy.”

“A currency, which the country’s own central bank likes to see weak, obviously is not an attractive investment,” Commerzbank analysts including Lutz Karpowitz in Frankfurt wrote in a research note today. “If King keeps digging then he is clearly signaling that he does not care about this loss of trust.”

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Sep 19

The UK and the US are broke.

Related articles:
UK monthly budget deficit soars to record £16bn (Guardian)
Foreign investment in UK falls by half (Guardian)


uk-the-national-debt
(David McClelland/The Times)

Britain is clocking up debt at a rate of £6,017 per second as the Government struggles to balance the books. With tax receipts plummeting because of the recession, state borrowing grew by £16.1 billion last month – almost twice the entire budget for the 2012 Olympics.

Net borrowing for the first five months of the financial year stood at £65.3 billion, compared with £26.1 billion at the same stage last year. Total borrowing soared past the £800 billion mark for the first time and total state debt as a proportion of national output reached 57.5 per cent.

Just to pay the interest on its ballooning debts the Government must find more than £30 billion a year – about £500 for every man, woman and child in the country.

The figures from the Office for National Statistics (ONS) show that tax receipts in August dived by 9 per cent compared with August 2008, while public spending rose by almost 3 per cent. The widening gulf was bridged by borrowing. Spending on benefits grew by £900 million to £13.5 billion as unemployment soared.

Taking fright at the figures, foreign exchange dealers sent sterling diving to a four-month low against the euro. The value of the pound fell by more than 1 per cent against the dollar.

Analysts said that the Budget forecast by Alistair Darling, the Chancellor, that additional borrowings would be £175 billion this year was not pessimistic enough and predicted that borrowing would be between £15 billion and £50 billion above that forecast.

John Hawksworth, chief economist at PricewaterhouseCoopers, said: “It seems likely that budget deficits will overshoot Treasury forecasts not only in 2009-10 but for years to come.”

Philip Hammond, the Shadow Chief Secretary to the Treasury, said: “We used to worry about borrowing £16 billion in an entire year. Now Labour have done it in just one month. These shocking figures show the depth of Gordon Brown’s debt crisis and just how irresponsible he was to pretend that spending cuts weren’t necessary.”

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Sep 19

This is not done to help poor countries.

Now the elite, that has created the crisis, can buy more ‘cheap’ gold.

Gordon Brown again!

Gordon Brown’s decision to sell half of the UK’s gold reserves ‘cost UK £5billion’

People will say Gordon Brown is just a terrible investor/market timer, but he is an elite puppet like Obama, Bush, Blair etc. working to establish the ‘New World Order’.

Related information:
19 Jan 2007: Brown wants a ‘new world order’ (BBC NEWS)

: Gordon Brown New World Order Speech (YouTube) (!)
– Jan 22, 2008:
Brown’s secret talks on ‘new world order’ (NZ Herald)
– Jan. 26, 2009: Gordon Brown sees ‘New World Order’ after crisis (AFP)


IMF approves $13bn gold sale to aid poor states

gold-gold-gold

The International Monetary Fund has approved a sale of 403 metric tonnes of gold reserves, in a move likely to raise $13bn (£8bn) of cash to replenish its coffers for lending to low-income countries hit by the global economic downturn.

The sale amounts to roughly an eighth of the institution’s stockpile of the precious metal and comes as gold prices hit record highs, boosted by investors seeking safety away from volatile stock markets.

Dominque Strauss-Kahn, the IMF’s managing director, said sales would be conducted in a “responsible and transparent manner that avoids disruption to the gold market”. Speaking after a meeting of the IMF’s executive committee, he said the initiative would “put the financing of the IMF on a sound long-term footing and enable us to step up much needed concessional lending to the poorest countries”.

Among those pushing for the IMF to raise funds was Gordon Brown, who urged his counterparts to agree a sale at a meeting of G20 countries in London in April.

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Aug 21

Britons bottom of list for economic faith in government and banks (Guardian)

David Cameron warns spending could lead to Britain defaulting on its debt (Guardian)

Public finances much worse than feared (Guardian):
“The public finances data were far worse than expected,” said Peter Dixon at Commerzbank. “Tax revenues have clearly collapsed.”

This is also not a recession, but the “Greatest Depression”.


Aug. 20 (Bloomberg) — Britain had an 8 billion-pound ($13.2 billion) budget deficit in July, the largest for the month since records began in 1993, as the recession ravaged tax revenue and the cost of unemployment benefits surged.

The shortfall compared with a surplus of 5.2 billion pounds a year earlier, the Office for National Statistics said in London today. It came in a month when the Treasury usually gets a boost from quarterly tax payments. Britain last had a deficit in July in 1996.

The U.K. will have the biggest deficit in the Group of 20 next year, when Prime Minister Gordon Brown faces re-election, according to the International Monetary Fund. Brown is urging G- 20 leaders to keep up a coordinated fiscal stimulus until a world economic recovery is more certain. The Conservative opposition says spending cuts and possible tax increases are needed to curb debt.

“They’re completely disastrous numbers,” Paul Mortimer- Lee, an economist at BNP Paribas SA, said on Bloomberg Television in London. “With the economy in a parlous state, not much tax is being collected. The chancellor’s estimate for the deficit is going to be overshot by a considerable margin.”

The Treasury forecasts a deficit of 175 billion pounds in the fiscal year that began in April. In the first four months, the shortfall was 50 billion pounds, more than triple the level a year earlier.

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Aug 08

1 of 3:

2 of 3: Brown’s Bottom: Gordon Brown sold half of Britain’s gold reserves at the bottom of the gold market.

3 of 3:

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