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 »
– 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.
– 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.
– 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.
For your information.
The elitists vs. the people.
YouTube Added: 13.11.2011
For more information: Thrive
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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.
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:
– 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
– 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.’ (!)
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.”
“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.”
“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.
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.
– 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)
MPs and peers brand government’s definition of complicity in torture as ‘worrying’ and call for urgent independent inquiry
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 »
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.
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 »
Added: 13th Mar 10
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.
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
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’:
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:
“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” – John Adams
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.
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 »
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
– 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
Prepare for the worst, because it’s coming!
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.
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 »
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.
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.
“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:
Prepare for the worst, because it’s coming!
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 »
Another inside job:
– 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:
– 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!
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.
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.
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.
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.
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.
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.
“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.
Tags: 1984, Abu Ghraib, Afghanistan, Africa, AIG, Alan Grayson, Alan Greenspan, Alex Jones, Bailout, Bank of America, Banking, Barack Obama, Barclays, Bear Stearns, Ben Bernanke, Bill Clinton, Bill of Rights, BIS, Brad Sherman, Bubble, Bush administration, carbon tax, cds, Central Bank, China, Citigroup, Congress, Constitution, Corporations, Corruption, cybersecurity, Debt, Democrats, Dennis Kucinich, Depression, Derivatives, Derivatives market, Detention, Deutsche Bank, Dictatorship, Documentary, Dollar, Economy, EU, Euro, False flag, Fascism, FBI, FDIC, Fed, Federal Reserve, Financial Crisis, First Amendment, Fourth Amendment, Fraud, G20, GDP, George Bush, George Orwell, Gerald Celente, Global News, Global Warming, Goldman Sachs, Gordon Brown, Government, Great Depression, Henry Paulson, Human Rights, Hyperinflation, IMF, Impeachment, Inflation, Internet, Iraq, Jesse Ventura, John Perkins, JPMorgan, Larry Summers, Law, Law enforcement, Lehman Brothers, Lobbyists, Martial Law, Max Keiser, Merrill Lynch, Military, Mind-Control, money supply, Morgan Stanley, Mortgage crisis, Mortgages, NAFTA, Nancy Pelosi, New World Order, NSPD 51, Obama administration, Patriot Act, Paul Volcker, Police State, Politics, Poverty, Privacy, Rahm Emanuel, Raytheon, Republic, Republicans, Rockefeller, Ron Paul, Rothschild, SEC, Second Amendment, Senate, Society, Surveillance, Taxes, Taxpayers, Terrorism, Timothy Geithner, Treason, U.N., U.S., Unemployment, Wall Street, War, warrantless wiretapping program, Wells Fargo, White House, World Bank
Barack Obama, Dick Cheney, Hillary Clinton, George W. Bush, Condoleezza Rice among others at the Council on Foreign Relations (CFR).
Added: 1. Oktober 2009
Tags: Barack Obama, Bilderberg, Bill Clinton, CFR, Condoleezza Rice, Council on Foreign Relations, Dick Cheney, Economy, EU, George Bush, Gordon Brown, Henry Kissinger, Hillary Clinton, John McCain, New World Order, Politics, Rockefeller, Society, U.S.
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
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.”
Tags: Barack Obama, Bush administration, George Bush, Gordon Brown, Government, IAEA, Iran, Iraq, Military, Nicolas Sarkozy, Nuclear, Nuclear reactors, Nuclear weapons, Obama administration, Paul Craig Roberts, Politics, U.S.
The UK is broke and the pound is – thanks to the government and the Bank of England – worthless paper.
“A weak currency arises from a weak economy, which in turn is the result of a weak government.” – Gordon Brown
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.”
The UK and the US are broke.
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.”
This is not done to help poor countries.
Now the elite, that has created the crisis, can buy more ‘cheap’ gold.
Gordon Brown again!
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’.
– 19 Jan 2007: Brown wants a ‘new world order’ (BBC NEWS)
– 18 Mai 2007: 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
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.
– 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.
… and of course the government delayed reports loaded with bad news. The UK is broke and gets ready to default on its debt.
Ministers bury £32bn tax crisis as recess starts
A mountain of bad news was buried by the Government as it rushed out reports and 26 ministerial statements the day before MPs go on holiday. Whitehall sources said that many of the reports were ready to be published weeks ago, and would normally be released in stages, but ministers had insisted they all be delayed till yesterday.
The dangerous state of the public finances was laid bare by the reports, which showed that the Government’s tax take plummeted by £32 billion last year. Figures from HM Revenue & Customs showed income tax, national insurance, VAT, stamp duty and corporation tax fell by £21 billion, while other debts and legal liabilities had cut income by a further £10 billion.
Related article: Flow of tax cash into Treasury drops by £32bn (Telegraph)
The figures were disclosed as the National Audit Office (NAO) refused to sign off six sets of Whitehall accounts because of fraud, error, overpayments and IT problems. The accounts, covering billions of pounds, included the Ministry of Defence, the Treasury, the Revenue, the Department for Work and Pensions, the Home Office and the Equalities and Human Rights Commission. The Government also slipped out reports criticising its training programmes and announced delays in several policy areas.
Philip Hammond, Shadow Chief Secretary to the Treasury, said: “It is a disgrace that the Government is apparently trying to sneak out these very important reports at the fag end of the parliamentary session. It gives no time for MPs to hold ministers to account — presumably what Mr Brown intended.”
– Gordon Brown insists Afghan war being won (Times Online)
Death toll in Afghanistan is now 184, a figure that has surpassed the 179 killed in the Iraq
The Ministry of Defence announced on Friday night the deaths of five more UK service personnel in Afghanistan, taking the total number of British troops whose deaths were revealed on Friday to eight.
As Gordon Brown gave warning that warned Britain faced a “very hard summer” in the run-up to elections in Afghanistan, the announcement news of the new fatalities in Afghanistan meant that 15 British soldiers have now have lost their lives in Helmand in the past 10 days.
– Related article: Eight British troops die in Afghan war in 24 hours (Reuters)
The MoD said the five soldiers whose deaths were announced on Friday evening were killed in two separate explosions near Sangin. in Helmand province. Next of kin have been informed. (MUST INCLude last sentence).
The prime minister offered a sombre defence of the mission in Afghanistan as “vital to the safety of the world” as he called on the international community to stand its ground until the Taliban was vanquished.
His tribute to the courage of British forces came as operations in Helmand province entered an intense and bloody phase, with US and UK forces advancing and attempting to hold land in Taliban strongholds. The latest eight British losses announced yesterday mean that the total death toll in Afghanistan is now 184, a figure that has surpassed the 179 killed in the Iraq campaign.
“This is a very hard summer – it’s not over,” Mr Brown said at the G8 summit in Italy. “But it’s vital that the international community sees through its commitments. Our resolve to complete the work that we have started in Afghan-istan is undiminished.”
Sterling Crisis Looms as U.K. Unraveling Points to Budget Cuts
June 30 (Bloomberg) — The state of the U.K. economy fills British financial historian Niall Ferguson with foreboding.
“The probability of a real sterling crisis is around one in three, and the probability of major tax hikes and cuts in public spending is roughly one in one,” the Harvard University professor says.
Ferguson’s concern stems from the deterioration in the U.K.’s public finances, which prompted Standard & Poor’s to warn on May 21 that the country could lose its AAA debt rating. The firm estimated the cost of propping up Britain’s banks at 100 billion pounds ($166 billion) to 145 billion pounds and said government debts could double to almost 100 percent of gross domestic product by 2013.
Chancellor of the Exchequer Alistair Darling said on April 22 that this year’s government deficit would hit 12.4 percent of GDP. Alan Clarke, a London-based economist at BNP Paribas SA, expects it to reach 17 percent of GDP in 2010.
– Pressure on Brown Mounts as UK Minister Resigns (Wall Street Journal)
– PM fights to survive: Reshuffle paralysed by ministers refusing to budge as rebels plot cyber-coup (Daily Mail)
(New title: ‘Don’t sign Gordon’s death warrant’: Mandy begs MPs to snub anti-Brown email as Milburn and Byers are named as plotters)
– BREAKING NEWS: Lightning coup to oust Gordon Brown (London Evening Standard)
– Hazel Blears resigns from Cabinet as Labour MPs discuss plot to topple Brown (Times)
– Brown resignation rumour sends pound plunging (Telegraph):
– UK Govt: Brown Resignation Rumor “Complete Nonsense” (Wall Street Journal)
If Gordon Brown resigns, then he will be replaced by another puppet, serving it’s masters.
Standard & Poor’s has cut the outlook on Britain’s AAA credit rating to “negative”
Gordon Brown, U.K. prime minister, leaves number 10 Downing Street to give money to a charitable cause, in London, U.K., on Tuesday, May 5, 2009. Photographer: Chris Ratcliffe/Bloomberg News
June 1 (Bloomberg) — U.K. debt is losing its allure for the biggest owners of gilts as the nation’s worst recession since World War II batters the government’s finances, according to a Bloomberg survey.
Eight of 10 funds, which oversee a combined $2.9 trillion, said they are either more likely to sell than buy British government bonds in the next three months or have no plans to purchase them, the survey conducted last week showed. Two said they were more inclined to buy than sell the securities.
Prime Minister Gordon Brown’s government aims to sell a record 220 billion pounds ($355 billion) of debt in the fiscal year through March 2010 to finance bank bailouts and measures designed to drag Europe’s second-largest economy out of the recession. Standard & Poor’s cut the outlook on Britain’s AAA credit rating to “negative” from “stable” on May 21, citing the country’s growing debt burden.
The U.K. is “spending heavily to rescue the banking system,” said Yuuki Sakurai, general manager of finance and investment planning in Tokyo at Fukoku Mutual Life Insurance Co., which oversees $54 billion. “The rating should be lowered.” Fukoku, one of the money managers surveyed, has no plans to buy gilts this year, he said.
Alistair Darling’s calamitous Budget not only consigned the nation to decades of debt, but also planted a poisonous legacy that will blight generations to come.
“To preserve [the people’s] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude.”
Thomas Jefferson, President of the United States of America,1801-1809.
This week, Alistair Darling made a selection for us. His Budget for Bankruptcy banished economy and liberty. In their place, he delivered a profusion of unaffordable spending and a contract of servitude, not just for this generation, but for the next and the one after that. This is how independence is murdered. A ball-and-chain of spirit-sapping debt has been clamped to the nation’s future. We are all serfs now.
In a speech of stunning torpidity (how does he manage it?), the Chancellor claimed: “You can grow your way out of recession, you can’t cut your way out of it.” Growth sounds attractive, an aspiration for solid citizens. Except the growth that Mr Darling had in mind was government borrowing, which is shooting up like bindweed on steroids, choking the economy.
His red numbers are so immense that most pocket calculators cannot accommodate them. Over the next five years – if all goes according to plan – Mr Darling will borrow £703,000,000,000. As the late Roy Castle used to say: “It’s a record breaker!”
– Taxes ‘must rise’ by £45bn a year to meet Budget 2009 target (Telegraph)
– Time to bail out of Britain? (Telegraph)
The United Kingdom is mired in debt, and the Chancellor’s fiendishly clever escape route is, er, to borrow his way out of it. He’s in a hole and digging furiously. Yet Gordon Brown, whose face is beginning to resemble a smacked bottom, was delighted by his cipher’s performance. This style of presentation – straight from the Ceausescu handbook of statistics management – appeals to the Prime Minister’s control-freakery.
Watch Daniel Hannan’s tirade against Gordon Brown
A Tory who criticised Gordon Brown to his face in a brutal personal attack has won an army of fans worldwide.
A video of MEP Daniel Hannan delivering a withering assessment of the Prime Minister’s handling of the economic crisis has become a surprise hit on the internet.
More than 730,000 users have viewed it on YouTube, making it the most popular clip on the site two days in a row.
Mr Hannan’s assault came after the Premier had given a keynote speech to the European Parliament in Strasbourg on Tuesday.
As Mr Brown looked on through gritted teeth, shaking his head, the Tory lambasted him as a ‘Brezhnev era apparatchik’ who was ‘ pathologically incapable’ of taking responsibility for his role in the financial crisis.
The 37-year-old, who was the youngest British member elected to the European Parliament in 1999, yesterday received plaudits for his tongue-lashing.
Broadcasters – including the BBC – failed to report Mr Hannan’s onslaught despite giving full coverage to Mr Brown’s most pro-European speech to date.
But it was quickly posted on YouTube and news outlets from Australia to America seized on his comments.
The clip features Mr Brown looking on with a frozen smile, while Mr Hannan warned how Britain was entering the recession in a ‘dilapidated condition’ with an ‘almost unbelievable’ deficit.
After accusing Mr Brown of losing his moral authority, he finished with the pay-off line: ‘You are the devalued Prime Minister of a devalued government.’
Barack Obama and Gordon Brown’s plans to increase spending on economic recovery have been described as “a road to hell” by the European Union presidency.
Mirek Topolanek: Mr Topolanek warned the European Parliament that the Obama administration’s stimulus package and financial bail-out ‘will undermine the stability of the global financial market’ Photo: GETTY
Internal European divisions are growing over the Prime Minister and US President’s strategies to fight the economic crisis just one week before a critical G20 summit in London.
Mirek Topolanek, the Czech prime minister who is running a caretaker EU presidency after the collapse of his government on Tuesday, highlighted European splits over fiscal stimulus plans promoted by Mr Obama, with Mr Brown’s support.
Mr Topolanek warned the European Parliament that the Obama administration’s stimulus package and financial bail-out “will undermine the stability of the global financial market”.
“All of these steps, these combinations and permanency is the way to hell,” he told Euro-MPs in Strasbourg
“We need to read the history books and the lessons of history and the biggest success of the EU is the refusal to go this way.”
His comments reveal European disunity just eight days ahead of the G20 summit of the world’s industrialised countries in London next Thursday.
The Numis report says: “The bankruptcy of the UK is a very real probability as the UK Government is trying to stimulate a greater debt burden in a grossly indebted economy. We believe the scale of the macro imbalances in the UK means there is no prospect of a recovery in 2009 and we expect the UK to be mired in a deep recession through all of 2010.”
House prices may fall by a further 55 percent and there is a “very real probability” that Britain will be bankrupted, a leading investment bank has warned in a private note to clients.
People who bought buy-to-let flats are expected to “begin panic selling” and the average home value could drop below £100,000.
The predictions in a 298-page report from Numis Securities, a City investment bank, are the bleakest yet on the deteriorating state of the British property market.
House prices have already fallen by about 20 per cent over the past year.
However, in the note written last month, Numis said: “Despite UK house prices already having fallen 21% from the peak, we do not believe that the correction is anywhere near over.
“Our core headline forecast is that UK property prices remain between 17% and 39% overvalued based on fair valuation. Moreover, history has shown us that when property…which has experienced a price bubble corrects, the price tends to fall below fair value for a period of time, as confidence in that market remains low. Prices could fall a further 40-55% if the over-correction was as bad as the early 1990s in our view.”