Gordon Brown – Page 2 – Infinite Unknown

Paul Craig Roberts: Another War in the Works; America Is Led and Informed by Liars

October 15, 2009September 29, 2009 by Infinite

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.

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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.”

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

September 25, 2009September 25, 2009 by Infinite

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.”

Britain’s public debt hits £800 billion – the highest on record

September 19, 2009 by Infinite

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)

(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.”

IMF approves sale of 403 tonnes gold reserves

September 19, 2009 by Infinite

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)
– 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.

UK Has Record July Deficit as Recession Curbs Taxes

August 21, 2009August 21, 2009 by Infinite

– 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.

On the Edge with Max Keiser (08/07/2009)

August 8, 2009 by Infinite

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

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UK Government delayed all reports till yesterday, the day before MPs go on holiday

July 21, 2009 by Infinite

… and of course the government delayed reports loaded with bad news. The UK is broke and gets ready to default on its debt.

Happy holidays!

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.”

Britain’s death toll in Afghanistan overtakes Iraq

July 11, 2009 by Infinite

– Gordon Brown insists Afghan war being won (Times Online)

Sure!

And Gordon Brown knows what he is talking about:
– Brown: UK economy is sound (July 16, 2002)
– British economy remains sound – PM (December 19, 2007)

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.”

Harvard professor: 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

July 1, 2009 by Infinite

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.

Gordon Browns days as PM are numbered as it seems

June 4, 2009 by Infinite

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– 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)

– Revealed: Labour rebels’ timetable to unseat Gordon Brown (Guardian)

– Rebel Labour MPs seek signatures for ‘Gordon must go’ letter (Guardian)

– 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):

eur-gbp

BUT:
– 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.

Biggest Holders Of Gilts Rather Sell Than Buy British Government Bonds: Survey

June 14, 2009June 1, 2009 by Infinite

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.

Ron Paul, Peter Schiff, Daniel Hannan, Lew Rockwell on FREEDOM WATCH (04/29/09)

May 1, 2009 by Infinite

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Budget 2009: Now we are all up to our ears in it

April 24, 2009 by Infinite

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.

Alistair Darling and Gordon Brown have landed the voters in it Photo: PA

“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!”

Related articles:
– 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.

An internet sensation, the Tory who told Brown to his face that he’s a disaster

March 27, 2009 by Infinite

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.

Tirade: Gordon Brown addressing the European Parliament on Tuesday. He then had to sit through an attack on his record by MEP Daniel Hannan

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.’

EU presidency: US and UK economic recovery plans are a way to hell

March 25, 2009 by Infinite

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 bankruptcy of the UK is a very real probability, says leading investment bank

March 12, 2009 by Infinite

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.”

Max Keiser: The Oracle (03/06/09)

March 7, 2009 by Infinite

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Source: YouTube

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Source: YouTube

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Source: YouTube

Ron Paul: They’re Working On A One World Government!

February 27, 2009 by Infinite

Added: 24. Februar 2009
Source: YouTube

Gordon Brown helped fuel banking crisis – FSA head

February 26, 2009 by Infinite

Gordon Brown helped fuel Britain’s banking crisis by pressuring the City regulator not to intervene and stop reckless lending, Lord Turner, the head of the Financial Services Authority, said.

Chairman of the FSA Lord Turner Photo: JULIAN SIMMONDS

The authority’s chairman claimed the regulator was under political “pressure” not to be “heavy and intrusive” with banks such as HBOS and Northern Rock.

Instead, it was told to operate a “light touch” approach, which had now been proved to be “mistaken”, he told a Commons committee.

The failure of the regulator to intervene earlier has been blamed for the banking crisis, which has led to the near-collapse of several of the country’s biggest banks.

Lord Turner’s remarks, made to MPs, are deeply embarrassing for the Prime Minister, who oversaw the FSA while he was Chancellor.

Brown and Blair among ‘enemies of freedom’

February 23, 2009February 22, 2009 by Infinite

A report on the loss of civil liberties was launched yesterday and will be sent to Gordon Brown, Tony Blair, Jacqui Smith and others identified as “the 10 enemies of freedom”.

The Abolition of Freedom Act 2009 was produced by the University College London Students’ Human Rights programme. It shows how “the liberties that we assumed were somehow guaranteed by British culture have been compromised”.

– Blunkett warns over ‘Big Brother’ Britain (Independent):
David Blunkett, who introduced the idea of identity cards when Home Secretary, will issue a stark warning to the Government tomorrow that it is in danger of abusing its power by taking Britain towards a “Big Brother” state.

– Spy chief: We risk a police state (The Telegraph):
Dame Stella Rimington, the former head of MI5, has warned that the fear of terrorism is being exploited by the Government to erode civil liberties and risks creating a police state.

The report comes ahead of the Convention on Modern Liberty, which takes place on Saturday at the Institute of Education, London.

Sunday 22 February 2009
David Smith

Source: The Observer

Max Keiser on why the UK is in big trouble (02/21/09)

February 21, 2009 by Infinite

Source: YouTube

Bank of England wants to print more money

March 6, 2009February 18, 2009 by Infinite

Quantitative easing = Increasing the money supply (by creating money out of thin air) = Inflation = Stealing

Inflation is a hidden tax:

“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

“I care not what puppet is placed on the throne of England to rule the Empire, … The man that controls Britain’s money supply controls the British Empire. And I control the money supply.”
– Baron Nathan Mayer Rothschild

“Give me control of a nation’s money and I care not who makes the laws.”
– Mayer Amschel Rothschild

Watch the pound: Jim Rogers: ‘Sell any sterling you might have; It’s finished’

Bank of England seeks power to inject more money into economy to fight recession

The Bank of England’s Monetary Policy Committee has voted unanimously to seek Goverment permission to increase the amount of money in the economy as interest rate cuts lose their power to fight recession.

The 9-0 vote by the MPC was revealed in the minutes of the meeting held on February 5. The Bank’s Governor Mervyn King will now write to Alistair Darling, the Chancellor, to ask for approval to introduce measures aimed at raising the supply of money in the economy – known as quantitative easing.

The Bank hopes that by increasing the quantity of money in the economy it can encourage banks to increase lending and consumers to start spending.

Brown furious at Sarkozy VAT attack

February 6, 2009 by Infinite

Gordon Brown, Britain’s prime minister, was left fuming on Friday after Nicolas Sarkozy, French president, denounced his flagship VAT-cutting plan and gave a picture of a Britain where industry was finished and the banks lay “close to ruin”.

Mr Sarkozy’s comments are a political gift to David Cameron, the opposition Conservative leader, and deal a blow to Mr Brown’s efforts to cement a common European position on how to fight the recession ahead of a G20 summit of world leaders in London in April.

The French president told a domestic television audience on Thursday night he would not be following Mr Brown in cutting VAT temporarily by 2.5 per cent, claiming the policy was having “absolutely no impact”.

Gordon Brown suggests world heading for a depression

February 4, 2009 by Infinite

Gordon Brown appeared to acknowledge for the first time today that the world economy was heading for a 1930s-style “depression”.

Mr Brown stumbled slightly over his words at Commons question time, just a week after admitting that Britain was facing a “deep” recession.

As the financial gloom deepens, he told the Tory leader David Cameron today: “We should agree, as a world, on a monetary and fiscal stimulus that will take the world out of depression.”

The comment went unnoticed during rowdy question time exchanges between Mr Cameron and Mr Brown, which centred on protectionism and the Prime Minister’s use of the phrase “British jobs for British workers”. Ironically, the exchange ended with Mr Brown accusing the Tory leader of deliberately “talking Britain down”.

Treasury rethink hits defence budget

February 3, 2009 by Infinite

Britain’s deepening financial crisis has prompted the Treasury to pull back from funding any unexpected costs from fighting in Iraq and Afghanistan, putting further pressure on the core defence equipment budget.

Gordon Brown, as chancellor, set up the Treasury reserve to pay for any equipment urgently needed for operations and half of any unforeseen costs. But Treasury officials have recently told the Ministry of Defence to cover the entire cost of any overruns itself.

The Treasury sees the move as increasing the incentive for the MoD accurately to estimate the costs of operations. But it was attacked as a cost-cutting measure that would put further pressure on the strained military budget and have a negative impact on troops in the field.