Friday, 24 August 2012

Quantitative easing - the Con of the Century

The song goes "We're living in a Gangsters Paradise" - and so it seems. Major British Banks accused of Laundering Money for Terrorists and Drug Barons. How much did the humble British Tax Payer fork out to bailout the Bankers? How much did the Bankers charge Small Businesses to redress the balance? How much did interest do we now pay for the whole mess? 
All those cuts - tuitition fees, defence, care, education , local government etc. What about the Libor fixing scandal?
Now we have another massive scandal which seems to be dwarfing even these - the Con of QE or quantitative easing.
To keep the economy afloat we are told - the Bank of England was authorised to literally print money - and give it to (guess who - the Bankers) by the occult dark magic which is "quantitative easing". Nobody really understood what was going on but we trusted once again the Groaning Gnome of London, aka Bank of England Boss - Eddie George.

What happened - nothing. Growth stalled and we went back into recession. So they did it again and again.

Now finally someone has worked out what happened and where the money went - and yes you have guessed it - straight into the pockets of the Rich and Super Rich.

 Now a study by the Bank Of  England itself  published in the Independent shows the Superich have gained 240 times more than the poorest

Imagine the Tories suggesting a grant of £350,000 to Millionaries and financing this by cutting interest for old age savers and by printing money.

No wonder the Times Rich List  have seen a rise in the fortunes of the Super Rich. Whilst in the real world, living costs have been rising sharply and real wages falling.

Historians will view the years 2005-2015 as the Decade of Deception when ordinary people saw their wealth and income shrink in a wealth transfer to the super rich and elite who control the economic levers.

No comments:

Post a Comment