The effects won’t be felt for years and the effects won’t be felt anywhere outside London.

http://lettersfromatory.wordpress.com

We have been scammed, plain and simple. And the socialists have fallen for it hook, line and sinker, thinking that the bail-out somehow gives the people “power” over the banks, bankers and bankers’ bonuses.

Mr Redwood, you have to get the front bench to up the ante now at PMQs and in the press in taking this mendacious bunch of charlatans running our country to task, expose their hypocrisy and lies. You also need to start taking the BBC to task, their pro-Labour bias is now so blatant that the only solution is privatisation and withdrawal of the licence fee.

I, for one, have had enough. I don’t think that you and your colleagues have a real sense of the anger that Mr Brown and his cronies have instigated in the British people. They have pulled over our eyes for the past eleven years and the mainstream press are complicit in the New Labour fraud.

A general election can’t come soon enough.

Apologies for digressing slightly off-topic.

Why not Print £40 billion and issue that into the Economy, it’s the same thing, except there would be no £40 billion to pay back, and no Interest.

Hey Presto, I’ve just saved us £40 billion.

The Quangos cost us £100 billion per annum, the EU Costs us £20 billion NET.
Two Illegal wars.

If Brown is a socialist like he says, he wouldn’t have bailed out the Banks, he would have declared all Bank loans and Mortgages Null and void, Giving people their Cars, their homes and their Businesses free of charge.
( But he didn’t, so who does Brown really work for, you and I, or the Global Bankers. )

doing this would have freed up around £500 Per month for most families.
They would have spent, so stimulating the economy that way.
New banks would have sprung up.
If Brown wants to help pensioners, it’s easy, simply don’t Tax Pensioners, Better yet, let them keep the whole of their annuity, not just the Interest. it belongs to them and their family, not the Pension company.
But no, he has done it the other way, Enslaving us by Taxes and now creating massive state workforce for his public sector build.
If Brown wants to save Sterling, all he has to do is Back it with Gold and silver, after all it’s just lying around in the BoE Vault somewhere.
People will drop the dollar and the Euro for a currenct that has real intrinsic value, just like money should have.
Socialism was never about the People, it is about Absolute Power and Control over the Masses.

We are no longer free, we are enslaved to the state.

With most governments in the world strapped for cash due to bailing out the banks. What will happen when the IMF runs out of money?

The IMF total quotas at end-August 2008 was SDR (funny money) 217.4 billion (about $341 billion).

That will only bail out 21 countries = to that required by Ukrain

God help us all.

Our socio-economic model has three sectors; the government sector; the household sector and the corporate – private that is – sector. Regardless of where your thinking is on the political spectrum, the corporate sector supplies the interest; the wages and dividend payments that keep the other two sectors afloat; all the way to that last pension payment before you fall off your perch in the national birdcage.

Being dependant on outsiders to regularly inject sustenance – capital – into our birdcage, eventually leads to our nation falling off its collective perch when they stop. Particularly when the outsiders think your birdcage is starting to stink a bit and they find a nicer birdcage somewhere else to feed.

If your perch is in the US birdcage you currently have an advantage; the world has decided to use your bird food – the US Dollar. As the US also makes – prints – the bird food you are perching pretty, even though it may not feel like it at the moment. All the non US birdcages are the ones with the food shortage problem.

Unfortunately there is a cuckoo in our birdcage that steals a lot of the food and throws it out of the cage – government sector cuckoo bird. The trouble is we can’t see how much the cuckoo has thrown out and who is going to clean up the good bits and put them back in the cage. We also don’t know who is going to clean up the bad bits or how they will recycle them back into the cage and when. What we do know is, the more food we keep in the cage the better off the little worker birds will be. We have to pluck some flight feathers from the cuckoo.

Now, the banker bird is a useful guy to have in the cage but he is insisting on being fed first, so ………………………. .

OK, ITS SILLY; BUT, YOU TRY EXPLAINING TO THREE SIX-FORMERS – not mine – WHAT THE HELL IS GOING ON. If they don’t get A* next year, I will want to know why!

I have to confess that I am confused. From whom will the government borrow the money?

It can’t be the banks, as the govt have been pumping money into the money market because the banks are unable/unwilling to lend to each other.

Now the government is having to borrow to cover their bank share purchases. I don’t know much, but I do know that it is imprudent to borrow money to buy shares. Unless of course, like the abolition of boom and bust, in Gordon’s world the value of shares can only go up.

reply: We the taxpayers are sitting on a loss of around £5 billion on the bank shares if Gordon goes ahead at the prices he proposed with the purchases.
The money will be borrowed from a wide range of sources. Paradoxically the banks will lend to the government as this scores well for them with the Regulators, so some of it is a mad circle of government buys banks shasres to bolster bank capital so banks can lend back to government to buy bank shares. The government also aims to borrow from individuals with cash to spare, and from foreigners.