One day the people of England will realise that socialists just cannot run the country. The last time Liebour was in government they left the economy in tatters and sure enough, the economy is in tatters again. Is it a co-incidence that most of Europe is run by socialists?
The Bank of England has dropped the interest rates again to 0.5% and asked the Chancellor for permission to start quantative easing which, being a clueless idiot, he agreed to.
Quantative easing is where the Bank of England magics money out of thin air to buy assets off banks which gives the banks more cash. The value of the pound reflects the value of UK Plc and inventing another £75bn of cash dilutes the currency, reducing its value against foreign currency. This makes imports more expensive, exports worth less and all the foreign money the British government has borrowed to bail out the banks more expensive to pay back.
The Zimbabwean central bank has been doing this for the last couple of years and has just had to knock 12 zeroes off the Zimbabwean Dollar to bring the exchange rate down from 161 trillion dollars to the pound. It was also used by the Germans between the two world wars, devalued the reichmark to a trillionth of its pre-war value and as a direct consequence, the Nazi’s came to power on the back of a policy of national socialism depriving Jews and bankers of their wealth.
The general feeling of the ruling class – certainly in the European Empire – is against national socialism and in favour of international socialism. More iNazi than Nazi – very 21st century and the Apple logo will look great on the EU secret police uniforms. Bankers and stock market traders are being held up as the cause of the recession and while the bankers, certainly, have to take some of the blame, they are not the cause of the recession. The British government’s attempts to deprive Fred Goodwin of his pension is precisely the sort of policy the Nazi’s pursued between the two wars.
Quantative easing is going to cost us a lot of money and it will take decades or an event on the scale of the second world war to rid ourselves of the consequences.
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