A trillion pounds to the bankers whilst the poor, whose tax money was given to the bankers, have their dole money cut.
FUCK THE GOVERNMENT.
FUCK THE BANKERS.
Britain 'might not cope with another bank emergency'
By Sean O'Grady and James Moore
Tuesday, 29 June 2010
Britain's mountain of debt could leave the country powerless to launch another rescue bid in the wake of a fresh financial crisis, the world's central bankers warned yesterday. Their "club" - the Bank of International Settlements - presented in its annual report a frightening picture of the impact of a second banking emergency on heavily indebted nations such as Britain.
The Bank of England's Governor, Mervyn King, has estimated that the Government has pumped as much as £1trillion of taxpayers' money into the banking system. Billions of pounds were spent part-nationalising the Royal Bank of Scotland and Lloyds Banking Group, as well as fully nationalising Northern Rock, in an attempt to stave off collapse. Measures such as the "special liquidity" scheme propped up other lenders and prevented the system from freezing up.
But a BIS report warned yesterday that repeating these measures could be impossible. It said: "Events coming out of Greece highlight the possibility that highly indebted governments may not be able to act as a buyer of last resort to save banks in a crisis. That is, in late 2008 and early 2009, governments provided the backstop when banks began to fail. But if the debts of the government itself become unmarketable, any future bailout of the banking systemwould have to rely on external help." Central bankers fear Europe is running out of "external backstops" that could step in, other than the US and the International Monetary Fund. This has unnerved capital markets in the EU, prompting some sharp swings in the value of shares and other financial instruments in recent days.
The BIS has previously said that the ultimate calamity - payments systems freezing and cash machines running out of money - was only narrowly avoided when the US investment bank Lehman Brothers collapsed in 2008. A deeper economic slump was averted by nationalising other banks and making loans amounting to $10trn (£6,620bn).
But the BIS report implies that governments may not be able to repeat such a bailout in the event of a second crisis, which some commentators fear could be triggered by another economic shock.
Despite the warnings, the G20 nations significantly eased the pressure on banks this week by delaying the introduction of tougher rules on the amount of capital they must hold to deal with potential crises. The new regulations were planned for the end of this year but are not now due until 2012. Countries will also be given far more leeway inhow the rules must be applied. Critics say this amounts to a watering down of the reforms needed to stave off the sort of disaster the BIS fears.
The BIS alsowarned that the "fragility" of public and private balance sheets in the UK,France, Germany, Spain and the US "severely limits the scope for fiscal policy intervention if another bailout is needed". It added: "The side effects of the financial and macro-economic supportmeasures, combined with the unresolved vulnerabilities of the financial sector,threaten to short-circuit the recovery; the reforms necessary to improve the resilience of the financial system [have] yet to be completed."
In remarks that in effect back the German and UK governments' success at the G20 over deficit reduction, the BIS argued for "immediate, front-loaded fiscal consolidation", noting that "the time has come to ask when and how these powerful measures can be phased out".
The BIS also dropped the broadest hint yet from an international body that a Greek sovereign debt default was now an accepted fact. It said: "As the long history of sovereign debt crises has shown, when investors lose their confidence in a country's ability to service its debt and become unwilling to hold it, rescue packages, bailouts and even debt restructuring remain the only options."
The BIS added that the official projections for public debt, including Britain's, underestimated the extent of the additional pressure that ageing populations will place on welfare and health spending. The BIS suggested that, if corrective actionwere not taken, the ratio of the UK's debt to gross domestic product (GDP) would rise from 70 per cent of GDP to 450 per cent by 2040 - a burden that would become "unsustainable" long before that was reached.
The 56 members of theBIS also suggested that interest rates ought to rise sooner rather than later as they were "discouraging needed reductions in leverage [debt levels], thereby adding to the distortions in the financial system and creating problems elsewhere". "Direct support" to banks, via recapitalisation and loans, was "delaying vital post-crisis adjustment", the BIS added, saying: "despite the improvement to balance sheets, several factors raise doubts about the sustainability of bank profits".
In an overwhelmingly gloomy assessment of the state of the world, the BIS also points to the risks of emerging economies overheating, and the continuing weakness of the commercial real-estate market, also highlighted recently by the Bank of England.
But dismissing fears of a "double dip" recession, the BIS argued that any initial costs of fiscal tightening would be "outweighed by the persistent benefits of lower real interest rates, greater stability of the financial system and better prospects for economic growth".
Wednesday, 30 June 2010
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I personally think the best option would have been to let the Banks fail, then made an executive decision to wipe out everyones mortgage, credit card bill or loans to those banks.
People might argue but those debts were sold on to international banks.
The answer to that is that the people had a contract ONLY with the original lender.
People would have had more money so would have spent, so stimulating the economy.
How much money would you have extra eachh month if your mortgage had been forgiven.
The way it's been done instead, the British and Europeans are now enslaved to pay off a Bankster stimulus package.
Max Keiser on Russia Today
There will be no double dip, this is simply a never ending downward spiral, a simple transfer of wealth(power) to the elites.
Don't look for any recovery it aint going to happen, it is impossible on the course we are on and that was the plan.
What you will see at best is people becomming accustomed to poverty, the press will sell it as they already are as a virtue and invoke rosey images of the post war period, for all the wrong reasons, though again the same people did profit, the bankers!
The people will do nothing because there is not a styrong enough opposition to the system.
It might be possible in other nations that have a strong nationalist following but then we would have to wait for that, though chances are the media will keep us isolated and feed us bullcrap on the daily propaganda shows.
We must have closer ties with the other nationalist groups, we cannot do this alone, everytime a nationalist does well in Europe they should be invited to speak.
It generate publicity, hope, kinship and strength.
The beautiful Lady from Jobbik would be an outstanding guest.
All nationalist groups within Europe should use her as the pin up girl of nationalism, she not only is beautiful, but she is clearly very intelligent and brave also.
She would wipe the smiles of the lefts dishonest face, if she came to give a well pubicised speak on political oppression, Just as Nick did in Europe last year.
Shine a spotlight on the real haters!
She could attend the EHRC? court cases to highlight the injustice and persecution, this would make the slime think twice about pushing the BNP when it generates negative publicity.
it also puts paid to the hateful treasonous `little` Englander jibes.
I believe it's all about information, people can only process what they see.
Censorship ensures they only see what the power elites want them to see.
I agree with Anon, there will be no recovery, because the best way to have control over peoples lives is to make them poor and impoverished.
If people knew about Malmo, the paris suburbs, the 50 million africans being invited in, the Euromed Agreement, Turkey, they would start to see the real agenda
but mostly they don't see it.
This apathy is not due to stupidity or being brainless it is simply due to lack of information.
The amount of alternative media getting out to the public needs to be increased.
People have a survival instinct, the trouble is in order to trigger that instinct, they need more information.
You dont even need to spell it outt to them, just give them the info, they will piece the jigsaw together themselves, they know something is wrong, the trouble is they are being lied to and they don't have enough pieces of the Jigsaw to be able to see the whole picture.
They need more information.
For anyone who fancies making some DVD's, there is masses of information out there on Youtube, simply dowload and burn them to disc.
25 DVD-r cost around £7
DVD-r will play on a normal DVD player as well as pc.
and can easily hold 3hrs worth of med quality video.
Thats 18 ten minute videoss off youtube.
This video should be relatively tame, you don't want visits by the police claiming you are distributing material likely to incite etc.
Just want to let them know about topicss suvh as malmo, paris, belgium etc, in addition, very few people ever get to see a speech by Arthur Kemp and others which can be downloaded off the main site.
Keep the vids relatively tame so as not to give them the escuse to attack you or the BNP, the idea being to just open the publics eyes to the fact that there are very serious issues going on out there that they are not being allowed to see.
News reports and mainstream interviews are good because thety have been 'officially' released
The public need to hear people like Mark Steyn, Michael Savage, David Duke etc.
This is an information war ( for the moment )
Free DVD Authoring tools
at first I see Adrian going down the infowars route with the dvd burning system which is fine, a good system.
I would like to take it a step further, giving it an official structure and probably something we should have done years ago.
We would now likely to be at least twice as big as we are now with a seat in the commons.
the way i would change Adrians idea is that i would get the BNP itself to produce such a DVD, and give 5 copies to each new BNP member, one for themselfs and 4 to be handed on, also the copy they have can be re copied as many times as they like.
It should be professional looking and fact filled, the BNP always bang on about education but it never really happens and will never reach more than a few hundred, a thousand at best.
what I am proposing could reach 100,000 within a year and keep growing in number.
We should have it distributed in key electiion areas at election times, not sat on the BNP site waiting for someone to buy it for £10.
Since the last election i have proposed many new ideas along with adrian and yourself lee that i believe would kickstart the BNP to new hights yet nothing seems to be happening, we hear of new fandangled expensive election systems but that is just fringe work, it does not convert people just helps to get them out on polling day, it will not make enough of a difference no matter how snazzy it all sounds, in short it is trivia, tinkering at the edges.
We need a system to turn us into a mass populist movement, rather than getting our message out i just see a watering down of our message.
just a few short years ago we could only have dreamed of being able to afford a free DVD with member subscriptions etc, yet today these things cost pennies to make once produced.
However i must say that radio red white and blue was a good start, and BNP TV has always been a fantastic addition in making us the media rather than relying on it.
We need to focus on reach, image and information.
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