Opinion by Mathew Carr
A lack of understanding of economics and a corrupt media means Britain’s so-called leaders are constantly able to get away with ripping off taxpayers.
Who’s benefiting? Massive banks!
Like with most politicians and lawyers it’s what they are NOT speaking about that is the most important.
Chancellor Rachel Reeves is allowing the systematic financial abuse of taxpayers to continue … even while insisting she’s for the common people … unlike the Blue Tories she replaced.
Read this
How the Bank of England lost that £45 billion.
David Smith at establishment newspaper the Times explains in less frank terms than me … using “Bank of England / Treasury losses” instead of “ripped off taxpayers”…yet they are the same thing.
See highlights…The bond purchases… “overwhelmingly UK government bonds (gilts) bought through the Bank’s asset purchase facility (APF) with digitally created reserves, reached an extraordinary £895 billion at their recent peak — £445 billion was done in response to the financial crisis and the Brexit referendum, £450 billion as a reaction to the pandemic. At one time the Bank held nearly half of the gilts in issue.”
Design feature
So …..The system was designed to rip off taxpayers.
Reserve banks were created to fund wars. Now the are used as a tool of war against the people.
Having got away with it in vassal-state Britain the American people know what they are in for from corporate leaders masquerading as government leaders. US debt is even worse.
Taxpayers will be used to derisk climate action. Which is another way of saying big banks will make unfair profits because they are successfully paying themselves unfair millions ….even though taxpayers hold the risk.
The banks should be nationalised when used in this way.
Banker pay needs to be drastically cut since they are not managing risk….they are seeking to shift risk to taxpayers and still expect ginormous pay packets.
This “making a crisis worse so you can make tons of money repairing it” ….has to stop.
Global financial crisis, pandemic, wars … now $2 trillion a year is needed for climate action and nature protection…..every year for 30 years. Let’s skip the “making it worse” part this time….though it’s too late to hope for that.
