March 6. 2009
The Bank of England's extraordinary decision to create £75 billion to fight the credit crisis has won praise among the press as a bold, if risky move.
Risky indeed folks. After repeatedly slashing the prime lending rate to a near zero now they are going to be buying more government bonds so they can increase the money supply by increasing debt. This is much like the the US government is doing, except that the UK is admitting that they are printing the money. How can we believe that Helicopter Ben is not doing the same?
75 billion = 675 billion available for lending and then portions get deposited etc.....
“Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."
Sir Josiah Stamp, Director of the Bank of England (appointed 1928). Reputed to be the 2nd wealthiest man in England at that time.
"Let me issue and control a nation's money, and I care not who writes its laws, --- Mayer Rothschild (1743-1812)