How credit cards & bank loans REALLY work - Learn, & this will change your whole life!!

[kitchenboy]

You need to see this

 

 

It's a fairly short video from Glenn Beck on Fox News in the states, this graph clearly shows what dire straits the US is in and the effect the Fed printing money is having. It's happening there, it's starting here.

[yourbank]

This video explains it all well worth the watch.

 

Money As Debt

 

That video has been doing the rounds for the last 2 or 3 years. That old fractional banking stuff, don't you just love it

[yourbank]

You need to see this

 

 

It's a fairly short video from Glenn Beck on Fox News in the states, this graph clearly shows what dire straits the US is in and the effect the Fed printing money is having. It's happening there, it's starting here.

 

That must be the same news broadcaster that said that President Obama's rating was going down due to the only indicator that was negative, ie the Dow Jones(that was in spite of opinion polls showing that his approval rating was climbing ). Be careful what you read in the newspaper.

[nuke em]

That video has been doing the rounds for the last 2 or 3 years. That old fractional banking stuff, don't you just love it

 

 

actually if people were to truly understand it, they would despise it but i think you know that anyway

[davefirewalker]

I dont usually subscribe to conspiracy theories...........most of the people putting them forward are nutters....bending the "facts" to their own use, but no more than our trusted politicians.

 

I have just come accross this interesting snippet

 

Silent Weapons for Quiet Wars

 

it rings far more true than I had thought..........its worrying !!

 

Dave

[nuke em]

I dont usually subscribe to conspiracy theories...........most of the people putting them forward are nutters....bending the "facts" to their own use, but no more than our trusted politicians.

 

I have just come accross this interesting snippet

 

Silent Weapons for Quiet Wars

 

it rings far more true than I had thought..........its worrying !!

 

Dave

"

Dave, Fractional reserve banking and how 97% of all money is created as debt is not a "conspiracy theory",( i certainly never suggested it was, nor do i believe it is) but a business plan actioned by the central bankers over many years, it is done with one motive in mind, PROFIT ( for the bankers) DEBTS for us, the sheeple.

 

Hey, isn't that why we are all on this forum, 'cos we all have debts of one form or another that are drowning us ?

 

so, the business plan is working then..................

Edited March 24, 2009 by nuke em

[charlie*]

Dollar's status under attack from China (Independant Newspaper)

 

World leaders gear up for reform of global system

By Sean O'Grady, Economics Editor

 

Tuesday, 24 March 2009

 

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Another skirmish in the war of words in the most important economic relationship in the world – that between the US and China – broke out yesterday, as the Governor of the People's Bank of China called for reform of the IMF and the promotion of the fund's own longstanding but underused "world currency"– special drawing rights (SDR).

Related articles

 

 

• Blanchflower warns of 'horrible' things to come
  
• Mary Dejevsky: Britain, not Europe, will be the outsider at the G20 summit
  

 

His remarks come as the managing director of the International Monetary Fund said that any plans, such as those being pursued by the G20, to stimulate the world economy would fail unless the banking system is repaired.

Dominique Strauss-Kahn said: "You can put in as much stimulus as you want. It will just melt in the sun as snow if, at the same time, you are not able to have a generally smaller financial sector than before but a healthy financial sector at work."

Zhou Xiaochuan, the governor of the Chinese central bank, implicitly criticised the status of the dollar as the world's sole reserve currency. "The price is becoming increasingly high, not only for the users, but also for the issuers of the reserve currencies," Mr Zhou said.

He added: "The role of the SDR has not been put into full play due to limitations on its allocation and the scope of its uses. However, it serves as the light in the tunnel for the reform of the international monetary system.

"The goal of reforming the international monetary system, therefore, is to create an international reserve currency that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies."

SDRs were developed by the IMF in the 1970s as a method of increasing funding for international trade, at a time of rapid growth and a shortage of public and private liquidity. In recent years, however, the SDR has been neglected, in part because of the Chinese "wall of money" lubricating the world economy.

The central bank governor's intervention can be viewed as a counter-attack to the attacks on China – most recently by the US Treasury Secretary, Tim Geithner – for her refusal to revalue the yuan upwards. The gaping US-China trade deficit – running to $266bn last year – is widely regarded as the most important of the "global imbalances" that underlie the current crisis.

Currently the SDR is backed by a "basket" of the world's leading currencies, of which the American dollar is the most important, accounting for 44 per cent of its weight. The euro (34 per cent), the pound and the yen (11 per cent each) make up the rest. A downweighting of the dollar in the SDR and the "creation" of more SDRs by the IMF – in the same way that a commercial bank multiplies customer deposits through lending – would signal a further rebalancing of world economic power in favour of China.

It would, presumably, be accompanied by an increase in the voting power of China within the IMF, which is roughly the same as Italy's, despite China being perhaps the third largest economy in the world, and Italy the seventh.

Reform of the IMF's governance, long promoted by Gordon Brown, has been a running sore for many years. Over the weekend the Prime Minister of Australia, Kevin Rudd, backed China's claim for a bigger role at the IMF. Australia is co-chair of the G20's group on reform of international institutions.

However, at the G20 Summit in London on 2 April, a large increase in the funds available to the IMF, from $250bn to $500bn, seems set to be one of the few concrete achievements – without reapportioning voting rights. The European Union agreed in principle to the move last week.

The calls from China for IMF reform are echoed by George Soros, who said that the IMF should use new SDRs to "protect the periphery countries from a storm created in the developed world".

___________________________________________________________

 

For the past 200 years we have had wars and revolutions.... and each time the banksters have grown more powerful taking over control of the issuance and control of more and more nations' money through deals,

bribery and interference of one sort or another with politicians....

"Allow me to issue and contral a nation's currency and I care not who makes it law" (Either Amschel or Nathan Rothschild, I forget).

And this is exactly what has happened in their long term plans to take over total and absolute world control with not means of escape, ever.

 

It means worldwide totalitarianism, ruled by the top private banks, one world government, one world bank, one world currency, but, it is necessary, I believe for the UK to fully integrate with the EC.

Are the Chinese in on it too?

 

Am I crazy?.... I dunno, you tell me.... all I know is that 97% of ALL money is created in debt.... with respect, I think Dave might read the history of the Rothschild family and start googling from there.

 

Charlie*

Edited March 24, 2009 by charlie*

[jimbo7679]

Under normal recessionary conditions inflationary policies are acceptable, but given already high inflation, pushing inflation still higher is itself damaging .The Bank of England has now signaled creating £150 Billion of printed money which by the time it gets round the magic of "legal fraud" aka Fractional Reserve Banking it will multiply to £1.5 Trillion which will set off hyper inflation

 

So we now have deflation in real assets now, Houses, cars, big ticket items then we will have hyper-inflation by the end of the year

 

. WE ARE THE NEW ICELAND!!!

 

 

Forgive me for being a bit crazy here, but surely for those of us in debt an element of hyper inflation would allows us to get out of debt pretty bloody quickly simply by delaying payment for a day or two! I know i'm over-simplifying but even still....

[davefirewalker]

"

Dave, Fractional reserve banking and how 97% of all money is created as debt is not a "conspiracy theory",( i certainly never suggested it was, nor do i believe it is) but a business plan actioned by the central bankers over many years, it is done with one motive in mind, PROFIT ( for the bankers) DEBTS for us, the sheeple.

 

Hey, isn't that why we are all on this forum, 'cos we all have debts of one form or another that are drowning us ?

 

so, the business plan is working then..................

 

hey you are preaching to the choir.......

 

I have changed my views on things over the past few years........but it is difficult to get a handle on what is going on..........there is so much disinformation and misinformation about........have a GOOD read on that link I posted........

 

makes you think

 

Dave

[nuke em]

Forgive me for being a bit crazy here, but surely for those of us in debt an element of hyper inflation would allows us to get out of debt pretty bloody quickly simply by delaying payment for a day or two! I know i'm over-simplifying but even still....

 

If hyper-inflation was to apply to hard assets, such as Houses, Then, yes every week your house is worth, say another £1000 and you can use it like a giant ATM machine to "borrow" against it ( equity release) & pay down your debts..

 

But

 

if it applies to currencies ie the pound in your pocket then no , every week/month/year you need to find more currency to buy the things you need and pay your bills/debts

 

 

We are heading for asset deflation, ie houses/cars/big price items/foreign holiday etc are going down in price - this is already evidenced everywhere and then, within the next 6 to 18 months the UK will experience massive currency inflation , Zimbabwee style if we are not careful, where the price of bread for example could increase every week/day/hour/minute. this is not a good place to be..

 

Go on to youtube and google Zimbabwe inflation to see a real life example of this happening right now. In most places in that country you need to pan for gold just to exchange it for bread !!!!!, they wont accept currency as it is worthless.

 

Gordon the clown will do anything to get himself elected next year so they will keep inflating all they can ( via the printing press", ie monitizing our debt ) , at the expense of the long term future of this country. The more they pump in the longer and deeper the problems will be, simple economics 101

 

Little fly in the ointment today, the Govenor of the Bank of England said that the UK Gov had to think about cutting back its big, bloated budget spending plans . oops that was "off message" then....

 

be very interesting to see what happens at the G20 conferance on April 2nd

 

 

I know this is a debt forum BUT the safest place for anyone who has any money is, in order of preferance

 

Gold - not jewelrey,but coins & bars, Krugerrands, eagles, Sovereigns etc

Silver - Bullion coins & bars but not Jewelrey

Cash - Buy a safe or hide it well, cash will grow massivley in purchaing power in the next 6 to 18 months as not many people will have much real cash.

Lastly, Goverment Gilts, even premium Bonds

 

 

--

 

DO not keep money in a bank account on deposit, keep the bare minimum you need,

Most stocks & shares are going way down before they rise again

Unit trusts/ Funds etc the same, so sell now or get less for them later on

Most financial instruments are dodgy at this present time, all can go to zero or just get "TURNED OFF" so get out of them as well

 

This is all about self-protection now, the old days of spend, spend,borrow, spend & spend are over !

 

There is a reason i have 2 large German Sheppard Dogs, , they are "money" , they provide my family with "value" !

Edited March 25, 2009 by nuke em

[nuke em]

hey you are preaching to the choir.......

 

I have changed my views on things over the past few years........but it is difficult to get a handle on what is going on..........there is so much disinformation and misinformation about........have a GOOD read on that link I posted........

 

makes you think

 

Dave

 

 

if you mean do these people think they/the world be better off if a couple of billion were "no more" on this planet , then yes i think that's all part of their "business" plan , god help us. after all if you control the currency/money supply...... rules dont apply !

[nuke em]

Update, Look for one almighty Row after the G20 , Britain & the Uk have already been sidelined - We now have one of the highest debts to GDP in the world! - we can't sustain it!

[charlie*]

One of the Rockerfella family - who made their money out of oil, from the time of the Civil War, perhaps the second wealthiest family in the world, SECOND to the Rothschilds who own and control Brown and his mates and are a part of the Cabal - Illuminati, that small group of banksters who own the central banks, once quipped on US tv when the question of over-population ... "well, we'll just get rid of a few million".

 

What the world needs is the repeal of the Federal Reserve Act (1913) and revert the creation, control and issuance of money to the US Treasury. One US Senataor has stuck his neck out, risking his life as you can see in the fillowing 1 minute video.....

-----------------------------------------------------------------

 

It all happened at once:

 

* The US was railroaded into taking the side of Britain in WW I

 

* The draft was instituted

 

* Federal taxation of work people's incomes began (to pay the Fed)

 

* US citizens began to be conditioned to invest their money in Wall Street creations instead of local enterprises... and

 

* The so-called Federal Reserve, a consortium of PRIVATELY owned banks that was given complete control over the country's money supply, was created.

 

For the first time in many decades, a US Congressman is calling for the

Fed to be taken back by the US government.

 

Details:

 

Kucinich: Nationalize the Fed

 

People won't talk about it but.....,

 

Abe Lincoln was assasinated shortly after announcing that the US Treasury was going to issue 'greenbacks', silver backed paper currency that was debt free.

 

John Kennedy too was assasinated after announcing his version of debt free money and his proposal to repeal the Federal Reserve Act of 1913.

 

President Garfield was also assasinated for what he had to say in public about the monetary system.

 

So if, what our (lying) government sez is true, that the Bank of England was nationalised in 1946 - which means the old owners, the private banksters, the Rothschilds and their mates were removed in favour of The UK Treasury, ie; the goverment, the people - us, you and I, then WHY in god's name are we in so much debt to the Bank of England (debt that can never be paid off) and as, from time to time, the interest rates are such that houses are repossessed, jobs are lost, etcetera et al, WE, the ordinary people who own the frickin bank are being shat on from a great height as these banksters engineer every recession and periods of growth. Dennis Healey got it right when he said that "nothing happens by accident in politics or commerce".

 

As it is our income tax that pays the interest to the Bank of England, WHO GETS THAT INTEREST???? - D'you know, does anyone? We know about the Fed, it's owned by the private banksters (same crowd) and it is them who collect the dough (which is why it was set up in the first place)... but in the UK... WHO GETS IT? - that's what I want to know...

 

Such monumental lies these people, the banksters and the politicians tell... how they can look ordinary people, their own kids and friends in the eye without batting an eyelid, knowing they are ruining their future world, I really don't know - they're just plain evil if you ask me and I'd bet that Blair (who draws £2million a year from J P Morgans of Wall Street, one of those banks that owns the central banks and , it is reported, is the US representive of the Rothschilds (I wonder why?)

 

To end this, which is a long one for me, I was listening to early morning radio yesterday and they were talking about how when Brown was Chancellor of the Exchequer he was totally against the EU, but of recent times he's become an ardent supporter - could he have been bought too with promises of riches after he's taken us into the euro? - £2miilion a year seems a cheap price for selling your country to the totalitarian states of europe.

 

It all makes me feel really bad about the future .... anyway, I'm on a winner now, a new global money making biz that'll get me out of the hole I got myself into.

 

charlie*

[Stornoway]

Nuke em

 

Lets have a little wager and we can pop back in say 1 month 3 months and 6 months and see who is right. Here is where we are today on a few values / indices;

Gold (oz) - 938.25

Exchange rate £ : € -1.068

CPI inflation -0.0%

Base rate - 0.5%

FTSE - 3925

Dow Jones -7924

 

Here are my predictions;

30th April

Gold (oz) - 960

Exchange rate £ : € -1.08

CPI inflation - (0.2)

Base rate - 0.5%

FTSE - 3700

Dow Jones -7600

 

30th July

Gold (oz) - 980

Exchange rate £ : € -1.10

CPI inflation -(0.4)

Base rate -0.5%

FTSE - 3800

Dow Jones -7800

 

31st October

Gold (oz) - 990

Exchange rate £ : € -1.12

CPI inflation -(0.2)

Base rate - 0.75%

FTSE - 3900

Dow Jones -7900

[Stornoway]

Update, Look for one almighty Row after the G20 , Britain & the Uk have already been sidelined - We now have one of the highest debts to GDP in the world! - we can't sustain it!

 

More nonsense. Below is a list of Debt : GDP figures, the actual numbers are a little out of date and relate to the start of the crisis but all countries have been borrowing heavily in the last few months. What it shows is that we were ranked 50th and much better placed than many of the other large industrialised nations.

 

List of countries by public debt - Wikipedia, the free encyclopedia

 

Even if you include the stakes the government has taken in the banks as new debt then you have to also incude the asset value they have received in return - the debt has been used to buy shares which do have a value.

[Stornoway]

Are you a bankster? or do you work in the financial sector?

 

1. If we have our currency debased , we will be the new Iceland

ICELAND HAS A POPULATION OF 300,000, THE FISHING INDUSTRY ACCOUNTS FOR 40% OF GDP AND IT HAS LITTLE OTHER INDUSTRY. IN THE LAST 6 MONTHS UNEMPLOYMENT HAS INCREASED FROM 1% TO 10%. IT HISTORICALLY HAD STRUCTURALLY HIGH INTEREST RATES AND MANY OF ITS CITIZENS GOT INVOLVED IN THE "CARRY TRADE" - BORROWING AT CLOSE TO 0% IN JAPANESE YEN AND INVESTING IN ICELAND AT INTEREST RATES OF C.10%. THE BANKING SECTOR THEN FELL OVER, THE CURRENCY COLLAPSED AND ITS PEOPLE ARE LEFT WITH HUGE FORIEGN CURRENCY LOANS WHICH THEY CANT PAY. WE ARE NOT THE NEW ICELAND.

 

2. i dont remember saying we will have 17% interest rates, but if i did then a revision is needed here., We willl have double digit interest rates by the end of 2010, we will need them to try and keep the then currency inflation under control.

NO WAY - DEFLATION IS THE POSSIBLE PROBLEM AND ITS NOT COUNTERED BY DOUBLE DIGIT INT RATES

 

3. Yes we will my friend, and the Gov knows it, there are 2 reports circulating about potential civil disorders/riots this Summer 2009. One is by the Met Police and the contingency plans they are drawing up to "deal" with it. We are heading for a massive financial metdown the likes of which we have never experienced before.

DONT DISAGREE THAT WE WILL HAVE THE USUAL NUTTERS OUT IN FORCE FOR G20

 

UPDATE - did you see Panorama tonight, at the end of it, Labour MP Frank Field talked about it potential upcoing civil disorder to to the financial crisis.

 

See above

Edited March 26, 2009 by Stornoway

[Stornoway]

We have lost revenues from North Sea Oil ( it has all but run out), we rapidly losing the revenues from the City of London/financial sector . What do you suggest we use to replace them as the 2 key drivers of UK GDP ?

 

Housing? going down by the day

Tourists? - yes they might come, but buying three extra ice-creams wont help

Manufacting?, - all gone to China and we can't compete on price with them.

 

Yet more half truths.....

 

UK Financial Sector - I agree that we are rapidly losing revenues and need to protect the sector whilst punishing those that have made mistakes.

 

North sea oil has potentially 40 years of reserves left BBC NEWS | UK | Scotland | Oil reserves 'will last decades'

 

Average tourist spends in the uk from middle east visitors were £2,684 lowest was from australians at £413 (hardly three ice creams) http://ec.emap.com/retail/retailweek/pdfs/touristspend/TouristSpendAug08.pdf

[nuke em]

One of the Rockerfella family - who made their money out of oil, from the time of the Civil War, perhaps the second wealthiest family in the world, SECOND to the Rothschilds who own and control Brown and his mates and are a part of the Cabal - Illuminati, that small group of banksters who own the central banks, once quipped on US tv when the question of over-population ... "well, we'll just get rid of a few million".

 

What the world needs is the repeal of the Federal Reserve Act (1913) and revert the creation, control and issuance of money to the US Treasury. One US Senataor has stuck his neck out, risking his life as you can see in the fillowing 1 minute video.....

-----------------------------------------------------------------

 

It all happened at once:

 

* The US was railroaded into taking the side of Britain in WW I

 

* The draft was instituted

 

* Federal taxation of work people's incomes began (to pay the Fed)

 

* US citizens began to be conditioned to invest their money in Wall Street creations instead of local enterprises... and

 

* The so-called Federal Reserve, a consortium of PRIVATELY owned banks that was given complete control over the country's money supply, was created.

 

For the first time in many decades, a US Congressman is calling for the

Fed to be taken back by the US government.

 

Details:

 

Kucinich: Nationalize the Fed

 

People won't talk about it but.....,

 

Abe Lincoln was assasinated shortly after announcing that the US Treasury was going to issue 'greenbacks', silver backed paper currency that was debt free.

 

John Kennedy too was assasinated after announcing his version of debt free money and his proposal to repeal the Federal Reserve Act of 1913.

 

President Garfield was also assasinated for what he had to say in public about the monetary system.

 

So if, what our (lying) government sez is true, that the Bank of England was nationalised in 1946 - which means the old owners, the private banksters, the Rothschilds and their mates were removed in favour of The UK Treasury, ie; the goverment, the people - us, you and I, then WHY in god's name are we in so much debt to the Bank of England (debt that can never be paid off) and as, from time to time, the interest rates are such that houses are repossessed, jobs are lost, etcetera et al, WE, the ordinary people who own the frickin bank are being shat on from a great height as these banksters engineer every recession and periods of growth. Dennis Healey got it right when he said that "nothing happens by accident in politics or commerce".

 

As it is our income tax that pays the interest to the Bank of England, WHO GETS THAT INTEREST???? - D'you know, does anyone? We know about the Fed, it's owned by the private banksters (same crowd) and it is them who collect the dough (which is why it was set up in the first place)... but in the UK... WHO GETS IT? - that's what I want to know...

 

Such monumental lies these people, the banksters and the politicians tell... how they can look ordinary people, their own kids and friends in the eye without batting an eyelid, knowing they are ruining their future world, I really don't know - they're just plain evil if you ask me and I'd bet that Blair (who draws £2million a year from J P Morgans of Wall Street, one of those banks that owns the central banks and , it is reported, is the US representive of the Rothschilds (I wonder why?)

 

To end this, which is a long one for me, I was listening to early morning radio yesterday and they were talking about how when Brown was Chancellor of the Exchequer he was totally against the EU, but of recent times he's become an ardent supporter - could he have been bought too with promises of riches after he's taken us into the euro? - £2miilion a year seems a cheap price for selling your country to the totalitarian states of europe.

 

It all makes me feel really bad about the future .... anyway, I'm on a winner now, a new global money making biz that'll get me out of the hole I got myself into.

 

charlie*

 

Charlie we are on the same page!, Yes Brown will sell out, he did it before when he sold out Gold in 1999 ( rumor has it that Goldman was 1000 tons short in Gold , Brown dumping 415 tons on the market at the bottom help to save GS, they still exist, he is now PM, good pay day!

[nuke em]

Yet more half truths.....

 

UK Financial Sector - I agree that we are rapidly losing revenues and need to protect the sector whilst punishing those that have made mistakes.

 

North sea oil has potentially 40 years of reserves left BBC NEWS | UK | Scotland | Oil reserves 'will last decades'

 

Average tourist spends in the uk from middle east visitors were £2,684 lowest was from australians at £413 (hardly three ice creams) http://ec.emap.com/retail/retailweek/pdfs/touristspend/TouristSpendAug08.pdf

 

 

Yes i was being sarcastic with the ice creams, but if you think Mr & Mrs Tourist are going to replace UK Oil & UK financial sector revenues you are not of this planet.

 

 

you are incorrect about North Sea Oil. why, just look how much we need to import, if it was still there, we'd use it instead of relying on imports

[nuke em]

More nonsense. Below is a list of Debt : GDP figures, the actual numbers are a little out of date and relate to the start of the crisis but all countries have been borrowing heavily in the last few months. What it shows is that we were ranked 50th and much better placed than many of the other large industrialised nations.

 

List of countries by public debt - Wikipedia, the free encyclopedia

 

Even if you include the stakes the government has taken in the banks as new debt then you have to also incude the asset value they have received in return - the debt has been used to buy shares which do have a value.

 

 

Wiki again, with very old data ... The Gov owned uk banks are BUST, the assets the "WE" own & you describe are blown out of the water by their LIABILITIES. They are corpses been given morphine every day

 

 

Your answers make me think you work in the UK financial sector!

[nuke em]

Yet more half truths.....

 

UK Financial Sector - I agree that we are rapidly losing revenues and need to protect the sector whilst punishing those that have made mistakes.

 

North sea oil has potentially 40 years of reserves left BBC NEWS | UK | Scotland | Oil reserves 'will last decades'

 

Average tourist spends in the uk from middle east visitors were £2,684 lowest was from australians at £413 (hardly three ice creams) http://ec.emap.com/retail/retailweek/pdfs/touristspend/TouristSpendAug08.pdf

 

 

ALso you only responded to 2 of the 3, what about Manufacturing ? where has all that gone, the lifeblood of any economy ? The biggest employer by sector , typically ?

 

i'll tell you where, its gone to the Far East and it ain't coming back here any time soon!

[yourbank]

Wiki again, with very old data ... The Gov owned uk banks are BUST, the assets the "WE" own & you describe are blown out of the water by their LIABILITIES. They are corpses been given morphine every day

 

 

Your answers make me think you work in the UK financial sector!

 

They don't own RBS and Lloyds if that is the banks you are referring to, UK Government are majority shareholders in a public limited company. "We" do not own the bank.

I used to work in the financial services sector(for reference).

[nuke em]

They don't own RBS and Lloyds if that is the banks you are referring to, UK Government are majority shareholders in a public limited company. "We" do not own the bank.

I used to work in the financial services sector(for reference).

 

 

We,. as in the British Taxpayer, via our elected clowns in Westminster own majority shares in Lloyds & HBOS, therefore we the taxpayer own the banks as we have majority shareholding ! In essence they have been nearly fully nationalised

 

Stornoway was who i was referring to with regards to my question on did he work or does he work in the financial sector.

[nuke em]

This guy is very good, has a good grasp on what is going on, his name is Nadeem Walayat,

 

Here is what he says about the B of E printing our life away.

 

Bank of England Ignites Quantitative Inflation :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

[yourbank]

We,. as in the British Taxpayer, via our elected clowns in Westminster own majority shares in Lloyds & HBOS, therefore we the taxpayer own the banks as we have majority shareholding ! In essence they have been nearly fully nationalised

 

Stornoway was who i was referring to with regards to my question on did he work or does he work in the financial sector.

I knew who you were referring to(thought it better to save you time asking the question) but if you own shares in a company, you do not own the bank. You might think that but that is not correct.