The State Bank of Debt

The Collective debt, not just of our profligate politicians, keen to please all of the people all of the time using our own money, but of our private households is truly astounding. Long gone are the days of careful spending, budgeting, saving, putting something aside for a rainy day, we are all maxed out on credit cards, personal loans and mortgages.

Just today, the Belgians and the French have been called upon to support Dexia Bank after it was revealed that those wise chaps had bought up huge chunks of Greek debt that will never be repaid by the Greeks, so it’s down to the taxpayer once again to support a bank that became too big to fail. Cameron advises that the UK starts to pay off private credit card debt (in other words, save the banks) whilst grabbing as much taxation as possible to pay off the debt racked up by the previous Government. All in all, your money is either going straight to the banks or via Government to the banks.

Meanwhile the European Central Bank is issuing worthless bonds it is not allowed to issue, whilst dictating to elected politicians how they must set their budgets and pensions. Voters in Southern Europe now have no say over how their country is run, a diktat is issued from unelected bankers and EU Officials in Brussels. The ballot box is now redundant, the banks grow bigger and more powerful and the theft of your money and labour by States and banks continues unabated.

Of course, I take a great interest in things Bulgarian at the moment, as I have decided to base myself there. Yesterday, their Parliament suggested that any Govt that has a deficit greater than 3% should be declared illegal (UK is currently around 10.7%, Greece has 10.5%). The prime minister politely reminded other EU states that if they paid out the same rate of pensions as Bulgarians receive, they wouldn’t be in the mess they are wallowing in. Of course, with income tax and corporation tax fixed flat at 10%, the Bulgarian state knows it has little money to play and has no desire to enslave its citizens yet again. No running to the Central Bank in Sofia and printing off a few billion Lev to fund a shiny motorway, Bulgarians deal in good hard cash, hoarded under the mattress for decades.

Remember, debt IS slavery. Money is the crystallization of labour and if you create money before the work is done, you are a slave to that money. It owns you and your future labour. The past 50 years have seen one of the biggest scams ever perpetuated by banks and politicians- have it now, your kids can pay, they’ll earn more than you ever did anyway and will be able to afford what you cannot. Suddenly kids have realised that a degree in Aromatherapy and the Medium of Dance is not worth £9000 a year (now they have to pay for it, not me) and they are pretty soon going to twig that all this State debt is going to have to be paid off by them because we don’t have any money. Whatever we have is already being fleeced off us by the State every time we spend or earn (up to 73% tax for some low earners SOURCE).

The solution? Let the banks that acquired the profligate debt caused by Politicians fail. To the wall with them, begone foul moneylenders. The cosy relationship between banks and the access to taxpayers money must stop. Until it does, the very real risk of a bank becoming a functioning State, able to dictate policy over citizens, able to extract taxes instead of charges and able to control the entire money supply is simply too great to tolerate.

Don’t say you weren’t warned.