Revolution has been in the air this week. Yesterday, in France, 3 million people took to the streets in protest at the French version of 'austerity cuts'. During the week riot police fought pitched battles with demonstrators in Spain, an Irishman smashed his cement truck into the Dail and Icelandic legislators ran for cover as protestors stormed their parliament.
In the mean time the British and American establishments trotted out a pair of Charlies to say 'let them eat cake' (or at least, their savings).
The appropriately named Mr Bean of the Bank of England was the first Charlie. As the Telegraph reports, Charles Bean wants us to emulate Viv Nicholson winner of the Littlewoods Football Pools in 1961, and 'spend, spend, spend' our savings. Mrs Nicholson was as good as her word and spent spent spent until she was eventually declared bankrupt.
And then we have the odious Charlie Munger, less well known billionaire partner of Warren Buffett, the second richest man in America. This Charlie says 'Thank God the US chose Bail-outs over Hand-outs, and the ordinary working man should just '... suck it in and cope, Buddy'.
I have had it with these lying, cheating sociopath billionaires and their establishment lackeys. They are leeches who thrive on massive, fraudulent government handouts, all the while condemning genuine welfare recipients. Munger and Buffet benefited from some $174 billion of US government bailout (to AIG, General Electric, Wells Fargo ...) - welfare for bankers. Parasites like Munger, who produce nothing of value, would have us believe that they alone are special and must be saved.
Mr Bean sanctimoniously tells the public to spend their savings, while maintaining secrecy about the private savers with his own bank. Nationalisation of the Bank of England in 1946 was a sham - an exercise designed to provide a public guarantee for private shareholders. The First Schedule, paragraph 8 of the 1946 Act made it clear that control of the Banks assets remained with the previous owners/executors. To whit:
"The Government stock issued in substitution for any Bank stock shall be held in the same rights and on the same trusts and subject to the same powers, privileges, provisions, charges, restraints and liabilities as those in, on or subject to which the Bank stock was held immediately before the appointed day, ..... ".
So we have a man who is committed to increasing the value of his secret (but most certainly billionaire) shareholders investments - telling British workers to stop moaning and use up their savings. All the while his bank has connived to pour trillions of tax-payer pounds into financial black holes through structured investment vehicles and other such off-balance sheet scams - to the benefit of these same secret shareholders and their billionaire chums.
Posted by Nicholas Moore 11:29:09 am