Sunday, 30 August 2009

Wednesday, 19 August 2009

QE - more, more more!

UK debt rises to £799 billion or £13,000 per person

If you were hoping that Britain’s financial situation was getting better, you’re about to be sorely disappointed. Official figures have shown that UK debt has now reached a record £798.8 billion – equivalent to 56.6% of gross domestic product (GDP).

David Kern, Chief Economist at the British Chambers of Commerce (BCC) said“Although slightly smaller than feared, these figures confirm the grim state of our public finances"

“We believe that the risks of a relapse in economic activity are still serious,” he said. “With bank lending remaining weak and unemployment continuing to rise, there is still an urgent need to reinforce the stimulus. We urge the MPC to increase the QE programme at its next meeting"

He got his wish - Merv even wanted more!



Odious (or Hostile-to-the-borrower) Debt is a legal theory which holds that “debt incurred by a regime for purposes that do not serve the interest of the nation … should not be enforceable as the debt was not incurred by the nation or (by or for) its people, but by the interests of the regime, whether elected or not.”

Reject odious debt!


Iceland´s Refusal To Pay, A Quantum Leap Away From Debt-Slavery

Here in Iceland people say, that if the country´s government agrees to give in to British and Dutch blackmail to pay the debts of the private internet-subsidiary Ice-Save of the private bank Landsbanki, we all will become Ice-Slaves.
So public opinion is forcing the parliament to refuse unconditional debt-payments. According to a new agreement payments are only to be made conditional as a percentage of economic growth.

However the Icelandic stand has it´s risks. In the past countries which opposed the plans of the corporate and financial elites have experienced assassinations of their political leaders, false-flag terrorist attacks and all kinds of political destabilization tactics.