A Life Of Crime.

In 2008 it was finally revealed that the banking industry was being run by a bunch of criminals. Across the world banks had been lying and cheating their customers and deliberately inflating the global property market to a point where they managed to crash the whole world economy. They had deliberately lent money to people they knew would never be able to pay back the loans and then passed on these bad debts to other financial institutions hoping that they at least would avoid the consequences of their criminal behaviour when the inevitable market crash occurred. Unfortunately it turned out that all the banks had been involved in this cynical game of pass the parcel and that none of them were immune to the consequences. It was without doubt the largest and most widespread Ponzi scheme scam in economic history. Since then no banker has been prosecuted while the banks themselves have been the grateful recipients of billions of pounds in "quantitative easing." Far from being punished for their crimes bankers have been rewarded and have continued to stuff their pockets with bonuses stolen from the taxpayer. To protect the over-inflated property market and assure that the rich don't lose a penny of their "investments" the Bank of England has resolutely refused to raise interest rates, punishing savers and denying the country much needed investment in our floundering economy. Instead the Coalition government has squeezed the incomes of ordinary people and denied the unemployed, disabled and sick the benefits they need simply to survive. It is us, the ordinary people of Britain, who have been forced to pay the huge debt created by a privileged and criminal elite who have continued to plunder the economy for their own selfish ends. This they call a prudent economic policy, this is what they call "fair", this is what they call being "fiscally responsible." Of course it is nothing more than business as usual, a return to a discredited economic system designed to make the rich richer and the poor poorer. Unable the hide this truth from anyone with a single working brain cell and the ability to add 2 and 2 together, the Tories and their pals in the right-wing dominated press have mounted a desperate and transparent campaign to discredit Ed Miliband. The right-wing press have asked their right-wing readers if Ed Miliband will make a good Prime Minister. Of course their answer is a resounding "no" which the press is now offering as proof that Ed Miliband is not trusted by pretty much the entire country. Why aren't they asking their readers if bankers should be arrested and thrown into prison? Why aren't they asking for the £375 billion in "quantative easing" to be returned to its rightful owners - the taxpayer? Why aren't they asking why the special pleading of criminal bankers is being heeded while the cries of the sick, disabled, unemployed and dispossessed are ignored? Because they, like the Tory party, are not part of the solution but simply a part of the problem.

What Is Quantative Easing?

Mervyn King has promised another £50 billion in "quantitative easing" this month, putting the total quantity so far eased at £325 billion. But what is it? Essentially the Bank of England purchases government bonds from the banks, the intention being that this "money" will then find its way into the wider economy and boost demand. There are, however, a few problems with it. First, no extra money is actually printed - the "cash" is actually "fiat" money, an electronic transaction that simply transfers credit from one place to another. Secondly, the banks have absolutely no intention of passing this "money" on to the wider economy through loans because they would rather use it to pay their bonuses and as stake money for their gambling addiction. In other words nothing is transferred from nowhere to nowhere else and achieves absolutely nothing in the process. Why then do they do it? The Bank of England likes it because it looks as if they're doing something without risking an increase in inflation. Politicians like it because it looks as if they're doing something without actually spending any real money at all. It's as if the government has a steam engine, the boiler of which is filled with water and all that is needed is to light the furnace. Unwilling to invest in the coal necessary to make a fire, however, the government simply keeps adding more cold water to the boiler. The result of all this is stagnation. Except for one group of people that is. The bankers charge management fees for all this non-movement of non-existant money - a deserving cause I'm sure you'll all agree.