Patriotism Cloaks the Scoundrels 94

It is very sickening to see Cameron, Osborne and Johnson dressing up their opposition to a financial transaction tax as a defence of the UK against Europeans. Reducing the attraction of multiple financial speculative transactions is an obvious step in reforming the crazed world of fantasy finance. If it did reduce the concentration of speculative centres in the City of London that would in the long term be good thing – our economy is over-dependent on servicing a system which cannot last anyway.

The Tories see Britain as the world capital of spivs, with unlimited free amounts of cash raining down on their friends and family in the city who devise ever more elaborate financial speculations on every one of which they take a margin. Free lolly forever. Hooray!

But it is probably too late anyway. The establishment seems oblivious to the extent to which the system is unravelling. Almost all European governments face increasing demands for real interest on the money they borrow from banks and financial institutions – increased bond yields – but that only increases debt, which countries largely service by new borrowing in this never-never land. Banks demand higher interest because they fear the risk of not being repaid, and the higher interest makes it more and more certain they won’t be repaid. It is only one of a number of ways the logic of the system has collapsed.

So the Tories posture while the system sinks deeper and deeper, and meantime people around the world have noticed that the elite are screwing them. These really are the most interesting times of my lifetime.

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94 thoughts on “Patriotism Cloaks the Scoundrels

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  • Fedup

    10 merits for that man.
    Citing one husband and wife source, whose references are; trust me I know. Theri contentions emphasis the phrase;”Money Powers” (an antisemitic trope) don’t cut much mustard, Abe Lincoln has been quoted many times in many sources included the 1935 published book I am busy with.
    However, this point bears little relevance to the debate; Disaster Capitalism which is the latter day dumbed down version of the same truth forwarded by Abe. For transference of ownership of natural assets of we the people to the “Money Powers” a war is the best vehicle. Furthermore the prerequisite for any war, is pandering to the prejudices of the great unwashed, and creation of divisions where none exist.

  • nobody

    No Craig, the logic of the system is just as it should be. Collapse is the aim. Any monetary system that has usury as its base is effectively no different to a pyramid scam, and like a pyramid scam can have no other outcome. It must bust.
    If you think that’s a mad thought you should wonder at why usury was declared a sin in every major religion in the world. Apart from Judaism, that is. In Judaism usury is only a sin if you do it to Jews. If you do it to goyim it’s a virtue. Don’t argue with me, take it up with Leviticus.
    As to why Christianity now embraces usury you’d have to go back to the reformation. I have no idea whose idea it was to declare that particular sin a virtue but they were either very wicked or very foolish. Or both, now that I think about it.
    Anyway, we’re fucked. There’s more money now owed than there is stuff to pay for it with. How’s that for logic?

  • Arsalan

    We are living under the dictatorship of the usurious zionists.
    Whose loyalties are only to themselves and Israel.

  • j

    I’m not sure I am in favour of a Tobin or transaction tax. People surely have a right to defend themselves against currency debasement by switching their savings to a currency that they think is relatively strong. Should not we be taxing wealth (people who have acquired wealth, not transactions (people in the act of acquiring or attempting to acquire wealth)? If you have that and a robust system that prevents banks from making silly loans, a transaction tax would probably be unnecessary.
    Like stamp duty on housing, it is a tax that is easy to raise, but this does not mean it is fair.
    The Dutch have a wealth tax. After an allowance of around 20,000 euro, a 1.2% tax is imposed on the average amount of your wealth (value on first day of year + value on last day of year divided by 2). In this way they have got rid of inheritance tax and capital gains tax. Neat, and makes filing tax returns much simpler.

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